Chief Financial Officer - The Associated

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The Associated, Jewish Federation of Baltimore is seeking a proven Chief Financial Officer (CFO) who can guide the financial systems within our organization. The CFO will have a day-to-day impact on organization financials to maintain and grow our financial position. This seasoned professional with supervisory and non-profit experience must understand current accounting practices and strategic planning, budgeting, forecasting, risk management, investment management and governance. The CFO will oversee the management of The Associated’s investment portfolio and will work closely with professional and lay leadership of the various system agencies and programs to ensure that The Associated’s financial goals and projections are met.

Overview of The Associated

The Associated is recognized as one of the top Jewish community organizations in North America and a national leader within the Federation system. The Associated ensures the delivery of community services to the Baltimore Jewish community, the people of Israel, and Jewish communities around the world. The Associated’s Annual Campaign is the central vehicle for all of the organization’s agencies and programs, supplemented by fundraising efforts on behalf of strategic projects. In 2022, the Annual Campaign raised approximately $30 million and the overall operating budget of the Associated is approximately $55 million. The Associated is also nearing the completion of an unprecedented $200 million Centennial Campaign, charting the course for the next 100 years. The Associated maintains a diverse real estate portfolio and a robust endowment and investment program with nearly $1 billion in assets.

With a staff of over 100 full-time employees, The Associated has stayed true to its promise of serving the Baltimore community with urgency, compassion, and a commitment to Jewish values.

The Chief Financial Officer Position

The Chief Financial Officer (CFO) will oversee all financial reporting, budgeting, forecasting, financial analysis, and compliance requirements for The Associated network. The CFO will work closely with the President & CEO, along with The Associated and Associated Jewish Charities Boards, Audit & Finance Committees, and agency partners to develop and implement financial strategies that support the organization’s mission and goals. The CFO is primarily responsible for the integrity of the overall financial process and results for The Associated and broader system at large, as well as the management of the Investment Oversight and Management Committees. The CFO will ensure that investments of almost $1 billion are managed in the most effective and efficient manner, meeting stakeholder expectations and custom benchmarks established. The CFO oversees the annual operating and capital budgets as well as the annual audit, ensuring that all financial goals are met. The CFO also ensures compliance with all covenants and terms of various agreements, whether grant or debt agreements. This role also is involved in business operations such as risk management, real estate and government grants as needed. This role also will work closely with the leadership of the various agencies and programs to ensure that The Associated’s goals and projections are met. The CFO oversees a team of 25 full-time employees and will supervise 3 direct reports.

Key Responsibilities

• Adheres to established and updated financial and operational policies and procedures ensuring a strong system for internal controls. Provides proper and timely payroll, payables, and billing processes.
• Manage the system’s assets, primarily investments and real estate to ensure that its value is maintained to the utmost extent possible.
• Oversees the investments of almost $1 billion managed for various stakeholders and meeting if not exceeding the custom benchmarks established. Ensure open communications and transparency of investment actions with the stakeholders.
• Ensure that The Associated is fiscally solvent through proper operational controls, budgeting and effective implementation thereof including successful audits.
• Prepares and oversees the annual operating and capital budget processes. Provides actual quarterly financial statements that is compared to budgeted to ensure that financial plan is on track.
• Oversees the annual audit process, ensuring a "clean" opinion on financials presented. Also, that there are minimal if not zero material weaknesses in internal controls as defined by the external auditors.
• Collaborate with various departments, particularly Community Planning and Allocations and the Development departments to monitor and strategize fiscal goals.
• Manage and partner with the Finance Committee, Audit Committee, and various other agency stakeholders to ensure collaboration and consensus building with agencies, lay and professional leadership.
• Optimize the capital structure of The Associated's balance sheet including use of leverage, investments, and cash management.
• Reviews cash flows to minimize borrowings and interest costs and to maximize interest income which involves collections of pledges, and value engineering of various vendor and other relationships.

Position Requirements

• CPA or MBA degree required.
• Fifteen or more years work-related and supervisory experience, with at least six years’ experience working with a not-for-profit organization.
• Broad and comprehensive knowledge of theories, concepts, and practice with the ability to use in complex and/or unprecedented situations.
• Knowledge of Sage platforms preferred.

Compensation

Salary Range: Starting range begins at $225,000 annually. Experience will impact final applicable range for this position.

Benefits & Perks

The Associated offers a hybrid work environment that supports professional development and collaboration. We offer a comprehensive benefits package, including health insurance, 401(k) employer match, life insurance, Long Term Disability (LTD), Flexible Spending Plan, paid parental leave, tuition reimbursement, holiday pay, wellbeing programming and a complimentary membership to the Jewish Community Center. We also make work/life balance a priority by offering generous vacation and sick time.

Application Process

This job description is not intended to be all-inclusive, but to describe the general nature and level of work to be performed. The Associated is proud to be an equal opportunity employer. In keeping with our Jewish values, The Associated supports a thriving Baltimore that celebrates diversity and appreciates the unique combination of gender, race, age, religion and ethnicity, sexual orientation, intellectual and physical disabilities, and special qualities that each resident adds to the fabric of life in Baltimore. We welcome everyone interested in our mission to join us. If you require accommodations, please contact us, and we will make every effort to meet your needs.

The Associated: Jewish Community Federation of Baltimore and its Agencies are equal opportunity employers, dedicated to a policy of non-discrimination in employment on the basis of race, religion, color, sex, sexual orientation, gender identity or expression, national origin, age, marital status, citizenship, veteran's status, physical or mental disability that does not prohibit the performance of essential job functions (with or without reasonable accommodation) or any other basis protected by federal, or applicable, state or local law.