Company: National Community Reinvestment Coalition (NCRC)
Location: Washington DC, DC
Job Function: Financial Services
The National Community Reinvestment Coalition is seeking a dynamic, experienced person to lead the organization’s complex financial operations which include a 501c3 nonprofit, a community development financing institution, and related entities. The Chief Financial Officer will have the opportunity to build financial systems and accounting operations and, in collaboration with the Executive Management Team, provide high level financial reporting and analyses to support progress toward long-range goals, strategies, and annual plans.
Formed in 1990, the National Community Reinvestment Coalition (NCRC) is a network of organizations and individuals dedicated to creating a nation that not only promises but delivers opportunities for all Americans to build wealth and live well. NCRC works with community leaders, policy makers and institutions to advance solutions and build the will to solve America’s persistent racial and socio-economic wealth, income, and opportunity divides, and to make a Just Economy a national priority and a local reality. This vision is the foundation of the Just Economy Pledge.
NCRC’s unique mix of research, investigations, investments, media, grant-making, training, advocacy, litigation, lending, convening and facilitation strengthens communities of historic disinvestment, expands economic mobility, holds public and private institutions accountable for their impacts, and informs local and national leaders, policymakers and the private sector. Highlights from the 2022 Impact Summary include:
- Seven community benefits agreements with banks committed $205 billion in loans, investments, and philanthropy to underserved communities and the organizations that serve them.
- Through 2022, NCRC completed community benefits plans with 22 banking groups that will put a combined $509 billion into underserved communities.
- NCRC Community Development Fund (CDFI) raised $8 million in debt capital for affordable housing development and small business lending.
- 105 training programs with 5,200 participants
- 120 meetings with House, Senate, and federal regulators during advocacy week with 36 state delegations, including Washington, DC
- $4.7 million community impact grants awarded to 65 grantees in 16 states for affordable housing, small business development, arts & culture, COVID-19 relief, housing counseling and capacity building initiatives.
Headquartered in Washington, DC, NCRC has a consolidated annual operating budget of $35 million and employs a staff of over 60 team members. Funding streams for NCRC’s 501c3 include conference revenues, federal awards, contributions and grants, and member dues. NCRC CDFI has over $60 million in assets. For additional information, please visit NCRC.org.
Reporting to the Chief Operating Officer, the Chief Financial Officer (CFO) is an integral member of the nine-person executive leadership team that includes the President & CEO; the chief officers for operations, communications & marketing, programs & strategic development, community development, community finance & mobility, and organizing, policy & equity; and general counsel. The CFO leads a four-person team which currently includes the positions of Director of Finance (direct report to the CFO), and staff, senior, and grant accountants. The CFO has primary responsibility for finance and accounting functions for the 501c3 and NCRC Community Development Fund (CDFI).
The CFO will meet regularly with the President & CEO to discuss financial and strategic issues, plays a critical role in partnering with senior leaders and department managers to advance operations and strategic decisions, and provides support to the Board of Directors and its Finance & Audit Committee.
The CFO is responsible for providing strategic and technical financial leadership for the organization by working with the Executive Management Team to establish and track progress toward long-range goals, strategies, and plans. In doing so, the CFO provides actionable reports and high-level financial analyses so that decision-making has a strong foundation. The CFO oversees NCRC’s financial operations and ensures that NCRC’s financial systems, structures, and functions position the organization with a sustainable financial model while limited organizational risk and liability.
The CFO will step into a mission-driven organization that values collaboration and entrepreneurship. Key priorities for the CFO include:
- Deeply understand NCRC’s primary business lines, revenue streams, and the contributions of related entities to the organization.
- Assess, develop and strengthen finance and accounting systems, policies, and technology to streamline functions and create business value.
Elevate financial reporting and analyses to support staff leadership and the board in their respective financial program management and fiduciary responsibilities.
Finance & Accounting Leadership
- Serve as a thought partner and collaborator with the leadership team, helping to build and execute plans and strategies that advance mission priorities.
- Provide strategic financial input and leadership on decision-making issues affecting the organization, including evaluation of potential new initiatives/programs, potential alliances or investments, and changes in regulatory actions affecting nonprofit accounting.
- Plan, develop, implement, and evaluate the organization’s fiscal function and performance, including the evaluation and development of cost-effective and efficient systems, processes, and technology that maximize excellence in finance operations.
- In partnership with the leadership team, develop long-range financial strategy, financial models, operations innovations, and system enhancements that support NCRC’s evolution and financial sustainability.
- Staff the Finance & Audit Committee and provide financial reports to the Board of Directors.
- In collaboration with the COO, oversee the asset management of NCRC including real estate interests.
Internal Controls & Risk Management
- Enhance and/or develop, implement, and enforce policies and procedures of the organization by way of systems that will improve the overall operation and effectiveness of the organization.
- Optimize the handling of banking and financial advisory relationships and initiate appropriate strategies to enhance financial sustainability.
- Ensure systems and controls that facilitate a clean audit opinion in the annual Single Audit along with funder reviews.
- Function as the risk manager in implementing processes and initiatives that prevent operational losses, grant & contract non-compliance, and violation of funder restrictions.
- Provide financial perspective and approvals as necessary on any major contracts or grant agreements into which the organization may enter.
- Enhance the risk management and compliance culture at NCRC.
Finance Management & Reporting
- Prepare the annual budget and reforecasts to meet strategic and financial objectives, working collaboratively with the finance group, department managers, and the leadership team.
- Participate in continual improvement of the budgeting process through education of department managers on financial issues impacting their budgets.
- Provide timely, accurate financial reports, analysis of financial trends, and forecasting to assist the Board, President & CEO, and leadership team in performing their responsibilities.
- Provide technical financial advice and knowledge to others within the financial discipline.
- Evaluate the finance division structure and team plan for continual improvement of the efficiency and effectiveness of the group and provide individuals with professional and personal growth.
NCRC uses a variety of technology to support finance and accounting. Currently, the organization uses Abila MIP and plans to move to Intacct in the future. Payroll is transitioning from ADP to PayCor. The organization uses Microsoft Office and Google software.
Successful candidates for this position will bring a variety of experiences and attributes to NCRC, including:
- Master’s degree or equivalent preferred; CPA a plus.
- 10+ years’ progressive management experience in senior financial positions in organizations with annual operating budgets of $15 million or more, with demonstrated excellence in managing finance, accounting, budgeting, and reporting responsibilities.
- Keen understanding of nonprofit financial management, audit, compliance, and risk.
- Experienced leader and financial executive with relevant industry experience including nonprofit sector, government grant and contract management, and indirect cost rate agreement negotiations.
- Forward-thinking and creative individual with high ethical standards.
- Strategic thinker with sound technical skills, analytical abilities, good judgment, and strong operational focus.
- Well organized and self-directed individual who is a team player.
- Executive presence, with excellent communication and relationship building skills and the ability to prioritize, negotiate and work with a variety of stakeholders; ability to relate to people at all levels of an organization
- A good educator who is trustworthy and willing to share information and serve as a mentor.
- Ability to work collaboratively, exercising good judgment, decision-making, and problem-solving skills to achieve shared goals.
- Supervisory experience that includes team building, talent management, and leadership development.
Compensation and Benefits
NCRC values the unique skills, talents and contributions of employees and sustains a mission-driven, collaborative, and entrepreneurial work environment. The CFO position is based in the Washington, DC office which works two to three days in the office, with Tuesday and Thursday being preferred in office days.
NCRC offers a competitive salary and benefits that considers external market compensation and maintains internal equity. The initial salary range for the position is $200k – $230k. The benefits package includes health, life, and disability insurances; paid time off and holidays; a 401(k) retirement plan with an employer match and a contribution; and other benefits.
How to Apply
To apply, upload resume and cover letter by clicking here. For other inquiries, contact Adrienne O’Rourke at Adrienne.firstname.lastname@example.org. No other application materials will be reviewed at this time. Resume reviews begin immediately.
NCRC is an equal opportunity employer, committed to creating and maintaining a diverse and inclusive workplace which includes respect and appreciation of differences in ethnicity, gender, age, national origin, disability, sexual orientation, education, and religion.
About Marcum’s Nonprofit & Social Sector Group
On behalf of NCRC, Marcum’s Nonprofit & Social Sector Group is working with the organization 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 NCRC. Learn more about our work at Marcum Nonprofit & Social Sector