Chief Financial Officer
Newark Community Economic Development Corporation - Newark, New Jersey
Newark Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NCEDC’s mission is to stimulate job growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of Newark’s many opportunities. Additional information on NCEDC can be found by visiting http://www.newarkcedc.org/.
Our Diversity & Inclusion Mission is to attract, retain, and engage a diverse workforce comprised of talented people. Like the city of Newark, NCEDC knows our strength comes from each of our connected parts, making the fabric of our organization better and stronger because of our unique employees’ talents. NCEDC employees can expect to work as part of a highly engaged, passionate and inclusive workforce where everyone’s contributions are valued, respected and make an impact on one of the best and most diverse cities in the world!
The Chief Financial Officer is a member of NCEDC’s senior management team and as such, is responsible for the co-participation of NCEDC’s strategic growth and initiatives through the oversight of the organization’s finances and budget. This includes the accounting, tax and compliance functions. S/he will work with senior staff to assure adherence to all required compliance, regulation and financial reporting required of NCEDC’s various businesses. The CFO will play a key role in ensuring NCEDC’s nimble response to emerging opportunities in our market. Day-to-day work will involve partnering closely with NCEDC staff and representing the corporation on the financial aspects of real estate and business development transactions, including financial structuring that appropriately secures NCEDC's interests. Prior experience working with financings that include conventional debt and equity, low-income housing tax credits, tax exempt bonds, Federal HOME and CDBG funds, and other state and local funding sources is critical to success in this role. This position reports to the President & CEO.
The role of Chief Financial Officer at NCEDC requires extensive knowledge of treasury, financing, accounting, investing, project finance, tax credits and multi‐affiliate non‐profit and for‐profit accounting practices. The position provides the opportunity to apply well developed financial skills necessary to drive a high impact, innovative business.
- Oversee cash flow planning and ensure availability of funds as needed.
- Oversee cash, investment, and asset management.
- Oversee financing strategies and activities, as well as banking relationships
- Develop and utilize forward‐looking, predictive models and activity‐based financial analyses to provide insight into the organization’s operations and business plans.
Planning, Policy, and External Relations
- Coordinate the development and monitoring of budgets.
- Develop financial business plans and forecasts. (how often/when)
- Participate in corporate policy development as a member of the senior management team.
- Engage senior management to develop short‐, medium‐, and long‐term financial plans and projections. Review these plans with the appropriate committees of the Board of Directors.
- Represent the company to financial partners, including financial institutions, investors, foundation executives, auditors, public officials, etc.
- Remain up to date on nonprofit audit best practices and state and federal law regarding nonprofit operations.
Accounting and Administration
- Oversee the accounting department to ensure proper maintenance of all accounting systems and function; supervise NCEDC’s finance staff.
- Ensure maintenance of appropriate internal controls and financial procedures.
- Ensure timeliness, accuracy, and usefulness of financial and management reporting for federal and state funders, foundations, and NCEDC’s board of directors; oversee the preparation and communication of monthly and annual financial statements.
- Primary liaison with outside auditors and finance committees; responsible for leading the audit planning, significant accounting policies and their adoption, and financial statement preparation and disclosure. Review tax returns prepared by outside accountants prior to company officer sign‐ Work with accountants on tax planning.
- Ensure legal and regulatory compliance regarding all financial functions.
The CFO will be an experienced leader with at least 5-7 years of broad finance experience, ideally beginning in audit and / or tax, followed by experience gathering and evaluating financial information and making actionable recommendations to senior leadership. S/he will ideally have experience managing finance (accounting, budgeting, control, and reporting) for a complex nonprofit with multiple funding sources including government (federal and state) contracts and an affiliate structure with diverse program areas
- A minimum of a BS and a CPA; MBA would be a plus.
- 5-7 years’ experience as CFO or equivalent, preferably in a complex organization that has multiple affiliates and a track record of escalating knowledge of investment mechanisms.
- Experience in a senior financial‐management role, partnering with executive staff, resulting in the development and implementation of creative financial management strategies.
- Significant experience in or knowledge of nonprofit accounting, including sophisticated fund and grant accounting, compliance, and reporting.
- Experience working with information technology staff of consultants to manage finance and accounting software packages.
- Excellent written and oral communication skills.
- Demonstrated leadership ability, team management, and interpersonal skills.
- Excellent analytical and abstract reasoning skills, plus excellent organization skills.
Please send your resume, cover letter, and a writing sample to email@example.com.
The Newark Economic Development Corporation is an Equal Opportunity Employer. NCEDC offers excellent benefits, including company-paid 401 (a) pension plan, 457(b) tax-advantaged retirement savings plans, medical, dental and vision benefits, and discounted gym memberships and movie tickets.
How to Apply:
Send cover letter and resume via email only to: firstname.lastname@example.org
Subject line: Chief Financial Officer
Direct email applicants only, no mail or phone calls please