Chief Financial Officer (CFO)Vice President
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Job Location:
Lynchburg, VA - USA
Monthly Salary:
Not Disclosed
Posted on:
23 hours ago
Vacancies:
1 Vacancy
Job Summary
Westminster Canterbury of Lynchburg Inc. a nonprofit Continuing Care Retirement Community (CCRC) seeks an experienced and mission-driven Chief Financial Officer (CFO) to provide executive leadership for the organizations financial operations and long-term fiscal sustainability.
The CFO serves as a key member of the senior leadership team and a strategic partner with the President/CEO Board of Trustees and Foundation Directors. This role is responsible for financial planning accounting investments and treasury management. The CFO ensures sound stewardship of resources while supporting Westminster Canterburys continuing care contracts and long-term obligations to residents.
Key Responsibilities
Strategic Financial Leadership
- Provide strategic financial guidance aligned with Westminster Canterburys mission values and long-range strategic plan.
- Develop and maintain multi-year financial forecasts cash flow projections and capital plans that reflect operational needs entrance fee activity refund liabilities and debt service requirements.
- Advise the CEO and Board of Trustees on financial performance trends risks and opportunities including the long-term financial implications of resident contracts and capital investments.
Financial Operations & Reporting
- Oversee all accounting budgeting payroll and financial reporting functions in accordance with GAAP and nonprofit accounting standards.
- Ensure accurate tracking accounting and reporting of entrance fees deferred revenue and refund obligations.
- Lead the annual operating and capital budgeting processes and monitor performance against approved budgets.
Entrance Fees Actuarial Analysis & Refund Obligations
- Oversee financial modeling and actuarial analyses related to continuing care contracts entrance fees refund liabilities and long-term care obligations.
- Coordinate with actuaries to ensure appropriate assumptions reserves and disclosures related to resident contracts.
- Monitor entrance fee cash flows and refund activity to ensure sufficient liquidity and compliance with regulatory and contractual requirements.
- Provide regular reporting to management and the Board regarding entrance fee trends refund exposure and long-term financial sustainability.
Investments Debt & Bond Financing
- Oversee cash management banking relationships and treasury operations.
- Serve as staff liaison to the Board Finance and Foundation Investment Committees.
- Coordinate with external investment advisors to oversee endowment reserve and long-term investment portfolios.
- Manage debt obligations including bond financing covenant compliance and relationships with bond trustees and lenders.
- Support bond issuances refinancing and capital market transactions including preparation of financial disclosures and investor materials.
Regulatory Compliance & Audit
- Ensure compliance with federal and state regulations applicable to nonprofit CCRCs including healthcare reimbursement continuing care contract requirements and financial disclosure regulations.
- Oversee the annual independent audit and serve as the primary liaison with external auditors.
- Support regulatory filings bond disclosures and financial reports required by governing bodies and oversight agencies (Continuing Care Accreditation Commission-CARF).
Risk Management & Insurance
- Evaluate financial operational and contractual risks related to resident agreements capital projects and long-term obligations.
Leadership & Collaboration
- Lead mentor and develop the Finance and Information Technology teams fostering a culture of accountability transparency and continuous improvement.
- Collaborate closely with leaders across healthcare facilities marketing development and operations to support organizational initiatives.
- Communicate clearly and effectively with residents staff Board of Trustees Foundation Board of Directors auditors actuaries lenders and external advisors.
Education & Experience
- Bachelors degree in Accounting Finance or a related field required.
- CPA MBA or similar advanced credential strongly preferred.
- Minimum of 810 years of progressive financial leadership experience.
- Demonstrated experience in a nonprofit CCRC senior living healthcare system or similarly regulated environment strongly preferred.
- Experience with entrance fee accounting actuarial coordination refund liability management and bond financing is highly desirable.
Skills & Attributes
- Strong expertise in nonprofit finance long-term financial planning investments and capital markets.
- Proven ability to work effectively with Boards of Trustees and Finance/Investment Committees.
- High ethical standards sound judgment and commitment to financial stewardship.
- Strategic collaborative leader with strong analytical and communication skills.
Compensation & Benefits
Westminster Canterbury of Lynchburg offers a competitive executive compensation and benefits package commensurate with experience and the opportunity to serve in a mission-focused resident-centered nonprofit community.
Required Experience:
Chief
Key Skills
- Change Management
- Financial Services
- Growing Experience
- Managed Care
- Management Experience
- Analysis Skills
- Senior Leadership
- Performance Management
- Process Management
- Leadership Experience
- negotiation
- Analytics
About Company
Located in the foothills of Virginia’s spectacular Blue Ridge mountains, Westminster Canterbury of Lynchburg offers an extraordinary lifestyle. Here you can pursue your interests, explore new opportunities and be part of a community that supports your well-being.
