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Chief Financial Officer & Treasurer

Req Number: IF161
Location: Los Angeles, California
Posted: 7/22/2020
Category: Government/Not-For-Profit : Not-For-Profit
Job Type: Permanent

Position Chief Financial Officer and Treasurer (“CFO”)

Company The Catholic Community Foundation of Los Angeles (“CCF-LA”) https://catholiccf-la.org/

Location Los Angeles, CA

Reporting Relationship The CFO reports to the President and Executive Director

COMPANY BACKGROUND

The Catholic Community Foundation of Los Angeles empowers charitable individuals and organizations across cultures and generations through professional philanthropy management solutions that allow clients to develop and sustain their philanthropy in support of Catholic values.

CCF-LA combines professionals with over a half century of philanthropic endeavors, trusts, andmoney-management operations that have faithfully served the Catholic community. Incorporated in April 2014 and filed for charitable status in November 2014, a team of highly respected financial and legal minds came together to form CCF-LA’s Founders Board. Several entities heard about this effort and offered to move their financial assets to the new foundation, providing an initial funding of over $100 million and by the end of the first year had created one of the largest Catholic community foundations in the United States with assets under management of $189 million.

For the fiscal year ended December 2019, CCF-LA had over $364 million in assets under management held in over 200 funds, representing a 55% increase over the prior year. Assets under management have grown dramatically since CCF-LA’s inception in 2014 and continue to grow under the leadership of an exceptional team. The tremendous growth has been a clear signal that the word is getting out about CCF-LA’s commitment to superior client service and to their mission, and the trust and investment by clients in what CCF-LA stands for and how they serve the community.

Please visit https://catholiccf-la.org/wp-content/uploads/2020/05/CCFLA-2019-ASA.pdf to view CCF-LA’s full 2019 Annual Statement of Accountability and learn more about the tremendous work of the Foundation.

KEY RESPONSIBILITIES

CCF-LA seeks a talented Chief Financial Officer and Treasurer to help lead the Foundation tothe next level. Reporting to the Executive Director, the CFO will play a pivotal role in the overall financial and operational management of the organization.

The successful candidate will interact with the staff, Board, clients, fund managers and service providers on a regular, ongoing basis. The CFO will select and implement information systems to generate accurate and timely financial and operational reports, which will be presented to the Board, along with actionable recommendations to control spending and improve overall operational efficiency.

The CFO is also responsible for negotiating contracts and working arrangements with a variety of third-party service providers including bankers, attorneys, CPA’s and insurance brokers, among others. The CFO will also ensure that, as fiduciary of the funds, the Foundation’s financial management systems and accounting policies and procedures include the necessary internal control features to safeguard the assets under its management.

Key responsibilities of the CFO include:

Leadership & Management / Behavioral Competencies

• Strategic leader who can communicate, coach and mentor effectively across functions within the organization.

• Team builder who can motivate and inspire others and build trust across an organization.

• Ability to establish credibility and be decisive; make decisions and recommendations that are solution-oriented and support the organization's preferences and priorities.

• Skilled at making presentations with credibility to clients and prospects on financial market performance and CCF-LA operations.

• Mind-set for continuous improvement and critical thinking skills.

• Ability and willingness to operate both strategically and tactically and to translate strategies into pragmatic plans that serve and support the Foundation and its clients.

• Collaborative, transparent style of communication and leadership, yet able to influence agenda.

Accounting and Financial Controls

• Recommends and implements financial strategies for CCF-LA.

• Generates monthly, quarterly and annual financial statements, footnotes, and presentation to the Board, management, customers and investors.

• Directs preparation of the annual budget, analyzes monthly actual vs. budget variances and maintains an ongoing cash flow forecast for the Foundation.

• Directs the preparation of materials for the annual audit and works closely with outside auditors to ensure accuracy and timeliness in the issuance of the annual audited financial report, IRS tax Form 990 and other necessary regulatory reports.

• Supports the preparation of the Annual Statement of Accountability which is the annual report for marketing purposes while providing key year-end financial results.

• Ensure excellent management of relationships as the primary point of contact with financial and operational advisors, banks and other financial institutions working with CCF-LA, including reconciliation of investment and bank accounts..

• Oversees all upgrades, support plans, and implementation of accounting software to ensure that financial results are reported in accordance with GAAP and also include the requisite internal control features to safeguard the assets of the Foundation.

• Ensures compliance and maintains procedures for corporate policies related to financial operations: Gift Acceptance, Document Retention, Investments.

Treasury and Investment Management

• Manages the relationships with the institutional investors, advisors and custodian for the financial assets under management; ensures that allocation guidelines as approved by the Board are consistently adhered to in managed investment funds.

• Prepares presentations for and attends quarterly Board meetings, with timely focus on investment results and audit updates.

• Primary responsibility for scheduling the Audit Committee and the Investment Committee meetings. Ensures presentations are prepared and submitted in a timely and accurate manner.

• Manages all aspects of the Foundation’s bank accounts and check writing policies.

• Reviews and confirms fund performance detail as reported monthly by the fund managers. Prepares the monthly investment results for all invested funds.

• Responsible to coordinate with the service provider in issuing client statements on a monthly basis.

• Updates the monthly Disclosure Statements on all pooled investment options available to clients.

• Responsible for compliance with disbursements/grant and deposits/contributions procedures and policies, making recommendations as needed.

• Responsible for relationships with corporate insurance brokers, ensuring that all policies related to operations and governance are in force and effect at the limits prescribed by the Board.

• Assists in the strategic planning process with particular emphasis on how financial markets impact long term planning. .

• Performs other related duties as assigned by the Chairman, President or Board members as stated in compliance with CCF-LA’s By-Laws.

PROFESSIONAL EXPERIENCE AND QUALIFICATIONS

The ideal candidate will have a minimum of 10 years of experience in progressively responsible financial management leadership roles within fast-paced growth-oriented environment. A blend of both for-profit and not-for-profit experience is considered a plus; experience within an asset management or financial services company beneficial.

The CFO will demonstrate exceptional leadership and communication skills. The ideal candidate will have a deep commitment to CCF-LA’s mission, and will be driven to serve and support the principles of the Catholic faith.

Additional requirements include:

Functional Competencies – Skills, Knowledge & Experience

• Breadth and depth across all areas of the finance function including accounting, financial reporting, budgeting and planning, internal controls, tax, treasury and investments.

• Strong business acumen with proven drive for results.

• Exemplary time management skills and the ability to multi-task.

• Outstanding oral and written communications skills.

• Proven technical skills, analytical ability, good judgment and operational process focus.

Personal Characteristics

• A person of unquestionable integrity and moral character; an individual other can trust without reservation.

• Demonstrates confidence and financial acumen in working with all stakeholders.

• Self-starter, self-motivating leader who requires little to no supervision and who can operate successfully in a fast-paced culture.

• Passionate and energetic with the ability to motivate and inspire.

• Well-developed interpersonal skills; ability to get along with diverse personalities.

• Entrepreneurial spirit with a strong work ethic – “can do” and “get the job done” attitude.

• A creative, strategic thinker, and a good listener.

EDUCATION

• Bachelor's Degree in Finance, Accounting or related subject

• CPA and/or MBA in Finance desirable

IF161

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