Vice President of Finance

The Maritime Aquarium at Norwalk seeks a Vice President of Finance to oversee financial strategy, management, operations and controls at a uniquely important time, with significant growth and diversification, and a new 10-year strategic plan and an upcoming multi-million campaign.

ORGANIZATION BACKGROUND

The mission of The Maritime Aquarium is to ignite a connection to Long Island Sound and the ocean to enrich the lives of all people and inspire action to protect our blue planet. For more than 35 years, the Aquarium has played a significant role in shaping the landscape of Norwalk and the region. The second largest family attraction in Connecticut, and 50 miles from New York City, the Aquarium welcomes nearly 500,000 guests annually. Its primary exhibits take guests on a voyage from the shallow salt marshes and estuaries to the depths of the Long Island Sound and the ocean beyond, culminating with habitats for sharks and harbor seals. Altogether, the Aquarium is home to more than 7,000 animals and 320 species in 75 exhibits. A new 4D Theater offers a unique sensory film experience for guests. Its education programs introduce approximately 60,000 students, campers and scouts to marine and STEM education, and its conservation programs are leading collaborative efforts addressing critical priorities for the Long Island Sound ecosystem. The Aquarium is recognized as a top aquarium in the nation, and is accredited by the Association of Zoos and Aquariums. It is an active participant in the local and regional community. The strength of the Aquarium is its 75 full-time staff, and as many as 80 part-time and seasonal staff during the summer months, in addition to nearly 200 volunteers, which contribute 28,000 hours annually. Emerging from the pandemic, the Aquarium’s annual operating budget has grown from roughly $11 million to $18 million, with a significant diversification of revenues including earned revenues through admissions, membership, sales, and fee-based programs, as well as philanthropic institutional grants (state, federal and private) and individual gifts. A new ten-year strategic plan, An Aquarium Without Walls, sets the Aquarium on an ambitious and innovative path forward.

POSITION SUMMARY

The Vice President of Finance plays a central role in the overall success of the Aquarium, with the responsibility of managing business and financial strategies and practices to successfully fulfill the Aquarium’s ambitious mission, conduct the activities and programs hosted by the Aquarium, and achieve plans for future growth and expansion. The Vice President of Finance provides strong and well-maintained financial oversight, manages policies and control systems for the Aquarium, and coordinates financial matters with other departments of the organization.

The Vice President of Finance reports to the President and CEO, works closely with the Board of Trustees, and is part of the institution’s senior management team alongside the Chief Operating Officer, Chief Strategy & Growth Officer, Vice President of Education, and the Directors of Animal Husbandry, Exhibits, Guest Operations, Facilities, Conservation & Policy, Creative, and People & Culture. The Vice President of Finance supervises a staff of four, including a Senior Accountant, Accounting Manager, Accounts Receivable Specialist, and Payroll & Grants Manager.

PRIMARY RESPONSIBILITIES

General Management

• Provide clear, strong leadership in establishing and managing the overall financial strategy, policies and decisions on behalf of the Aquarium; to critically appraise the Aquarium’s financial position and systems on an ongoing basis; and, working with the CEO and Board, proactively make adjustments as necessary and appropriate;
• Manage financial risk by analyzing liabilities, identifying opportunities, and anticipating/ responding to threats encountered by the Aquarium;
• Provide timely and accurate monthly financial reports to the Senior Management Team and the Board of Trustees;
• Serve as a representative of the Aquarium, in particular through sound business relationships with bank/lending institutions, city and state officials, and other financial partners;
• Manage balance sheet risk by analyzing assets and liabilities, identifying opportunities and anticipating/responding to issues current and future;
• Analyze interim revenue performance and costs, identify issues and trends, work with directors to understand results and implications;
• Review and maintain financial commitments associated with all grant and contractual relationships with funders, vendors, partner institutions, and consultants;
• Working closely with the Chief Strategy and Growth Officer, provide timely reports to public and private grantors to comply with all restricted covenants and contractual obligations associated with grants;
• Supervise, motivate, inspire and mentor the finance team to excel in their responsibilities;
• Stay abreast of best practices for non-profit financial management, especially those related to aquariums, zoos and museums.

Budget Management

• Develop and manage the annual budget for the Aquarium, working closely with each director and their respective departments, and in particular, work closely with the Chief Strategy and Growth Officer to align budgets with strategic priorities;
• Partnering with directors, develop and maintain comprehensive financial modeling that enables the Aquarium to understand the effects of pricing, attendance, staffing, fundraising and operating cost changes;
• Prepare monthly report on endowment, track against investment benchmarks, ensure compliance with investment policy, and recommend appropriate investment strategies;
• Establish and maintain accountability metrics, including a management dashboard;
• Propose accountability metrics for results and methods for using them regularly as yardsticks.

Accounting, Audit and Compliance Oversight

• Establish, monitor and ensure compliance with internal policies and procedures relating to all financial controls and internal audits, and state and federal uniform guidance, consistent with generally accepted accounting practices;
• Oversee general ledger and perform monthly reconciliation of G/L accounts to G/L cash expenses; oversee preparation of monthly P&L statement, balance sheet and cash flow reports, including actuals and forecasts; prepare and distribute departmental budget reports; and prepare fixed asset analyses;
• Maintain and oversee chart of accounts;
• Continue ongoing efforts to automate and streamline processes such as invoicing, accounts payable, reimbursements, etc.
• Manage cash disbursements and decisions regarding accounts payable, revenue recognition, grants and other restricted funds, fund transfers, payroll and pension plan;
• Perform restricted grant reconciliation and analyses;
• Oversee annual audit in conjunction with independent accounting firm, CEO and the Board, including compliance with state and federal uniform requirements;
• Oversee preparation and filing of IRS Forms 5500 and 990, State tax filings, payroll tax reports; manage other compliance and government filings as required.

QUALIFICATIONS AND CHARACTERISTICS

• Minimum of ten years of relevant and progressive financial oversight and management experience, including 5 years of supervisory experience.
• Financial management experience in a non-profit organization, and thorough knowledge of nonprofit accounting principles and standards, in particular revenue recognition, management of restricted funds, audit, and Form 990 filing. CPA or graduate degree in public administration, business administration or a related field.
• Meticulous about details, with good problem-solving skills, sound judgment and excellent interpersonal skills.
• Commitment to the Aquarium’s mission, with an appreciation for the important role that the Aquarium plays in conservation, education and the life of a vibrant community.
• Strong leadership ability with proven management skills in leading and developing a staff and working within a highly motivated team.
• Excellent written and verbal communication skills.
• Strong spreadsheet skills and experience and versatility in accounting software, and experience with integration between CRM and GL or ERP systems (the Aquarium uses Sage 50 (formerly Peachtree) for GL and Tessitura for CRM, and experience with these systems preferred but not required).