Vice President of Finance

Learning for a Lifetime

PA Education Association (PAEA) seeks a dynamic, experienced nonprofit finance leader who can positively and productively impact both strategic and operational finance, ensuring the financial health and stability of the organization. The Vice President, Finance will have the opportunity to

build financial systems and accounting operations and, in collaboration with the leadership team, provide high level financial reporting and analyses to support progress toward long-range goals, strategies, and annual plans.   

The Organization

PAEA is the only national organization representing PA educational programs in the

United States. Currently, all of the accredited programs in the country are members of the Association. PAEA provides services for faculty at its member programs, as well as to applicants, students, and other stakeholders.

Founded in 1972 as the Association of Physician Assistant Programs, the Physician Assistant Education Association took on a new name in 2005. Member programs voted to adopt the current name, PA Education Association, in 2022.

With a vision of health for all, PAEA’s mission is advancing excellence in physician assistant education through leadership, scholarship, equity, and inclusion. To accomplish this mission, PAEA seeks to:

·     Encourage and assist programs to educate competent and compassionate PAs.

·        Enhance programs’ capacity to recruit, select, and retain well-qualified PA students.

·        Support programs in the recruitment, selection, development, and retention of well-qualified faculty.

·       Facilitate the pursuit and dissemination of research and scholarly work.

·        Educate PAs who will practice evidence-based, patient-centered medicine.

·        Serve as the definitive voice on matters related to entry-level PA education, nationally and internationally.

·        Foster professionalism and innovation in health professions education.

·        Promote interprofessional education and practice.

·        Forge linkages with other organizations to advance its mission.

Headquartered in Washington, DC, PAEA has an annual operating budget of $16 million and employs a staff of over 45 team members. Funding streams for PAEA include Centralized

Application Service (CASPA - 45% of revenue), Testing and Exam Products (PAEA

Assessment - 35% of revenue) and Membership Dues (10% of revenues).  For additional information, please visit paeaonline.org

The Position

The Vice President, Finance (VP) is a senior leader who can positively and productively impact both strategic and operational finance, ensuring the financial health and stability of the organization. Reporting directly to the Chief Operating Officer, the VP acts as an advisor to the Association’s leadership on financial matters. In addition to the strategic components required of this position, the VP is also accountable for ensuring compliance with the organization’s financial policies and

procedures, overseeing, and strengthening internal controls, and fostering a culture of continuous improvement and quality assurance in finance and accounting.

The VP is a new position for PAEA that came out of an organizational assessment that identified the importance of increasing competencies in key areas of finance and adding a high-level financial leader to the organization’s infrastructure. The position will oversee a Finance Department

of three individuals: a Director of Finance, Accounts Receivable Clerk, and Accounts Payable Clerk. Additionally, the finance/accounting function outsources to Marcum’s Client Accounting and Advisory Services who assist with monthly and yearly accounting, journal entries, reconciliations, etc. 

Key Priorities

The VP will step into a mission-driven organization that values collaboration and entrepreneurship.  Key priorities for the VP include (not in priority order): 

·        Implementing budgeting software: A recent assessment of financial operations

recommended moving from the current manual, Excel-sheet based budget process to

a budgeting technology that improves the budgeting process and connects budget

software with accounting software. 

·        Reviewing & Updating Financial Policies & Procedures: The Association’s

compliance and risk reduction roadmap identifies updating financial policies

and procedures.

·        Membership Dues and Pricing Sensitivity: The VP will engage with the staff group that is reviewing membership dues structure and exploring pricing sensitivity work across our products and services. 

·        Conference & Event Costs: The Association continually monitors the profitability and ROI on in-person conferences and will be exploring strategies to right-size the costs of these events.

·        Sponsorships and Development: The VP will work collaboratively with leadership to explore broader sponsorships and strategic partnerships, as well as consider fundraising strategies that could support grants/scholarships to programs, faculty, and/or students.

Key Responsibilities

This role requires a seasoned financial professional with a proven track record in nonprofit financial management, strategic planning, and team leadership. Responsibilities include: 

Financial Strategy, Planning, and Management

·        Supervise and lead the finance department, ensuring efficient and accurate financial operations.

·        Develop and implement financial strategies to align the PAEA’s financial resources appropriately with the Association’s mission, goals, and objectives.

·        Identify opportunities to leverage the organization's financial resources to maximize value and impact for members.

·        Collaborate with senior leadership and the Board of Directors on financial policies, internal controls, accounting standards, and procedures, as well as advise in decision-making.

·        Conduct regular financial analyses and forecasting to guide organizational planning and resource allocation.

·        Communicate financial information, analysis, risks, and recommendations in a clear and understandable manner to non-finance stakeholders, including at quarterly board meetings.

·        Monitor cash flow, investments, and financial performance indicators to identify areas for improvement and risk mitigation.

·        Plan, coordinate, and execute the annual budget process.

Internal Controls and Risk Management

·        Develop and implement the necessary financial policies, processes, and procedures to safeguard the organization’s financial assets, including robust internal controls and facilitating an annual financial audit process.

·        Ensure adherence to and compliance with legal and regulatory requirements related to financial operations as well as the Association’s financial policies, internal controls, and relevant

accounting standards.

·       Identify, assess, and manage financial risks, proposing and implementing risk mitigation strategies as needed.

Communication and Relationship Management

·        Promote a culture of high performance and continuous improvement that values learning and a commitment to quality.

·        Cultivate positive relationships with external partners, including PAEA’s external accounting partner, auditors, regulatory bodies, and any other financial service providers.

·        Ensure staff receive timely and appropriate training and development on finance functions.

·        Serve as the staff partner to the Association’s Finance Committee.

PAEA uses a variety of technology to support finance and accounting. Currently, the organization uses Sage Intacct, payroll is managed through Paycom, Salesforce is the CRM, and the organization uses Microsoft Office software. 

Experience and Attributes

Successful candidates for this position will bring a variety of experiences and attributes

to PAEA, including:

·        Master’s degree or equivalent preferred; CPA a plus.

·        8+ years’ progressive management experience in senior financial leadership role; experience in organizations with annual operating budgets of $10 million or more, preferred.

·        Strong understanding of nonprofit finance, accounting regulations, and compliance

requirement.

·        Demonstrated excellence in managing finance, accounting, budgeting, and reporting

responsibilities.

• Strategic thinker with the ability to translate financial data into actionable insights.
• Excellent judgment and creative problem-solving skills including negotiation and conflict resolution skills.
• Superb attention to detail.
• Exceptional written, oral, interpersonal, and presentation skills.
• Demonstrated leadership and management skills and experience in managing and developing a finance department, including the ability to influence and engage direct and indirect reports and peers.
• Experience with Sage Intacct accounting software, working with sales and financial data within Salesforce, and with budget management software preferred.

About Marcum’s Nonprofit & Social Sector Group  

On behalf of PAEA, Marcum’s Nonprofit & Social Sector Group is working with the organization to advance the search. Founded in 1984, we are, and always have been, a mission-driven professional services firm seeking to do more for nonprofits and socially conscious companies like PAEA.

Learn more about our work at www.marcumllp.com/industries/nonprofit-social-sector. 

Work Environment & Benefits

PAEA values the unique skills, talents and contributions of employees and sustains a mission-driven and collaborative work environment. This position is primarily remote, with some regular travel to company headquarters and other meeting locations as needed.

PAEA offers a competitive salary and benefits that considers external market compensation and maintains internal equity. The initial salary range for the position is $160K - $190K. The benefits package includes health, life, and disability insurances; paid time off and holidays; a 403(b) retirement plan with an 8% employer contribution; monthly wellness stipend, professional

development funding, tuition assistance, and other benefits.