Chief Financial Officer

Description EFFECTIVE DATE : 01/2024 FLSA: Exempt JOB TITLE: Chief Financial Officer DEPARTMENT: Finance REPORTS TO: Chief Executive Officer PAYRATE: Salary commensurate with experience JOB FUNCTION: The Chief Financial Officer (CFO) provides both operational and program support to the organization and ensures delivery of technology services, procedures, and infrastructure to effectively support operations. The CFO manages Finance, Pension Administration, and Risk Management units. The CFO oversees the maintenance of accounting and organizational records, and safekeeping of company assets. The CFO reports directly to the Chief Executive Officer and directly assists the CEO and executive management on strategic and tactical matters related to budget management, cash management and forecasting, financial compliance and internal controls, and operational analysis. The CFO provides complex administrative support to the CEO - and assumes leadership and a collaborative role in executing multi-functional projects, initiatives, and analyses. ESSENTIAL DUTIES AND RESPONSIBILITIES: Directs all phases of the financial programs of the organization, ensuring a sound financial and accounting system with adequate safeguards to account for and protect the assets of the Authority. Provide direction and oversight for day-to-day operations and tasks within finance, pension administration, and risk management units. Manage and organize functional objectives and related action steps. Develop short-range and long-range plans for Company financial operations. Develop and implement operational policies and procedures to ensure financial accountability and stability. Ensure generally accepted accounting principles are followed and oversee the conservation and protection of assets and reserve funds. Reviews and approves all financial reports, statements, and the general ledger. Manages the preparation of financial records and the preparation of related reports for all operations. Develop and implement policies and procedures for the preparation of the Authority's operating budget, capital expenditures budget, and Comprehensive Annual Financial Report; manage the budgeting process and budget tracking activity. Prepare annual and multi-year revenue estimates for use in budget preparation; develop other budget summaries and schedules for executive management. Confer with and advise the CEO, department directors, and, if needed, board membersregarding fiscal operations and budget administration. Directs the preparation of yearly budgets and presents budgets to Senior Management and the CEO for approval. Conducts workshop for Board of Directors before formal submission of budgets to the Board for final adoption. Leads year-end audit and independent auditor activities. Provides interface with City and State agencies. Responds to inquiries from the public and other agencies. Develops, administers, and interprets financially based internal controls and reports that are relative to both capital and operating expenditures to increase effectiveness and efficiency. Develop and maintain systems of internal controls to safeguard financial assets of the organization and oversee financial programs. Oversee the coordination and activities of independent auditors ensuring all A-133 audit issues are resolved, and all compliance issues are met, 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. Oversee the management and coordination of all fiscal reporting activities for the organization including organizational revenue/expense and balance sheet reports, reports to funding agencies, development, and monitoring of organizational and contract budgets. As a member of executive team, work with the CEO on the strategic vision including fostering and cultivating external stakeholder relationships and assisting in developing and reviewing contractual arrangements. Establish and implement procedures and work methods for responsible units; continuously monitor and evaluate the efficiency and effectiveness of service delivery methods and procedures. Oversee payroll processing, accounts payable, and accounts receivable processes and effectiveness - and ensure disaster recovery capability is in place. Oversee the maintenance of the inventory of fixed assets, including assets purchased with government funds, assuring all are in accordance with federal regulations. Serve as treasurer for the Authority's funds; oversee banking & cash management activities - including appropriate notifications and communications with CEO, City of Memphis, Board of Commissioners, etc. Serve as one of the Retirement Plan trustees; monitor Plan administration, funding of the Plan, and financial reporting of Plan [ensure FASB and GASB reporting standards where applicable]. Maintain appropriate accounting files and records and provide information for external auditors of MATA and of the Retirement Plan. Analyze current and future personnel finance/technology staffing needs and develop short and long-term plans to meet those needs. Allocate manpower needs and select appropriate personnel for handling responsibilities. Implement performance management techniques and appraisals to develop and maintain high-functioning groups. Routinely assess employees' performance, and proactively address personnel strengths, weaknesses, and disciplinary matters. OTHER DUTIES AND RESPONSIBLITIES: Review work plans for employees and meet with staff to identify and resolve problems, assign work when necessary and monitor the overall allocation of company resources. Oversee the security for financial records, including general ledger software, and approve any system changes. Assume additional responsibilities as required. MINIMUM QUALIFICATIONS: Education: Master's degree in accounting or finance; Certified Public Accountant is preferred. Other: Minimum 15 years' experience in day-to-day finance and accounting operations of an organization with at least 15 staff persons. Minimum of 10 years managerial experience and 5 years director-level responsibilities. Demonstrated strong supervisory and analytical skills and good verbal and written skills. Must be adept at applying organizational and managerial practices to the analysis and evaluation of programs, policies, and operational needs. Familiarity with pertinent federal, state, and local laws, codes, and regulations. High proficiency with personal computers and PC software (MS Office Suite and other financial/budget related software). Must be able to effectively manage an array of simultaneous initiatives. Able to understand and interpret contractual agreements, such as bargaining unit agreements, retirement plans, and lease agreements. Must be bondable and be able to pass a background security check. Must possess valid driver's license. Must be willing to comply with the company's Drug and Alcohol Policy. Regular and consistent attendance is required. Must always comply with safety and COVID protocols. Environment: Extensive sitting is required while using office equipment such as computers, phones, printers, or fax machines. Some standing and walking during a normal workday will also be required as well as bending, stooping, kneeling, and crouching. Most work will be performed in inside working conditions but should be able to tolerate changes in building environments such as with or without air conditioning or heating. May be required occasionally to move up to 20 pounds by lifting, carrying, pushing, pulling or otherwise repositioning objects. Fingering and repetitive motions will be required for data entry, while picking items up or while filing. Able to express or exchange ideas with others accurately and at an easily audible volume through the use of spoken words. Able to receive detailed information through oral communication or by phone at usual speaking levels and differentiate between sounds in the environment. Close visual acuity to perform detail-oriented activities as well as acuity to perform activities at or within arm's reach with skill, control, and accuracy such as preparing and analyzing data, viewing a computer screen or for significant reading of documents and other materials. The above description is intended to describe the general content, identify the essential functions, and set forth the requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities, or requirements.

Created: 2024-11-05