The Chief Financial Officer and Chief Operating Officer is a critical partner to the President/CEO. The CFO/COO is the top financial and administrative position with responsibility for overall financial management, formulating financial policy and plans, investment oversight, human resources, information technology and other administrative responsibilities. The CFO/COO provides strategic direction and executes the accounting, tax, financial analysis and reporting, budget, investment, insurance, audit, treasury and human resource functions.
The CFO/COO seeks to minimize financial risk to the Foundation and ensure that financial transactions, policies, and procedures meet the Foundation’s short and long-term objectives, needs and regulatory requirements. The CFO/COO works closely with the President and the Board of Directors to support their governance responsibilities. They will work closely with the President and the staff team to provide leadership, promote teamwork and collaboration across the Foundation in furtherance of the mission.
The CFO/COO will be a trusted partner and resource to all members of the Foundation. PRIORITIES AND RESPONSIBILITIES: Build a mission-driven budget through broadly engaging staff members in the strategic decision-making process, effectively communicating budget priorities to diverse stakeholders, including the Board and the program staff. The budget Includes grant making, operating expenses, capital, and cash; Monitor actual performance and reforecast, as necessary. Develop and maintain planning and budgeting tools and analysis.
As the staff member of the Investment Committee, ensure the security of the Foundation’s investment portfolio (the Foundation’s sole funding source), manage liquidity (cash) risk, monitor the investment performance of the portfolio, assist with annual update and execution of the Investment Policy Statement for good governance and account for all investment transactions
Perform accurate monthly accounting close including maintenance of financial systems and reporting tools as well as appropriate supporting documentation.
Preparation of accurate and meaningful financial reports – including monthly reports with narrative, periodic Board presentations and government filingsAnalyze and interpret financial results via monthly trends, comparisons to prior year and budget, benchmarking, etc.; identify areas requiring attention; present findings and specific recommendations to President and Board, as appropriate.Working with program staff, monitor and communicate Foundation’s progress toward meeting IRS Minimum Distribution Requirement
Prepare and execute accounts payableSupervise the custody and banking relationships and functionCoordinate annual external audit and preparation of financial statement report with footnotesWork with outside tax preparers to prepare and file annual tax return (Form 990PF) and other state returns; calculate and submit estimated quarterly tax deposits, monitor Foundation’s compliance with tax regulations to maintain exempt status
With President, responsible for effective and efficient internal controls to safeguard the assets and minimize financial risk.Include review and approval of financial obligations (i.e. contracts) and transactions (disbursements, grants, investments)Working with the President to ensure that all staff have defined job responsibilities, written goals, annual performance evaluations, staff development/training plansConduct annual salary benchmarking and present to the BoardReview and update the personnel manual, at least annually, as appropriate.
Ensuring compliance with all federal and local regulations.Identify best practices for considerationIn conjunction with outside provider, prepare semimonthly payroll.
Review provider’s annual preparation of Forms W-2. Prepare 1099sServe as plan administrator for retirement plan, including compliance, benefit contributions, and participant communicationSecure and monitor employee benefit insurance plans.
Serve as group administratorEvaluate and maintain the business insurance policies, including workers compensation, property and riskResponsible for Foundation’s office space lease.Ensure efficient and effective information technology issues with Executive Assistant
WORK ENVIRONMENT:This is a full-time position based in Chicago
The Foundation’s staff are currently working remotely and taking all necessary precautions due to COVID-19. This position will likely remain remote for the foreseeable future. Ordinarily, this position operates primarily in an accessible office environment in Chicago
While performing the duties of this job, the employee is regularly required to talk or hear and use hands to operate office equipment such as computers, phones, photocopiers, scanners, filing cabinets
Workplace is a smoke-free and drug-free environment Equal employment opportunity and having a diverse staff are fundamental principles at the Coleman Foundation, where employment and promotional opportunities are based upon individual capabilities and qualifications without regard to race, ethnicity, color, creed, religion, sex, sexual orientation, gender identity or expression, age, national origin, citizenship status, military service and/or marital status, order of protection status, handicap, disability, or any other factor determined to be unlawful by federal, state, or local statutes.