NPAG
Vice President of Finance and Chief Financial Officer
NPAG, Ellsworth, Maine, United States, 04065
THE OPPORTUNITY
Maine Community Foundation (“MaineCF”) is building a better Maine – more equitable, vibrant, and prosperous – by bringing people and resources together. Through partnerships and broad community leadership based on shared values, our work supports positive individual and population-level change. Started with a $10 contribution in 1983, MaineCF now is the only statewide community foundation and second-largest foundation overall with assets of $800 million and growing. Our team of 50+ professional people – with relationships with local, nonprofit, and state leaders across all 16 Maine counties – gives MaineCF a unique ability to make community investments that make a difference for people across the state. You can learn more about us by visiting our website: www.mainecf.org. As we move into our fifth decade of work, we are mindful that the communities we serve are confronting myriad challenges and that people of color, people living in rural communities, and those with low incomes continue to lack access to necessary services. MaineCF is committed to addressing the big challenges facing Maine in collaboration with our donors, nonprofits, government leaders, and business partners.
THE POSITION
MaineCF is looking for its next
Vice President of Finance and Chief Financial Officer
(VP/CFO). Reporting to the Chief Executive Officer and working alongside other members of the Management Team, the VP/CFO oversee all financial functions of the organization, including budgeting, financial planning and analysis, investment management, and fiscal operations. This role is critical to ensuring MaineCF’s long-term financial health and its ability to deliver on its mission throughout the state. The VP/CFO will provide strategic financial leadership and manage a team of eight individuals. Direct reports to the VP/CFO include the Senior Director of Finance, the Investment Accounting Manager, and the Team Administrator. MaineCF employs a team of 54 staff who work from the main office in Ellsworth, a second office in Portland, and remotely throughout the state. We invest in our own people and processes to ensure we can help our neighbors thrive. By strengthening our financial systems and aligning resources with the needs of Maine communities, MaineCF will be positioned to better serve the people of Maine. This is an exciting opportunity for a strategic financial leader who is energized and inspired by the opportunity to shape the foundation’s financial future and contribute meaningfully to the advancement of MaineCF’s mission.
KEY PRIORITIES AND RESPONSIBILITIES
The Vice President of Finance and Chief Financial Officer is responsible for the review, analysis, and evaluation of the day-to-day finances of the Foundation. The VP/CFO is a steward (protecting financial integrity), an operator (running efficient finance functions), a strategist (guiding long-term direction), and a catalyst (driving performance across the organization). Primary duties include : Financial Strategy & Leadership Develops and implements long-term financial strategies aligned with organizational goals. This includes evolving the foundation’s business model to support its community leadership role Serves as a key advisor to the CEO, board, and executive team on financial performance and strategy Balances growth, risk, and return to optimize the organization’s financial position Serves as the primary staff liaison with the Finance & Audit Committee and the Investment Committee Serves as the Treasurer for the board Serves in “capacity of” CFO for all supporting organizations Financial Planning & Analysis Oversees the process for budgeting, forecasting, and financial forecasting/modeling Monitors financial performance against targets and provides insights for decision-making Identifies opportunities for cost optimization, revenue growth, and operational efficiency Analyzes and interprets financial information related to the Foundation’s performance; makes recommendations on business policy, resource allocation, and business operations Accounting & Financial Reporting Ensures accurate and timely financial statements, consistent with GAAP/IFRS or other regulatory requirements Maintains transparency with internal and external stakeholders (board, investors, regulators, donors) Oversees the preparation of the Foundation and supporting organizations’ 990 and related tax returns for all required federal and state governments Oversees the annual audit in compliance with FASB regulations and GAAP for the Foundation, related supporting organizations and other entities Oversees expenditures of the Foundation, including check signing and asset transfers Risk Management & Compliance Identifies and mitigates financial risks Ensures compliance with tax laws, FASB, and State and Federal accounting regulations, and reporting standards Oversees internal controls and governance practices Capital Management & Treasury Manages cash flow, liquidity, and working capital to support operations and growth Oversees investment strategies and capital allocation Serves as the internal liaison to external investment partners/firm Reviews quarterly income allocation for the various investment pools Manages debt, banking relationships, and fundraising/investor relations Strategic Initiatives Creates financial and investment framework to support MaineCF strategic initiatives Provides data-driven insights to support strategic initiatives Directs unique and strategic financial partnerships to drive greater community impact Helps design performance metrics that drive accountability and efficiency Fundholder Services Creatively supports MaineCF’s role as provider of philanthropic infrastructure to facilitate charitable giving in Maine and maximize assets Serves as the finance and investment lead on significant donor relationships. Assists staff with donor relations as needed Leadership & Team Development Builds and leads the finance and investment team, ensuring strong technical skills and strategic thinking Fosters a culture of financial discipline and ethical responsibility Acts as a mentor and partner to other leaders in financial literacy and decision-making Other Responsibilities Participates and provides leadership in organizational management as a member of MaineCF’s senior management team Performs the duties of a department manager, including interviewing, hiring, scheduling, training, supervising, evaluating, recognizing and disciplining direct reports, setting employee goals and objectives, resolving employee issues, and ensuring compliance with the Employee Handbook and related personnel policies Other Duties and Responsibilities Perform other duties as assigned Committees/Teams Management Team (member) Finance Team (supervisor) Finance and Audit Committee of the Board (internal VP liaison) Investment Committee of the Board (internal VP liaison) Risk and Technology Committee of the Board (internal staff member)
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Maine Community Foundation (“MaineCF”) is building a better Maine – more equitable, vibrant, and prosperous – by bringing people and resources together. Through partnerships and broad community leadership based on shared values, our work supports positive individual and population-level change. Started with a $10 contribution in 1983, MaineCF now is the only statewide community foundation and second-largest foundation overall with assets of $800 million and growing. Our team of 50+ professional people – with relationships with local, nonprofit, and state leaders across all 16 Maine counties – gives MaineCF a unique ability to make community investments that make a difference for people across the state. You can learn more about us by visiting our website: www.mainecf.org. As we move into our fifth decade of work, we are mindful that the communities we serve are confronting myriad challenges and that people of color, people living in rural communities, and those with low incomes continue to lack access to necessary services. MaineCF is committed to addressing the big challenges facing Maine in collaboration with our donors, nonprofits, government leaders, and business partners.
THE POSITION
MaineCF is looking for its next
Vice President of Finance and Chief Financial Officer
(VP/CFO). Reporting to the Chief Executive Officer and working alongside other members of the Management Team, the VP/CFO oversee all financial functions of the organization, including budgeting, financial planning and analysis, investment management, and fiscal operations. This role is critical to ensuring MaineCF’s long-term financial health and its ability to deliver on its mission throughout the state. The VP/CFO will provide strategic financial leadership and manage a team of eight individuals. Direct reports to the VP/CFO include the Senior Director of Finance, the Investment Accounting Manager, and the Team Administrator. MaineCF employs a team of 54 staff who work from the main office in Ellsworth, a second office in Portland, and remotely throughout the state. We invest in our own people and processes to ensure we can help our neighbors thrive. By strengthening our financial systems and aligning resources with the needs of Maine communities, MaineCF will be positioned to better serve the people of Maine. This is an exciting opportunity for a strategic financial leader who is energized and inspired by the opportunity to shape the foundation’s financial future and contribute meaningfully to the advancement of MaineCF’s mission.
KEY PRIORITIES AND RESPONSIBILITIES
The Vice President of Finance and Chief Financial Officer is responsible for the review, analysis, and evaluation of the day-to-day finances of the Foundation. The VP/CFO is a steward (protecting financial integrity), an operator (running efficient finance functions), a strategist (guiding long-term direction), and a catalyst (driving performance across the organization). Primary duties include : Financial Strategy & Leadership Develops and implements long-term financial strategies aligned with organizational goals. This includes evolving the foundation’s business model to support its community leadership role Serves as a key advisor to the CEO, board, and executive team on financial performance and strategy Balances growth, risk, and return to optimize the organization’s financial position Serves as the primary staff liaison with the Finance & Audit Committee and the Investment Committee Serves as the Treasurer for the board Serves in “capacity of” CFO for all supporting organizations Financial Planning & Analysis Oversees the process for budgeting, forecasting, and financial forecasting/modeling Monitors financial performance against targets and provides insights for decision-making Identifies opportunities for cost optimization, revenue growth, and operational efficiency Analyzes and interprets financial information related to the Foundation’s performance; makes recommendations on business policy, resource allocation, and business operations Accounting & Financial Reporting Ensures accurate and timely financial statements, consistent with GAAP/IFRS or other regulatory requirements Maintains transparency with internal and external stakeholders (board, investors, regulators, donors) Oversees the preparation of the Foundation and supporting organizations’ 990 and related tax returns for all required federal and state governments Oversees the annual audit in compliance with FASB regulations and GAAP for the Foundation, related supporting organizations and other entities Oversees expenditures of the Foundation, including check signing and asset transfers Risk Management & Compliance Identifies and mitigates financial risks Ensures compliance with tax laws, FASB, and State and Federal accounting regulations, and reporting standards Oversees internal controls and governance practices Capital Management & Treasury Manages cash flow, liquidity, and working capital to support operations and growth Oversees investment strategies and capital allocation Serves as the internal liaison to external investment partners/firm Reviews quarterly income allocation for the various investment pools Manages debt, banking relationships, and fundraising/investor relations Strategic Initiatives Creates financial and investment framework to support MaineCF strategic initiatives Provides data-driven insights to support strategic initiatives Directs unique and strategic financial partnerships to drive greater community impact Helps design performance metrics that drive accountability and efficiency Fundholder Services Creatively supports MaineCF’s role as provider of philanthropic infrastructure to facilitate charitable giving in Maine and maximize assets Serves as the finance and investment lead on significant donor relationships. Assists staff with donor relations as needed Leadership & Team Development Builds and leads the finance and investment team, ensuring strong technical skills and strategic thinking Fosters a culture of financial discipline and ethical responsibility Acts as a mentor and partner to other leaders in financial literacy and decision-making Other Responsibilities Participates and provides leadership in organizational management as a member of MaineCF’s senior management team Performs the duties of a department manager, including interviewing, hiring, scheduling, training, supervising, evaluating, recognizing and disciplining direct reports, setting employee goals and objectives, resolving employee issues, and ensuring compliance with the Employee Handbook and related personnel policies Other Duties and Responsibilities Perform other duties as assigned Committees/Teams Management Team (member) Finance Team (supervisor) Finance and Audit Committee of the Board (internal VP liaison) Investment Committee of the Board (internal VP liaison) Risk and Technology Committee of the Board (internal staff member)
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