Vice President Finance - Texas, United States - IDEA Public Schools

Description

IDEA Public Schools is searching for a Vice President of Finance. The Finance Team supports the leadership at IDEA to meet and exceed our ambitious financial and student achievement goals. The VP of Finance will lead financial planning, budget management, finance systems, portfolio investment decisions, commercial banking business operations and relationships, real estate acquisition/campus launch schedule and various facility financing structuring functions across all IDEA entities. In doing so, the VP of Finance will be charged with setting and executing on the strategic financial vision for our growing organization and managing staff to sustained efficacy in all aspects of their scope.

Location:

This is a full-time remote position based in Texas .

Required experience:

• Bachelor's degree in accounting, management, finance, business or another relevant field. Master of Accountancy or Business Administration preferred.
• 10 years of work experience with 5 years finance, accounting or auditing experience; preferably non-profit or educational setting
• Mastery in MS Excel and proven experience in building and maintaining complex financial models required.

Compensation & Benefits:

Salaries for people entering this role typically fall between $161,600 and $198,800, commensurate with relevant experience and qualifications and in alignment with internal equity. This role is also eligible for performance pay based on organizational performance and goal attainment.

Additionally, we offer medical, dental, and vision plans, disability, life insurance, parenting benefits, flexible spending account options, generous vacation time, and a 403(b) plan.

In this role you will:

Achieve annual operating goals to ensure long term financial stability for IDEA Public Schools of Texas and IPS Enterprises.

• Work with Senior Leadership to incorporate expansion plans into the budget planning process to ensure IDEA Texas maintains a targeted Maximum Annual Debt Service on all historical and projected debt.
• Partner with Strategic Planning Team, Advancement and Executive Directors to establish Fundraising Goals, Regional Financial Models and Budgets to achieve all compliance with all financial covenant requirements for IPS Enterprises, Inc.
• Create the Plan of Finance under the direction of the Chief Financial Officer. Maintain the Plan of Finance and work with Senior Leadership, Rating Agencies, Financial Advisors, Underwriters, Banks and Investors to achieve optimal financing structures to support IDEA Texas and IPS Enterprises capital improvement program (CIP).

Upload a balanced budget by the start of the new fiscal year for all IDEA entities

• Strategically lead the annual financial planning and budget process in partnership with key stakeholders and cross functional teams such as Human Assets
• Ensure the annual financial planning and budgeting process is holistic and adapts to meet the planning needs of the organization in any given fiscal year
• Manage the master budget and pro formas through preliminary drafts, scenario planning, and final adoption
• Ensure annual planning and budgeting project milestones and deadlines are met
• Lead the Financial Planning & Analysis team to support fiduciaries and budget owners and their staff during the annual planning and budgeting process
• Project and allocate enterprise revenue and expense forecasts, coordinating with internal partners to ensure accurate projections

Guide national, regional and school teams in meeting their financial targets

• Ensure the Finance team produces high quality reporting and analysis that assists budget managers and support staff in understanding the impact of monthly and year-to-date budget to actuals, and other key financial performance indicators
• Lead the Financial Planning and Analysis team to build and update rolling forecasts in partnership with school and regional leaders to ensure schools and regional budgets will meet annual operating income targets
• Consult with schools and teams that are off track and provide actionable recommendations to improve financial performance
• Partner with the Finance Services team to ensure high quality support, reference materials, and development options are available to financial managers

Lead the maintenance of long-term financial models for existing regions based on IDEA's strategic plan, national expansion and program changes.

• Support the development of mathematical, analytical, statistical constructs and models to understand the impact of operating across existing and new regions
• Align financial model outcomes with annual budgeting and proforma processes
• Train internal stakeholders (Executive Directors, Senior Leadership, Advancement Leadership, etc.) on the purposes and outcomes of regional financial models

Achieve no less than specific targeted days of operating cash on hand at June 30 for each IDEA entity

• Partner with the head of Treasury and other members of the finance team to manage the cash position for all entities, meeting regulatory requirements, debt covenants, and philanthropic covenants.
• Maintain and utilize available Lines of Credit to supplement as necessary or maximize cash efficiency across all entities
• In partnership with the VP of Finance & Compliance develop and maintain a strategy to repay the Accounts Receivable Balance to one month of lag of operations.
• In conjunction with finance leaders for IDEA Texas and IPS Enterprises, as applicable, on an ongoing basis, oversee the production of a quarterly and annual cash flow forecast to ensure no deficit spending.
• Maintain productive relationships with banking partners and financial management consultants to ensure products and services are best aligned to organizational needs.

Lead the Real Estate acquisition process

• Under the direction of the Chief Financial Officer, partner with construction management teams to initiate all diligence required to evaluate potential real estate acquisitions
• Work with Real Estate Brokers and Legal Counsel to successfully negotiate and put under contract all properties required for expansion.
• With the support of the Chief Financial Officer and Financial Advisors ensure capital or fund source is available for funding and manage business office support to close all transactions.

Manage liquidity and capital support needed to fund operational capital needs

• Under the direction of the Chief Financial Officer partner with construction management team to regularly evaluate historical, current and proposed CIP costs incurred.
• With the support of the Chief Financial Officer and Financial Advisors manage all sources of interim financing, evaluating optimal utilization of resources and renewing the facilities as needed.
• Work with Financial Planning & Analysis, transportation, information systems, Child Nutrition and facilities team to establish capital expenditure and capital replacement budgets and establish plan for financing.

Strategically lead the compensation of all IDEA staff ensuring it is accurate, timely and that team and family members deeply understand their compensation through informed managers, purposefully training touchpoints, high quality professional development and robust reference materials

• Lead the execution of all regular payroll processes for monthly instructional, monthly non-instructional, bi-weekly hourly, bi-weekly extended, and substitutes
• Oversee the execution of all compensation streams including campus stipends, athletic stipends, summer school and performance pay process
• Ensure compliance to all state and federal wage and hour laws and other government entities, and all state and federal reporting executed on time and accurately
• Leverage processes in Tyler Munis to ensure state compliance, ensure the utilization of Tyler Munis modules are strategic and best use Payroll Team time and resources
• Maintain and audit staff set up in Tyler Munis systems for each IDEA entity, partnering with external teams to ensure accuracy
• Partner with the Accounting and Financial Planning and Analysis Teams to ensure accurate account coding for all compensation streams with a focus on fund sources; share all submission files with the IDEA payroll accountant and other stakeholders
• Partner with Human Assets and Finance Teams to develop annual work and payroll calendars
• Maintain data and reporting regarding key metrics, develop a dashboard available to mangers to provide additional transparency and visibility to payroll accuracy
• Strategically partner with other key stakeholders such as the Compensation and Benefits Team, Employee Information Systems and Financial Planning and Analysis to ensure team and family members have access to accurate information regarding the compensation process, and receive a timely response to requests for clarification or corrections

Travel Expectations:

Up to 20% of the time during the busiest parts of the year.

Supervisory Responsibilities:

The VP of Finance will supervise up to six direct reports overseeing functions such as Financial Analysis, Treasury, Budgeting, Payroll, and Financial Systems