Director of Finance

Company: Washington Area Community Investment Fund

Location: Washington, DC

Job Function: Finance


The Washington Area Community Investment Fund (Wacif) advances equity and opportunity in the Washington, D.C. area’s underserved communities by providing financial capital, business advisory services, and strategic networking support to underinvested entrepreneurs. Since its inception in 1987, Wacif has deployed more than $50 million in capital, served more than 3,500 entrepreneurs with business advisory services, and helped create or retain more than 20,000 local jobs. To learn more about Wacif’s work, visit


The Washington Area Community Investment Fund (Wacif) seeks to fill the full-time position of Director of Finance, whom will be responsible for providing leadership and oversight to Wacif’s full-scale financial management and accounting operations, including systems, process, policies, and people – ensuring a strong internal control environment and efficient financial operations to actively support the timely production of financial statements and its growing programmatic activities across multiple entities and subsidiaries.


People Management

  • Manage and develop Accounting team to carry out their duties and reach department goals and objectives;
  • Establish and monitor team member goals aligned with reaching department goals and objectives;
  • Mentor staff in solving quality control issues within the Accounting Department;
  • Coach and cross-train team members to become experts in their positions. Balance team and individual responsibilities, provide and welcome feedback, and contribute to building a positive team spirit and workplace culture.

Accounting Operations

  • Manage chart of accounts, department/project/budget codes, and overall financial data schema;
  • Coordinate and supervise implementation of accounting-related requirements of new projects and initiatives;
  • Develop and maintain procurement, accounting, expense management, and investment policies, procedures, and processes; ensuring they are kept up-to-date and compliant with the Code of Federal Regulations (CFR);
  • Train staff on policies, procedures, and internal controls related to accounting, procurement, expense management, investment, and CFR compliance;
  • Conduct quality review of monthly accounting data;
  • Review, approval, and release of bank wires, ACHs, and other payments;
  • Manage and maintain online banking and treasury platform access and user credentialling;
  • Ensure staff time is maximized under grants; protecting Wacif’s unrestricted net asset position.
  • Ensure integrity of the organization’s financial records;
  • Oversee financial month- and year-end close activities, including production and consolidation of financial statements;
  • Review and approve grant-related reimbursements and financial reports for accuracy prior to submission;
  • Review and approve revenue recognition treatment for incoming contributions and exchange transactions according to FASB Accounting Standards Updates (ASU) 2014-09 Topic 606 and ASU 2018-08;
  • Anticipate and lead accounting-related system enhancements and financial data structuring;
  • Oversee annual NICRA application submission;
  • Review and sign sub-grant agreements on behalf of the CEO.

Budgeting & Financial Planning

  • Anticipate and oversee development and/or implementation of multi-year budgeting tools/software;
  • Provide oversight, direction, and leadership to:
    • consolidated annual budget development;
    • Planning & Reporting Manager to ensure financial performance against budget, at all levels;
    • production of forecasting models aimed at determining capital needs and balance sheet optimization;
  • Review and approve monthly operating and capital liquidity projections for dissemination;
  • Review project budget within grant proposal submission process;
  • Manage excess operational and capital liquidity by proposing investment options which meet organizational financial goals and ensure balance sheet optimization.
  • Actively manage general ledger accounting and timekeeping systems to ensure adequate controls in place for staff time allocation to various funding pools;

Reporting & Compliance

  • Approve financial reports prior to donor submission;
  • Anticipate and oversee development of financial, risk, compliance reporting tools and dashboards in Intacct, Nexonia, MS Excel, and other platforms;
  • Ensure compliance with:
    • internal policies, procedures, and codes of conduct;
    • investor covenants and financial reporting requirements of grantors;
    • US GAAP and Accounting Standards Updates (ASUs);
    • Code of Federal Regulations (CFR) for Federal Awards.
  • Oversee maintenance and production of lending Risk-Based Pricing Framework;

 Risk Management

  • Ensure adequate internal controls exist within accounting functions enabling quality and timely production of financial statements;
  • Ensure adequate insurance coverage is maintained across Wacif entities and subsidiaries.

Audit & Tax

  • Oversee audit engagement and ensure timely submission of external audit requests and PBC lists;
  • Review preparation of schedules for the annual external audit (single audit, financial audits, or project-specific), including the Statement of Expenditure of Federal Awards (SEFA) prior to submission to auditors;
  • Oversee preparation and review schedules for annual IRS Form 990.


  • Other relevant duties that arise as assigned by leadership.


  • Minimum of 10 years of progressive experience in senior, non-profit financial management roles;
  • 5+ years in Director of Finance or Controller position;
  • Bachelor’s degree in Business Administration, Accounting, or Economics;
  • Certified Public Accountant (CPA) required;
  • Experience working in a CDFI, financial services, or investment management firm a plus;
  • Compliance and risk management oriented; strong analytical skills;
  • Experience in financial consolidation of multiple entities and subsidiaries;
  • Advanced proficiency in Sage Intacct; experience with Run ADP, and Nexonia preferred;
  • Advanced proficiency in MS Office Suite (Excel, Word, Outlook and PowerPoint);
  • Advanced knowledge of non-profit revenue recognition principles under ASU 2014-09 Topic 606 and ASU 2018-08;
  • A high level of motivation, initiative and attention to detail;
  • Proven track record of leading high functioning teams, ideally within high growth environment;
  • Strong organization and problem-solving skills with the proven ability towards continuous improvement;
  • Ability to work under pressure and handle stress;
  • Interest in and commitment to Wacif’s mission of working with low- and moderate-income individuals and underserved communities.

Compensation and Benefits

Competitive salary commensurate with experience. Medical, Dental, Vision, Life & Disability coverages available. 401(k) retirement plan (employer matching contribution eligible); paid time off (increased with tenure), paid holidays and sick leave days, transportation benefits, and education assistance benefits (professional development, tuition reimbursement, and student loan repayment).

How to Apply

Interested candidates should email a resume/CV, thoughtful cover letter that outlines how your skills and experience meet the qualifications of the position, and salary requirements to with “Director of Finance” in the subject line.

Wacif is an equal opportunity employer and welcomes candidates from diverse backgrounds.

Wacif provides a flexible and hybrid working environment with the opportunity to work remotely.