Nonprofit CFO Job Description Template

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Nonprofit CFO Job Description Template

Job Brief

We are looking for a CFO to join our nonprofit organization and manage all financial aspects, including investments and audit activities.

Nonprofit CFO responsibilities include overseeing cash flow planning, preparing and reviewing budgets and tracking operational metrics (KPIs.) To be successful in this role, you should have in-depth knowledge of risk management methods and the ability to create forecasting models.

Ultimately, you will ensure we manage our resources in the most beneficial way and help maximize our funding.

Responsibilities

  • Oversee cash flow management
  • Track important KPIs and analyze trends
  • Forecast return on investment (ROI) for current and future programs
  • Develop and monitor budgets
  • Inform key stakeholders of financial status and investment plans
  • Ensure all financial operations comply with federal and state laws
  • Present monthly, quarterly and annual financial statements to executives and board of directors
  • Coordinate audit activities
  • Represent the company to investors and public officials
  • Supervise the accounting department to ensure smooth day-to-day transactions

Requirements

  • Proven work experience as a CFO, preferably in a nonprofit organization
  • Excellent knowledge of data analysis, risk management and forecasting methods
  • Hands-on experience with accounting and financial management software (e.g. SAP)
  • Expertise in MS Excel
  • Analytical skills
  • Ability to explain financial terms in simple language
  • Familiarity with the way nonprofit organizations are structured
  • Genuine interest in our mission
  • BSc or MSc in Finance, Accounting or relevant field

What does Nonprofit CFO do?

A Nonprofit CFO (Chief Financial Officer) performs various responsibilities on a day-to-day basis, including:

  1. Financial Planning: The CFO develops and implements financial strategies and plans, assisting in the creation of budgets and long-term financial projections.

  2. Budgeting and Forecasting: They oversee the budgeting process, ensuring that financial resources are allocated effectively and in line with the organization's goals. They also provide forecasts and financial analysis to support decision-making.

  3. Financial Reporting: The CFO prepares and presents regular financial reports to the management team and the board of directors, providing information on the organization's financial performance, cash flow, and any significant variances.

  4. Accounting and Bookkeeping: They supervise the organization's accounting functions, including managing accounts payable and receivable, processing payroll, handling financial transactions, and ensuring compliance with accounting standards and regulations.

  5. Financial Analysis: The CFO conducts in-depth financial analysis, evaluating the financial health of the organization, assessing risks, and identifying opportunities for improvement. They also provide recommendations to management based on this analysis.

  6. Fundraising and Grant Management: They work closely with the development team to oversee fundraising efforts and manage grants and contracts. This includes ensuring proper financial reporting to funders and compliance with grant requirements.

  7. Risk Management: The CFO assesses and manages financial risks, including insurance coverage, internal controls, and compliance with relevant legal and regulatory requirements.

  8. Strategic Planning: They contribute to the organization's strategic planning process by providing financial insights and guidance. The CFO helps evaluate the financial feasibility of proposed programs and initiatives.

  9. Collaboration and Leadership: They collaborate with the executive team and other departments to align financial processes and goals with the overall organizational strategy. The CFO also leads the finance team, providing direction and support to ensure efficient operations.

  10. Stakeholder Management: The CFO maintains relationships with external stakeholders, such as auditors, banks, and financial advisors, to ensure compliance and access to effective financial resources.

It's important to note that the specific duties of a Nonprofit CFO may vary depending on the size, complexity, and mission of the organization.

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