Director of Finance
SALARY RANGE: $110,000 – $130,000
ABOUT CITY FIRST ENTERPRISES
City First Enterprises helps achieve racial, economic, and social equity by providing underinvested communities with access to capital and financial expertise. A social impact loan fund, our borrowers are entrepreneurs and innovators who work in affordable housing, education, small businesses, the nonprofit sector, and on climate-focused initiatives, in particular green energy. With decades of experience as a Community Development Financial Institution, or CDFI, CFE has an unparalleled legacy of frontline community development in the DC and Baltimore metropolitan areas, and will be expanding to serve the Los Angeles metro area later this year.
CFE is part of the City First family of organizations, including City First Bank.
The Director of Finance is a senior role within CFE’s leadership team, responsible for the accounting and financial operations of the organization, including the maintenance of an adequate system of accounting records and the production of periodic financial reports. The position is tasked with the design and management of a comprehensive set of controls and budgets designed to mitigate risk, enhance the accuracy of the organization’s reported financial results, and ensure that reported results comply with generally accepted accounting principles or international financial reporting standards.
Reporting to the CEO, the Director of Finance performs finance and accounting functions including day-to-day operations in connection with budget development, payroll, payables, grant billing, daily transaction processing, month-end and year-end closes, monthly financial report preparation (e.g., Finance & Audit Committee and Board financial presentations), cash flow planning/analysis, and outside audit facilitation. The position is also tasked with the production and submission of periodic financial and programmatic reports to creditors, funders, and partners.
The Director of Finance position is an expanding role within CFE. Working initially in close collaboration with our external CFO, the position is expected to evolve into a CFO position in the near future.
ESSENTIAL FUNCTIONS AND RESPONSIBILITIES
- Maintain all systems of accounts and records; develop and implement accounting policies, coordinate systems and procedures, and prepare financial analyses and reports.
- As an integral part of the management team, establish, coordinate and/or administer a plan for the control of operations, including programs for capital investing and financing, forecasting, and budgeting
- In conjunction with the CEO and CFO, monitor activity against the budget and adjusts the forecast accordingly
- Oversee annual audit and tax return reporting, and assist with the oversight of all other compliance requirements of the organization
- Provide other members of the leadership team with the financial information required to carry out their duties and responsibilities
- Assure the protection of assets through internal control and proper insurance coverage
- Manage the cash flow of the organization in conjunction with the CEO and CFO through timely cash flow forecasting that evolves as necessary as events occur
- Review and approve all financial transactions prior to execution
- Establish strong relationships with funders and lenders
- Manage banking and investment relationships
- Ensure accurate and timely financial reporting, on a monthly basis, to the CEO and the Audit and Finance Committee
- Serve as a resource to the CEO on all matters related to overall organization objectives.
- Record daily cash transactions
- Enter payroll transactions into the general ledger
- Ensure that accounts payable are properly recorded and paid in a timely manner
- Record all grant activity and ensure appropriate documentation is maintained
- Ensure that accounts receivable are collected promptly
- In conjunction with the Portfolio Operations Director, track the life cycle of loans; review and monitor loan activity
- Ensure that monthly bank reconciliations are completed timely
- Reconcile other balance sheet accounts as required
- Ensure that required debt payments are made on time
- Maintain an orderly accounting filing system
- Maintain a system of controls over accounting transactions
QUALIFICATIONS, EXPERIENCE, and EDUCATION
- Bachelor’s degree in Accounting/Finance, CPA
- At least 7 years’ experience in a financial role, with at least 3 in a management position
- Experience with federal government grant reporting requirements
- Experience with multi-programming/fund accounting
- Familiarity with federal grant reporting requirements and uniform guidance single audits
- Experience with Intacct and/or other accounting platforms
- Experience working with a Board of Directors in a non-profit financial role
- Experience working with multiple entities, affiliates, and CDFIs a plus
- Experience working in/with a bank
In short, we are looking for an individual who would help us improve how we work day-to-day and maximize the growth and impact of our organization in the long term. We seek a team member who will provide competent, thorough, courteous, and efficient service to other team members, as well as our external stakeholders, with minimal direction, guidance, and oversight.
In addition to a competitive salary of $110,000-$130,000, commensurate to experience, CFE offers a generous benefits package that includes employee-sponsored health and dental, life insurance, a health savings account with annual employer contributions, a retirement plan with employer matching, paid parental leave, and a generous paid time off program.
Our robust benefits package includes:
- 403b with employer match
- Medical and dental insurance with employer contribution
- $2,800 annual HSA employer contribution for a family; $1,400 for an individual
- 16 days combined vacation and personal days to start; more after three years
- 11 paid holidays
- 5 paid sick days
- Employer-paid short-term and long-term disability insurance
- Flexible time for personal appointments
- Work from home or the office as desired
- Paid transportation (Metro or parking)
- Employer-paid life insurance
WORKING AT CFE
CFE offers a unique, start-up-like work environment that is open, innovative, and collaborative. We are committed to serving the communities we work and live in by leveraging financial tools, creativity, and technology. CFE is the right fit for intellectually ambitious individuals, willing to work hard and always holding oneself accountable to a high bar of performance.
We are dedicated to promoting diversity, multiculturalism, and inclusion in our work and hiring practices. City First Enterprises’ mission is entirely focused on equality and economic inclusion, and we believe that diversity in opinion and background only helps further our goals.
Selected candidates will be contacted for an initial phone screen on a rolling basis.
Please email resume and cover letter to email@example.com. No phone calls please.
CFE IS AN EQUAL OPPORTUNITY EMPLOYER.
We provide equal employment opportunities to all people regardless of ethnicity, age, religion (and lack thereof), disability that can reasonably be accommodated, marital status (including domestic partner status), ancestry, nationality, national origin, family status, sex (including pregnancy, childbirth, and related medical conditions), other medical condition (physical or mental), AIDS/HIV status, genetic information, sexual identity, gender identification (including transgender status), sexual orientation, and veteran status.