Summary
Description
Chief Financial Officer
About Xiente
Xiente, formerly known as Norris Square Community Alliance, is a nonprofit organization based in Philadelphia, PA in operation for over 40 years. It was founded in 1982 by a group of community women who decided to take control of their neighborhood and provide a safe and healthy environment for their children. Our mission is to transform communities by empowering individuals to achieve social mobility.
Xiente addresses poverty through a holistic approach that includes personalized economic mobility plans for families. Bringing a comprehensive approach to tackling poverty and promoting economic mobility, Xiente offers programs that include early childhood education, youth development programs, financial literacy, workforce development, and housing services. Two of Xiente's key programs include:
- Busesito (The Little Bus), Philadelphia's first mobile bilingual preschool on wheels designed to bring early childhood education to children throughout different neighborhoods in the city who do not have access to preschool.
- Prosperity Lab, a comprehensive program that offers a range of economic and social services to help families overcome the barriers that prevent them from achieving financial stability and prosperity and guide them toward middle-class status.
With a diverse workforce of over 120 employees, Xiente's team reflects the organization's commitment to inclusivity and community representation. Recently, Xiente was certified as a Great Place To Work, highlighting the organization's positive and supportive work environment for employees.
Learn more about Xiente at https://www.xiente.org.
The Opportunity
Today, Xiente is poised to expand its leadership with a Chief Financial Officer (CFO) and Chief Operating Officer (COO) who will work in close partnership with each other and with Xiente's CEO.
The CFO is responsible for managing the financial operations of the organization, ensuring the organization's financial health and sustainability. This role will oversee all financial reporting, budgeting, forecasting, financial analysis, and compliance requirements. In addition to the CEO and COO, the CFO will partner closely with the Resource Development team and will help support the Board of Directors in developing and implementing financial strategies that support the organization's mission and goals.
As part of the Executive Team, the CFO will also help shape the strategic direction of the organization as Xiente continues to evolve by developing and executing strategy, leveraging best practices, managing organizational transformation and growth, and creating a high-performance, results-driven culture that develops leaders across the organization.
The CFO will manage a 7-person team that includes the following direct reports – a Controller and Budget Manager – along with other key functional roles: Accounts Payable, Purchasing, Receivable Manager, and Finance Clerk.
In addition, the CFO will work closely with the Board of Director's audit/finance committee and will be responsible for preparing, interpreting, and effectively communicating financial information and analysis to the senior leadership team and select Board members to facilitate sound financial decisions.
Responsibilities will include, but are not limited to:
- Oversee all financial operations and activities of the organization.
- Develop and implement financial strategies, plans, and policies to ensure the organization's financial health and growth.
- Create financial models to evaluate potential new development or investments opportunities. Models include project and portfolio level performance and structured finance.
- Negotiate development financing with the appropriate documentation.
- Oversees cash & investments to appropriately balance risk, return and liquidity.
- Monitor and analyze financial performance, including profit and loss statements, balance sheets, and cash flow statements.
- Manage the organization's financial forecasting and budgeting process while ensuring compliance with federal and state laws and financial regulations.
- Conduct regular audits to ensure the accuracy and integrity of financial records.
- Collaborate with other departments to develop and implement strategies for revenue and resource management.
- Ensure timely and accurate payroll processing and compliance with payroll regulations.
- Stay updated on changes in accounting standards, regulations, and best practices, including nonprofit GAAP.
- Prepare and present financial reports to the executive team and Board of Directors.
- Provide strategic recommendations and counsel to the CEO, leadership team and Board of Directors on financial matters.
- Oversee the organization's risk and compliance management framework.
- Establishing, maintain, and deepen collaborative partnerships internally and externally.
- Continually review and refine all financial systems and procedures.
- Coordinate with external accounting firms and consultants regarding annual audits and regulatory reporting.
Candidate Profile
While no one candidate will possess every quality outlined for this position, strong candidates will bring many of the following professional qualifications and personal attributes:
Financial Acumen
The CFO will have deep experience leading finance in a complex environment. They will also have the technical abilities and confidence to ensure that Xiente's financial oversight is of the highest caliber. A strategic finance leader with the tactical ability to "deep dive" into the details with strong quantitative and analytical skills, this leader will be able to transition seamlessly between the "big picture" and minutia. They will bring a high level of intellectual horsepower with a collaborative, inventive, and service-oriented mindset. Moreover, the CFO must have proven experience in budgeting, strategic forecasting, and planning, and in overseeing the financial, accounting, compliance, and risk management of a complex organization.
Systems Builder and Results-Driven Management
The CFO will bring deep experience in effectively leading change management efforts, with a thoughtful, intentional approach to stewarding new initiatives. As a result, they will be skilled at quickly establishing rapport, cultivating relationships, building confidence, and strengthening trust across all levels of the organization. A strong believer in leading by example, the CFO will also have an entrepreneurial spirit, a track record of fostering successful innovation, a willingness to roll up their sleeves, and a comfort with taking calculated risks. They will also exhibit strong management skills, including the ability to foster collaboration among team members, empower managers, and build systems of accountability. Most importantly, the CFO will also bring the skills necessary to build bridges across departments.
Tactical and Strategic Leadership
Key to success in this role, the CFO will have a proven track record of converting strategy into effective execution. This individual will bring a deep appreciation for complex business challenges, and excitement to be part of a team focused on identifying strategic and innovative solutions. To this end, the CFO will be a catalyst for change and growth, inspiring others to think entrepreneurially and inject new ideas. Moreover, the CFO will be an intelligent self-starter and finisher who is resourceful and innovative, while maintaining a collaborative, team-oriented approach. As a financial leader who plans for the future, they will also bring a tactical approach to their work, strong data and analysis orientation, and a proven ability to use metrics to drive decisions.
Passion for the Mission
Along with other members of the leadership team, the CFO will help inspire and motivate others to push the organization's vision forward. An empathic, confident leader, the CFO will treat others with respect and will understand that at times, empathy is an essential quality. The ideal candidate will understand the social services landscape and will also have an eye consistently focused on the future, including how to best adapt Xiente to its changing environment. Most importantly, the CFO will be an individual of unquestioned integrity, ethics and values; someone who can be trusted without reservation.
In addition, strong candidates will bring the following technical experience:
- Strong knowledge of nonprofit and governmental accounting principles, practices, and regulatory reporting requirements.
- Proficiency in technical accounting standards and financial management principles.
- Experience in revenue cycle management and payroll management.
- Excellent analytical skills with the ability to interpret complex financial data.
- Ability to effectively communicate complex financial information to non-financial stakeholders
- Familiarity with MIP and/or other accounting software.
Compensation & Benefits
Salary is competitive and commensurate with experience. The salary range for this role is $135,000 – $155,000 with a generous benefits package.
Xiente offers an excellent benefits package that includes medical (including 90% of the health insurance premium for the employee), dental, and vision, as well as other great benefits such as four weeks' vacation and 17 paid holidays.
Contact
Koya Partners has been exclusively retained for this engagement, which is being led by Chartise Clark. Express interest in this role by filling out our Talent Profile. All inquiries and discussions are strictly confidential.
Koya Partners is committed to providing reasonable accommodation to individuals living with disabilities. If you are a qualified individual living with a disability and need assistance expressing interest online, please email NonprofitSearchOps@divsearch.com. If you are selected for an interview, you will receive additional information regarding how to request an accommodation for the interview process.
Xiente is an equal opportunity employer and strongly encourages applications from people of color, persons with disabilities, women, and LGBTQ+ applicants.
About Koya Partners
Koya Partners, a Diversified Search Group company, is the nation's premier search firm dedicated to mission-driven leadership. Since its founding in 2004, Koya has had an exclusive focus on mission-driven clients and was founded on the belief that the right leader can transform an organization and have a deep and measurable impact on our world. Koya works with nonprofits & NGOs, responsible businesses, and social enterprises in local communities and around the world.
Diversified Search Group is consistently recognized by Forbes on its top 10 list of "America's Best Executive Recruiting Firms" and is an industry leader in recruiting transformational leaders for a changing world. The firm is deliberately different in its approach, with best-in-class teams who have decades of experience in cultivating inclusive leaders, understanding the dimensions of diversity, and building equitable teams.
Learn more about Koya Partners l Diversified Search Group via the firm's website.
To apply, visit: https://talent-profile.dsgco.com/search/v2/21291
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