Careers at NYSCI: Chief Financial Officer
New York Hall of Science
POSITION TITLE: CHIEF FINANCIAL OFFICER
REPORTS TO: PRESIDENT & CEO
JOB CODE: 11-1011.00
FLSA STATUS: Exempt (Professional)
Background: Since its founding at the 1964-65 New York World’s Fair, the New York Hall of Science (NYSCI) has inspired millions of people by offering creative, participatory ways to learn, and encouraging people to explore their curiosity and nurture their creativity. Located in Queens, the most ethnically diverse county in the country, NYSCI welcomes 500,000 visitors each year and serves thousands more through outreach in schools, teacher professional development and participation in a variety of public events and research initiatives.
NYSCI’s mission is to nurture generations of passionate learners, critical thinkers and active citizens through an approach we call Design-Make-Play. The defining characteristics of Design-Make-Play — open-ended exploration, imaginative learning, personal relevance, deep engagement and delight — are the ingredients that inspire passionate science, technology, engineering and mathematics (STEM) learners. NYSCI engages diverse communities of learners, particularly young people, in STEM, by fostering the excitement of self-directed exploration and by tapping into the joy of learning that is intrinsic in young people’s play. Our transformative model for STEM invites broad participation and makes learning and engagement irresistible.
NYSCI has approximately 120 full-time and over 180 part-time staff members and an annual operating budget of $20 million.
Position Overview: Reporting to the president and chief executive officer (CEO), the chief financial officer (CFO) is responsible for all financial matters of NYSCI including leading all financial administration, budgeting and forecasting activities, and actively participating in the organization’s overall fiscal strategy. The CFO oversees a department with 10 employees and has specific responsibility for finance, contracting and procurement, and human resources. The CFO works on a quarterly basis with the Finance and Audit Committee of the Board of Trustees to review financial reports and financial controls; supervise investment funds; and support the independent annual audit process. The CFO is responsible for setting the institution’s annual budget, which is reviewed and approved at the June board meeting.
- Accounting, grants and contracts management, and internal control, budgets, HR, risk management and insurance, payroll and compliances (including the selection of and oversight of all assigned staff, vendors and consultants).
- Work with the president to produce ongoing communications and reports for the Board and provide staff support to the Board Finance and Audit Committee.
- Work with senior staff, managers and the president to produce the annual budget, and establish metrics that can be tracked on a regular basis to assure fiscal control. Introduce the “six-quarter” rolling forecasting and budgeting process, and use that to produce periodic analyses of operations and capital projects.
- Monitor the annual budget month by month in conjunction with senior management and the Board Finance and Audit Committee. Report variances and work closely with earned revenue divisions to support growth strategies.
- Supervise grants and contract management to ensure optimal allocations to indirect cost recovery. Work with both Institutional Advancement staff and principal investigators to manage grants and contracts. Assist in the preparation of financial components of proposals and reporting to all funders.
- Produce regularly scheduled cash flow projections on the requested frequency.
- Manage NYSCI’s investment portfolio to ensure maximum returns within the Board-set investment policy.
- Produce external financial statements.
- Use internally developed metrics and/or peer benchmarks as appropriate.
- Forecast the need for any credit and negotiate borrowings.
- Participate in and adding strategic value to weekly Executive Cabinet meetings, as well as quarterly Board meetings.
- Oversee Human Resource (HR) function.
- Oversee procurement policies, practices and contracts.
- Develop and maintain ongoing collegial relationships and exchange of best practices with senior finance staff in New York City nonprofits and cultural institutions.
The appropriate candidate is an experienced financial professional with a minimum of 15 years in finance (10 years of that time in a managerial position managing financial staff), and a proven track record.
Comprehensive knowledge of generally accepted accounting principles (GAAP), and generally accepted auditing standards (GAAS), as well as Governmental Accounting Standards Board (GASB) and Financial Accounts Standards Board (FASB) pronouncements, is required. Prior experience managing the finance and administration of a similar-sized, nonprofit organization serving education and research services and cultural institutions, working with state and city contracts, sophisticated funds and grant accounting, compliances, and audit and reporting is preferred.
A successful candidate will be able to build and manage effective and streamlined administrative/financial systems, develop and monitor budgets, and manage annual audits, as well as establish and maintain financial metrics and variance reporting. Strong computer skills and recent experience with systems upgrades, conversions and implementations are highly desired. Proven experience overseeing point-of-sale revenue accounting, time and attendance, ADP payroll, Abila MIP Fund Accounting financial systems, and MS Office software is necessary. ERP and BlackBaud’s Raiser’s Edge experience is a plus.
A BA/BS degree is required. An MBA or other master’s degree is preferred. The CPA designation is a plus, but is not mandatory.
The CFO must possess:
- The ability to be both strategic and hands-on in approaching finance.
- The ability to run a finance operation that is customer focused and data-driven and makes use of technologies to improve processes and procedures.
- Experience in strategic financial analysis and business planning to support management decision-making, as well as experience in budget development and monitoring including cash flow projections.
- Proven abilities to be self-directed, think critically, achieve results, manage multiple, concurrent tasks – balancing the urgent and the important – meet all deadlines, and work well independently and as part of a team in a fast-paced environment.
- Excellent written and verbal communication, project management and organizational skills. Presentation skills should include ability to tailor information and delivery to audience; to anticipate, field and respond to questions; to adjust approach and content to last minute changes; and to present in various formats (slides, video, speaking).
- Experience working collegially and effectively across departments within a nonprofit organization. Experience working seamlessly with a successful fundraising/development/advancement department and experience with restricted grants as well as with investment-related income; experience with an institution receiving federal grants is preferred.
Ideally, the CFO also will have:
- Experience working effectively with both a full Board and Board Committees with tact, diplomacy and rapidity on matters of policy-making and financial review.
- The ability to serve as an organizational champion for financial effectiveness and performance and foster an environment where all members of the staff understand the importance of strong financial performance and its impact on overall operational performance. Demonstrated success in positively affecting dynamics of an organization as a result of leadership, strategic thinking, analytical and negotiating skills.
- Facility leading meetings and achieving consensus, making and supporting recommendations, and guiding or making decisions.
- Prior experience overseeing a high-performing Human Resources function is desirable.
- Flexibility to work in a changing nonprofit environment, with an appetite for and sensitivity to working with and in diverse cultures.
For confidential consideration, please contact: Machlowitz Consultants, Inc., Search Firm. Email is strongly preferred: firstname.lastname@example.org
The New York Hall of Science offers a competitive salary and benefits package and is an equal opportunity employer.