Chief Financial Officer

Background

Capital for Change (C4C) is a full-service Community Development Financial Institution (CDFI) in Connecticut offering capital solutions that create and sustain lasting positive change for low-income communities, broaden social and economic participation for underserved populations, and that encourage economic growth and environmental sustainability. We champion projects of all kinds with an approach that one size does not fit all, enabling us to create high impact products and programs that create affordable housing, assist nonprofit organizations, increase energy efficiency, finance mixed-use development, and support economic and community development.

Summary

Reporting to the President & CEO, the Chief Financial Officer supports the strategic vision of this $100 million, Community Development Financial Institution (CDFI) as its lead financial spokesperson. This includes fostering and cultivating stakeholder relationships on city, state, and national levels, as well as assisting in the development and
negotiation of funding sources and related agreements, and contract and administration services.

The CFO supervises the Finance and Accounting Department, provides leadership in assuring the organization’s financial strength and its capacity to grow. The CFO identifies new lending capital and acts as primary liaison with capital partners. Driven by the company’s mission, the CFO works as a vital member of the Development Team in pursuing grant opportunities that strengthen C4C’s ability to provide affordable financial products to the markets we serve.

Through dynamic and hands-on involvement, this position works collaboratively with Senior Management on strategic and tactical matters, focusing on all aspects of financial modeling, planning and analysis, budget management, capitalization, and the controls needed to ensure the financial health of the organization. This includes using data and technology to inform process and performance improvement throughout the organization.

The CFO serves as the primary staff to the Finance and Audit Committee of the Board of Directors and works closely with the CEO and Committee Chair in the Committee’s work. This position’s core management responsibility is the oversight of the capital development, budgeting and forecasting, risk and regulatory management, accounting, and the systems that properly document and report the financial position of the organization and its subsidiaries.

Responsibilities

Leadership
• Attend Board and Committee meetings as required; act as lead staff to the Finance
Committee, including but not limited to scheduling meetings, providing meeting
materials, maintaining meeting records, providing reporting as requested and
coordinating training and education as needed
• Assist the President & CEO in identifying new programmatic and funding
opportunities (i.e., loan capital, investments, grants, contracts), the drafting of
prospective programmatic budgets, and determining cost effectiveness of prospective

Management
• Manage Finance and Accounting staff. Oversee Accounts
Payable and Accounts Receivable activities, including
investor/funder accounts, loan servicing and Utility On-Bill
Repayment programs
• Develop and implement effective financial strategies, objectives,
policies, and procedures. Develop and maintain systems of
internal controls to safeguard financial assets of the organization
and oversee governmental awards and programs and all funder
requirements
• Ensure adequate financial/accounting controls are identified,
adequately documented and adhered to and that substantiating
documentation is approved and available such that all processing
passes independent auditing
• In partnership with the Senior Management Team, develop
annual operating budgets, support programmatic success
through cost analysis, and ensure compliance with all contractual
and programmatic requirements
• Oversee the coordination and activities of independent auditors
ensuring any audit issues are resolved, and the preparation of the
annual financial statements is in accordance with U.S. GAAP
and federal, state and other required supplementary schedules
and information
• Responsible for effectively managing risks including compliance,
profitability, interest rates, and lending and operating liquidity.
• Monitor all banking activities of the organization
• Oversee maintenance of the inventory of all fixed assets, capital
needs budgeting and expenditures, and all purchasing and payroll
activity

Reporting
• Oversee the management and coordination of all fiscal reporting
activities for the organization and its subsidiaries, including:
organizational revenue/expense and balance sheet reports,
compliance/performance reporting to all funding sources,
development and monitoring of organizational and
contract/grant budgets
• Oversee the production of periodic reporting such as funder and
client reconciliations, internal and external financial compliance,
loan portfolio activity, financial statements, cash flow projections,
funding reports, performance metric reporting, and other
internal reporting as needed internally or for use by Senior
Management, the Finance Committee or the Board of Directors

Requirements

• Minimum of 3 – 5-plus years as CFO/Controller/Finance Director or senior-level Risk
  Management professional for a $50 million bank, credit union, Community Development Financial
  Institutions (CDFI) or similar finance and/or lending services company
• Not-for-profit accounting (fund accounting) in accordance with relevant U.S. Generally Accepted
  Accounting Principles (GAAP): strong grasp of revenue recognition, financial and accounting
  practices and procedures; grant accounting and/or financial modeling, planning, and analyses
  capabilities a definite plus
• Minimum of 5 years of management experience; passion for C4C’s mission and goals;
  demonstrated track record of and proficiency in team leadership, effective management and
  operations practices, and interdepartmental collaboration; mentoring, coaching, and staff
  development
• Independent mindset, with a roll-up-your-sleeves finance practitioner skillset; tech-savvy, skilled in
  implementing process-enhancing technology; competence in centralizing and streamlining
  processes and systems; adept at driving process improvement and utilizing technology; prior track
  record of systems overhaul and rebuilding and the related RFP processes therewith
• Superior communication, presentation, public speaking, interpersonal, relationship management,
  persuasiveness, negotiation, diplomacy, influencing, and listening skills; strong dispute resolution
  and de-escalation capabilities; integrity beyond reproach and unquestioned trustworthiness
• Innovative approach to negotiating borrowed capital intended for development initiatives and new
  product offerings; proficiency in capital acquisition through novel avenues

Compensation and Benefits

Capital for Change offers a competitive base salary as well
as excellent benefits and perks including but not limited to:
• Health
• Dental
• Life, Short, and Long-Term Disability Insurance
• 403(b) Retirement Plan
• Roth IRA
• Generous paid time off program
• Professional Development Allowance
• Hybrid work environment

How to Apply

Email [email protected]