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Job #990: Chief Financial Officer - Cherry Hill, NJ (1-8-19)

  • Job Title: Chief Financial Officer
  • Location: New Jersey
  • Salary: Commensurate with Experience

About Bancroft:

Bancroft was founded in 1883, and is a leading human services provider, offering support for adults and children with intellectual and developmental disabilities, and traumatic brain injury.  Bancroft operates over 200 locations in New Jersey, Pennsylvania and Delaware.  We operate special education schools serving children from age 5 through 21; group homes; day services; and provide rehabilitation therapies.

 

Organizational & Position Scope:

Operating Budget - $164M

Employee Size - 2,500 employees

Individuals Served - 680 Residential; 470 Day-only; 375 School

Functional Responsibilities - Revenue Cycle; Budgeting and Financial Management; General Accounting; Accounts Payable; Payroll; Facilities & Real Estate

 

Position Summary:

Provides strategic leadership to finance function, systems and processes, to achieve best in class financial and operational excellence in support of Bancroft’s Mission and Values.  Acts as the subject matter expert for all fiscal matters, providing advisory services and reporting to the President and others as appropriate.  Attends Board of Trustees meetings, and actively participates in the Board’s Finance Committee and Investment Committee meetings.  Also oversees and provides strategic direction for the Facilities department.

 

Essential Responsibilities:

  1. Advises the President & CEO, the Board of Trustees, and senior management on the financial implications of business activities. Plays a key role in the Bancroft’s strategic planning process and helps initiate, advise and critique financial arrangements Bancroft might consider such as capital projects, investments, mergers and acquisitions and strategic alliances. Makes recommendations to strategically enhance financial performance; prepares special analyses/evaluations in support of major business decisions; collaboratively develops operating policies and procedures and improvement programs for the attainment of corporate objectives.
  2. Collaborates with the management team to establish and implement short and long-range organizational goals, objectives, strategic plans, policies, and operational procedures; monitors and evaluates programmatic and operational effectiveness and effects changes required for improvement. Establishes credibility throughout the organization and with the Board as an effective developer of solutions to financial, business and operational challenges.
  3. Develops and implements the organization’s financial and funding strategy. Establishes integral banking relationships and builds a compelling value in order to attract lenders and other financial institutions. Directs and recommends financing activities. Manages financial relationships with investors and lenders, and takes responsibility for securing debt financing where appropriate. Directs the organization's compliance reporting practices for bank and funding sources. Negotiates best available credit and use of capital.
  4. Accountable for all cash management, treasury and debt financing.  Controls all investments and cash flow to enhance operations. Maintains Organization’s investment policy and manages cash and investments according to the approved policy. If available, decides the criteria and options for investing excess funds. Manages cash flow and reporting to ensure cash requirements are covered at all times.  Recommends, assesses and implements efficiency or cost-saving and revenue enhancement options.
  5. Develops, implements and continually improves reporting for various organization functions to identify trends and opportunities for improved performance.  Analyzes organization financial and operational data to highlight positive and negative trends to upper management in the areas involving financial matters and their impact on operating practices.
  6. Accountable for the preparation of the annual operating and capital budgets, budget tracking reports, monthly, quarterly and annual forecast updates and other financial and business projections.  Creates financial scenarios. Directs, plans, organizes, coordinates and evaluates financial programs including expenditures of funding and conservation of assets, ensuring compliance with regulatory agencies while managing appropriate internal control safeguards.
  7. Approves unbudgeted capital projects within the limits of his delegated authority under the organization’s Authorizations and Procedures Related to Contract Obligations Policy.  Responsible for arranging financing for those capital projects that require external funding.
  8. Actively participates with external advocacy  and other professional organizations to support Bancroft’s short-term and long-term goals and objectives.  Effectively collaborates and builds positive working relationships with all funder organizations and representatives, including but not limited to The Department of Human Services (DHS), The Division of Developmental Disabilities (DDD), The Department of Children and Families (DCF), the Department of Education (DOE), commercial payors, and other licensing or state agency or municipalities.
  9. Responsible for ensuring compliance with state and federal laws and regulations in fiscal related matters.  Abides by the Bancroft Code of Ethics, Mission Statement, and Vision Statement in promoting ethical behavior, establishing relationships and providing guidance in decision-making situations.

 

Position Requirements:

Education & Experience:

Bachelor of Science degree in Accounting or Finance required. MBA or CPA strongly preferred.  Minimum of 15-20 years related finance experience, with at least 7 years in a senior executive role; prior strategic operational experience strongly preferred.  

Experience in a non-profit environment required; human services and/or healthcare experience is preferred.  Technically adept in all areas of accounting and financial management including cash flow management, financial analysis, earnings projections, budgeting, reporting and risk assessments.  Ability to analyze financial data and prepare financial reports, statements and projections.  Experience with cash management, treasury and debt financing. Experience with capital improvement budgets and financial management of capital projects, including land and property acquisition and development, site expansion, construction financial management, etc.  

Strong business and operational acumen achieved through prior experience and success is essential.

Special Skills:

Able to synthesize financial and operational data and processes to understand relationships and partner on improvements.   Must be a strong collaborator that can effectively build consensus across multiple organizational levels to achieve optimal results and buy-in.  Strong executive presence, communication, customer service, team building and conflict resolution skills are essential.  Must be a decisive leader with a high degree of integrity, accountability and performance orientation.  Able to effectively prioritize and manage multiple changing responsibilities.  Excellent technical, communication and systems skills, and a process-based orientation to continuous improvement is essential.  Valid driver’s license required in incumbent’s legal name and current address with no provisional restrictions.

 

Total Compensation Package:  

Base Compensation

Competitive base compensation, set based on experience and other related factors.

Incentive Compensation

Annual discretionary bonus based on achievement of a combination of organization-wide and individual goals, as they are defined from year to year.

Benefits

Eligible for Medical, Prescription and Dental coverages, Life and Accidental and Dismemberment, and Long-Term Disability insurances, all on 1st of the month following 60 days of employment.   Time Off: 24 days of Paid Time Off (PTO) annually. 9 Paid Holidays. Immediate Eligibility to make Employee Elective Deferrals to the 403(b) Plan.  Employer Matching Contributions (50% of first 4% of Employee Elective Deferrals) the first of the quarter following one year of service.  There is a 2-year vesting period for the Employer Match.

The preceding is a general summary of Bancroft’s benefit program.  Refer to the Benefit Enrollment Guide, and associated Plan Documents for more detailed information.

 

Interested candidates should send resume to Jonathan Lutz at: jonathan.lutz@bancroft.org. Please mention that you are a member of EisnerAmper's Friends of the Firm program.  Make sure to include Job #990 in the subject line and to copy Nkrumah Pierre and Isabella Brilliant at friendsoffirm@eisneramper.com on your email.