Managing Director of Finance

Managing Director of Finance

02 Sep 2021
Arkansas, Helenaorblytheville 00000 Helenaorblytheville USA

Managing Director of Finance

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Job Description

Managing Director of Finance

Position Description
KIPP Delta seeks an experienced and knowledgeable hands-on Managing Director of Finance (MDF) who will lead and manage all budgeting, daily accounting operations, audit, compliance, and monthly/annual financial reporting for an organization with a $19MM+ annual budget.

Reporting directly to the Chief Operating Officer, the MDF is responsible for overseeing all financial functions and business operations within KIPP Delta. In doing so, the MDF will be charged refining and executing on the strategic financial vision for the organization and managing a team to sustained efficiency in all aspects of finance, accounting, and grants management. These duties also include processing payroll and securing loans as needed.

The MDF will work closely with the senior leadership team, school staff, and others across the organization to streamline systems, update policies, and enforce standard operating procedures that ensure financial accuracy and provide maximum benefit to the organization. Responsibilities include, but are not limited to:

Strategic Planning (15%)

  • Support the development of a strategic financial plan reflecting educational priorities and sustainability

  • Lead the annual budget and forecast processes

  • Refine and maintain financial models with input from senior leadership that will inform both near term and long-term decision making by school and regional leaders

  • Support the acquisition and planning for new facilities, vehicles, and sizeable equipment and technology, determining cost-effective solutions related to the expansion of the region

Management and Leadership (15%)

  • Manage and develop competencies of the regional finance team members

  • Serve as a thought-partner to school and regional leaders in all aspects of financial decision-making through strong budgeting processes, financial reporting, and analysis

  • Support KIPP Delta directors and managers with the training, tools, and supervision needed to effectively manage financial operations within their department or school

  • Supervise and execute on organizational-wide financial policies and accounting practices to ensure continuous compliance in all aspects of financial reporting

  • Ensure high levels of customer service to internal and external stakeholders

  • Support the execution of setting compensation for new and returning hires

  • Liaise with Finance Committee and larger Board members on all finance matters

Fiscal Policy (5%)

  • Maintain a nuanced understanding of laws and regulations pertaining to school finance and business operations in Arkansas

  • Make recommendations for policy changes as needed

  • Maintain a comprehensive and accurate system of accounting policies and procedures

  • Ensure forms, templates, and one-pagers stay updated as needed

  • Provide training on new or evolving policies as needed

Finance and Accounting Management (25%)

  • Oversee the month-end and year-end closing process

  • Ensure the day-to-day financial activities are completed accurately, timely, and in compliance with state and federal rules.

  • Maintain a well-documented system of accounting policies and procedures consistent with GAAP, GASB, and/or FASB as applicable for an Arkansas non-profit public school as prescribed in the Arkansas Financial Handbook

  • Manage cash collection procedures and ensure policy adherence

  • Oversee credit card processes, including balance availability, limit increases, fraudulent activity, issues and/or problems

  • Manage the accounting system, eFinance; accounts payable system, AvidXchange; and time management system, SwipeClock; and ensure it is meeting the needs of the organization

  • Ensure acceptable cash balances in each bank account and make transfers as needed

  • Provide training to end users on KIPP Delta’s financial and time keeping systems and accounting policies and procedures, chart of accounts, etc.

  • Manage the annual financial audit and 990 tax process

  • Process adjustments and other journal entries as needed

  • Maintain the chart of accounts

  • Maintain and manage fixed assets in financial system

  • Maintain an orderly accounting filing system

  • Maintain a system of controls over accounting transactions

  • Research and resolve transaction errors and re-class as needed

  • Manage inter-organizational transfers and reporting

  • Review accounts payable and accounts receivable batches prior to posting and processing

  • Provide support to the Chief Operating Officer as needed

Payroll (15%)

  • Ensure monthly payroll entries and adjustments, salary allocations, and payroll/ benefits/ATRS/payroll tax import and journal entries are complete and accurate

  • Review and verify late start, transition, payout, and FMLA worksheets

  • Approve payroll before submission by Payroll Consultant

  • Ensure the active employee list ties to the active budget

  • Manage annual processing of W-2s and 1095s in coordination with Payroll Consultant and Finance/HR Assistant

  • Process quarterly filings such as 941s and Employment Security reports

  • Coordinate with Human Resources Director on payroll related issues, procedures, and policies as needed

Audit and Compliance (10%)

  • Actively monitor encumbered grants and work with entities to ensure maximum benefit for students

  • Coordinate the provision of information to external auditors and ensure accuracy of data and information for the annual audit

  • Record the minutes of Finance Committee meetings and make available according to regulations

  • Conduct periodic internal audits to ensure compliance with cash, grant accounting, and accounts payable/receivable policies and procedures

  • Manage commercial banking relationships and monitor cash and debt levels

  • Comply with local, state, and federal government reporting requirements and tax filings

  • Safeguard assets and ensure accurate and timely recording of all transactions by implementing disciplines of internal audits, controls and checks across all departments

Reporting (10%)

  • Ensure bank reconciliations, financial reports, and state required information is accurate and submitted timely to external stakeholders.

  • Review budget variances and report significant issues to management

  • Create and manage various financial reports to assist with budget and grant analyses

  • Conduct financial analyses as needed

  • Create and submit Cycle Reports 8, 9, and 1 to Arkansas Department of Education (ADE)

  • Provide assistance with other mandated state reports

  • Assist the Child Nutrition Director with submission of monthly claim

Grants Management and Administration (5%)

  • Assist in grant reporting and provide information and backup documentation as needed

  • Work with team and school-based staff to track spending against restricted grants to ensure maximum benefit and appropriate spending

  • Ensure capital loan and grant reporting is accurate and meets the needs of the internal and external stakeholders

  • Ensure correct coding and entries

  • Be responsive to ADE financial requests and provide support to Chief Operating Officer


Required Education, Credentials, & Experience

Bachelor’s degree in Finance or Accounting required; MBA and/or CPA strongly preferred

  • Five to ten years of experience in accounting role with a successful track record; prior nonprofit, fund accounting, and/or K-12 education experience is preferred

  • Proficient in MS Excel and other MS products

  • Technology savvy to efficiently and effectively manage data for financial reporting; knowledge of eFinance desired

  • Demonstrated success in developing and monitoring systems to manage internal operations and processes to meet monthly, quarterly and annual deadlines

  • Ability to anticipate the infrastructure and systems needed in a growing multi-entity nonprofit

  • Keen analytic and problem solving skills

  • Strong organizational skills and attention to detail

  • Strong time management and ability to prioritize

  • Strong judgment and decision-making skills

  • Flexible and strong ability to multi-task

  • Goal and deadline-driven

  • Team-player capable of working both collaboratively and independently

  • Thrives in entrepreneurial start-up environment and working conditions; can work within an ambiguous, fast-moving environment while also driving toward clarity and solutions

  • Excellent interpersonal and communication skills; ability to translate financial concepts to individuals at all levels including finance and non-finance managers

  • Personal qualities of integrity, credibility, and commitment to the mission of KIPP Delta Public Schools

Additional Information

Salary is commensurate with experience.

As an equal opportunity employer, KIPP Delta does not discriminate on the basis of race, color, religion (creed), gender, age, national origin (ancestry), disability, marital status, sexual orientation, military status, or any other basis made unlawful by applicable federal, state, or local laws or regulations.

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