MCV Foundation
Overview
Organizational Information: The mission of the MCV Foundation is to support and foster VCU Health and VCU Health Sciences through philanthropy, stewardship, innovation, communications, and collaboration. Since 1949, MCV Foundation has supported the MCV Campus, a nationally recognized urban academic health center in downtown Richmond. The MCV Foundation’s campus partners include: VCU College of Health Professions, VCU School of Dentistry, VCU School of Medicine, VCU School of Nursing, VCU School of Pharmacy, VCU School of Public Health, VCU Massey Comprehensive Cancer Center and VCU Medical Center. The Foundation currently manages more than 2,000 funds and $1 billion in assets to ensure that the VCU Health Sciences Campus remains at the forefront of excellence and innovation in patient care, education, and research. Position Summary : The Assistant Chief Financial Officer (Assistant CFO) works closely with the CFO to ensure sound fiscal stewardship, compliance with fund accounting standards, and long-term financial sustainability of the foundation. This individual is responsible for overseeing day-to-day financial operations, financial reporting, and compliance matters. Supervisory Responsibilities
Directly manage Associate Director of Treasury & Investment Accounting, Senior Accountant, Associate Director of Financial Management and the Accounting Administrative Assistant. Oversight of the Accounts Payable and Accounts Receivable functions, with the active support and collaboration of the Associate Director of Financial Management. Key Responsibilities
Financial Management Oversee all aspects of financial management, including budgeting, forecasting, and cash flow management. Develop and implement financial policies, procedures, and internal controls to safeguard the foundation’s assets. Assist in the preparation and presentation of financial statements, dashboards, and reports for the Board of Trustees, Finance & Audit Committee, Investment Committee and executive leadership. Monitor financial performance for historical variances and key indicators of organization health. Strategic Support & Planning Collaborate with the CFO to develop and monitor multi-year financial models, forecasts, and long-term plans. Evaluate financial performance and provide insights to support strategic decision-making and risk mitigation. Accounting and Reporting Lead the preparation of accurate and timely financial statements, ensuring compliance with generally accepted accounting principles (GAAP) and nonprofit accounting standards. Manage the month-end and year-end closing processes, reconciliations, and journal entries. Provide regular financial reports with analysis to the Vice President for Finance and Administration & Chief Financial Officer External Audit Lead annual external audit preparation, liaising with auditors, and ensuring timely and clean audit results. Monitor internal controls and ensure compliance with GAAP, FASB standards for non-profits, IRS regulations, and all relevant funder or grantor requirements. Manage audit schedule and direct team to complete interim and year end audit work, to meet deadlines for VCU Controller’s office reporting. Communicate methodologies and documentation of complex accounting projects to audit staff and partners. Project Management Oversee the transformation of the foundation’s financial systems and hardware, to update technology, improve transactional efficiency and organizational effectiveness. Lead the scheduling and communication of upgrades and process improvements for the Finance team and the organization, where affected. Develop a project plan to guide projects to be completed on time and within budgets. Assign project team members to manage deliverables, according to the plan. Budgeting and Planning Collaborate with budget managers and department heads to develop and monitor operation budgets. Participate in the annual budgeting process, providing financial analysis and recommendations to align budget priorities with strategic goals. Prepare detailed budget plan by operational area and summary for executive leadership. Compliance and Regulatory Ensure compliance with all federal, state, and local tax and reporting requirements, including IRS Form 990. Stay informed about changes in nonprofit accounting regulations and recommend adjustments to policies and practices as necessary. Finance Liaison Build and maintain relationships with external partners such as external auditors, VCU Development and Alumni Relations, VCU school and departmental business offices, VCU Controller’s office and VCUH campus leadership. Serve as a point of contact for inquiries related to audit, reporting and campus financial relations. Team Leadership and Development Supervise a team of finance professionals, fostering a culture of accountability, professional growth, and service orientation. Provide guidance and training to staff and stakeholders on financial policies, procedures, and fund accounting principles. Provide backup support to Investment & Treasury and Financial Systems & Reporting staff during absences, including payroll, banking and finance systems. Collaboration and Communication Partner with development and communications teams to ensure financial alignment with mission and strategic plan objectives. Serve as a financial resource to leadership team, assisting with budgets and donor fund management. Other duties and responsibilities as assigned by the CFO or President and CEO. Education and Experience
Bachelor’s degree in finance, accounting, business administration, or a related field; CPA required and master’s degree in accounting, finance, business administration, or related field preferred. At least 10+ years in financial leadership roles, preferably within non-profit organizations. Strong understanding of non-profit financial management, including fund accounting, endowment and investment accounting and non-profit regulatory compliance. Familiarity with ERP systems, financial systems and fundraising/CRM systems used in large foundations (e.g., SAP, Blackbaud, Oracle) Required Skills/Abilities
Minimum 8–10 years of progressive accounting and financial management experience, including at least 3 years in a non-profit environment Strong expertise in non-profit fund accounting – higher education financial management experience is a plus Experience with financial reporting to boards and senior executives Demonstrated ability to lead and manage finance teams Strong understanding of GAAP and nonprofit accounting principles. Proficiency in financial software and financial systems administration; experience with accounting software and business process analysis is essential. Excellent analytical skills, attention to detail, and accuracy in financial record-keeping. Strong computer skills including Microsoft Office with advanced knowledge of Excel. Excellent communication and interpersonal skills, with the ability to convey financial concepts to non-financial stakeholders. Strategic thinking and problem-solving abilities, with a focus on data-driven decision-making. Ability to work effectively with team members at all levels of the organization. Ability to think critically, manage multiple projects, and function well in a team environment. Ability to work independently, prioritize workload and work well under tight deadlines. High integrity, discretion, and a strong commitment to the mission of non-profit service Collaborative leader with the ability to work cross-functionally Please send your resume and cover letter to recruiting@mcvfoundation.org for consideration.
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Organizational Information: The mission of the MCV Foundation is to support and foster VCU Health and VCU Health Sciences through philanthropy, stewardship, innovation, communications, and collaboration. Since 1949, MCV Foundation has supported the MCV Campus, a nationally recognized urban academic health center in downtown Richmond. The MCV Foundation’s campus partners include: VCU College of Health Professions, VCU School of Dentistry, VCU School of Medicine, VCU School of Nursing, VCU School of Pharmacy, VCU School of Public Health, VCU Massey Comprehensive Cancer Center and VCU Medical Center. The Foundation currently manages more than 2,000 funds and $1 billion in assets to ensure that the VCU Health Sciences Campus remains at the forefront of excellence and innovation in patient care, education, and research. Position Summary : The Assistant Chief Financial Officer (Assistant CFO) works closely with the CFO to ensure sound fiscal stewardship, compliance with fund accounting standards, and long-term financial sustainability of the foundation. This individual is responsible for overseeing day-to-day financial operations, financial reporting, and compliance matters. Supervisory Responsibilities
Directly manage Associate Director of Treasury & Investment Accounting, Senior Accountant, Associate Director of Financial Management and the Accounting Administrative Assistant. Oversight of the Accounts Payable and Accounts Receivable functions, with the active support and collaboration of the Associate Director of Financial Management. Key Responsibilities
Financial Management Oversee all aspects of financial management, including budgeting, forecasting, and cash flow management. Develop and implement financial policies, procedures, and internal controls to safeguard the foundation’s assets. Assist in the preparation and presentation of financial statements, dashboards, and reports for the Board of Trustees, Finance & Audit Committee, Investment Committee and executive leadership. Monitor financial performance for historical variances and key indicators of organization health. Strategic Support & Planning Collaborate with the CFO to develop and monitor multi-year financial models, forecasts, and long-term plans. Evaluate financial performance and provide insights to support strategic decision-making and risk mitigation. Accounting and Reporting Lead the preparation of accurate and timely financial statements, ensuring compliance with generally accepted accounting principles (GAAP) and nonprofit accounting standards. Manage the month-end and year-end closing processes, reconciliations, and journal entries. Provide regular financial reports with analysis to the Vice President for Finance and Administration & Chief Financial Officer External Audit Lead annual external audit preparation, liaising with auditors, and ensuring timely and clean audit results. Monitor internal controls and ensure compliance with GAAP, FASB standards for non-profits, IRS regulations, and all relevant funder or grantor requirements. Manage audit schedule and direct team to complete interim and year end audit work, to meet deadlines for VCU Controller’s office reporting. Communicate methodologies and documentation of complex accounting projects to audit staff and partners. Project Management Oversee the transformation of the foundation’s financial systems and hardware, to update technology, improve transactional efficiency and organizational effectiveness. Lead the scheduling and communication of upgrades and process improvements for the Finance team and the organization, where affected. Develop a project plan to guide projects to be completed on time and within budgets. Assign project team members to manage deliverables, according to the plan. Budgeting and Planning Collaborate with budget managers and department heads to develop and monitor operation budgets. Participate in the annual budgeting process, providing financial analysis and recommendations to align budget priorities with strategic goals. Prepare detailed budget plan by operational area and summary for executive leadership. Compliance and Regulatory Ensure compliance with all federal, state, and local tax and reporting requirements, including IRS Form 990. Stay informed about changes in nonprofit accounting regulations and recommend adjustments to policies and practices as necessary. Finance Liaison Build and maintain relationships with external partners such as external auditors, VCU Development and Alumni Relations, VCU school and departmental business offices, VCU Controller’s office and VCUH campus leadership. Serve as a point of contact for inquiries related to audit, reporting and campus financial relations. Team Leadership and Development Supervise a team of finance professionals, fostering a culture of accountability, professional growth, and service orientation. Provide guidance and training to staff and stakeholders on financial policies, procedures, and fund accounting principles. Provide backup support to Investment & Treasury and Financial Systems & Reporting staff during absences, including payroll, banking and finance systems. Collaboration and Communication Partner with development and communications teams to ensure financial alignment with mission and strategic plan objectives. Serve as a financial resource to leadership team, assisting with budgets and donor fund management. Other duties and responsibilities as assigned by the CFO or President and CEO. Education and Experience
Bachelor’s degree in finance, accounting, business administration, or a related field; CPA required and master’s degree in accounting, finance, business administration, or related field preferred. At least 10+ years in financial leadership roles, preferably within non-profit organizations. Strong understanding of non-profit financial management, including fund accounting, endowment and investment accounting and non-profit regulatory compliance. Familiarity with ERP systems, financial systems and fundraising/CRM systems used in large foundations (e.g., SAP, Blackbaud, Oracle) Required Skills/Abilities
Minimum 8–10 years of progressive accounting and financial management experience, including at least 3 years in a non-profit environment Strong expertise in non-profit fund accounting – higher education financial management experience is a plus Experience with financial reporting to boards and senior executives Demonstrated ability to lead and manage finance teams Strong understanding of GAAP and nonprofit accounting principles. Proficiency in financial software and financial systems administration; experience with accounting software and business process analysis is essential. Excellent analytical skills, attention to detail, and accuracy in financial record-keeping. Strong computer skills including Microsoft Office with advanced knowledge of Excel. Excellent communication and interpersonal skills, with the ability to convey financial concepts to non-financial stakeholders. Strategic thinking and problem-solving abilities, with a focus on data-driven decision-making. Ability to work effectively with team members at all levels of the organization. Ability to think critically, manage multiple projects, and function well in a team environment. Ability to work independently, prioritize workload and work well under tight deadlines. High integrity, discretion, and a strong commitment to the mission of non-profit service Collaborative leader with the ability to work cross-functionally Please send your resume and cover letter to recruiting@mcvfoundation.org for consideration.
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