Chief FInance Officer

Job Description

Job Description

The Peninsula Airport Commission (PAC) is the governing body and employment entity for the Newport New-Williamsburg Airport, and is an equal opportunity employer which does not discriminate on the basis of race, color, national origin, sex, religion, age or disability.

The Chief Finance Officer reports directly to the Airport’s Executive Director and serves as a principal member of the executive leadership team. Must have a professional orientation toward always providing excellent customer service to airport staff and to external partners. The successful candidate will be a strategic partner in the airport's continued development, providing expert financial stewardship and leadership. The role demands operational excellence, well-honed oral and written communication skills, and the ability to operate with appropriate autonomy while ensuring fiscal integrity and growth for the airport.

DUTIES, FUNCTIONS & RESPONSIBILITIES: Directs and manages all financial accounting and budgetary functions for the Peninsula Airport Commission (PAC). Responsible for maintaining, processing and analyzing all financial records requiring the applications of generally accepted accounting principles, theories and practices to include the specific requirements placed on accounting within a governmental entity.

Key areas of responsibility include the following:

• Directs the organization’s financial analysis, longterm strategy, and capital planning.
• Works closely with the entire management team to collaboratively address airport challenges, identify efficiencies, and drive continuous improvement across all operations.
• Manages all accounting operations, procurement processes, investments, and the development and monitoring of both operating and capital budgets.
• Implements and oversees robust financial risk management protocols to safeguard airport assets and ensure longterm stability.
• Secures necessary funding and cultivates critical relationships with lending institutions, bondholders, and financial partners.
Specific Duties & Responsibilities:
• Provide comprehensive executive leadership for all financial divisions, encompassing financial planning, corporate accounting, budget management, forecasting, enterprise risk management, procurement, and contract administration.
• Develop and execute a broad, forwardlooking fiscal strategy to ensure robust financial preparedness, resilience, and longterm sustainability.
• Oversee the organization’s financial planning and analysis function, establishing clear objectives and guidelines for the annual budget process and the strategic allocation of all airport funds.
• Actively monitor industry trends, implement best practices, and develop short and longterm strategies designed to maximize all available airport revenue streams.
• Actively assist in the pursuit of Federal, State and other grant award opportunities.
• Provide input and recommendations on all potential leases, agreements and other contracts, as directed
• Design, implement, and maintain rigorous internal controls to safeguard the organization's financial assets, ensure compliance with all regulatory requirements, and guarantee transparent financial reporting.
• Ensure perpetual adequate cash flow to meet operational needs and strategic objectives, including securing essential funding and financing as may be required.
• Prepare financial statements, reports, and financial analyses.
• Oversee development and management of the annual budget and capital improvement plan.
• Manage fiscal reporting and compliance for Federal, State, and other grant programs.
• Ensure compliance with all applicable financial regulations.
• Oversee internal and external audits and serve as the primary point of contact for auditors.
• Ensure proper billing and accounting for leases, permits, and agreements.
• Monitor general ledger activity, journal entries, and financial allocations.
• Perform bank reconciliations and analyze financial performance indicators.
• Manage airport credit card programs and taxexempt purchasing programs.
• Coordinate bond issuance and maintain relationships with financial advisors and bond counsel.
• Attend relevant professional meetings and conferences.
• Direct and manage changes and updates of the computerized accounting systems.
• Provide strategic leadership to the finance team.
• In coordination with the Executive Director, provide executive oversight of all procurement and contract management activities, ensuring the airport’s fiscal interests are meticulously represented in all business agreements and negotiations, all aspects of risk management, including evaluation of existing risk management policies and practices, evaluation of current and proposed insurance coverages and ensuring the airport has proper coverages in place.
• Work closely with the Business Development Manager to maintain lessee compliance and ensure accurate communication with tenants and stakeholders.

The above duties, functions and responsibilities are not exhaustive. The Director of Finance will perform other reasonable and appropriate duties as assigned.

SUPERVISORY RESPONSIBILITY: This is a supervisory position with direct reports and the following responsibilities:

Oversee and coordinate activities of finance staff; communicate job expectations; establish goals and objectives; respond to grievances and recommend resolutions; recommend hiring, promotional and disciplinary actions; approve leave requests and overtime; provide adequate coverage during staff absences.

KNOWLEDGE, SKILLS & ABILITIES

Candidates must possess the required knowledge, skills, abilities, and experience to demonstrate, with or without reasonable accommodation, that the essential functions of the job can be performed effectively.

Knowledge
• Comprehensive knowledge of Generally Accepted Accounting Principles (GAAP) and specific expertise in Governmental Accounting Standards Board (GASB) pronouncements, principles, and financial reporting requirements.
• Knowledge of Federal, State, and Local laws, regulations, and ordinances affecting finance, including principles for cost of service, cost allocation, and rate design.
• Indepth knowledge of capital financing and debt instruments, including the mechanics of bond issuance (general obligation, certificates of obligation, revenue bonds, etc.), disclosure requirements, and ongoing bond compliance.
• Expertise in strategic business planning, reengineering, organizational change strategies, performance measurement, financial control methods, forecasting, and enterprise risk management.
• Knowledge of current and emerging trends within the financial industry, with a focus on implementing best practices in finance functions.
Skills
• Exceptional skill in longrange fiscal planning, developing comprehensive budgets, managing revenues, controlling expenses, and allocating complex financial resources to execute strategic operational plans.
• Superior skill in translating complex fiscal data and financial concepts into easily understood, actionable language for diverse internal and external stakeholders (e.g., the airport director, commission members, tenants, and operational staff).
• Skill in representing the airport’s fiscal interests in negotiations and effectively coordinating between local government jurisdictions, internal business units, and external regulatory agencies.
Abilities
• Ability to develop flexible and adaptable strategies to achieve organizational goals by understanding shifting market conditions, the regulatory environment, technological advancements, and internal capabilities.
• Skilled in the use of Microsoft Excel and the Microsoft Office Suite of programs. Ability to adapt to airportspecific fiscal and ERP platforms and assist in organizationwide adoption of new and/or revised platforms. (Experience in this is preferred).
• Ability to communicate complex information clearly and persuasively, both verbally and in writing, at an executive level to include graphics of financial data and analysis such as pivot tables.
• Ability to make sound, innovative decisions and develop effective approaches to deal with frequent changes, unexpected events, conflicts, and uncertain situations inherent in airport operations.
• Ability to design and implement short and longterm strategies/programs that are scalable, efficient, and effective within a large and complex public organization.
Minimum Qualifications:
• Graduation with a bachelor’s degree from an accredited college or university in Public or Business Administration with concentration in Finance/Accounting, or in an academic program related to the position; plus at least eight (8) years of seniorlevel experience in financial positions, including six (6) years of experience which were in a managerial or executive capacity.
• Experience in finance and accounting within the aviation industry and/or governmental accounting is preferred, but not required
• Graduation with a master’s degree from an accredited college or university may substitute for up to two (2) years of the required experience.
Licenses and Certifications:
• CPA (Certified Public Accountant) Preferred
• CGFM (Certified Government Financial Manager) Preferred
PHYSICAL DEMANDS:

While performing the duties of this job, the employee is regularly required to sit, walk, talk and hear. The employee is occasionally required to stand and reach with hands and arms. The employee is occasionally required to lift up to 10 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential duties and responsibilities.

OTHER REQUIREMENTS:
• Candidate must be able to pass the required FBI fingerprintbased criminal history record check in addition to prehire and random drug and alcohol screenings.
• Candidate must always display an appropriate level airport badge (provided by the airport).
• Candidate must possess and keep current a valid Virginia Driver’s License.