Director of Finance

Organization

Allies for Community Business believes that entrepreneurs from any background can start and grow businesses that create wealth for their families and communities. A4CB provides the capital, coaching, and connections entrepreneurs need to grow great businesses in their communities.

Position: Director of Finance

The Director of Finance is a salaried, exempt position that reports to the COO. The Director of Finance is responsible for maintaining clean financial accounts and sound financial controls.

Essential Duties

• Advise the CEO and COO on opportunities to proactively improve our financial position
• Manage risk for the organization by establishing and executing sound policies, procedures, and reporting for accounting and general financial operations
• Present timely and accurate reports on the organization’s financial position, highlighting critical areas for management’s review and action
• Partner with the leadership team in strategic decision making and operations as we enhance quality programming and build capacity

Detailed Responsibilities

Financial Management

• Conduct sophisticated what-if analyses to help the organization make sound business decisions on loan pricing and program opportunities
• Unrestrict cash aggressively according to GAAP standards and program requirements and timelines to help increase unrestricted net assets
• Manage organizational cash flow and forecasting to ensure A4CB needs are met, including operating and lending capital
• Actively manage the day-to-day accounting and financial operations of A4CB, ensuring the maintenance of internal policies, procedures, and controls in compliance with GAAP, GAS, and audit standards
• Manage the Accounts Payables, Accounts Receivable, Loans Receivable, and Capital Operations staffs to ensure financial accounts and transactions are accurate and reasonable in the accounting system to close the books by the 15th of each month
• Manage recording of loan originations, modifications, advances, repayments, charge offs, and recoveries
• Manage Current Expected Credit Loss (CECL) reserving processes, governance, and methodologies
• Oversee the annual budgeting and planning process with the CEO, administer and review all financial plans and budgets, monitor progress and changes, and keep senior leadership team and staff abreast of the organization’s financial status
• Prepare quarterly audit committee and board financials and be prepared to lead and present as needed
• Coordinate and lead the annual audit process, liaising with external auditors as well as agency program auditors to ensure audits are completed smoothly and in a timely manner
• Maintain a robust financial management/reporting system
• Work with the compliance team to provide the financial data needed for reporting against compliance obligations and financial covenants for debt providers
• Liaise with the organization’s banks to maintain user accounts for the processing of wires, ACHs, and NACHA files; conduct account reviews for pricing; and communicate fraudulent activity
• Approve initiated ACH transactions for electronic payments (debt, loans, and accounts payable)
• Build an internal team to support Compliance, Risk, Human Resources, and Development teams
• Manage financial accounts and controls for The Hatchery joint venture legal entities
• Review revenues, expenses, assets, and liabilities transactions in the general ledger, including recurring journal entries, amortizations, and accruals
• Manage liability insurance (Business, D&O, Cyber, and Fraud) for yearly renewal, including ongoing risk analysis
• Manage Associate Director of Capital Operations and Capital Operations team, which is responsible for loan fundings via our lending platform, boarding and loan modifications (via API), establishing and/or release of collateral in a timely efficient manner, grant disbursements, and 1099 validation and reporting
• Report borrower repayment history to the three credit bureaus accurately and consistently, the (submission of Metro 2 files, and the creation of quality controls to ensure accurate and timely reporting)

Other

• Develop high-quality staff on the Finance and Capital Operations teams
• Work from the A4CB office each Wednesday and on other days as agreed upon with the CEO
• Establish team goals and align with organization goals and periodical evaluations
• Perform other duties flexibly and creatively as needs arise
• Ongoing learning

Qualifications

A4CB requires its staff to:

• Solve problems creatively
• Manage time efficiently
• Attend to details meticulously
• Communicate effectively in writing and verbally
• Collaborate flexibly with colleagues in a diverse and changing environment
• Believe strongly in A4CB’s vision and mission

The Director of Finance should have experience in:

• Proven experience and demonstrated leadership (at least 8 years) within a CDFI, bank, or other financial institution
• Technical knowledge of small business lending
• Financial controls required by GAAP/GAS
• Nonprofit accounting experience
• Financial modeling using FP&A software
• Managing staff
• Single audits
• Accounting software, preferably SAGE Intacct

A4CB values transparency and efficiency in the hiring process. If the salary range specified in this job posting does not meet your financial needs, we encourage you to continue your search until you find a role that is a better fit. A4CB offers generous medical and dental insurance plans; offers a SIMPLE IRA retirement plan (with employer match); and provides excellent paid time off to its employees. A4CB is an equal opportunity employer and is committed to building a diverse and inclusive workplace. Women, members of the LGBTQIA+ community, individuals experiencing disability, BIPOC, and individuals with diverse backgrounds and/or work experiences are encouraged to apply.

Don’t meet every requirement?

Studies have shown that women, members of the LGBTQIA+ community, individuals experiencing disability, and BIPOC are less likely to apply for a job unless they meet every qualification. If you’re excited about this role, believe you’d be a good fit for A4CB, and would accept an offer within the salary range included in this job posting, we encourage you to apply.