Director of Finance

DIRECTOR OF FINANCE

Reports To: Executive Director

Supervises: Finance contractors and vendors

Position Description Overview

The Director of Finance provides strategic financial leadership and serves as the organization’s primary steward of financial health, risk management, and compliance. This role has primary responsibility for the financial management, reporting, and sustainability of the organization and its resources in accordance with its mission; including financial planning, accounting, regulatory compliance, and financial systems oversight.

This role works closely with the Executive Director, management team, and Board of Directors to support strategic decision-making, ensure strong internal controls, and maintain the financial integrity of the organization. The Director of Finance oversees financial operations across multiple revenue streams, including grants, donations, programs, rentals, and fiscal sponsorship, and ensures compliance with generally accepted accounting standards and all applicable laws and regulations.

Key Responsibilities

Board & Governance

• Serve as staff liaison to the Finance Committee.
• Prepare financial documentation and reports for presentation to and/or review by the Board and its committees.
• Attend monthly Finance Committee meetings and quarterly Board meetings to report on the financial health of the organization.
• Advise the Executive Director, Managing Director, and Board of Directors on financial strategy, risk management, and appropriate financial products.
• Provide recommendations on investment vehicles, cash management strategies, and reserve utilization.

Financial Leadership & Strategy

• Lead development and oversight of financial strategy, including operating and capital planning.
• Advise leadership on financial implications of organizational strategy and decision-making.
• Develop financial models, forecasts, and scenario planning tools to support long-term sustainability.
• Identify financial risks and opportunities and recommend appropriate actions.

Budgeting & Financial Planning

• Lead the annual organizational budgeting process in collaboration with the Treasurer, Executive Director, and management team.
• Oversee development and monitoring of departmental and program budgets.
• Provide regular financial forecasting and variance analysis.
• Support multi-year financial planning, including capital projects and restricted funding.

Financial Reporting & Analysis

• Oversee preparation of monthly, quarterly, and annual financial reports.
• Ensure financial reporting is timely, accurate, and in accordance with generally accepted accounting standards.
• Translate financial data into clear, actionable insights for leadership and the Board.
• Develop and refine financial reporting tools and dashboards.

Accounting & Financial Operations

• Manage relationships with third-party financial vendors and service providers, including bookkeeping, accounting, auditing, and tax preparation; oversee scope of work, performance, and deliverables to ensure accuracy, timeliness, and compliance
• Oversee all accounting functions, including general ledger, accounts payable, accounts receivable, and financial systems.
• Ensure accurate and timely recording of all financial transactions across multiple revenue streams.
• Oversee cash flow management and liquidity planning.
• Manage procurement systems and major vendor relationships, including financial service providers.
• Oversee financial reconciliation of payroll and benefits, ensuring accuracy of allocations, reporting, and general ledger integration.

Compliance, Audit & Controls

• Develop, implement, and maintain financial policies, procedures, and internal controls.
• Ensure compliance with all regulatory requirements at the federal, state, and local levels.
• Oversee tracking, reporting, and remittance of sales tax across applicable revenue streams.
• Monitor and report on unrelated business income (UBI), including coordination with external tax advisors and inclusion in annual filings.
• Advise leadership on activities that may generate UBI and associated compliance implications.
• Lead annual audit process and serve as primary liaison with external auditors.
• Oversee preparation and filing of IRS Form 990 and all required government filings.

Grants & Restricted Funding

• Oversee financial tracking, reporting, and compliance for grants and restricted funds.
• Collaborate with Development and teams to ensure alignment between budgets, reporting, and funder requirements.
• Support management of reimbursement-based and milestone-based funding structures.

Fiscal Sponsorship

• Oversee financial administration and compliance of all fiscal sponsorship projects.
• Ensure accurate tracking and segregation of funds for sponsored projects.
• Manage disbursements, reporting, and financial communications with sponsored entities.
• Develop and maintain policies, procedures, and agreements related to fiscal sponsorship.
• Ensure compliance with all legal, tax, and regulatory requirements related to fiscal sponsorship activities.
• Collaborate with program and administrative staff to support sponsored projects while maintaining appropriate financial controls.
• Monitor financial risk and exposure related to fiscal sponsorship arrangements.

Banking & Cash Management

• Manage relationships with banking institutions and financial service providers.
• Oversee cash management strategy, including liquidity planning across operating and restricted funds.
• Monitor and optimize use of financial products such as money market accounts and other low-risk investment vehicles.
• Ensure appropriate internal controls and access protocols for all financial accounts.

General

• Support the Executive Director and staff in various aspects of broad organizational initiatives, including strategic planning, community partnerships and engagement, board development, and professional development.
• Assist with special projects, AAI programming/events, and other operational tasks, as assigned, to support various departments within the organization.
• Support the overall functioning of the organization by actively participating in and leading team meetings and contributing to process improvement initiatives.
• Positive attitude and willing participation in a small team dynamic. Willingness to work outside of main responsibilities and serve as an organizational ambassador.
• Other duties as assigned.

Hours and Compensation

This is a full-time permanent exempt salary position at approximately 40 hours/week. Some evening and weekend hours may be required. The salary is $94,760 annually and eligible for AAI’s annual cost-of-living adjustment review.

This position is eligible for AAI's fully employer-funded medical and dental group plan, hybrid work model, retirement and student loan match programs, and unlimited PTO policy.

To Apply

Please submit a resume and a brief statement of interest (up to 300 words) to jobs@asianartsinitiative.org with the subject line Director of Finance

Organizational Overview

Asian Arts Initiative is a multi-disciplinary and community-based arts center in Philadelphia that advances racial equity and understanding, activating artists, youth, and their communities through creative practice and dialogue grounded in the diverse Asian American experience. Through exhibitions, performances, and community projects, we provide an inclusive gathering place for conversation and exchange of ideas. Our community-based arts initiatives seek out and cultivate innovative models for artists to engage with local communities, with a particular emphasis on working in partnership with our immediate neighborhood. Our primary programs include: 1) Artist residencies, commissions, and presenting of performances and exhibitions for artists to develop professionally and to create socially relevant artwork reflecting community experiences; 2) Year-round out-of-school-time programming for middle school youth, offering creative development and a safe place; 3) Participatory curatorial practices and various community development initiatives in our immediate neighborhood of Chinatown North/Callowhill.

This position is eligible for AAI's fully employer-funded medical and dental group plan, hybrid work model, retirement and student loan match programs, and unlimited PTO policy.