Reporting to the President, the Chief Financial Officer (CFO) will be responsible for the National Black MBA’s financial controls, reporting and analysis while also being an active participant on the organization’s leadership team. The CFO will lead all financial administration, planning, and budgeting. As a member of the senior leadership team, the CFO will work closely with motivated and engaged finance and audit committees of the board of directors.
Specific responsibilities include:
Provide recommendations to the President based on financial analysis and projections, cost identification and allocation, and revenue/expense analysis.
Oversee long-term budgetary planning and cost management in alignment with NBMBAA’s strategic plan.
Engage the Director of Development to align financial management with short- and long-term financial planning and projections.
Engage the board finance committee around issues, trends, and changes in the operating model and revenue /cost structure.
Financial and Operational Management
Ensure proper maintenance of all accounting systems; supervise NBMBAA’s finance and accounting staff.
Oversee budgeting, and the implementation of budgets, so as to monitor progress, identify areas of concern and present operational performance metrics.
Ensure that finance staff maintains financial record systems in accordance with Generally Accepted Accounting Principles, and monitor the use of all funds. Ensure maintenance of appropriate internal controls including segregation of duties and adherence to financial policies and procedures.
Ensure legal and regulatory compliance regarding all financial activities.
Oversee the preparation of all financial reporting materials and metrics for funding and the National Black MBA board of directors; prepare and communicate monthly and annual financial statements and related reports and analysis.
Manage cash flow and forecasting; direct all financial, project-based, and departmental budgeting and accounting.
Coordinate annual audit activities with external auditors and ensure proper preparation and filing of tax returns.
Represent the association to financial partners, including financial institutions, foundation executives, auditors, public officials, local chapters, etc.
Remain up to date on nonprofit financial management best practices and state and federal law regarding nonprofit operations.
Train, develop and manage direct staff.
Engage other members of the senior management team to facilitate cross-department collaboration to ensure that financial systems and solutions positively support NBMBAA’s evolving strategy, operational delivery, and data collection needs.
Partner effectively with National Headquarters Team, Local Chapters, Corporate Sponsors, Financial Partners and Board of Directors.
The CFO will be a seasoned and mature leader with at least 12 years of broad finance experience, ideally including audit, leading & developing a team, driving an organization to meet its targets, gathering and evaluating financial information, and making actionable recommendations to senior leadership. The CFO will ideally have experience managing financial and information technology functions (including accounting, budgeting, control, analysis and reporting) for a national nonprofit.
The CFO will have the following experience and attributes:
A minimum of a BS required, CPA and/or CMA preferred; MBA would be a plus.
If coming from the for-profit world, nonprofit board experience preferred.
Demonstrated excellence in managing finance, accounting, budgeting, control, and reporting.
Skill in examining, developing, reengineering, and recommending financial policies and procedures.
Strong analytical skills and experience interpreting a strategic vision into an operational/financial model.
A collaborative and flexible style, with a strong service mentality. A team player who is committed to organizational success and lifelong learning.
A hands-on manager with unquestioned integrity and a desire to work in a dynamic, mission-driven, values-based environment.
An effective communicator, with strong oral, written and presentation skills.
Strong commitment to developing team members.
A passion for the organization’s mission is essential.