Chief Financial Officer/Head of Finance

Location: Flexible 

Note: This role is being sourced through The Art of Money Matters in partnership with Next Street 

THE COMPANY

Organization Overview

Next Street, LLC (nextstreet.com) (“the Company”) designs and develops solutions to connect entrepreneurs and small business owners with the right resources at the right time, with a focus on small businesses facing disproportionate barriers.

With a proven track record of nearly 20 years, an ongoing commitment to becoming an anti-racist organization, and an extensive network of small business advocates, operators, and investors, Next Street is accelerating the impact of institutions and advisors on small businesses and providing millions of business owners with the experts, tools, and capital they need to thrive.

Such customized services, programs, and solutions may range from an assessment of an economically distressed area for an interested corporation or government agency, to programs which educate entrepreneurs in fundamental business concepts, planning and operations, to investment and financing resources needed to support and help small business thrive.

The Company is a privately-held entity which was established in 2005 with the intention of helping and nurturing small businesses. The Company is presently embarking upon a strategy to rebrand itself and dramatically expand its service offerings with an expected 25% to 40% annual growth in revenues for the next several years. Such new offerings will include: a) renewed emphasis upon business ecosystem assessments and delivery; b) strategic planning, design, and implementation thereof delivered directly to the entrepreneur; c) capital advisory services; d) development and implementation of a technology-enabled small business concierge; and e) small business centers designed to support fledgling enterprises and provide them with every opportunity to soar.

The Company currently has 55 employees and two offices located in New York City and Chicago.  However, its personnel work in a variety of locations with flexible arrangements throughout the United States.  The Company provides competitive salaries, attractive benefits, generous amounts of paid time off, and opportunities for professional development.  It is an equal opportunity employer, is committed to antiracism (https://nextstreet.com/racial-equity/) and recognizes that its employees are collectively its greatest asset.

THE ROLE OF THE CHIEF FINANCIAL OFFICER/HEAD OF FINANCE

Summary

The Chief Financial Officer (CFO) will report to one of the three Managing Partners and will be responsible to create a scalable and agile next-generation finance function that provides meaningful real-time business insights for management decisions, flexible forecasts, and best-in-class controls.  Additionally, the CFO will be responsible in guiding the Company during a period of rapid growth and raising capital, if necessary, to support that expansion.

Detailed Description

It is anticipated that this position will be very much a “hands on, roll up the sleeves” in the near-term as the business grows and the CFO builds a dynamic finance function.  Below are the Managing Partners’ near-term view of the CFO’s responsibilities and expected allocation of effort.

Recurring Financial Management (50%)

Reporting

1. Identify and deliver a streamlined suite of reports and KPIs that succinctly summarize the firm’s financial position and allow for agile decision-making and planning
2. Proactively lead the development (and fine-tuning) of key financial analyses and insights to help enable the company to meet its strategic goals
3. Work with the Sales & Marketing and Revenue functions to establish common points of reference between Salesforce and the accounting system and to ensure that contract revenues are recorded correctly

Budgeting & Forecasting

1. Lead the annual budget process to ensure the finished product is reflective of the business plan and reasonably achievable
2. Periodically prepare/update forecasts based upon actual and anticipated circumstances

Strategic Financial Management (Percentage will vary from year to year)

1. Evaluate and oversee company’s capital structure
2. Manage recapitalization/debt, if/when relevant
3. Manage external capital raises, if/when relevant
4. M&A transactions, if/when relevant

Finance Administration & Controls (30%)

1. Identify and implement controls to ensure the accuracy and integrity of the firm’s financials and reduce risk
2. Identify and implement technology, systems and processes that will allow the financial operations to scale and increase efficiencies with the firm’s growth
3. Implement and document continuous improvements and streamlining across the firm’s financial operations
4. Oversee the routine financial activities of the firm including, but not necessarily limited to, invoicing and collection, payroll, disbursement processing, cash management, annual audits, state and local tax filings, and overall maintenance of the books and records

Practice & Firm Leadership (20%)

1. Set strategic direction for the Finance function, in collaboration with the Managing Partner in charge of Finance and Revenue
2. Partner with Chief of Staff / Chief Operating Officer to guide the Corporate team, and create a culture that supports an interwoven, high-growth and continuous improvement culture
3. Manage two direct reports currently with responsibility for performance management, coaching, and development; manage team resource use and development, including budgeting, training, hiring, performance management, and coaching decisions as the team grows over time
4. Serve on firm Management Team and oversee and execute priorities for the firm

QUALIFICATIONS

• Demonstrated ability to contribute to and manage the growth of a service-based business (e.g. software as a service) to revenues in excess of $25 million
• Demonstrated leadership skills and the ability to navigate amongst various stakeholders
• Demonstrated ability to be tactical or strategic depending upon the circumstances
• Willingness to embrace “hands on, roll up the sleeves” type activities in the near term as the business grows
• Investment banking or private equity experience a plus
• Previous CFO experience required
• CPA required, MBA a plus

COMPENSATION AND BENEFITS

Salary              $190K negotiable commensurate with experience

Bonus              Performance based

Benefits           Medical, Dental, and Vision paid 75% by the Company

                        Health Reimbursement Account

                        Flex Spending Account

                        Employee Assistance Program

                        28 days paid time off

                        Generous paid parental, family, and medical leave

                        Short and Long-Term Disability

                        401k Plan

                        Annual stipend for professional development

CONTACT

Interested parties are asked to submit the following:

• A current CV in PDF format
• A thoughtful cover letter outlining your interest in this opportunity, relevant expertise, and commitment to the company’s mission and values in PDF format.

Next Street is an equal opportunity employer and considers qualified applicants for employment without regard to race, color, creed, religion, national origin, sex, sexual orientation, gender identity and expression, age, disability, or Vietnam era, or other eligible veteran status, or any other protected factor.