Chief Financial Officer - Portsmouth, United States - Portsmouth Abbey School

Description

Title: Chief Financial Officer

Department: Administration

Reports To: Head of School

FLSA Status: Full-time, Exempt, On-Site

About Portsmouth Abbey Monastery and School

Founded as a non-profit 501(c)3 charitable organization, Portsmouth Abbey Monastery is a Benedictine community of monks located in the town of Portsmouth on Aquidneck Island in Narragansett Bay , Rhode Island , United States . The mission of the community is to seek God guided by the Gospel , the Rule of St. Benedict , and most importantly, prayer and work.

Portsmouth Abbey School, LLC, a wholly-owned subsidiary of the Monastery of which the Monastery is the sole member, is a coeducational Catholic boarding and day school for students in grades 9 through 12. Founded in 1926 by the English Benedictine Congregation, the School is located on a 525-acre campus along Rhode Island's Narragansett Bay, less than 30 minutes south of Providence and 20 minutes from Newport. Portsmouth Abbey combines a classical education in the Catholic intellectual tradition with Benedictine values. With 350 students, the School believes that the love of learning leads to the desire for God, and that the quest for intellectual understanding propels students to the search for ultimate meaning. The School is known for encouraging students to engage passionately in academic and intellectual pursuits, innovative electives, extensive opportunities in athletics, the performing and visual arts, as well as a commitment to service and a focus on things that matter. Students are inspired to become the next generation's leaders, stewards, innovators and problem solvers all the while grounded in Benedictine values of love of God and neighbor, humility, hospitality and a desire to serve the common good.

Job Summary:

Portsmouth Abbey Monastery and School seeks a full-time Chief Financial Officer (CFO) who will work as an integral part of the Monastery and School's administrative team in support of their mission of helping young men and women grow in knowledge and grace. The CFO must be well-versed in all aspects of financial management ranging from simple accounting to broad investment and banking operations. The ideal candidate will have excellent communication, management and analytical skills and the ability to manage a $21 million annual operating budget.

Primary Responsibilities include the following:

• Report to the Head of School, collaborate closely with the Board of Directors and contribute to the School's long-term strategic and financial planning.
• Maintain an open-door policy to promote transparent and flexible communication between staff, faculty and administration to foster a culture of trust, collaboration and continuous improvement within the School.
• Maintain accounts related to nonprofit organizations following the pronouncements of the Financial Accounting Standards Board of the American Institute of Public Accountants.
• Oversee all functions and staff members of the Business Office including the Controller/Payroll Supervisor, Business Office Coordinator/Accounts Receivable Coordinator, Accounts Payable Coordinator, Bookstore Manager and Receptionist.
• Provide strategic leadership, analysis, and management of the School's finances.
• Support the Monastic Council and the School's Board of Directors by setting meetings, performing background work, material preparation and presentation, executing decisions and follow up, and documenting meeting minutes.
• Oversee treasury management and maintain strong relationships with banks and lending institutions to ensure adequate funding for the School's needs and in compliance with all loan covenants.
• Support and execute the School's endowment management strategy in collaboration with the School's strategic plan.
• Work closely with external auditors and ensure that the annual audits are completed in a timely fashion.
• Manage School insurance, including general liability, excess liability, educators' legal liability, workers' compensation fiduciary and cyber liability.
• Manage the risk management program to ensure the best pricing and insurance program and reduce risk exposure to the School.
• Oversee all rate negotiations and rate renewals as related to employee benefit programs, including health insurance, retirement plans, short and long-term disability, life insurance, workers' compensation, and other related plans.
• Work in collaboration with the Operations department and contracted services, such as dining services, to ensure efficient cost management of projects and services.
• Oversight of tuition revenue, student accounts, and bookstore purchase transactions.
• Oversee and maximize revenue from summer programs and hockey rink.
• Serve on the Head of School's administrative team and participate in other teams and committees, as requested.
• Develop and implement financial strategies that support the School's mission and goals, are consistent with the organization's fiscal policy, and comply with state and federal laws.
• Pursue and analyze alternate sources of financing with the state and federal agencies to provide the lowest cost of money to support programs and activities.
• Oversee financial reporting to relevant constituencies including the Head of School, Board of Directors, and others as needed.
• Ensure that the various constituencies of the organization, particularly the faculty, staff, and members of the monastic community, receive empathetic support from the Business Office.
• Be willing to assume other duties as requested by the Head of School, including but not limited to the work assigned in the Strategic Plan.
• Create, implement and evaluate budgets and cost projection, and ensure that projects and accounts are managed cost-effectively.
• View, reconcile and approve payables, including credit card expenditures.
• Complete all surveys including US Economic, Association of Independent Schools in New England and other surveys, as requested.
• Negotiate and approve contracts with outside vendors.
• Provide similar services as above for the Monastery. Physical Demands:
  While performing the duties of this job, the employee regularly is required to sit; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee frequently is required to walk. The employee occasionally is required to stand; and stoop, kneel, crouch, or climb. The employee must occasionally lift and/or move up to 40 pounds.

  Salary: Commensurate with experience and education.

  Benefits:

  Pension (403b): PAS contribution of 10%; employee contribution of 1%, after 2-year waiting period (waived with prior educational experience)

  Health insurance: United Healthcare; Waive, $3,100 stipend

  Dental insurance: Delta Dental

  Life insurance: equal to one year's salary

  Short-term disability (TDI): paid by employee and administered by State of RI

  Long-term disability: 90-day qualifying period; 60% of salary; $7,500 maximum monthly benefit (conversion privilege)

  AD&D: per policy

  Employee Assistance Program: free and confidential

  Tuition remission: 100% tuition remission

  Position open until filled.

  Please email a letter of interest and resume to:

  Kristie Garcia

  Human Resource Coordinator

  No phone calls please.

  Minimum Requirements:

  • BS/BA in accounting with a minimum of 7-10 years of experience in accounting, including leadership experience, is required. Prior job experience in nonprofit accounting, reimbursement, financial compliance, cash management, contracting, purchasing, risk management and investing is essential. CPA or equivalent experience preferred.
  • Must understand the importance of customer service and provide leadership in ensuring that the Business Office is seen as a positive department within the Monastery and School by communicating with sensitivity and empathy with various constituencies, including parents, faculty, Board of Directors and the school community.
  • Must be a team player and possess desire to work positively with the other members of the administrative team, staff members in the Business Office, the Monastery and School communities, and parents and families.
  • Expertise in complex financial instruments, experience with capital projects, and an ability to develop financial strategies aligning with strategic priorities are crucial.
  • Knowledge of Blackbaud Financial Edge or similar not-for-profit accounting package required.
  • Experience at an independent school is extremely beneficial, though individuals with strong financial and leadership skills are welcome.
  • Experience managing a team, setting clear responsibilities and expectations, and clear methods of accountability.
  • Skilled at negotiating contracts with external vendors.
  • Flexibility in schedule in the event of emergencies or special functions, etc.
  • Support the Catholic, Benedictine mission of the School and Monastery. Other Qualifications:

    All prospective employees must be able to clear a background check.