WHAT DOES A DIRECTOR OF FINANCE AND OPERATIONS DO?
Updated: Mai 28, 2025 - The Director of Finance and Operations manages financial and operational processes to ensure compliance with policies, providing data and reporting to key stakeholders. This role involves overseeing audits, tax return preparation, and managing budgeting, forecasting, and cash flow, while also handling financial risk and resource management. Additionally, the Director is responsible for HR management, procurement of contracts and insurance policies, and ensuring technological support for the organization.
A Review of Professional Skills and Functions for Director of Finance And Operations
1. Director of Finance And Operations Duties
- Board Meeting Management: Own board meeting planning, agendas, minutes, and compliance.
- Payroll and Registration Management: Manage state payroll registration, charitable registration, and workers' comp insurance with the support of a vendor.
- Legal Relationship Management: Manage the relationship with legal counsel for non-employment matters, including owning agendas, managing action items, and coordinating organizational legal needs.
- Finance and Budgeting Management: Manage relationship with shared service provider for finance and budgeting, including owning meetings and project managing processes.
- Budgeting Process Facilitation: Own facilitation of the budgeting processes for departments and ventures, and manage internal budget processes with shared service provider.
- Financial Reporting and Reconciliation: Own creating income statements and budget vs. actual reports, reconciling revenue and expenses, managing bank accounts, managing financial systems and trackers, expense reporting, revenue reporting, and partner invoices and payments.
- Accounting Oversight: Provide oversight by ensuring the accuracy of journal entry allocations and changes and by monitoring all accounts payable and accounts receivable and staff reimbursements.
- Contract Management: Manage partner contract development and renewals.
- Contractor Hiring and Onboarding: Oversee contractor hiring, onboarding, legal processes and compliance, invoicing, and payments.
- Operational Tech Management: Manage operational tech tools and computer reimbursements.
- Tech Asset and Security Oversight: Oversee tech asset tracking, Google Workspace, and organizational tech security implementation.
- Staff Retreat Management: Oversee staff retreat planning and implementation.
- Fundraising Data and Reporting: Oversee acknowledgment letters, correspondence about the status of donations, accurate data entry in the fundraising CRM and other revenue tracking, and partner grants.
- Grant Reporting: Oversee grant financial reporting and the on-time submission of grant proposals and reports.
- Team Coaching and Support: Own coaching, supporting, and growing the team of staff in the department.
- Strategy and Methodology Development: Shaping the strategy and methodology for Accelerate Change, in collaboration with the rest of the Senior Leadership Team.
2. Director of Finance And Operations Details
- Senior Leadership Team Leadership: Provides leadership as a member of the senior leadership team and promotes the development and implementation of the Foundation’s strategic plan.
- Policy and Process Leadership: Provides leadership in the development and application of the Foundation’s policies, processes, and procedures.
- Budget Development and Adherence: Leads the Foundation in the development and adherence of budgets.
- Financial Statement Preparation: Prepares the annual financial statements and manages the relationship with external auditors.
- Management Reporting: Prepares management reports to CEO, Manager, and Board of Directors.
- Fund Management: Manages designated and endowment funds in accordance with donor’s wishes.
- Accounts Payable and Receivable Management: Manages accounts payable and accounts receivable.
- Team Leadership: Provides leadership to the finance, operations, and Gift Shop staff to provide administrative support to the CEO, Board of Directors, and the Development team.
- Human Resources Management: Manages Human Resources in accordance with Foundation policies and under the direction of the CEO.
- Information Management Systems Integrity: Ensures integrity of information management systems is maintained and systems meet the Foundation’s needs.
- Information Management Systems Project Management: Project management of information management systems upgrade.
- Board and Committee Support: Supports the CEO in reporting at Board and Committee meetings.
- Budgeting and Financial Expertise: Subject matter expert in budgeting, strategic planning, cash management, forecasting, reporting, and optimization.
- Financial Reporting: Provide financial insight and analysis to the executive leadership team.
- Financial Statement Preparation: Prepare all financial reporting including Cash Flow, Balance Sheets, and P&L Statements.
- Tax and Audit Compliance: Ensure that all appropriate tax filings and audit financials are accurate and submitted on a timely basis.
3. Director of Finance And Operations Responsibilities
- Financial and Operational Compliance Oversight: Oversees all financial and some operational processes to ensure compliance with stated policies and procedures.
- Financial Data and Reporting: Provides financial data and reporting for committees, the President, the Board, and grant writer.
- Risk Management: Recognizes potential financial risk for the organization and initiates plans of action to avoid and minimize liability.
- Financial Resource Management: Effectively manages financial resources and expenses to achieve WBG’s objectives.
- Staff Management and Training: Manages and trains accounting staff to achieve sound financial and operational processes, and works with other staff to improve interdepartmental efficiencies.
- Audit and Tax Compliance: Responsible for oversight of all audits and tax return preparation and fiscal year-end review and activities.
- Financial Planning and Strategy Oversight: Oversees the processes of financial planning and strategy including cash flow analysis, budgeting, and forecasting for the organization, including working with the Construction Manager on capital expense planning and timing.
- Contract and Transaction Oversight: Ensures proper oversight and documentation for contracts, insurance policies, permits, donor commitments, and support for all financial transactions.
- Contract and Invoice Review: Reviews contracts and invoices for services and repairs.
- Building Rentals Management: Oversees the management of building rentals, including management of contracts, payments, budget monitoring, and communicating with vendors and rental customers.
- Event Procurement and Compliance: Ensures proper procurement of contracts, insurance policies, and permits for events.
- Record Keeping and Reporting: Provides appropriate record-keeping and reporting.
- Human Resources Management: Responsible for HR management including onboarding, benefits management and administration, and state and federal compliance.
- Technology Support Management: Responsible for technological support for the organization, including outsourcing IT needs as appropriate, and oversight of expenses and implementation.
4. Director of Finance And Operations Job Summary
- Financial Reporting: Prepare monthly, quarterly, and year-end financials in an accurate and timely manner, and review and clearly communicate the implications of these reports to the CEO and NSA Board.
- Compliance with Accounting Standards: Ensures that all NSA accounting is in accordance with GAAP, non-profit accounting principles, and standards.
- Policy and Procedure Adherence: Ensures staff follow established procedures, updates the accounting and policy manuals, ensures completeness and accuracy of all financial records and transactions, and keeps current on new accounting principles to ensure timely compliance and implementation.
- Budgeting and Planning: Leads the organization on the annual budgeting exercise and planning process in conjunction with the CEO to have the budget completed and presented to and approved by the Board in a timely manner.
- Investment Portfolio Monitoring: Monitors, in close cooperation with the CEO and Board’s Finance Committee, the performance of the organization’s investment portfolio and works closely with the Finance Committee to ensure timely reporting and monitoring of investment policies.
- Liquidity and Restricted Funds Management: Managing liquidity needs and overseeing the management of various restricted investment funds.
- Cash Flow Management: Manages organizational cash flows and forecasting.
- Financial Controls and Risk Assessment: Maintains appropriate financial and operational controls, institutes controls if lacking, according to audit findings and overall best practices, including timely policy updates, establishing review procedures, and implementing periodic reporting on control/risk assessment matters.
- Statutory Filings Compliance: Ensures the timely submission of statutory filings such as Federal and State.
- 401k Plan Administration: Responsible for the administration of NSA’s 401k plan, including the submission of Form 5500, mailing relevant documents to participants, and compliance with fiduciary responsibilities.
- Payroll Processing Oversight: Oversees accurate processing of payroll according to IRS rules and regulations through a 3rd-party provider.
- Audit and Tax Preparation Coordination: Coordinates and leads the annual audit and tax preparations and filings, liaises with external auditors, the Finance Committee, the Audit Committee, and the NSA Board to ensure timely reviews and submissions of filings.
- Human Resources Oversight: Oversees the overall HR function including onboarding of new staff, maintenance of appropriate records, and works to ensure compliance with NSA policies and U.S. labor law.
- Insurance Policy Management: Oversees the Operations Manager on the review and renewal of all insurance policies that affect the organization, including ones related to facilities, liability, health, benefits, and safety.
- Policy and Procedure Review: Conducts an annual review of all policies and procedures for the organization and staff, and ensures that all staff, consultants, and volunteers are informed of procedures and are in compliance with them.
- Contracts and Financial Management: Oversees an effective contracts management and financial management/reporting system.
5. Director of Finance And Operations Accountabilities
- Financial Systems Development: Guide the development and implementation of financial systems that achieve sustainable growth, efficiency, and stability for the organization.
- Finance Team Leadership: Lead the Finance Team, including supervision of accounting staff, providing strategic direction and evaluation.
- Day-to-Day Accounting Operations: Direct day-to-day accounting operations including oversight of accounts payable and receivable, payroll, accounting data recording, and reporting.
- Risk and Investment Assessment: Assess risks and investments and monitor expenditures.
- Development Team Support: Support the Development Team by managing government, foundation, and partner contracts and providing financial reports and information required for communications and requests, including grant applications, grant reports, site visits, and other queries.
- Monthly Financial Systems Management: Develop and manage monthly financial systems to ensure accurate, relevant, and timely reporting of all financial data.
- Budgeting Oversight: Responsible for the annual budgeting process.
- Board Liaison: Serve as the primary liaison to the Board of Directors' Finance Committee, working closely with the committee to strengthen Adelante’s financial systems.
- Facilities Management Oversight: Oversee management of Adelante’s facilities, including optimal operations of a 17,000 SF building with Early Childhood Classrooms for 60 children, outdoor playground, adult education classrooms, Youth Makerspace, commercial kitchen, and offices.
- Facilities Maintenance Supervision: Supervise Facilities Maintenance Coordinator including janitorial, security, ongoing maintenance, and building improvements.
- Vendor Contract Management: Support and manage facilities and IT vendor contracts.
- IT Strategy Development: Lead development of IT strategy and implementation of any new IT processes.
- Strategic Financial Direction: Collaborate with the Board of Directors and staff to set and implement the organization’s strategic financial direction.
- Financial Procedures Coaching: Coach the management team on financial procedures and laws, encourage a participatory work environment where mission-focus, trust, and teamwork are highly valued.