Finance Chair Job Description

The Finance Chair is a vital leadership role responsible for overseeing the financial health and stability of an organization. This position demands a deep understanding of financial principles, strong analytical abilities, and excellent communication skills. The Finance Chair works closely with other board members, staff, and external stakeholders to develop and implement sound financial strategies, ensuring the organization’s long-term sustainability. Key Responsibilities: *Financial Oversight & Planning: Develop and maintain the organization’s annual budget, monitor financial performance against budget, and provide regular financial reports to the board. This includes analyzing revenue and expense trends, identifying potential financial risks, and recommending corrective actions. Long-term financial planning and forecasting are crucial to ensure future sustainability. *Financial Reporting & Compliance: Ensure accurate and timely financial reporting, including preparing financial statements in accordance with generally accepted accounting principles (GAAP). Oversee the annual audit process, working closely with external auditors to ensure compliance with all applicable laws and regulations. *Investment Management: Manage the organization’s investment portfolio, developing and implementing investment strategies that align with the organization’s risk tolerance and financial goals. Regularly review investment performance and make recommendations for adjustments as needed. *Fundraising & Resource Development: Collaborate with fundraising staff and committees to develop and implement fundraising strategies. This involves identifying potential funding sources, developing grant proposals, and cultivating relationships with donors. The Finance Chair also plays a key role in managing donor relations and ensuring proper stewardship of donated funds. *Risk Management: Identify and assess financial risks facing the organization and develop strategies to mitigate those risks. This includes developing and implementing internal controls to protect assets, prevent fraud, and ensure financial integrity. *Board Leadership & Collaboration: Serve as a key member of the board of directors, providing financial expertise and guidance on all matters related to finance. Participate in board meetings, committee meetings, and strategic planning sessions. Collaborate with other board members and staff to achieve the organization’s goals. *Committee Leadership: Chair the finance committee, providing leadership and direction to committee members. This includes developing meeting agendas, facilitating discussions, and ensuring that the committee’s work is aligned with the organization’s strategic plan. Qualifications: * Bachelor’s degree in finance, accounting, or a related field. MBA or other advanced degree preferred. * Significant experience in financial management, preferably in a non-profit or similar organization. * Strong understanding of financial accounting principles (GAAP) and non-profit accounting practices. * Experience in budget development, financial analysis, and financial reporting. * Experience managing investments and fundraising activities. * Excellent communication, interpersonal, and leadership skills. * Ability to work effectively with board members, staff, and external stakeholders. * Strong ethical standards and a commitment to financial transparency. Desired Attributes: * Strategic thinker with a proven track record of financial planning and management. * Proactive problem-solver with the ability to identify and address financial challenges. * Collaborative leader with the ability to build consensus and motivate others. * Passionate about the organization’s mission and values. The Finance Chair position offers a rewarding opportunity to make a significant contribution to the financial health and sustainability of a worthwhile organization. It requires a dedicated individual with strong financial skills and a commitment to ethical leadership.

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