Chief Financial Officer

Job Description

Job Description

IPHI is experiencing rapid growth across our program areas; the CFO role presents a compelling opportunity for a dynamic and strategic nonprofit finance leader. The CFO will partner with a passionate and dedicated team of nearly 50 staff to execute new initiatives and create sustainable financial solutions that advance health justice in Illinois’ most vulnerable communities and nationwide. As a member of the senior leadership team, the CFO will help IPHI manage and enhance our recent growth and contribute to the development and attainment of our strategic goals.

We seek a leader who can promote best practices in non-profit financial management while upholding the highest standards of integrity and fiduciary responsibility. The CFO will play a critical role in guiding the organization through change management, designing and implementing initiatives to strengthen financial infrastructure, and ensuring operational effectiveness. The CFO will supervise the outsource finance team and will partner closely with programmatic leadership. Within available resources, the CFO will be able to expand the team to meet identified operational or strategic needs. The CFO serves as the liaison to the Board of Directors and Executive Committee on financial, operational and administrative information. This position is full-time, exempt, and reports to the CEO. IPHI’s standard work week is 37.5 hours.

DUTIES AND RESPONSIBILITIES
General

• Develop a strategic financial vision for the organization, in collaboration with the CEO, and ensure alignment with IPHI’s mission, vision, and strategic plan
• Oversee organizational, team growth by guiding the development and implementation of multi-year strategies to enhance revenue, develop high-impact strategic partnerships, and develop and enhance the financial and operational effectiveness of the organization
• Direct the seamless integration of financial and operational initiatives across departments and ensure synergy within the broader organizational framework and strategic plan

Finance & Accounting

• Develop and oversee financial strategies and operations by analyzing financial information and making recommendations to improve performance and support decision making
• Develop and refine financial policies, procedures, systems and internal controls
• Oversee the development of and closely monitor the annual organizational budget
• Oversee the development financial projections and make recommendations to ensure appropriate spending levels
• Partner with program staff to prepare budgets and pricing for funding proposals.
• Support program and accounting staff to manage and monitor program and project budgets and ensure that actual revenues and expenses align
• Oversee monthly, quarterly, and annual closing and preparation of accurate and timely financial statements, financial reporting, tax filings and the audit activities
• Lead processes to develop, win approval and manage IPHI’s negotiated federal indirect rate
• Ensure compliance and timely submissions of materials for Illinois’ GATA requirements
• Monitor and ensure adequate cash flow, including overseeing federal cash drawdowns and reporting to ensure timeliness and compliance with cash transaction regulations.
• Oversee grant and fee for service receivables
• Oversee banking relationships and serve as the primary liaison with all financial institutions, oversee and monitor banking and credit activities of the organization.
• Lead training of and provide support to all staff to understand and comply with financial policies and procedures
• Oversee the development and supervision of the finance department staff to conduct and implement day-to-day accounting and financial activities, including A/R, A/P, payroll, reconciliations, monthly expense allocations, accruals, preparation of financial reports, and cash management activities
• Make recommendations on investment portfolio and operational reserves

Expectations & Leadership Behavior

• Clearly communicate the organization’s vision and strategic priorities, ensuring all team members understand and align their efforts accordingly
• Balance risk-taking with sound judgement, ensuring decisions are well-informed, thoughtful, and aligned with the organization’s mission, vision, values, and strategic goals
• Build, exhibit, and maintain a culture of accountability, trust, and inclusion, setting high standards for personal and professional conduct
• Proactively address challenges within teams, fostering professional growth and ensuring that concerns are appropriately escalated to HR; Collaborate with HR and CEO to identify and mitigate team risks, creating a supportive and secure work environment

Teamwork & Team Relationships

• Foster an optimal collaborative work environment that encourages cross-functional teamwork and shared accountability on complex issues and partnerships
• Identify, administer and improve policies and processes to ensure the safety and security of staff, visitors, and partners in the office and at IPHI events and programs

External Relationships

• Build and maintain strategic partnerships with funders, government agencies, and other organizations, in partnership with the CEO

Supervision

• Set direction, focus and objectives for team, providing oversight management
• Coach and evaluate team performance

Grant, Resource, & Finance Development

• Partner with programmatic leads on business development for the organization to generate revenue through consulting, fee-for-service, and grant opportunities
• Identify new business opportunities within existing and emerging partnerships that enable to organization to generate additional revenue.
• Partner with programmatic leads to develop and manage budgets for multiple projects; course correct when necessary; works with outsourced finance team and program team to ensure organizational budget represents current and future work
• Partner with the COO to ensure an effective contract management process, including review and negotiation; timely, accurate reporting; proper financial controls; and budget management and performance tracking
• Partner with the COO to manage procurement processes and practices to ensure compliance with contractual and grant requirements, efficiency and cost effectiveness

Planning and Stewardship of Money

• Partner with the COO, negotiate and oversee manage capital purchases and facilities leases, manage leases and assets, and oversee communications and interactions with the landlord and other external facilities partners
• Ensure institutional records are maintained in an accessible yet secure manner and oversee records retention policies and procedures
• Review and approve invoices in Bill.com

Administration Management

• Manage administrative tasks related to employee supervision
• Oversee recruitment, hiring, onboarding and training, engagement and retention, promotions, and terminations for the financial team
• Partner with the COO to ensure compliance with state and federal laws such as ACA, ADA, EEOC, and FLSA
• Work with leadership team and managers to conduct financial planning trainings and develop and implement professional development activities

Other duties as assigned.