Reporting to the CEO, the CFO directs the financial and associated business matters affecting New Moms. As a member of the executive team the CFO provides strategic financial leadership that both contributes to growth and ensures sound financial management. The CFO drives accurate and timely financial operations including all accounting, financial reporting, legal compliance, benefits and payroll administration, and contract compliance. Through monitoring and assessing enterprise risk the CFO is also responsible for protecting all assets of the organization, including data, and to ensure all financial practices are carried out ethically and with strong internal controls. The CFO will champion all New Moms values including our commitment to diversity, equity and inclusion, in both strategic planning and performance.
Key Job Responsibilities:
Financial Management & Reporting (35%)
Analyze financial data and present financial reports in an accurate and timely manner for the CEO, Board, and budget managers; employing not-for-profit accounting standards, clearly communicate monthly and annual financial statements with the appropriate level of budget variance analysis and recommendations for corrective action
Manage organizational cash flow and forecasting
Oversee all financial, project/program and grants accounting (federal and private foundation grant management)
Implement a robust contracts management and financial management/reporting system; ensure that the contract billing and collection schedule is adhered to and that financial data and cash flow are steady and support operational requirements
Lead reporting and analysis of financial operations for social enterprise, Bright Endeavors, and New Moms’ LLCs
Finance Team Leadership (20%)
Serve as a member of the Executive Leadership Team, providing financial planning and oversight
Directly supervise finance personnel, including the Senior Director of Finance and outsourced financial support
Staff the Board Finance Committee, working closely with the Treasurer and CEO to prepare materials for meetings and engage Committee on strategic financial issues and questions
Annual Budget /Strategic Planning (15%)
Lead the annual budgeting and planning process in conjunction with the CEO and Board Finance Committee, with presentation of preliminary and final approval versions to the Board
Audit Processes and Annual Reporting Requirements (10%)
Oversee the annual audit process including the preparation of IRS Form 990, Uniform Guidance, and state tax returns; manage the Senior Director of Finance’s activities in these areas
Risk Mitigation and Other (20%)
Provide risk-mitigation oversight to systems containing data including HR, participant, donor, and customer information
Performs other related duties as assigned
New Moms’ Benefits: We offer a comprehensive benefits package to full-time employees including health, dental, vision, disability, and life insurance; matching on retirement savings up to 3%; 14 paid holidays; and generous paid time off. We also offer several unique benefits to New Moms: discounts on Bright Endeavors products, free optional spiritual direction services, and half days on Fridays in the summer.
About the Organization:
The mission of New Moms is to express the love of God by surrounding young moms and their children with all they need to transform their lives. New Moms is a 36 year old nonprofit organization, with a budget of nearly $6 million and a staff of nearly 60, focused on serving young moms in Chicago and the near western suburbs. New Moms’ model provides a comprehensive range of services to young moms and their children including supportive transitional housing, workforce development, early childhood services, and parenting support and education. New Moms’ headquarters is located on the west side of Chicago in the Austin neighborhood. Our social enterprise, Bright Endeavors, which provides paid transitional jobs for young moms, is located nearby in the West Garfield Park neighborhood. We also have an office in Oak Park serving the near western suburbs.
Our Commitment to Equity:
New Moms prioritizes racial equity as a strategic and organizational imperative. Strong candidates will be committed to integrating diversity, equity, and inclusion (DEI) values into their work goals and will be evaluated on their impact.
Master’s Degree in accounting, finance and/or business management required; MBA or CPA highly preferred
Ten years minimum financial management experience is required; nonprofit management experience preferred
Experience supervising staff in financial roles
Experience managing public funding contracts
Exceptional ability to organize information, think critically, and problem solve. Ability to manage detailed information while also translating to a higher level.
Excellent computer skills with the following or similar tools: Microsoft Office, including Word, Excel, and PowerPoint; Google, including calendars; financial data software, such as Fund EZ and Quickbooks; and experience integrating various technology tools
Ability to think strategically, weigh limitations when considering visionary ideas, and commitment to finding the best solution for the enterprise
About New Moms
Our mission is to express the love of God by surrounding young moms and their children with all they need to transform their lives.