WHAT IS A CFO/COO ?
The Chief Financial Officer/Chief Operating Officer (CFO/COO) reports to the CEO and serves as an integral member of the senior leadership team. The CFO/COO leads Finance, Human Resources, and Administration for AIF through the Financial Controller, Human Resource and Administrative Officer, and a Staff Accountant in the US and has matrix management with the Director (Finance and Administration) in India. The CFO/COO is tasked with contributing to the development and execution of AIF’s strategic goals. In addition, the CFO/COO is charged with enhancing the current policies, systems and procedures in Finance, HR, and Operations/Administration areas. They will ensure AIF has the financial systems in place to support the growth it seeks over the next few years. Also, the CFO/COO brings a more focused approach around the use of data to make strategic business decisions. The CFO/COO oversees risk management and ensure AIF has all the safeguards in place to protect the organization.
Need-to-Know Overview of a Chief Financial Officer/Chief Operating Officer
1. Chief Financial Officer/Chief Operating Officer (CFO/COO) Roles and Duties
- Advise the CEO and other key members of senior management on financial planning, budgeting, cash flow, investment priorities, and policy matters.
- Act as a key thought partner, brainstorming & identifying solutions to challenges
- Creating & updating organizational dashboards and annual business calendars for reviewing key performance indicators across India and the US
- Serve as the management liaison to the board and audit and Finance committees;
- Effectively communicate and present critical financial matters at select board of directors and committee meetings.
- Contribute to the development and execution of strategic goals and objectives as well as the overall management of the organization.
- Maintain continuous lines of communication, keeping the CEO informed of all critical issues.
- Represent the organization externally, as necessary.
- Oversee, direct, and organize the work of the Finance, HR /Operations, and administration teams.
- Promote a culture of high performance and continuous improvement that values learning and a commitment to quality.
- Contributes to creating and maintaining a positive organization culture that values integrity, strong work ethic, problem solving, excellence, resilience, creativity and community inclusion, both internally and externally.
- Plan and manage change management priorities; evaluate and make recommendations to the CEO on staffing/capability issues.
- Ensure staff members receive timely and appropriate training and development.
- Establish and monitor staff performance and development goals, assign accountabilities, set objectives, establish priorities, conduct annual performance appraisals, and administer salary adjustments.
- Mentor and develop staff using a supportive and collaborative approach: assign accountabilities and monitor and evaluate results.
- Upgrade and implement an appropriate system of policies, internal controls, accounting standards, and procedures.
- Establish and maintain an effective General Accounting and Finance function.
- Plan, coordinate and execute the annual budget process.
- Ensure that AIF (US) and AIFT (India) are adhering to the strategic plan, delivering status reports to the CEO and the board on a monthly/quarterly basis.
- Provide analytical support to internal management team including development of internal management reporting capabilities.
- Liaise with internal auditors on a regular basis and ensure that the annual audit is completed satisfactorily.
- Liaise with AIFT Finance team and ensure that all required control documentation is in place prior to tranche disbursements. Also, that recordkeeping is adequate for all restricted grants received from donors.
- Ensure that the foundation is in compliance with all the regulatory requirements that are applicable.
- Ensure that the legal documentation between AIF and AIFT and AIF and the partners is compliant with the requirements as outlined in the Board proceedings.
- Manage the Accounts Payable and Receivable process.
- Ensure that all Donor Advised Funds (DAF) is properly accounted for and records are maintained in a consistent fashion.
- Participate in Salary and Benefits surveys and ensure that AIF/AIFT has a competitive salary and benefits structure in place.
- Manage the relationship with Trinet/Ambrose payroll processor.
- Network with Human resources colleagues in the industry and attend the HRPANO meetings.
2. Chief Financial Officer/Chief Operating Officer (CFO/COO) Requirements and Qualifications
- At least 8-10 years of senior leadership experience with oversight across the finance, human resource, and facilities/operations functions.
- Experience translating strategic vision into operational success, experience setting and measuring performance against targets within a complex and evolving operational environment.
- The ability to quickly adapt plans as new opportunities and challenges emerge using advanced problem solving and process improvement skills.
- Demonstrated financial management skills to include cash flow, establishing policies and procedures; protecting and allocating resources; establishing success measures; and financial reporting and analysis.
- Demonstrated success ensuring budgeting, financial management, and development supports near and long-term needs and objectives.
- Demonstrated track record in change management; experience developing and implementing strategies that have taken an organization to the next stage of growth.
- Experience working closely with CEO to create a solid financial plan is required.
- Prior experience working with a board of directors and being able to communicate the financial health of the organization is preferred.
- Demonstrated ability to lead and motivate groups and individuals.
- Excellent communication and coalition-building skills with an ability to balance, negotiate, and work with a variety of internal and external stakeholders.
- Previous experience with voluntary/nonprofit 501(C)(3) organizations preferred. A strong desire for work that makes a difference in the lives of others necessary.
- High energy and result orientation; very high work capacity, and a natural fit in a fast-paced work environment in an organization on ambitious growth path
- Financial foresight, to include analytical focus, anticipate financial challenges and ability to address them is required.
- A proven strategic thinker, detail-oriented and data-driven who can align with the “Big Picture” of the organization and make recommendations to improve.
- Proactive problem solver; creative thinker with business mind-set. Impeccable multi-tasking skills.
- Strong written and verbal communication; listens well and can easily learn to communicate in someone else’s “written voice”.