Position Summary: The Director of Finance is responsible for creating, implementing, and managing the financial, control and support systems, and compliance integral to the day-to-day operations of The Sophia Way. This position is responsible for oversight of all financial management and bookkeeping processes, including internal financial controls, risk management, regulatory compliance, and management of a successful annual audit process. In addition, the Director of Finance will oversee Human Resources and Operations staff and their functions. This position supports the work of the Executive Director, collaborates closely with other Sophia Way senior staff, and is essential to The Sophia Way’s daily organizational functions.
Essential duties include, but are not limited to:
- Manages all financial bookkeeping processes and internal control policies and procedures for the organization, ensuring that all financial recordkeeping, accounts receivable, accounts payable, and reporting practices are constantly re-evaluated, updated, and in alignment with non-profit industry and GAAP best practices, all local/state/federal regulations, fraud-prevention best practices, and The Sophia Way policies; ensures that all bookkeeping tasks are carried out in accordance with internal fiscal timelines.
- Responsible for leading the organization’s annual financial audit and IRS tax form preparation processes, including working closely with the external audit team, The Sophia Way leadership and staff members, and the audit sub-committee of The Sophia Way’s Board of Directors to ensure that all audit tasks are completed on time, all fiscal documentation is in line with both The Sophia Way policy, audit, and GAAP requirements, and all completed audit and IRS documents are accurate.
- Collaborates with the Executive Director and the Finance Committee of the Board of Directors to develop, refine, and improve financial policies; ensures financial procedures are in alignment with established policies and are kept current. Follows up on any Finance, HR, or Operations action items resulting from Finance Committee or Board of Directors meetings as needed.
- Effectively manages and keeps up to date all The Sophia Way bank accounts, loan and financing accounts, investment and asset management, and the relationships with banking and other financial institutions; ensures transactions are accurate and legitimate and that The Sophia Way is receiving the level of service needed for optimal performance. Ensures banking and signor policies are followed.
- Responsible for cash flow reporting, planning, and management, ensuring the availability of funds as needed. Provides Executive Director monthly projected cash flow including A/P and A/R
- Develops and manages all annual budgeting and forecasting processes; achieves financial objectives by anticipating requirements, submits information for budget preparation, schedules expenditures, monitors expenses, and analyzes variances.
- Responsible for the timeliness, accuracy, and usefulness of all reporting including, but not limited to: Board of Directors, federal and state funders, and private funders; ensures that all financial reports for external use are accurate and appropriately discreet; contributes input and expertise as needed for specialized projects; ensures all available financial information is ready for use in budget and and other related work. Works closely with the Development team to ensure proper recording and alignment of gifts in both the donor database and bookkeeping systems.
- Supports the Director of Development and Executive Director with creating proposal budgets and reporting for government contracts and private grants; collaborates closely with the Development team to produce invoicing for all government contracts.
- Leads government audits when necessary; provides representatives clear and accurate information based on contract compliance.
- Oversees the management of the expense card system and expense approvals, ensuring systems and expenses are in alignment with organization’s policies and budgets.
- Continually develops and improves administrative and operational accounting services such as treasury management, employee retirement plans, payment processing, payroll, accounts receivable and payable, and purchasing.
- Manages selection and maintenance of the organization’s financial systems and software, ensuring compatibility with existing organizational systems and creating efficiencies; oversees other organizational technology solutions in collaboration with senior staff and department heads.
- Manages all business insurance programs for the organization.
- Responsible for all local, state, and federal regulatory compliance for licenses and taxes; files and pays all taxes on time; ensures organization is compliant with all EEO, IRS, and FCC regulations as related to finance and employment.
- Provides monthly reporting to Executive Director and Finance Committee in a timely manner to allow for accurate review and reporting to the full Board of Directors - financial statement including P&L, balance sheet, cash flow
- Ensures that complex financial matters are researched and resolved in ways that are compliant with all agencies having oversight to the financial practices of the organization, including outside auditors.
- Supervises the Human Resources Coordinator, providing support and guidance for the role and ensuring that all human resource functions for the organization are properly managed and in line with regulatory compliance.
- Supervises the Operations Manager, working closely with them to ensure that the operations and administrative functions of the organization operate smoothly and are properly resourced.
Educational Qualifications: Bachelor’s degree in financial, business, or other related field and five or more years of related professional experience; or an equivalent combination of education and experience sufficient to successfully perform the essential duties of the job as listed above.
- Demonstrated proficiency in nonprofit fund accounting
- Demonstrated ability to learn, understand, and utilize computer applications related to the organization, including Quickbooks (desktop) and/or other financial accounting systems
- Demonstrated proficiency in Generally Accepted Accounting Principles for nonprofit management
- Demonstrated proficiency with Microsoft Office suite, with superior Excel skills.
- Demonstrated aptitude for interpreting and implementing policies and procedures; ability to analyze and resolve office administrative and procedural challenges.
- Demonstrated familiarity with standard office administrative practices and procedures, including the proficient use of standard office equipment (including information technology) and general records management principles and practices.
- Demonstrated proficiency with business arithmetic and basic statistical techniques.
- General knowledge of human resources best practices, compliance, and recordkeeping sufficient to provide oversight and guidance to Human Resources staff.
- Sufficient experience with operations and administrative services to provide oversight and guidance to Operations staff.
- Proven experience in successfully building and managing teams, including the ability to set and achieve individual as well as departmental goals, and to mentor and manage performance for all team members.
- Demonstrated ability to work effectively in teams and create effective and engaged cross-team alignments.
- Outstanding attention to detail.
- Commitment to maintain confidentiality and a high degree of accuracy.
- Ability to take initiative and use independent judgment within established policy and procedural guidelines.
- Strong self-motivation and independence in carrying out responsibilities, organizing and prioritizing multiple tasks, and meeting deadlines.
- Excellent interpersonal, presentation, relationship-building, and communication skills - both written and verbal - which transcend diverse audiences.
- Demonstrated ability to provide consistent, high-quality professional services to a wide variety of internal and external constituents.
- Demonstrated ability to maintain a professional demeanor, especially while working in a fast-paced environment of constant demands and frequent interruptions.
- Demonstrated ability to work effectively with people of diverse backgrounds and promote a positive working environment, spirit of cooperation, and positive reactions to change and conflict resolution.
- Understanding and appreciation of The Sophia Way’s mission, vision, and programs.
- Ability to embody the community-oriented spirit of The Sophia Way to both internal and external constituents.
Physical Requirements: Long periods of being in a stationary position; operating a computer and other office equipment; frequently moving to/from various work areas, including The Sophia Way's locations; occasionally ascending/descending stairs; frequently communicating by phone and email; frequently remaining in a stationary position during meetings, discerning meeting content, expressing oneself, and exchanging accurate information; frequently moving to/from off-site meeting and/or event locations; occasionally moves supplies and/or equipment weighing up to 25 pounds.
Working Conditions: Primary location in typical business office environment, with frequent meetings and event attendance at a variety of off-site locations.