Full-Time Vice President of Finance
POSITION PROFILE: Vice President of Finance – Minneapolis Economic Development Association (MEDA)
kpCompanies is leading the search for the next Vice President of Finance for MEDA. This will be a highly visible and inspiring leader responsible for the overall strategic direction of MEDA’s finance, IT, and data strategies. Reporting to the President and CEO, the VP of Finance is responsible for oversight of all technology and financial matters at MEDA. This position will lead and develop an internal team to support the following areas: data management, information technology, finance, accounting, compliance, business planning, and budgeting. Additionally, this position oversees financial administration, reporting, and compliance for government contracts and private grants. The VP of Finance is a strategic thought partner working closely with the Executive Leadership Team and Board Directors to develop and implement strategies across the organization to enhance mission, build capacity, and develop quality programs.
THE ORGANIZATION: Minneapolis Economic Development Association (MEDA)
MEDA was founded in 1971 with the mission of Helping BIPOC (Black, Indigenous, People of Color) Entrepreneurs Succeed. Our founders believed wealth creation is key to creating racial economic equity and that successful BIPOC Entrepreneurship is the clearest path to creating wealth. MEDA fulfills its mission by providing integrated, wrap-around services in the three areas all entrepreneurs need to succeed: Management Education, Money, and Market. In our first fifty years, MEDA has served more than 25,000 BIPOC Entrepreneurs.
The more than 25,000 BIPOC-owned businesses that have grown and thrived as MEDA’s clients and the tens of thousands of jobs MEDA has helped these businesses create and maintain are substantial evidence that proves MEDA’s theory of change: Wealth creation is an effective antidote to economic inequities, and successful BIPOC entrepreneurship is the most effective tool for building generational wealth and remains integral to creating the world we want.
JOB DUTIES AND RESPONSIBILITIES:
Finance and Accounting
- Update and implement all necessary business/accounting policies and practices.
- Implement financial management/reporting systems; ensure that the contract invoicing and collection schedule is maintained in support of cash flow and operational requirements.
- Analyze and present financial reports in an accurate and timely manner, communicate interim and annual financial statements; collate financial reporting for government grants/contracts and private grants; oversee financial project/program and grants accounting.
- Conduct monthly reconciliation of all cash accounts and ensure adherence to all financial policies and internal controls.
- Oversee and lead the annual budgeting and planning process.
- Oversee financing strategies and activities, including banking relationships, Program Related Investments, and other operational and client lending funding sources.
- Exercise financial oversight of the lending program.
- Prepare schedules, documentation, and reports in support of annual audits, federal single audits, and federal and state returns/filings.
- Coordinate and lead the annual audit process, and liaise with external auditors and the finance committee of the board of directors.
- Conduct reconciliation of general ledger contributed revenue accounts with fund development department donation records.
- Effectively communicate and present critical financial matters to the Board of Directors.
- Develop finance organizational strategies by contributing financial and accounting information, analysis, and recommendations to strategic thinking and direction; establishing functional objectives in line with organizational objectives.
- Establishes finance operational strategies by evaluating trends; and revenue opportunities; projecting acquisition and expansion prospects; analyzing organizational operations; and identifying opportunities for improvement, cost reduction, and systems enhancement.
- Engage as a member of the Executive Leadership Team to influence company vision, strategy, and priorities; communicate and advocate for technology vision & strategy
- Ensure policies and procedures remain relevant and current across all IT and Finance. This is a shared responsibility with other Vice Presidents.
Information Technology & Data Management
- Develop and continually improve automation, processes, procedures, activities, metrics, and enabling technology to deliver frictionless service.
- Propose strategic solutions for the improvement of IT Service and Knowledge
- Collaborate with IT operating groups to improve service levels across all IT service functions
- Lead and retain direct reports (Senior Accountant, Data Manager, IT Manager, Compliance).
Below are some of the typical requirements for an Executive Director. We recognize that skill sets can be a complex combination of experiences. Even if your background does not exactly match these requirements but you have a passion for our work, we would love to hear from you and we recognize the value of transferable skills.
- BS in accounting, business administration, finance or other related field.
- 10 years of non-profit financial management experience, with increasing levels of responsibility.
- Proven track record of driving improvements in service levels in IT
- Ongoing development of key competencies: Relationships, Communication, Quality, Inclusion, Decision Making, Innovation, Change Capacity, Influence, Emotional Maturing, Developing Others while leading and motivating others to action through recognition and rewards.
- Experience deploying, and managing cloud-based systems and data infrastructure
- Recruit & retain outstanding diverse talent by fostering an inclusive culture that inspires & motivates and by providing opportunities for professional development
- Experience scaling early growth organizations across multiple service offerings
- Excellent interpersonal, verbal, and written communication skills and the ability to engage with technical and non-technical stakeholders
- Ability to work under the pressure of competing priorities and deadlines.
- CPA (Preferred)
- MBA (Prefered)
How to ApplyInterested candidates should submit a cover letter, resume, and salary expectations no later than 9:00pm on Wednesday, February 14th, 2023. You can apply here: https://recruitcrm.io/apply/17020138062710037823PeT EQUITY + SALARY DISCLOSURE: We believe in practices that create real equity and pay parity regardless of background or identity and we freely discuss compensation with all qualified candidates the first time we interview them. Saving the salary discussion for the first conversation allows us to fully understand the needs of each candidate and to ensure that qualified candidates, even those who’ve historically been overlooked and/or underpaid, don’t self-select out of the processes based on salary alone, as our experience and research suggest. In addition to those who opt out, because they fear the salary may be out of reach for them, we equally don’t want to miss out on conversations with candidates who are slightly over the range when in some cases the total compensation including factors such as bonuses, flexibility, and better health benefits, etc. may exceed expectations. Finally, as a search firm – we are always looking for top-notch talent to introduce to our clients. Should the salary or any other requirement not be fit, there is often a chance that someone on our team is working on another position you may be a better fit for. If you would like to discuss your qualifications for this role as well as discuss salary and compensation - just give us a call, and we’d be happy to discuss! EQUAL EMPLOYER OPPORTUNITY: MEDA and kpCompanies are equal opportunity employers and all employees and applicants for employment are afforded equal opportunity in every area of hiring and employment without regard to race, color, ethnicity, religious creed, national origin, ancestry, sex, gender identity, age, disability, mental illness, sexual harassment, sexual orientation, genetics, military/veteran status, citizenship, arrest record, and any other legally protected characteristic. All submissions are received in the strictest confidence.
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