Chief Financial & Administrative Offiver

Compass Working Capital Inc.

Job Description

About Compass

Anti-poverty programs in the United States provide critical, but insufficient, support to families with low incomes. If we are to end poverty and close racial and gender wealth gaps in our communities, we must support families to build the financial assets and capabilities needed to achieve their goals and dreams.

Since 2005, Compass Working Capital (“Compass”) has been working to do just that, by providing savings and financial coaching programs that support families with low incomes to build assets, achieve their financial goals, and become financially secure. Our vision is to build a leading, nonprofit financial services organization that promotes economic mobility and financial security for families with low incomes by influencing field-related practice and policy. In late 2019, through philanthropic investment, Compass embarked on a strategic plan to significantly expand its national scope and impact. This investment provides Compass with the funding and support to ready the organization for greater impact by ending asset poverty for 220,000 families with low incomes by 2030. We envision a day when asset building is the norm, and not the exception, in our nation’s anti-poverty work.

About the Job

Reporting to the CEO and serving as a member of Compass’ six-person Executive Team, the Chief Finance & Administrative Officer (CFAO) will lead Compass’ finance, operations, vendor management, facilities, and risk management functions as Compass scales its work and impact. Currently operating with an $8M+ budget and staff of over 50 employees, the CFAO will play a hands-on role ensuring that Compass has the financial and operational structure, and processes to achieve its mission. The CFAO will also serve as Treasurer of the organization, make presentations to the Board’s finance and audit committees, and oversee an accounting director, staff accountant, and administrative associate.

In addition, the CFAO will oversee all day-to-day finance operations, including functional responsibility over accounting, accounts payable, accounts receivable, payroll, and grants administration, and ensure Compass has flawless annual audits. The CFAO will ensure that Compass has the systems and procedures in place to maintain compliance with state and federal requirements, to properly manage organizational risk, and to support effective program implementation. Finally, the CFAO will work closely with program leaders and their teams to ensure a strong integration of finance and program operations. 


All Compass staff embody our values

Believe in People: At Compass, we have a fundamental belief in all clients and their ability to achieve their goals and dreams. Our unique approach to coaching fosters a culture of aspiration, dignity, and hope.

Pursue Excellence: We hold ourselves to the highest professional and ethical standards in every aspect of our work, and we strive to always do better.

Go Further Together: Our team builds trust, respects each other, and acts with care and empathy. We believe in harnessing our strengths to find joy in what we do and in doing this work as a team, and to bring out the best in each other.


Primary Responsibilities

Strategy

  • Partner with the CEO on all operational and strategic issues; provide strategic recommendations to the CEO based on financial analysis and projections, cost identification and allocation, and revenue/expense analysis.
  • Participate in the ongoing strategic planning process as an integral member of the Executive Team.
  • Oversee long-term budgetary planning and cost management in alignment with Compass’ strategic plan.
  • Engage the Chief Development and Communications Officer to align financial management with short- and long-term financial planning and projections.
  • Engage the Board finance committee around issues, trends, and changes in the operating model and operational delivery.
 

Financial, Administrative and Operational Management

  • Oversee the creation and implementation of budgets, monitor progress, and present operational metrics both internally and externally.
  • Oversee the preparation and approval of all financial reporting materials and metrics for all funders, Compass’ finance and audit committees, and Board of Directors; prepare and present monthly and annual financial statements.
  • Lead enterprise-wide management of facilities, compliance systems and legal affairs, including oversight of part-time outside counsel, as related to insurance and other risk management strategies in alignment with federal, state and local legal and regulatory requirements.
  • Implement and oversee contract and vendor management processes in partnership with Director of Impact & Innovation, including oversee implementation and maintenance of supplier diversity policy and plan.
  • Oversee and manage all formal finance and operational procedures, processes, and administration, recommending improvements to the systems in place and managing the systems going forward.
 

Finance and Accounting Leadership

  • Lead the development of the organization’s long-term financial strategy including financial models, analyses, cash flow, and forecasts that will strengthen the organization’s balance sheet and set other appropriate financial targets to ensure strong financial health and sustainability.
  • Oversee all accounts, ledgers, and reporting systems ensuring compliance with appropriate GAAP standards and regulatory requirements.
  • Maintain internal control and safeguards for receipt of revenue, costs, and program budgets and actual expenditures.
  • Oversee all financial, project/program and grants accounting; ensure that expenditures are consistently aligned with grant and program budgets throughout the grant/contract period.
  • Partner with the Chief Human Resources Officer to enhance and integrate finance and HR functions.
  • Manage and track the performance of invested assets in keeping with policies and investment guidelines.
  • Coordinate all audit activity.
 

Team & Organizational Leadership 

  • Serve as a leader and mentor to direct staff with a focus on building trusted relationships and overseeing continuing professional development and management of a high performing and inclusive team; potentially grow the team and/or external vendor relationships as necessary to ensure operational excellence.
  • Engage other members of the Executive Team to facilitate cross-department collaboration that ensures that all financial solutions positively support Compass’ evolving strategy, operational delivery, and data collection needs.
·       Serve as an internal leader of the organization as a member of the Executive Team strengthening internal communications with staff at all levels throughout the organization and ensuring that diversity, equity, and inclusion are primary in organizational decision making, practices and culture.

Qualifications and Skills

The CFAO will be a seasoned, mature, and hands-on leader with at least 10-12 years of broad finance experience, including a proven track record in managing finance (accounting, budgeting, control, reporting, and forecasting) for a high growth, nonprofit organization.

 

The CFAO will have the following experience and attributes:

  • A minimum of a BS and CPA/CMA; an MBA would be a plus
  • Demonstrated excellence in managing finance, accounting, budgeting, control, reporting, and forecasting
  • Prior experience coordinating audit activities 
  • Proven track record in working directly with senior leadership, ideally in a high growth, nonprofit organization 
  • Proven track record in developing, recommending, and implementing best-in-class financial, and operational policies and procedures
  • Strong analytical skills and experience interpreting a strategic vision into an operational model 
  • Demonstrate agility, and growth and scale mindset with a “roll-up-your sleeves” approach to the work
  • Hands-on manager with integrity and a desire to work in a dynamic, mission-driven environment
  • Effective communicator, with excellent oral and written skills; experience in effectively communicating key data, including presentations to senior management, board or other outside partners; ability and desire to translate complex financial concepts to individuals at all levels including finance and non-finance managers
  • Advanced knowledge of accounting and reporting software
  • Strong commitment to developing diverse team members
  • Demonstrated commitment to Compass’ mission and values 
 
This job description is not intended to provide a comprehensive listing of all duties or responsibilities. Job duties and responsibilities may change at any time based on coaching methods and program partners.

Benefits 

The salary range for this role is $125,000-$140,000. We’ll promote your professional growth and development by providing access to a competitive salary and benefits package and additional employee benefits that include but are not limited to:



Healthcare: medical, dental, vision

Retirement plan 401(k) & match

Life insurance & disability Insurance

Paid time off 

Paid parental leave

Flexible Spending Account (FSA)

Dependent Care Flexible Spending Account

Professional development & certification

Pre-tax commuter benefits

Employee Assistance Program (EAP) 



Additional Information

Compass’ national headquarters is in downtown Boston, and the organization has a growing field presence in Philadelphia. Staff primarily live and work across the northeast region and in Philadelphia. The CFAO can be based anywhere within the Eastern Standard or Central time zones, with a preference for Greater Boston or Greater Philadelphia. Travel to offices in Boston and Philadelphia may be required occasionally. Travel to future field offices might be required as the organization expands nationally. Compass is an equal opportunity employer and committed to hiring individuals who reflect the diversity of the communities it serves. 

Timeline and Hiring Process

We will review and respond to all applications received. While subject to change, candidates elected to advance throughout the process can expect to progress through a process that includes initial conversations with Human Resources, an interview with the Strategic Advisor and Chief Human Resources Officer, and a final interview day with the Chief Executive Officer, Accounting Director, and Chief Development & Communications Officer. Anticipated start date is June 2022.

Equal Opportunity Statement

Compass Working Capital is an Equal Opportunity Employer. We consider applications for all positions, without regard to age, race, color, ethnicity, national origin, ancestry, creed, religion, gender, gender identity or expression, sexual orientation, citizenship, physical or mental disability, medical condition, genetic information, marital status, veteran status, military status, or any other characteristic protected by applicable law.

Compass Working Capital is committed to ensuring individuals with disabilities receive the accommodations required for them to interview for a position on our team. Should you require accommodations, please contact hr@compassworkingcapital.org.