Chief Financial Officer

Background

Rural Community Assistance Corporation (RCAC) seeks an experienced and strategic Chief Financial Officer (CFO) to oversee and safeguard RCAC’s financial position to advance its mission to create vibrant, healthy, and enduring rural and Indigenous communities by providing training, technical assistance, economic resources, and advocacy so those communities can achieve their goals and visions.

THE ORGANIZATION 

Founded in 1978, RCAC seeks to collaboratively build the capacity of organizations that serve underserved communities in the rural West (13 states including Alaska and Hawaii). RCAC works in partnership with small rural and Indigenous communities and other local agencies to provide tools and resources necessary to improve their quality of life. RCAC offers a wide range of services to communities with fewer than 50,000 people including technical assistance and training for environmental infrastructure; affordable housing development; economic and leadership development; and community development finance.  Since its inception, RCAC’s dedicated staff and active board have helped effect positive change in rural and Indigenous communities across the West.

RCAC’s program and services are informed by its strategic directions and core values:

Strategic Directions

• Core Competencies: Ensure rural communities have culturally-appropriate access to resources by prioritizing community-identified needs and advocating on behalf of these communities with public and private sector partners.
• Increased Investment: Strengthen the economies of rural communities through increased capital investment that supports small businesses and community development.
• Indigenous Communities: Collaborate with grassroots and Indigenous-led organizations that provide infrastructure, housing, lending, and other essential services in Indigenous communities.
• Diversity, Equity, and Inclusion: Grow inclusive practices by improving organizational awareness, positioning, and approaches that embrace Indigenous knowledge and are mindful of historical contexts to better serve internal stakeholders, external partners, and communities.
• Capacity Building and Innovation: Strengthen RCAC’s operations by exploring innovative strategies, improving internal infrastructure, and promoting staff development so that RCAC can continue to build the capacity of organizations.
• Outcome Measurement: Transition RCAC measurement to an outcomes-based model that effectively articulates the narrative of its work, increases learning opportunities to refine its programmatic approach, and expands the metrics the organization can share with diverse funding sources.

Core Values

• Leadership: Identify innovative strategies to further rural community and economic development and inspire partners to achieve great outcomes.
• Collaboration: Achieve superior results by respectfully and inclusively identifying and working with partners.
• Commitment: Work with passion and dedication to improve rural communities and the lives of their low-income residents.
• Quality: Produce exceptional work products to help RCAC partners meet their goals.
• Integrity: Practice the highest professional standards and cultural competency in RCAC’s work.

RCAC fosters and inclusive, collaborative workplace environment where colleagues and partners are valued and treated with respect so the organization and people we serve can excel.  RCAC has expanded and elevated its DEI platform and work. The organization added a dedicated committee and focus groups, bi-monthly listening sessions offered by diverse representatives, and tools and assessments to inform the learning and experiential journey of all staff, key stakeholders, and Board members as a reference to guide all internal and external communications.

Headquartered in West Sacramento, RCAC has an estimated annual budget of approximately $40 million, more than $200 million in total assets, and net assets of more than $85 million, and is deepening its impact through a $20 million unrestricted grant received in 2020. Approximately two-thirds of the annual budget comes from grants and contracts. Governed by a twelve-person diverse Board of Directors from eight different states, RCAC employs more than 220 staff, many of whom work remotely across RCAC’s 13-state footprint. The CFO will join a growing executive leadership team that includes the Chief Executive Officer, Chief Operating Officer, and Chief Impact and Policy Officer.  The senior leadership team also includes seven directors.   For more information, please visit RCAC’s website at https://www.rcac.org/.

Summary

THE POSITION

Reporting to the CEO, the CFO will work closely with the CEO, COO, and CIPO. Under the leadership of Suzanne Anarde-Devenport, a lifelong rural resident, leader, and champion for rural culture, the organization has markedly expanded its services.  RCAC seeks an experienced and innovative CFO who can expertly oversee and lead the organization’s financial position, providing strategic insight and direction to inform and support the organization’s expansive vision. Working collaboratively in teams and small groups and functioning as a close partner to the CEO, COO, and CIPO, the CFO will safeguard the organization’s financial position and incorporate RCAC’s ambitious goals into the stewardship of its assets and overall financial health. The position has two areas in which additional expertise would be of significant benefit to the organization:  federal grants and contracts oversight, indirect cost rate management, and CDFI lending compliance responsibilities.  The position directly supervises three staff members including the Controller, an Executive Assistant, and an Analyst, and oversees a Finance team of 15 professionals. 

Key Priorities

The CFO will step into an organization with a reputation for excellence in the community development space, strong financial health, and a culture that values collaboration and innovation.  Key priorities for the CFO include:

• Understanding primary business lines and revenue streams, including federal grants and community development financing
• Delivering strategic thinking and innovation that drive business planning and results
• Elevating the finance and accounting department’s contributions to include forecasting and financial modeling
• Leveraging technology to streamline functions and create business value

Responsibilities

Key Responsibilities

Strategy

• Partner with the Executive Leadership Team, the Board, and Senior Leadership Team to inform and advise regarding all financial matters relevant to the organization’s governance and strategic vision.
• Manage strategic initiatives with a focus on collaboration with and implementation across the Senior Leadership Team. Support execution of key priorities, engaging across the Senior Leadership Team and effectively allocating financial resources.
• Cultivate and steward key relationships in collaboration with the CEO, including the Board of Directors, industry, funding, and operations leaders.
• Provide high-quality internal and external customer service by coordinating and communicating with clients, funding sources, and other rural and Indigenous resource providers and regulators, and representing RCAC’s interests and mission through workshops, published pieces, and in-person conferences and events.

Financial Management

• Work with the Senior Leadership Team to enhance operational efficiency and effectiveness, remove roadblocks, and lead the financial oversight functions of the organization.
• Develop and implement plans for the financial infrastructure of systems, processes, and human capital to take RCAC to the next level of excellence in support of financial management initiatives and long-term goals including the effective management, development, and analysis of indirect cost rates.
• Develop and prepare business plans, budgets, and other necessary financial documents. Lead the budgeting process and assess and advise the senior leadership team on the financial implications of various loans, investments, projects, and business ventures.
• Develop and maintain financial information systems that are responsive to customer needs including the general ledger (and subsidiary ledgers), grants, government contracts, and loan databases that facilitate project management and meet all reporting requirements of RCAC Board, senior management team, funders, loan fund investors, and borrowers.
• Manage and support the professional development of the finance team. Establish teams that are results-oriented and highly effective to achieve financial implementation goals and support and enhance the finance, grants, and information technology teams.

Internal Controls & Risk Management

• Protect the assets of RCAC by using business and financial expertise and acumen to examine program and organizational commitments, producing and disseminating essential financial information, maintaining internal controls, and employing other safeguards such as insurances, policies, etc.
• Ensure systems and controls that facilitate a clean audit opinion in the annual corporate audits along with regular funder and investor reviews.
• Function as the risk manager in implementing processes and initiatives that would prevent operational losses, grant & contract non-compliance, and violation of investor covenant ratios.
• Oversee RCAC-sponsored 403b and 457b plans and provide professional knowledge of the Employee Retirement Income Security Act of 1974 (ERISA) and Department of Labor (DOL), representing the Senior Leadership Team on the committee overseeing retirement planning.

RCAC uses a range of technology and software platforms to support its work including SharePoint, Unanet, Microsoft Office, Teams, and OneDrive.  The organization’s PEO processes payroll through TriNet.

Requirements

Experience and Attributes

Highly qualified candidates will bring the following experience and attributes:

• At least 10 years senior management experience in financial management and deep knowledge of GAAP standards for a large, complex organization.
• Knowledge of federal grants and contract management standards for nonprofit organizations along with federal procurement standards, NICRA, and IRS and state reporting and registration requirements.
• Experience in CDFI loan compliance essential. Experience with the oversight of government grants a plus.
• Commitment to understanding the rural and Indigenous West and its diversity of needs, and a passion for contributing to a mission in service of rural community development is a plus.
• Exemplary supervisory experience and the ability to attract, develop, and retain talented individuals; create an environment that ensures staff realize their highest potential and support the overall organization to meet future challenges.
• Demonstrated resourcefulness in using a financial lens to set priorities and guiding investments in people and systems.
• Ability to demonstrate a high level of integrity, strong interpersonal skills, and advance responsibility and accountability.

• Excellent and adaptive leadership with the ability to work collaboratively with a diverse group of people across different geographies and economic situations.

• Experience working with Boards of Directors and related finance committees including the development of effective presentations and interpretation of financial data, analysis, and position to Board members and individuals with a wide range of backgrounds in finance.

• A commitment to advance the goals of a diverse and inclusive workforce and authentic relational approach.

• Ability to travel 10% of the time.
• CPA or a Master’s in Business Administration or Finance preferred.

Compensation and Benefits

BENEFITS AND PERKS

Based on current job market value, compensation will be in the range of $160,000 — $175,000, commensurate with experience.  Benefits and additional HR services are provided through a PEO (Professional Employment Organization).  RCAC offers a comprehensive benefits package which includes robust paid time off, a “rest and reset” week at the end of December, full range of health and other insurances, a 403b retirement program with an employer contribution, a wellness program, and more.  RCAC advances a combination of home office and corporate office work model through its West Sacramento headquarters and prefers the CFO position to be based in its headquarters.

How to Apply

APPLICATION PROCESS

To apply, upload resume and cover letter by clicking here.  For other inquiries, contact Adrienne O’Rourke at adrienne.orourke@marcumllp.com. No other application materials will be reviewed at this time. Resume reviews begin immediately.

RCAC is an equal opportunity employer and considers all employees and job applicants without regard to race, religion, color, gender, sex, age, national origin, disability, veteran status, sexual orientation, gender identity or marital status, or any other status protected by law. RCAC strives to reflect the diverse constituencies that the organization serves.

 About Marcum’s Nonprofit & Social Sector Group 

On behalf of RCAC, Marcum’s Nonprofit & Social Sector Group is working with the CEO to advance the search. Founded in 1984, we are, and always have been, a mission-driven professional services firm seeking to do more for nonprofits and socially conscious companies like RCAC. Learn more about our work at www.marcumllp.com/industries/nonprofit-social-sector.