Fractional Chief Financial Officer (CFO)

Make a Difference with Missionwell

Do you have a growth and improvement mindset? Are you business focused and hands on? Are you looking for a way to make a meaningful impact in the world but find yourself limited by job options that don't align with your desire to create positive change? At Missionwell, we understand that most people want to contribute to something greater than themselves. That's why we offer our team members the opportunity to make a significant difference by serving the nonprofit community.

Missionwell provides full-service HR, accounting, finance, and administrative support services strictly to nonprofits.?We work primarily with public charities, private schools, including religious schools, and churches/religious organizations. Join us at Missionwell and be part of a growing organization that is dedicated to making the world a better place, one nonprofit at a time.

Position Summary

We are a growing professional services firm providing accounting and financial services to nonprofit and religious sectors. We currently have $2.5 million in annual revenue, with plans for continued double-digit growth.

We are seeking an experienced Fractional CFO to serve as a strategic financial partner to the owners and leadership team. This individual will oversee forecasting, profitability, cash flow, and growth planning to help the firm scale profitably and sustainably. The CFO will determine the appropriate level of forecasting and financial reporting for the business, manage the forecasting process with clear commentary and recommendations, and provide strategic financial guidance to leadership.

This individual will also have responsibility for identifying financial process gaps, instilling forecasting discipline, and translating financial data into guidance. They will also be responsible for cross functional leadership of any financial or accounting projects identified.

The CFO will interpret financials and translate financial insight into strategic guidance for business decisions.

Supporting the CFO, an accountant will handle routine accounting functions. This accountant will be shared as assigned with other business partners. However, in this capacity, they will report through the CFO.

Key Responsibilities

Financial Leadership

• Serve as a strategic financial advisor to the owners and leadership team.
• Monitor overall financial performance and identify financial risks and opportunities.
• Provide financial analysis and recommendations for major business decisions.
• Ensure a sufficient level of insurance commensurate with business risks.
• Prepare (or oversee the preparation of) an annual 1065 tax return.
• Maintain accurate tracking of member capital accounts, model equity changes, and manage the financial allocation and execution of LLC distributions in accordance with the Operating Agreement.
• Drive annual insurance applications and renewals by gathering information, working with brokers and internal stakeholders, to maintain deadlines and policy records, including related implementation requirements

Budgeting & Forecasting

• Develop and manage the annual budget and rolling financial forecast.
• Update a three-year financial model to support the firm's growth plans.
• Analyze actual results against budget and forecast and explain significant variances.
• Model the financial impact of different growth and staffing scenarios.

Profitability & Pricing

• Evaluate firm profitability, pricing, and operating margins against expectations outlined in the budget and identify opportunities in process, performance and bridge gaps.
• Analyze profitability by service line, client, or other relevant categories.
• Advise on pricing, staffing, utilization, and labor costs.
• Surface opportunities to improve margins and operating efficiency.

Cash Flow

• Maintain a rolling cash-flow forecast.
• Monitor cash reserves, accounts receivable, and collections.
• Identify potential cash-flow issues and recommend solutions.
• Maintain projections of distributions to Managing Members.

Financial Reporting & KPIs

• Review monthly financial statements prepared by the accountant.
• Working with the accountant prepare and review a concise monthly financial dashboard for owners and leadership team.
• Monitor key financial metrics that have been agreed in the 3 year plan.
• Translate financial results into clear recommendations for management.
• Manage internal capital allocations by implementing a robust process for tagging specific expenses as investments to cleanly isolate operational costs from strategic growth expenditures

Accounting Oversight & Internal Controls

• Ensure appropriate financial procedures and internal controls.
• Work closely with the accountant and outside tax/accounting professionals. Review their work. Ensure internal financial controls are satisfactory.

Growth & Workforce Planning

• Analyze the financial impact of hiring and compensation decisions outside of the budget
• Evaluate the financial impact of technology or other investments and major expenditures.

Qualifications

• Significant experience as a CFO, Controller, Finance Director, or senior financial advisor.
• Experience with small or mid-sized professional services organizations.
• Strong budgeting, forecasting, cash-flow, financial modeling, and profitability-analysis skills.
• Excellent Excel and financial analysis skills.
• Strong business judgment and ability to communicate financial information clearly to multiple audiences (employees, leadership, managing members, outside parties).
• Ability to work independently in a fractional role.
• CPA welcome.

What Success Looks Like

The successful CFO will give owners and the President a clear understanding of where the business is today, where it is headed, and what actions should be taken to achieve its growth and profitability goals.

This is an excellent opportunity for an experienced financial professional who enjoys working directly with owners and helping a growing organization make better business decisions.