Chief Financial Officer

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SUMMARY

General Description : The Chief Financial Officer (CFO) is responsible for the strategic planning, leadership, direction, and execution of the financial functions of the Virginia Commercial Space Flight Authority (VCSFA).

As a member of the VCSFA Executive team, the CFO advises the VCSFA CEO / Executive Director on all financial matters. The incumbent will identify and manage the Authority’s resources to effectively support the achievement of the Authority’s strategic plan and operational goals.

The CFO will develop and maintain effective working relationships with internal and external stakeholders, including state, federal, and local government officials;

private organizations; customers; and the public.

Responsibilities and Duties :

• The CFO is responsible for the strategic planning, leadership, direction, and execution of the financial functions of the VCSFA.
• The CFO is responsible for developing financial strategies and plans that align with VCSFA’s overall goals and objectives.

This involves overseeing all VSA financial activities, including strategic planning, capital and operating budgeting, financial modeling including cash forecasting, developing, and ensuring compliance with adequate internal controls, supporting Authority audits, managing the payroll, establishing product pricing strategy, and other financial matters.

The CFO serves as a strategic advisor to the CEO / Executive Director and Board of Directors. The CFO will oversee the process of borrowing issuing financing bonds, including the preparation, negotiation, and management of bond insurance to secure necessary funding for organizational projects.

He / she provides financial insights and analysis to support key business decisions, such as investments, debt management, pricing strategies, and policies to effectively operate while ensuring compliance with applicable state and federal requirements.

• The CFO will manage the Authority’s debt management policies and activities, including preparation, negotiation, and management of bond sales to secure necessary funding for organizational projects warranting debt financing.
• The CFO is responsible for identifying, developing, and implementing enterprise-level business systems, procedures, and financial controls and their effective application and maintenance.
• The CFO prepares, validates, and recommends multi-year financial plans, operational plans, budgets, and cost estimates for VSA.

He / she also oversees financial statements, disclosures, and compliance with accounting standards and regulations.

The CFO will identify any existing or potential risks and threats, and the potential impact to VSCFA’s financial health.

In collaboration with the Chief Technology Officer, he / she will develop strategies to mitigate and / or manage any identified risks and / or threats.

• The CFO will collaborate and establish effective working relationships with external business partners, such as banks, auditors, legal advisors, and consultants to support the strategic initiatives and ensure alignment with the financial goals of the CEO / Executive Director and VCSFA’s Board of Directors.
• The CFO will manage the budget development and management processes, review budget proposals, and prepare necessary supporting documentation and justification for Board presentation, review, and approval.

He / she shall prepare reports that summarize and forecast company business activity and financial position in areas of income and expenses based on past, present, and expected operations.

• The CFO will conduct periodic budget reviews with the Executive Leadership Team and identify potential concerns and needed actions.
• The CFO will analyze annual financial information detailing assets, liabilities, and capital, and prepare balance sheet(s), profit and loss statements, and other reports to summarize and interpret current and projected VCSFA financial position.
• The CFO shall ensure compliance with generally accepted accounting principles (GAAP) as prescribed by the Governmental Accounting Standards Board (GASB).

Establishes tables of accounts and assigns entries to proper accounts.

The CFO shall ensure all financial activities are accomplished on time and in accordance with applicable rules, regulations, and laws;

prepares and distributes required reports.

The CFO shall perform special tasks and research, oversee special projects and programs, and represent the Authority in a variety of settings at the direction of the CEO.

The above statements are intended to describe the general nature and level of work being performed by the CFO. They are not to be construed as an exhaustive list of all job duties performed by personnel so classified.

They are not intended to limit or in any way modify the right of supervisors to assign, direct, and control the work of employees under their supervision.

EMPLOYMENT STANDARDS

General Education

College : Bachelor's Degree Required, Master's Degree Preferred

Major : Accounting preferred. Finance, Business Management, or similar field with significant accounting experience also considered.

Job-Related Experience : Considerable experience in management, administration, and stakeholder engagement is preferred.

Certifications : CPA, CMA, or CGFM certification is preferred

Licenses, etc. : Must possess a valid driver’s license and secure reliable transportation to the Authority’s Norfolk Office and to the Mid-Atlantic Regional Spaceport and facilities on Virginia’s Eastern Shore.

CONDITIONS OF EMPLOYMENT

Qualification : To perform this job successfully, an individual must be able to perform each essential duty satisfactorily.

The requirements listed below are representative of the knowledge, skill, and / or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

A 90-day probationary period is required of all newly hired and re-hired employees.

Must be able to pass a pre-employment background check and drug test.

Must be able to obtain and maintain eligibility for issuance of a NASA credential.

Knowledge :

• Extensive knowledge of state government management processes, budget development, execution, monitoring, and analysis.
• Demonstrated knowledge of techniques for analysis of complex financial data, financial transactions, and preparation of financial reports.
• Knowledge of generally accepted accounting principles and practices of budget administration, procurement, inventory, security and financial management related state and federal policies and procedures.

Skills :

• Extensive quantitative and analytical skills.
• Superior interpersonal, verbal, and written communication skills, effective in training and conducting presentations.
• Considerable skill in the use of computers, Microsoft Office Suite, financial systems, and various software.

Abilities :

• Ability to develop and implement organizational processes for effectively managing finances and maximizing the use of available resources.
• Ability to think strategically.
• Ability to foster teamwork and to work effectively and collaboratively as a member of executive leadership.
• Ability to communicate well verbally and in writing; work effectively with other authority staff and vendors; manage multiple tasks;

consistently meet deadlines; participate in short-and long-range planning for the authority.

• Demonstrated ability in supervising professional staff and in staff development.
• Ability to complete authority expectations for training within required timeframes.
• Physical Demands : Work is light requiring lifting of computer equipment and involves typical office behaviors. While performing the duties of this job, the employee is regularly required to sit;

use hands to finger, handle, or feel and talk or hear. The employee is frequently required to reach with hands and arms.

The employee is occasionally required to stand; walk; climb or balance; stoop, kneel, crouch, or crawl.

The employee must regularly lift and / or move up to 10 pounds.

Specific vision abilities required by this job include close vision and ability to adjust focus.

Work Environment : Work is performed in a typical office setting.

Salary : Up to $185,000

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