Chief Financial Officer

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Who We Are

The DowntownDC BID is a private nonprofit organization that provides capital improvements, resources, and research that keep the DowntownDC BID area clean, safe, and economically and environmentally strong and accessible. The DowntownDC BID is a catalyst, facilitator, and thought leader in diversifying the economy, promoting public/private partnerships, and enhancing the downtown D.C. experience for all. This special area, where property owners have agreed to tax themselves to fund services, encompasses a 138-block area of approximately 520 properties from Massachusetts Avenue on the north to Constitution Avenue on the south, and from Louisiana Avenue on the east to 16th Street on the west.

Position Summary

The DowntownDC BID is looking for a Chief Financial Officer (CFO). The purpose of this position is to effectively manage all financial assets and activities of the BID. Reporting directly to the Chief Executive Officer (CEO), the CFO role leads the finance department and provides oversight in the preparation of financial information. The CFO also provides insight and interpretation of the financial data to better plan for the BID’s future and continued success. This position is responsible for all financial functions, internal reporting, contract and grant management, treasury and tax matters, financial planning, budgeting, and analysis for the BID and affiliate companies.

The CFO serves as an active member of the Executive Management Team, helping to develop and implement the BID vision and mission.

This position has a broad scope, primary financial responsibility, and decision-making authority.

The CFO exercises a high degree of independence and initiative in handling fiscal matters, establishing procedures, and ensuring compliance with all applicable local and federal regulations.

Responsibilities:

Financial Management and Control

  • Develops, maintains, and implements administrative policies and procedures in the areas of accounting, cash management, procurement and supply, fixed assets, records retention, and inventory control. Develops and maintains reporting systems and implements internal controls that provide guidance to staff members on such issues.
  • Oversees general accounting that includes accounts payable, accounts receivable, cash management, cash flow analysis, billing and general ledger functions.
  • Maintains check signing authority and wire approval authority.
  • Completes monthly review of financial information, completes monthly cash flow analysis, and oversees the preparation of timely financial reporting meeting internal and external needs.

Budget Management

  • Facilitates and coordinates the BID budgeting process with appropriate Departmental Directors.
  • Works with Directors to develop final budgets and program spending plans to be presented to the Executive Committee, the Board of Directors, and the membership.
  • Monitors actual expenditures to budgeted expenditures and manages the budget reporting process.
  • Establishes and updates annual target revenue and expense expectations for the BID. Continually analyzes variances in projected revenue and expense line-item accounts to determine the appropriateness of modifying budgets.
  • Communicates with Directors and handles questions and problems related to all budget and cost needs.
  • Implements financial/budget reporting systems, including financial forecasting; prepares regular and special accounting and financial reports for department needs.
  • Recommends procedural changes; reviews data periodically to analyze trends affecting budget/accounting needs.
  • Recommends forecast changes when the financial conditions differ significantly from assumptions.

Procurement, Payables and Contract Management

  • Approves and administers grants, contracts, and leases in accordance with stated terms and conditions. Ensures contracts, leases, letters of intent and memoranda of understanding are in compliance with applicable statutes; follow competitive bidding process; are conscionable; are
    enforceable and are free of contractual liabilities.
  • Reviews monthly expenditures in conjunction with monthly financial review as related to the purchase of supplies, services, and material related to general programmatic support.
  • Ensures, through review of documentation, that the competitive bid process is in place and properly used. Assists in negotiating contracts as needed.
  • Reviews contracts to be signed with vendors to assess the impact on the finances of the DowntownDC BID.

Revenue Recognition-Tax Billings

  • Supervises staff person who completes the tax billing/revenue recognition process. Provides assistance as needed in working with the city and property owners regarding tax billing issues.
  • Reviews past due and interest penalties for reasonableness monthly and assists with collections efforts as needed.
  • Responsible for reconciliation of the tax database to the General Ledger regularly.

Other

  • Makes financial presentations.
  • Ensures all aspects of the BID are properly insured.
  • Composes correspondence prepares reports and handles complex requests and projects.
  • Responsible for coordination of the annual financial statement audit with external auditors.
Requirements

Knowledge of:

  • General accounting and financial reporting procedures in accordance with the District of Columbia.
  • District of Columbia contract/grant budgeting/reporting procedures and requirements.
  • Coordination of the annual financial statement audit with external auditors.
  • Payroll reporting and processing of payroll taxes.
  • Technology, with experience selecting and overseeing software installations and managing relationships with software vendors; advanced knowledge of accounting and reporting software.
  • General office software, particularly Microsoft Office Suite, and accounting software packages.

Ability to:

  • Manage and oversee all aspects of the financial/accounting management function.
  • Create, analyze, and report on financial statements and budgets.
  • Supervise staff, develop job descriptions, and provide performance evaluations and improvement plans.
  • Analyze and solve problems effectively and efficiently.
  • Communicate effectively both verbally and in writing.
  • Work well with, and be responsive to the needs of, internal and external customers, including the Board of Directors, funding sources, and other provider organizations.
  • Assimilate new information and technology.
  • Translate complex financial concepts to individuals at all levels, including finance and non-finance managers.
  • Have an outstanding level of discretion and professional maturity.
  • Handle multiple priorities, meet deadlines, and maintain high productivity, accuracy, and attention to detail.

Education and Experience

  • Bachelor’s degree in finance, business administration, management, accounting, or related field required; master’s degree and/or CPA preferred.
  • Minimum of seven years of financial management experience required, at least five at the management level, preferably in nonprofit or development environment.
  • Thorough knowledge and understanding of principles and practices of accounting and budgeting, and financial oversight are required.
  • Advanced computer skills, including proficiency with accounting and spreadsheet software packages, are required.
How to apply

To apply, please email a copy of your resume to careers@p3hired.com with the subject line “Chief Financial Officer.”

BID Employment Conditions

DowntownDC BID employees must have received or be willing to receive the COVID-19 vaccination by the date of the hire to be considered. Proof of vaccination is required. Employment offers are conditional upon successful references, criminal background check, and screening for illegal substances.

Affirmative Action/Equal Employment Opportunity

As an Affirmative Action / Equal Opportunity Employer, DowntownDC is committed to excellence through diversity; DowntownDC BID recruits, employs, trains, compensates and promotes regardless of race, religion, color, national origin, sex, disability, age, veteran status, and other protected statuses as required by applicable law. Please note all new DowntownDC BID employees must have permission to work in the U.S.; therefore, employment eligibility verification is required.