CFO- TruFund

Company: TruFund

Locations: , NY; , NJ; , PA; , CT; , DC

Job Function: Financial Services


TruFund Financial Services, Inc. (TruFund) is a National Community Development Financial Institution (CDFI) with offices in New York City; New Orleans and Baton Rouge, Louisiana; and Birmingham Alabama and Houston Texas. TruFund was established in 2005 as a national nonprofit organization that advances economic opportunity for Black, Indigenous and Other People of Color (BIOPC) businesses, and communities in need.

Our mission is to help historically disadvantaged individuals and communities create thriving and resilient small businesses and entrepreneurial ecosystems in order to close racial and economic disparities and ensure an inclusive and equitable society.

As a nonprofit, mission-driven entity, TruFund offers affordable loan capital to BIPOC small businesses and nonprofit organizations that are financially viable but have difficulty accessing capital from banks or other conventional lenders.

TruFund offers more than a loan – We provide an opportunity for underserved small businesses and low-income communities to thrive.


Reporting to the Chief Executive Officer, TruFund Financial Services is seeking a Chief Financial Officer to join the executive team of our growing nonprofit community development financial institution (CDFI). The position is responsible for leading, managing, and coordinating all financial matters of TruFund. Included but not limited to are the functions of accounting, finance, compliance, risk management, funding capitalization strategy, financial planning, analysis and reporting.

To be successful in this role, the CFO will need in-depth knowledge of non-profit financial accounting standards, risk management methods and the ability to create forecasting models. The successful candidate must also be well-versed in all aspects of financial management ranging from simple accounting to more complex accounting applications related to revenue recognition, cost allocation, ALLL accounting methodology, New Market Tax Credit and Equity Investment Structures.

The CFO must be able to adapt to a continually evolving environment and thrive in an autonomous and deadline-oriented workplace while managing an accounting and finance staff. In addition, the CFO will partner with senior leadership and the Board of Directors to develop and implement strategies across the organization. The ideal candidate will possess excellent leadership, collaboration and influence given his/her financial oversight of the various business lines of the organization.


Financial Management

  • Oversee and actively manage the day-to-day accounting and financial operations.
  • Report on financial results and issues to the CEO, Executive Team and Board of Directors.
  • Prepare, analyze, and present monthly financial reports for the organization, its programs, and activities.
  • Forecast return on investment (ROI) /profitability for current and future programs.
  • Develop and utilize forward-looking, predictive models and activity-based financial analysis to provide insight into the organization’s operations and business plans.
  • Drive annual budgeting process by developing budgets for the organization, its individual programs, and new/proposed/expanded services, including the preparation of budget revisions as needed. Including YOY, Actual to Budget, Scenario Planning and Proforma analysis.
  • Oversee TruFund’s banking activities and actively manage cash flow to ensure we maintains compliance with our liquidity covenants and meet organizational operational needs
  • Provide financial management for TruFund and its operating subsidiaries, Empowerment Reinvestment fund (New Markets Tax Credits) Tru-Captial Investment Fund, LLC, (Equity Investment Fund).
  • In conjunction with the CEO & COO serve as point of contact for financial due diligence with funders, negotiate covenants, execute contracts and other terms in investment and funding agreements with vendors and collaborative service providers.

Accounting and Compliance

  • Manage day-to-day finance and accounting operations of the organization, ensuring effective policies, procedures, internal controls, and effective systems are maintained.
  • Manage accounting control systems and internal audits enduring the accurate and timely production of accounting information and financial reports.
  • Ensure timely and accurate financial reporting for federal and state funders, foundations, management team and Board of Directors, including preparation and presentation of monthly and annual financial statements.
  • Manage and report on lending, administrative, and organizational compliance to funders and investors, including the Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund, banks and foundations, and ensure annual recertification as a CDFI and renewal of TruFund’s Aeris rating.
  • Be knowledgeable of all CDFI Fund related federal compliance regulations. Identify and communicate potential compliance concerns, work closely with the management team, lending team, and finance team to maintain good standing as a CDFI. Evaluate TruFund’s performance relative to CDFI peers.
  • Lead and coordinate audits and proper preparation and filing of all corporate tax returns. Ensure legal and regulatory compliance regarding all financial functions.
  • Report to the senior leadership team, and full Board of Directors, on the financial health of the organization, including budget, investments, lending, and program operating activities.
  • Lead annual renewals of corporate lending license and securities permit.
  • Oversee and review the preparation of all financial and covenant compliance reporting as required by TruFund’s capital providers and investors.
  • Maintain up-to-date knowledge of all critical IRS, CDFI, and nonprofit audit matters, GAAP rules, and state and federal regulations regarding nonprofit and CDFI-related matters.
  • Monitor changes in the GAAP regulatory environment and implement changes in our procedures to maintain compliance while maximizing operational and financial results.
  • Ensure that finance staff maintains financial record systems in accordance with Generally Accepted Accounting Principles.
  • Facilitate completion of ad hoc reporting requests from senior management and other internal or external stakeholders.

Capitalization Strategy

  • Develop annual and multi-year capital plans for new loan and grant revenue, debt capital, joint financing partnerships, and other sources of capital for the organization.
  • Participate in creating diverse capital solutions to expand the scale of financing activities, support the creation of new programs, products, and initiatives.
  • Serve as additional representative to financial partners, including investors, foundation executives, auditors, public officials, etc.
  • Develop and utilize forward-looking, predictive models and activity-based financial analyses to provide insight into TruFund’s operations and business plans.
  • Assist in, by providing requisite input, applying for government funds, including CDFI, NMTC, and other sources.

Planning and Analysis

  • Coordinate the development and monitoring of budgets.
  • Develop financial business plans and forecasts.
  • Create short, medium, and long-term financial plans and projections; review these plans with the President and appropriate committees of the Board of Directors.
  • Represent the company to financial partners, including financial institutions, investors, foundation executives, auditors, public officials, etc.
  • Staff the Board Finance Committee, providing timely updates and reporting, and responding to committee direction.



Education and Experience

  • Impact and Mission driven.
  • BS/BA in accounting or finance from an accredited college or university required; MBA a plus.
  • 10+ years of senior management experience preferably in the non-profit community development financial sector with an organization that had an operational budget in excess of $10 million per year.
  • Experience in a senior financial management role, partnering with executive staff, resulting in the development and implementation of effective financial management strategies.
  • Significant experience in or knowledge of nonprofit accounting, including sophisticated fund and grant accounting, compliance, and reporting.
  • Experience working with information technology staff or consultants to manage finance and accounting software packages.
  • Excellent communication, facilitation, and negotiation skills.
  • Demonstrated leadership ability, team management, and interpersonal skills.
  • Excellent analytical and abstract reasoning skills, plus excellent organization skills.
  • Knowledge and experience in real estate development, housing, and/or business finance.
  • History of managing growth and aligning operations to support strategic business priorities.
  • Proven track record of problem-solving, resourcefulness, and exceeding set goals.
  • Effective planning and deadline orientation to business management and operations.
  • Ability to think strategically, anticipate future trends, consequences, and build the organization framework to address dynamic circumstances.
  • Strong community relations, Board relations, and client relations skills.

Compensation and Benefits

Compensation: TBD, depending on experience and qualifications. Offering generous and comprehensive benefits.

How to Apply

Please apply to the following link:

EOE Statement: TruFund provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training.