Chief Financial Officer

3 days ago Be among the first 25 applicants

Fahrenheit Advisors has been retained by the Virginia Retirement System (VRS), an independent state agency, to identify a strategic and experienced Chief Financial Officer (CFO) to lead its Finance Division.

Overview

Ranked among the largest public pension funds in the U.S., VRS serves over 803,000 members, retirees, and beneficiaries, providing trusted financial stewardship and retirement security for Virginians. The CFO will serve as a key advisor to the Director and the Board, overseeing all aspects of financial management, accounting, reporting, and fiscal operations to ensure transparency, compliance, and long-term sustainability.

VRS offers a collaborative, high-performing culture within a hybrid work environment (2 days in-office, 3 days remote). Team members enjoy competitive benefits, including comprehensive insurance coverage, generous paid leave, agency bonus programs, and a robust retirement plan with additional savings options.

This is an ideal opportunity for a mission-driven finance executive to make a lasting impact on an organization dedicated to serving the Commonwealth.

Key Responsibilities

• Lead all fiscal operations, including accounting, financial reporting (GAAP/GASB), investment accounting, accounts payable/receivable, payroll, cash management, and benefits disbursement.
• Oversee preparation of the Annual Comprehensive Financial Report (ACFR) and Popular Annual Financial Report (PAFR), ensuring accuracy and compliance.
• Develop and manage short- and long-term financial goals aligned with the agency’s Strategic Plan and statutory requirements.
• Analyze and interpret actuarial data, cash flows, and financial trends to inform strategic decision-making.
• Oversee procurement, facilities management, and key outsourced services.
• Maintain strong internal controls, risk management, and compliance with accounting standards and audit recommendations.
• Serve as a trusted advisor to the Director and Board, presenting clear, data-driven financial insights.
• Lead and mentor a high-performing finance team focused on accountability, service, and continuous improvement.
• Evaluate and recommend financial systems and technologies (e.g., Microsoft Dynamics 365, Cardinal Payroll, VNAV) to improve efficiency.
• Represent VRS with external stakeholders, including auditors, state offices, and participating employers.

Qualifications

• Bachelor’s degree in Accounting, Finance, or related field required; Master’s degree preferred.
• CPA required; additional credentials (CFA, CGFM) strongly desired.
• Minimum 8 years of progressive experience in public sector finance, accounting, or a comparable complex organization; public pension experience preferred.
• At least 5 years of leadership experience managing finance or accounting teams.
• Deep knowledge of GAAP and GASB standards.
• Strong analytical and problem-solving skills with the ability to explain complex financial issues clearly.
• Proven success in process improvement and strategic planning.
• Proficiency with Microsoft Office and financial systems; familiarity with Microsoft Dynamics 365, Cardinal Payroll, and VNAV preferred.
• Exceptional communication, leadership, and interpersonal skills.
• High integrity, discretion, and commitment to public service.

Leadership & Culture

• Build, develop, and inspire a diverse finance team through coaching and performance management.
• Align team goals with organizational priorities and statutory responsibilities.
• Foster a collaborative, solutions-oriented culture grounded in service excellence and continuous improvement.

Seniority level

• Seniority level

  Director

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Business Development

• Industries

  Government Relations Services and Government Administration

Referrals increase your chances of interviewing at Fahrenheit Advisors by 2x

Inferred from the description for this job

Medical insurance

Vision insurance

401(k)

Paid maternity leave

Paid paternity leave

Disability insurance

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