CHIEF FINANCIAL OFFICER

National Investment Company - Dover, DE

Full-time - Executive

Dover, DE

Real Estate

About the position

The Chief Financial Officer (CFO) at Charles River School is responsible for managing all aspects of the school's finances, which includes strategic financial planning, budgeting, accounting, and reporting. This role also encompasses oversight of human resources functions, the physical plant, and food services operations. The CFO will report directly to the Head of School and will be a key member of the senior leadership team, participating in several Board of Trustees committees. The ideal candidate for this position is a mission-driven strategic thinker with a strong sense of judgment and integrity, preferably with experience in an independent school setting, and a demonstrated commitment to equity and inclusion. The next CFO will manage an operating budget exceeding $8 million, supported by an endowment of $10 million. The successful candidate must exhibit the ability to navigate conflicting demands and timelines in a dynamic school environment, effectively balancing and prioritizing the competing needs of the institution. The role requires leadership and management of the day-to-day operations of the business office, which includes payroll, accounts receivable, accounts payable, accounting, and school supply functions. Collaboration with the Head of School on financial aspects of strategic planning initiatives is essential, as is the oversight of the physical plant and food services operations. In addition to these responsibilities, the CFO will supervise the Business Office Associate and the Director of Facilities, manage the auditing process, and direct the annual operating budget. They will also be responsible for preparing forecasts of the school's financial condition and reporting to the Head of School, Finance Committee, Audit Committee, and Board of Trustees on operational results, future projections, and annual audits of financial statements. The CFO will provide financial information and planning that fosters trust among faculty, administration, staff, the Board of Trustees, and the parent community. Furthermore, the role involves liaising with the endowment portfolio manager and ensuring compliance with governmental regulations and the evolving regulatory environment.

Responsibilities

• Provides leadership, oversight, and management of the day-to-day operation of the business office including payroll, accounts receivable, accounts payable, accounting, and school supply functions.
• Collaborates with the Head of the School on financial aspects of strategic planning initiatives.
• Oversees the physical plant and food services operations.
• Effectively supervises Business Office Associate and Director of Facilities.
• Manages and oversees the auditing process.
• Manages, develops, and directs the annual operating budget.
• Plans and prepares forecasts of the financial condition of the school.
• Reports to the Head of School, the Finance Committee, the Audit Committee, and the Board of Trustees on the results of the present operations of the school, pro forma projections for future operations, and annual audits of the financial statements of the School.
• Provides the financial information and planning that builds trust among faculty, administration, staff, the Board of Trustees, and the parent community.
• Liaisons with the endowment portfolio manager, providing information on invested funds and implementing decisions of the Board and Finance Committee.
• Maintains compliance with governmental regulations and changing regulatory environment by staying current on laws and regulations that may affect compliance.
• Establishes policies, procedures, standards, and strategies for areas of responsibility and provides appropriate internal controls and strengths to safeguard the school's assets.
• Oversees the risk management function and purchases property, casualty, liability, and workers compensation insurance.
• Manages human resources including employee relations, benefits and compensation, and safety for employees.
• Oversees and directs implementation and administration of employee benefit programs such as health insurance, dental insurance, disability insurance, life insurance, workers compensation, employee assistance, retirement and other related plans.
• Selects or approves and directly oversees relationships with business service providers (e.g., banks, auditors, attorneys, insurers, investment managers, food service and transportation providers, contractors, consultants).
• Secures the highest level of quality products and services for the school's business functions, including measurements of cost effectiveness.
• In partnership with the Head of the School and other staff and trustees, evaluates, pursues, and manages additional (non-tuition) revenue-generating opportunities using the School's resources.
• Completes other responsibilities as assigned by the Head of School.

Requirements

• Bachelor's degree required; CPA and/or MBA preferred.
• Five or more years of financial and business leadership in a non-profit or for-profit organization(s) including work with non-profit boards is a plus; independent school experience is a plus.
• Demonstrated experience in the development of analysis for strategic decision-making, including key cost drivers, competitive analysis, market analysis, etc.
• Experience developing long-range capital and operational budget planning.
• Experience in determining alternative revenue sources in a non-profit setting.
• Experience in human resource management, employee benefits, and payroll procedures.
• Demonstrated experience in measuring and improving organization-wide productivity.
• Effective collaboration skills, consistent meaningful contribution to senior leadership teams, and a focus on process as well as outcome.
• Exceptional written/verbal communication and presentation skills, including the ability to distill complex topics and communicate them effectively to varied audiences.

Nice-to-haves

• Experience in an independent school setting is preferred.
• Demonstrated commitment to equity and inclusion.

Benefits

• Medical, dental, and vision coverage
• Life insurance
• Long-term disability insurance
• Flexible spending accounts
• Retirement plan contribution
• Voluntary supplemental life insurance and long-term care coverage