The Role
The Vice President and CFO leads financial strategy, oversees finance and IT departments, manages financial reporting, and ensures organizational financial health.
Summary Generated by Built In
TITLE: Vice President and Chief Financial Officer
REPORTS TO: Chief Executive Officer
STATUS: Exempt; full-time, 1 FTE (40 hrs/wk)
LOCATION: Minneapolis. Primarily onsite, some remote work possible
COMPENSATION $130,000 - $175,000
Job Summary
The Vice President and CFO plays a key leadership role in guiding MacPhail’s financial and mission success and reports directly to the CEO. This includes financial strategy, risk management, planning and analysis, and ensuring the overall financial health of the organization. The Vice President and CFO directly oversees the internal accounting & finance team, the internal IT team, manages relationships with financial institutions, and is a key liaison with the board Audit & Finance and Investment Committees. The Vice President and CFO will lead in a manner based on MacPhail’s core values of creativity, collaboration, responsive listening, access and inclusion, and accountability.
RESPONSIBILITIES & ESSENTIAL FUNCTIONS
Leadership
Functional Department Oversite
Accounting, Financial Reporting, and Treasury
REPORTS TO: Chief Executive Officer
STATUS: Exempt; full-time, 1 FTE (40 hrs/wk)
LOCATION: Minneapolis. Primarily onsite, some remote work possible
COMPENSATION $130,000 - $175,000
Job Summary
The Vice President and CFO plays a key leadership role in guiding MacPhail’s financial and mission success and reports directly to the CEO. This includes financial strategy, risk management, planning and analysis, and ensuring the overall financial health of the organization. The Vice President and CFO directly oversees the internal accounting & finance team, the internal IT team, manages relationships with financial institutions, and is a key liaison with the board Audit & Finance and Investment Committees. The Vice President and CFO will lead in a manner based on MacPhail’s core values of creativity, collaboration, responsive listening, access and inclusion, and accountability.
RESPONSIBILITIES & ESSENTIAL FUNCTIONS
Leadership
- Partner with the CEO on financial strategy and guidance relating to achieving the goals of the organization.
- Member of MacPhail’s Senior Leadership team providing updates, insights and input to guide decision making and business direction.
- Lead the Finance & Accounting and IT functions that support the organization’s teams, programs, projects, budgets, and mission success.
- Partner with the Development team for financial planning, reporting, and management of contributed revenue.
- Partner with Music Program leadership team to provide reporting and insights that guide balance between mission and money as it relates to program profitability.
- Inform the MacPhail Board of MacPhail’s financial efforts on a regular basis. Provide recommendations and active involvement in staffing the Audit and Finance Committee (AFC) of the Board of Directors.
- Coordinate Board AFC and Investment committee meeting content.
Functional Department Oversite
- Lead finance and IT department employees, providing direction for continuous improvement of processes, technology, and insights to ensure all investments and technology resources support the mission of the organization.
- Guide development of accounting procedures, practices, and internal controls that ensure transparency, accountability, and engagement in the financial sustainability of the organization.
- Responsible for investment in technology and infrastructure that supports the mission of the MacPhail; assist with vendor management to ensure financially sustainable information technology function.
- Responsible for reviewing all key organizational contracts to assess terms and challenge costs for supporting organizational functions.
- Participate in organizational wide learning, development, and culture building activities.
- Perform other duties as assigned.
Accounting, Financial Reporting, and Treasury
- Oversee financial reporting, forecasts, dashboards, and analysis to monitor financial performance and guide decision making.
- Manage cash flow, including monitoring bank balances, processing account transfers, and reporting on endowed investments and their usage.
- Complete the final review of monthly accounting, ensuring accuracy of numbers and ability to use information to review financial performance versus budget and prior year expectations.
- Oversee relationships with banks and professional service providers.
- Lead the annual budget development process that aligns with strategic plans and goals.
- Oversee compliance and outside evaluation, including annual audit and tax return preparation.
- Bachelor’s degree in accounting, finance, or a related field required; CPA certification preferred.
- 15+ years of experience in accounting and/or financial management, non-profit industry preferred.
- 10+ years of experience successfully supervising and managing staff and teams.
- Excellent communication, leadership, and interpersonal skills.
- Mastery of and proficiency implementing FASB standards and GAAP accounting principles, including knowledge of nonprofit accounting.
- Strategic, cross-functional thinker with a strong desire to move towards implementation and action.
- Excellence in managing projects from conception to completion.
- Ability to work collaboratively and effectively with all levels of the organization.
- Consistency and goal orientation, problem-solving aptitude, flexibility, creativity, discretion, and passion for MacPhail’s mission and values.
- Demonstrated commitment to diversity, equity, and inclusion.
Skills Required
- Bachelor's degree in accounting, finance, or related field
- CPA certification
- 15+ years of experience in accounting and/or financial management
- 10+ years of experience supervising and managing staff
- Mastery of FASB standards and GAAP accounting principles
- Excellent communication, leadership, and interpersonal skills
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The Company
What We Do
Mission: To transform lives and communities through exceptional music learning. Vision: To provide students of all backgrounds and abilities access to exceptional music learning experiences through extraordinary faculty, innovative programs and integrated learning technology to create successful outcomes. MacPhail offers the best music education in the region in 35 instruments at 132 different locations throughout the Twin Cities and statewide, serving 16,000 students annually.
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