Chief Financial Officer
Position Description
The Chief Financial Officer (CFO) oversees the business operations of Planned Parenthood of Michigan 501(c)3 and Planned Parenthood Advocates of Michigan 501(c)4. They lead the planning and reporting of the organization's financial activities, manage the accounting and financial programs, and oversee Treasury, Accounting, Budgeting, and Financial Analysis functions.
Essential Functions
Led team members using a performance support process that includes goal setting, routine feedback, and ongoing development.
Empowers staff to deliver assigned responsibilities and manage their functions.
Provides regular development feedback to team and accountability related to practices including, but not limited to, equity.
Continuously maintains professional growth and learning by attending conferences, seminars, etc.
Works collaboratively on the strategic plan.
Provides strategic and financial leadership and clear communications to the Executive Team in the areas of treasury, budgeting, audit, tax, accounting, short-term and long-term forecasting, and strategic financial modeling.
Works closely with the Chief Experience Officer to plan for salary and wage adjustments, and with union negotiation support.
Prepares reports and presentations for the Executive Leadership Team regarding the organization’s business activity and financial position for all organizations including ancillaries.
Ensures that financial and accounting systems are operating using all FAS accounting standards and financial systems and controls are adequate to protect the assets and reputation of the organization.
Leads development of annual operating budget that meets the agencies’ strategic goals. Monitors budgetary compliance throughout the fiscal year. Develops updated forecasts as needed.
Prepares monthly financial statements and budget reports for management, assisting team members in understanding and using their budgets.
Prepares quarterly and annual financial statements and progress reports for the boards of directors.
Ensures that PPMI and PPAM are financially solvent.
Serves as primary contact for insurance companies and ensures adequate levels of insurance are maintained.
Serves as primary contact for internal and external auditors, ensuring they are completed in a timely manner.
Supports the development of grant proposals and the reporting required for active grants, including maintaining knowledge of the specific requirements of the Title X grant.
Manages cash reserves to balance strong returns with cash flow needs.
Works in collaboration with the Investment Committee and to ensure appropriate return on investment (ROI) levels, policies and compliance.
Develops annual and long-term financial goals and objectives for each department.
Ensures that leaders have timely data and reports from the Electronic Health Record (EHR) system, there is ongoing analysis of variances, trends, and business performance and reports to outside organizations (funders, PPFA, etc.) are filed on a timely basis.
Develops policies, procedures and protocols in support of business strategies and goals.
Maintains effective channels of communications with all areas of the organization in order to ensure effective and efficient service to the organization.
Regularly monitors and evaluates space planning, staffing, equipment and supply needs to ensure adequate levels vs. budget and revenue.
Ensures collaboration with agencies and vendors for effective management of services.
Ensures that all operations are managed with integrity and high ethical standards.
Qualifications and Experience
Bachelor's degree in accounting, finance, or related field.
Eight to ten years of financial management experience (with some of that time in a health care organization) in roles that demonstrate progressive leadership.
Minimum of five years supervisory experience.
Ability to work independently with minimal or no supervision.
Ability to effectively establish respectful and productive relationships with people at all levels of the organization from board members to front-line staff.
Non-profit Financial management experience.
Knowledge of Generally Accepted Accounting Principles.
Ability to explain financial issues to a wide audience.
Ability to effectively present and explain financial information and respond to questions from groups of managers, clients, customers, and the general public.
Demonstrated ability to achieve objectives in collaboration with other functional areas.
Demonstrated commitment to Planned Parenthood’s mission, vision and values.