Chief Financial Officer at Cara Chicago

CHIEF FINANCIAL OFFICER

About Cara Collective

Cara Collective seeks to fuel a courageous national movement to eradicate relational and financial poverty. Our Mission is to build an inclusive economy by developing employment pathways to advance transformative individual and community success. Through our four entities - Cara, Cleanslate, Cara Connects, and Cara Plus - we engage job seekers, employers, and other organizations across the country to break the cycle of poverty through the power and purpose of employment. We believe that there is an incredible and untapped talent pool in our country, one comprised of people often experiencing homelessness and poverty. Our job is to unlock the strengths they already have and showcase them anew to the world. Today, we take the insights gained over the past 30 years to equip other organizations and employers with practices to help build a more inclusive economy. To ensure that we are centering our work around the individuals and communities we serve, Cara Collective commits to taking an inclusive and equitable approach in all we do: in our program design, diverse representation in our staff, partnerships we choose to enter, and our external and internal communications and policies. We leverage our individuality and differences as a way of deepening community and expanding opportunity in and around our organization. Discover the impact we are making and explore the impressive numbers behind our success by clicking here: www.caracollective.org.

About the Role

The Chief Financial Officer (CFO) is instrumental in driving the financial health, sustainability, and operational excellence of the organization. With a strategic mindset and a commitment to fiscal responsibility, the CFO ensures that all financial operations align with the organization’s mission and long-term objectives. Beyond financial management, the CFO provides valuable insights that inform organizational decision-making, equipping leadership with the data and strategies necessary to create meaningful impact. By fostering transparency, optimizing resources, and anticipating financial challenges, the CFO lays a solid foundation for stability and growth, enabling the organization to thrive. The CFO oversees several critical non-program operations, including Finance and the Contracts & Compliance teams. This role ensures sound fiscal management and efficient support services to the Enterprise’s programs and social enterprises, including Cleanslate and Cara Connects. The CFO manages key enterprise areas such as risk management, financial and tax reporting, annual budgeting, the external audit process, and public grants billing. The CFO directly supports the Finance Committee of the Board, ensuring alignment and accountability at all levels of the organization.

Qualifications

We are excited to offer this opportunity for an experienced and strategic leader to join our team as Chief Financial Officer (CFO). This role is ideal for a mission-driven professional passionate about leveraging financial expertise to support an organization dedicated to racial equity and to breaking the cycle of poverty. The ideal candidate will be inspired by Cara Collective's mission, and thrives in an environment committed to advancing social impact. They should be a forward-thinking leader with a strong strategic vision, exceptional financial acumen, and a collaborative mindset. The CFO must excel in operational efficiency, possess excellent analytical and problem-solving skills, and approach challenges with a solutions-oriented perspective. The CFO will play a critical role in overseeing financial operations, compliance, and asset management while supporting programs and social enterprises. They should demonstrate a commitment to continuous improvement and foster transparency and trust with internal teams, external partners, and the Finance Committee of the Board.

Requirements:

• 10+ years of progressive financial leadership experience, preferably in a nonprofit or mission-driven organization.
• Proven experience in budgeting, financial reporting, compliance, and audit processes.
• Strong knowledge of financial and tax regulations, risk management, and asset oversight.
• Advanced proficiency in financial software and tools, especially Microsoft Excel.
• Experience leading systems and teams; significant proficiency with Salesforce will be ideal.
• Expertise in team leadership and cross-departmental collaboration.
• Commitment to Cara Collective's mission and values, with an understanding of racial equity and poverty alleviation efforts.
• Exceptional organizational and communication skills.

The Responsibilities of the Chief Financial Officer

Financial Leadership (50%)

• Strategic Fiscal Management: Drive the financial planning and reporting processes, ensuring alignment with Cara Collective’s mission and long-term goals. Direct and supervise the Controller in managing financial reporting, cash management, budgeting, audits, tax compliance, and long-range planning across all departments and social enterprises, Cleanslate and Cara Connects.
• Budget Development and Oversight: Lead the organizational budget process, providing oversight for budget allocations and variance analysis. Monitor fiscal performance against the operating budget, investigate variances, and present findings to management, the Finance Committee, and the Board of Directors.
• Government Grant Compliance: Oversee federal and state grant budgets, ensuring compliance with all regulations and managing cost allocation plans.
• Audit Leadership: Maintain relationships with auditors and oversee the annual audit process, responding to audit findings, preparing Request for Proposals (RFPs) for audit services, and ensuring timely reporting to the Board. Direct the preparation and issuance of Cara’s federal 990 and other state returns.
• Stakeholder Relationships: Maintain and develop partnerships with partner agencies, funders, banks and other key entities to ensure organizational financial health and transparency, fostering trust and collaboration.
• Finance Committee Support: Collaborate closely with the Finance Committee Chair, ensuring full transparency and alignment on financial health and goals.

Contracts & Compliance Management (20%)

• Oversight & Grant Compliance: Lead and oversee the coordination and monitoring of all government grants and contracts, ensuring that budgets, spending, applications, and reporting are accurate and comply with local, state, and federal laws. Ensure that expenditures align with approved budgets, maintaining necessary documentation for all grants and contracts.
• Voucher & Audit Management: Oversee the voucher process, ensuring that monthly vouchers and bills are reviewed in accordance with approved budgets. Participate in all government audits and monitoring reviews, ensuring that all funding processes, operations, and reporting are executed effectively and comply with relevant laws and regulations.
• Relationship Management: Build and maintain strong, positive relationships with government agencies and key contacts, fostering effective communication to ensure compliance with grant conditions and funding requirements.

Data Management (10%)

• System Optimization: Oversee the use of Certinia (Financial Force) and Cube to capture data, inform strategy, and measure impact.
• Strategic Input: Provide guidance on project management and system enhancements to align with organizational goals.
• Reporting & Compliance: Oversee financial reporting and certain data analyses, using Certinia (Financial Force), Salesforce, and Cube.
• Metrics Reporting: Deliver reports on progress, using data to drive decision-making.

Leadership & Strategy (20%)

• External Engagement & Board Collaboration: Represent Cara Collective in financial discussions with key stakeholders, including donors and partners, ensuring transparency and fiscal governance. Serve as the primary liaison to the Finance Committee and Board, providing detailed financial updates and reports.
• Strategic Partnership & Team Leadership: Partner with the President & CEO and executive team to develop innovative solutions and align operational strategies with organizational goals. Build, manage, and mentor a high-performing team, overseeing training, work allocation, and performance evaluations.
• Fiscal Leadership & Departmental Support: Provide fiscal leadership, including coaching, training, and budgeting assistance to departments across the organization.

Reports To: President & CEO

Direct Reports(s): The CFO oversees the Finance and Contracts & Compliance teams, ensuring they provide efficient support for the organization's programs and social enterprises.

Workplace Type & Team Culture

Cara Collective has a strong team culture that values collaboration, communication, and camaraderie. We believe in the power of working together in person, which is why we expect our employees to be onsite at one of our Chicago-based locations multiple days each week. The exact number of onsite days per week may vary by role, employee tenure, and other factors. This commitment to in-person collaboration fosters a sense of belonging and teamwork among our employees, creating a supportive and dynamic work environment. We consistently measure staff satisfaction through employee surveys and have found that year after year, the vast majority of staff agree that Cara Collective is a great place to work and grow. This high level of employee satisfaction reflects our dedication to creating a positive and fulfilling workplace for all members of our team.

Starting Pay Range

We take budget and starting salary very seriously. We market our roles and use a salary analysis tool called Payscale and offer competitive, market-based compensation to all employees. This position’s expected starting pay range is $180,000 - $210,000 annually.

Benefits

• Medical, Dental, Vision Plans
• Basic Life Insurance
• Long Term Disability
• Personal Technology Stipend
• 4 Weeks Paid Parental Leave
• Starting with 17 Vacation Days, 8 Sick Days, 14 Paid Holidays
• Employee Paid Benefits
• Pre-Tax Medical Flexible Spending Account
• Pre-Tax Dependent Care Account
• Pre-Tax Transit & Parking Options
• Supplemental Life and AD&D Insurance
• Short-Term Disability Insurance
• 401(k) Retirement Plan (employer match up to 4% upon hire & immediately vested)

As of this posting, we annually review our benefit offerings to meet our employees' needs and be competitive in the market. All listed benefits offerings are at the discretion of the employer.

Equal Opportunity Employer

Cara Collective is committed to creating a diverse work environment and is proud to be an equal opportunity employer. Cara Collective does not discriminate on the basis of race, color, national origin, sex, gender identity, religion, sexual orientation, age, disability, parental status, veteran status, or any other protected status under applicable laws. We encourage individuals of all backgrounds to apply. If you are a qualified candidate with a disability, please email us at kboelkens@carachicago.org if you require reasonable accommodation to complete this application.