Chief Financial Officer

Position Reports to: Chief Executive Officer

Location: Fully remote, with a preference for candidates within commuting distance to NFF’s New York, Philadelphia, or Boston offices. We will also consider applications from individuals who reside near NFF’s offices in Los Angeles and Oakland. NFF offices have re-opened, and staff can opt into in-person work as desired and based on the needs of the role. There is potential for up to 15% travel, which will consist of office visits, local/national conferences, and funder meetings.

Department: Executive

For over 40 years, Nonprofit Finance Fund has provided these nonprofits and their leaders with capital, consulting, and thought leadership. As a community development finance institution (CDFI), we work with nonprofits, partners, and systems to build racial equity and community wealth and well-being. Our vision is a world of equitable prosperity, where communities of color and other systematically excluded communities have the capital, community assets, knowledge, and agency to thrive. You can learn more about our work to achieve that vision by reading our Strategic Plan for 2024-2026, our commitment to racial equity, and our Theory of Change.

None of this work would be possible without the incredible people who work here. Our team consists of a diverse group of passionate professionals who care deeply about racial equity and community wealth and well-being. You can read more about what it’s like to work here – and read a few examples of “a day in the life” for NFF staff” – on the careers page of our website.

Thank you for your interest in NFF. We hope you’ll join us.

Position Overview

We are seeking a Chief Financial Officer (CFO) who will oversee NFF’s financial strategy, accounting and tax functions, financial planning and analysis, treasury, and capital raising.

As a member of NFF’s 5-person executive team, the CFO co-creates a shared vision for NFF’s mission delivery and operational health. The CFO advises the executive team on the financial implications of business decisions and recommends financial strategies to ensure fiscal prudence, sufficient resources for seamless operations, and risk management.

The CFO oversees a $25 million annual operating budget, a diverse set of revenue streams (including restricted grants, Federal grants, interest income, and fee-for-service), a growing loan portfolio of over $200 million, and a New Markets Tax Credit program.

NFF is operating under an ambitious 2024-2026 strategic plan that envisions significant portfolio growth while exploring emerging opportunities in environmental justice, community-owned assets, and geographic expansion. One year into this plan, NFF is well positioned to realize its ambitions with significant unrestricted grant funding, a new $35 million allocation of New Markets Tax Credits, and a diversified and growing capital stack. NFF’s next CFO will set a long-term vision for allocating resources in ways that support our goals and meet our mission to boost the collective success and power of nonprofits to advance racial equity and community wealth and well-being.

The CFO will report to the CEO, who is based in New York. The CFO has three direct reports (Controller / Vice President of Finance & Accounting, Senior Director of Treasury, and Manager of Financial Planning & Analysis) and oversees a total finance staff of nine.

What You’ll Do

Financial Strategy & Leadership

• Serve on the executive team, creating a shared vision for NFF’s mission delivery and operational health. Advise the executive team on financial implications and risks of business decisions.
• Serve as the main connection between the executive team and the Board of Directors’ Audit Committee and Finance & Operations Committee (shared reporting with NFF’s Chief Operating Officer).
• Set a financial vision, financial strategies & operations, and financial policies that support NFF’s long-term financial health and risk management.
• Hire, develop, and oversee finance staff, maintaining a culture of high performance and ethical behavior.
• Represent NFF externally by (1) sharing how NFF builds equitable prosperity through capital, consulting, and advocacy; (2) partnering with funders, investors, and peers to advance NFF’s goals; and (3) contributing to overall field-building by sharing NFF’s work and learnings.

Financial Planning & Analysis

• Communicate NFF’s financial position and performance to all stakeholders (Board of Directors, leadership, staff, external parties), offering analysis and insights to inform understanding and decision-making.
• Support development of organizational strategy through financial analysis of new and existing business models.
• Oversee multi-year financial planning, the annual budgeting process, budget performance, forecasting, and scenario-planning.

Treasury & Investor Relations

• Oversee capitalization strategy and management of an increasingly diverse capital stack which supports a balanced approach to meeting client needs, mitigating risk, and maximizing NFF’s earning potential.
• Maintain strategies and policies regarding cash management, liquidity, and capitalization—promoting a high standard of care for funds and prudent risk management.
• Raise lending capital to meet NFF’s portfolio growth goals.
• Maintain relationships with banking and investor partners.
• Provide executive leadership on NFF’s asset-liability committee (ALCO), giving insight into how NFF manages risks related to liquidity, asset-liability matching, portfolio losses, and interest rate margin.
• Establish investment policies and work with investment advisors as needed.

Accounting, Audit & Tax

• Oversee all accounting and financial reporting processes, ensuring strong internal controls across the enterprise.
• Oversee annual audit and tax for NFF and related entities (including programmatic LLCs and New Market Tax Credit entities).

Team Leadership & Management

• Set vision and strategy for the Finance Team.
• Develop and support a diverse team of finance professionals.
• Assess financial processes and tools and ensure the team is resourced in order to support an organization of complex business processes.

Who You Are

• You have a minimum of fifteen years of professional work experience with progressive financial leadership, preferably in the CDFI or financial services industries or in a large, complex nonprofit
• You have one or more of MBA, Masters in Accounting, CPA, or CMA
• You have deep expertise in financial strategy, planning, analytics, treasury, GAAP accounting, controls, compliance, and capital raising
• You have experience leading strategy, setting objectives, taking calculated risks, and meeting organizational goals
• You have managed a diverse set of revenue sources, including restricted grants, Federal funding, and fee-for-service
• You have experience coaching and developing leaders
• You are a systems thinker and have experience improving upon financial systems to drive efficient processes
• You have exceptional communication skills and can explain financial data and concepts to all stakeholders in an accessible manner
• You have a strong relationship-building approach with the ability to center the needs of both internal and external stakeholders
• You are a thought and industry leader and can represent NFF’s work and vision externally
• You maintain a high level of integrity and are able to handle sensitive information in a confidential manner
• You embody NFF’s mission, core values and commitment to equity