Director of Finance
Director of Finance
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5years
$ 100000 - 120000
1 Vacancy
Job Description
Organization Overview
For over 50 years the Greater Washington Community Foundation has ignited the power of philanthropy to respond to critical community needs and build a thriving region where every person prospers. The Community Foundation is a trusted advisor and navigator helping thousands of individuals families businesses and government partners to identify impactful nonprofits and support the greater good in the communities we call home. As the region s largest local funder we have invested $1.7 billion to build equitable just and thriving communities across DC Montgomery County Northern Virginia and Prince George s County. To learn more visit .
Position Summary
Reporting directly to the Chief Financial Officer the Director of Finance plays a critical leadership role within the Foundation s Finance Department. This position provides strategic and operational support to the CFO while collaborating closely with the Controller. Acting as a bridge between senior management and operational teams the Director translates highlevel strategies and goals into actionable plans that drive business performance.
The Director is responsible for overseeing daytoday accounting operations ensuring that financial transactions are accurately recorded timely and compliant with Generally Accepted Accounting Principles (GAAP). In addition the Director maintains and reviews internal controls to enhance operational efficiency and ensure compliance with policies and regulations. The Staff Accountant will directly report to the Finance Director.
Key areas of responsibility include financial reporting investment and cash operations payroll and accounts payable. The Director also ensures adherence to regulatory standards supports the Foundation s fiduciary duties and works to improve systems processes and team capabilities. Through these efforts the Director helps steward the Foundation s resources with integrity and transparency in alignment with its mission and values.
In addition to the duties described in this position description every role at The Community Foundation is expected to contribute to the overall success of the organization and its goals. This may mean that team members will be asked to take on other tasks that may not be listed here. Examples may include working on a project or specific task outside of your standard area of responsibility participation on an organizationwide task force or special initiative or being asked to support a colleague when needed. Any additional tasks will be determined by the manager of this role in coordination with the leadership team.
Primary Responsibilities
Financial Management and Reporting
- Collaborate with the Controller on the quarterly fund statement process monthly closing and the preparation and coordination of the annual audits including both the regular financial audit and the federal Single Audit ensuring timely and accurate completion.
- Support the Controller in the preparation and timely filing of all required annual tax returns including Form 990 and related schedules.
- Assist with the preparation review and presentation of quarterly financial reports and board financial packets.
- Support the CFO and Controller with materials and analysis for Audit and Finance Committee meetings.
- Assist the CFO in the development tracking and monitoring of the annual operating budget including forecasts and variance analysis.
- Prepare and/or review monthly and quarterly balance sheet and profit & loss reconciliations to ensure accuracy and compliance with GAAP and internal controls.
- Partner with the Controller and Finance team in the implementation of new accounting software and ensures the continued integrity and optimization of financial systems.
- Prepare or review specialized monthly and quarterly financial reporting schedules for specific funds or donoradvised funds as needed.
- Participate in meetings with donors fundholders and external stakeholders to provide financial insight and support.
- Lead or contribute to crossdepartmental financial projects and other assignments as directed by the CFO.
- Ensure compliance with GAAP UPMIFA IRS regulations and internal financial policies and procedures.
- Provide financial analysis and modeling to support strategic planning and decisionmaking.
Cash and Investment Management
- Support the CFO in monitoring the outsourced Chief Investment Officer (OCIO) to ensure investment accounts align with the Foundation s Investment Policy Statement (IPS).
- Coordinate with investment operations staff OCIO and advisors on account activity including reconciliations cash flow operations portfolio rebalancing administration monitoring and reporting.
- Manage the documentation and execution of investment related transactions such as account openings closings and modifications in collaboration with authorized officers and external partners.
- Complete and file IRS Form 8282 for dispositions of hardtovalue assets as required.
- Assist with preparation and distribution of Investment Committee meeting packets and provide ongoing operational and analytical support.
- Develop training resources and provide internal education on investment principles and financial reporting in coordination with the CFO.
- Monitor shortterm cash needs and liquidity to ensure alignment with the Foundation s operating and grantmaking priorities.
- Maintain bank tracking and ensure all bank account transactions are recorded accurately and in a timely manner to support cash flow management and reconcile cash positions on a regular basis.
Payroll Processing
- Ensure accurate and timely payroll processing in partnership with Human Resources and external payroll service providers.
- Verify correct wage calculations benefit deductions and proper taxation in accordance with federal state and local laws.
- Collaborate with HR to ensure accuracy and security of employee data in payroll systems.
- Respond to payrollrelated inquiries and provide timely resolution of issues.
- Prepare and distribute payroll reports for internal use and management review.
- Review and post payroll and benefits journal entries biweekly to ensure proper accounting treatment.
- Ensure all monthly/quarterly payroll and benefit reconciliations are completed.
- Assist with yearend payroll reporting including W2s and tax filings.
- Stay current on payroll best practices laws and technology to support continuous improvement.
AP Processing
- Oversee the endtoend AP function ensuring timely accurate and compliant processing of vendor invoices and employee reimbursements.
- Review and approve AP workflows to maintain proper internal controls and efficient processing.
- Ensure accurate general ledger coding and documentation for all disbursements.
- Coordinate with Finance team to support accurate monthend and yearend close processes.
- Maintain strong vendor relationships and ensure payments are issued in accordance with terms.
- Evaluate and recommend AP systems and technologies to increase automation and efficiency.
- Lead implementation and maintenance of tools that support invoice processing electronic payments and expense management.
- Ensure 1099 forms are filed for applicable vendors and contractors in compliance with IRS regulations.
Leadership and Team Collaboration
- Support the Controller and CFO in managing daytoday finance team operations ensuring efficient execution of financial tasks and adherence to internal controls.
- Provide guidance to junior finance staff assisting with technical accounting questions and offering mentorship to foster professional development.Education
CPA, Bachelors Degree
Employment Type
Full Time
Key Skills
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