Chief Financial Officer

Title : Chief Financial Officer

Department : Finance

Reports To : CEO and Executive Director / Deputy CEO

FLSA : Exempt

Grade : 20 Senior Team

POSITION DESCRIPTION AND SCOPE

The Chief Financial Officer (CFO) works with the executive director to ensure strong financial controls and management to fully support the issuance of annual grants approximating $1.

5 billion to Massachusetts public K to 12 schools. The CFO will be responsible for the management of the Finance and Audit teams in the delivery of the day-to-day work including the annual budget, audited financial statements, timely reimbursements to cities and towns and ongoing management of the MSBA’s ERP system.

As a member of the MSBA’s senior leadership team, the CFO will provide strategic expertise and insight and create strategic financial plans for debt issuance and investments that promote best opportunities for the MSBA’s program.

All potential candidates should read through the following details of this job with care before making an application.

ESSENTIAL FUNCTIONS AND RESPONSIBILITIES

• Demonstrated knowledge and experience in the implementation and management of compliance with financial policies, procedures, standards, and systems for all financial operations of the MSBA, including a comprehensive system and structure for internal controls.
• Responsible for all financial activities in collaboration with the Director of Audit, Treasurer and Director of Budget and Financial Administration.
• Manage the annual audit of the financial statements including responsibility for the controls and standards needed to prepare the documentation.
• Collaborate with the MSBA’s business information and technology division and outside vendors to ensure efficient management for the ERP system including the reconciliation and integration of MSBA systems and the enhancement of standard and ad hoc reporting.
• Manage debt issuance and the MSBA’s portfolio of outstanding debt and related financings in compliance with the MSBA’s debt management policies.
• Manage the investment of MSBA’s restricted and unrestricted cash balances, compliance with continuing disclosure obligations and other related federal and state financial regulations and requirements.
• Manage timely and accurate payments for the grant administration of MSBA approved projects, including calculation of grant reimbursement rates and final audits of completed projects.
• Report regularly on the expenditures and revenue of the MSBA and develop more in-depth analysis of spending trends and cash flow needs to inform capital planning programs and long-term borrowing strategies.
• Ensure the accuracy of financial reporting and that all requirements and obligations are met.
• Review and report on Massachusetts sales tax revenues, including analysis of trends of future revenue and debt. Coordinate, collaborate and support relevant work with the Director of Capital Planning related to the strategic development, growth and composition of the MSBA program / mission.
• Interface as necessary and required with related third-party entities such as MSBA’s Bond and Disclosure Counsel(s), Rating Agencies, the Internal Revenue Service / U.

S. Treasury, financial entities (financial and investment advisors, banking and other financial institutions and entities), and representatives of the Commonwealth.

• Attend special meetings, investor meetings, credit agency presentations, and hearings as required and / or as directed by the Chief Executive Officer and Executive Director.
• Manage and issue accurate financial reporting for the Executive Director and the Board of Directors. Prepare and publish complex financial reports, documents, and relevant information as is, or may be required by the Commonwealth, other state entities, the Federal government, and the public.
• Attend and present at the meetings and sub-committee meetings of the MSBA Board of Directors.
• Responsible for the MSBA’s OPEB Trust Committee. Manage the investment of funds deposited in an irrevocable trust account established by the MSBA, interfacing with related Commonwealth agencies, setting annual funding levels, the transfer of funds to and from MSBA’s operating account to the Trust and financial reporting.
• Engage with cities, towns, regional school districts, community organizations and Commonwealth agencies, authorities, departments and other governmental units regarding fiscal interactions with the MSBA.

SUPERVISORY RESPONSIBILITIES

• Manage and grow the Finance and Audit teams. Mentor, identify training and motivate. Focus on recruiting talent as needed to support the day-to-day work as well as the MSBA’s initiatives.
• Procure and manage consultants, contracted employees, and outside vendors, as applicable.

REQUIRED KNOWLEDGE AND SKILLS

B.A. or B.S. required; CPA, MBA, or similar Master’s degree or advanced certification(s) in Accounting or Finance strongly preferred.

Demonstrated knowledge and experience in Finance, Accounting, Debt Management and financial planning.

• Minimum of 15 years of professional experience with the Commonwealth of Massachusetts, other state agencies or entities and / or a combination of public and private sector professional experience with, or related to, the financial operations and finances of governmental entities is strongly preferred.
• 7 to 10 years of management and supervisory experience.
• Exceptional communication skills, written and oral, experienced in presentations to Executive and Board of Directors.
• Mission-driven and self-directed professional with leadership skills who can attract, develop, coach and retain high-performance team members.
• Commitment to working collaboratively with the senior management team to deliver on agency goals in a timely and quality manner while striving to maintain the MSBA’s goal for excellence in customer service for Massachusetts school districts.
• A successful track record in setting priorities; keen analytic, organization, and problem-solving skills that support and enable sound decision making.
• Proficient in Excel and spreadsheet manipulation, PowerPoint, and Microsoft Word, experience with ERP financial systems.

$145,033 - $200,000 a year

This job description is intended to be general and will evolve over time. The description is subject to periodic updating.

At management’s discretion, the employee may be assigned different or additional duties from time to time.

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