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Overview:
MoFi provides entrepreneurs and business owners with business financing when they are not eligible for financing at a bank. MoFis clients are low wealth, low income, lacking in assets, and/or starting a new business”but within 36 months, most of MoFis clients are eligible for a bank loan. In order to help our loan clients build their businesses, increase profitability, and eventually get refinanced, we provide accounting assistance and financial management coaching.
This position works with clients across our portfolio to help them build and understand their financial systems. You will be responsible for working with clients to create managerial financial statements so that they can increase their profitability and cashflow, increase their net worth, and build personal credit. MoFi provides 1:1 consulting services over the life of the loan to improve our clients financial stability and help them access the financial mainstream.
Duties:
1. Support clients with Financial Management:
- Work with borrowers to set up accounting systems; create simple and effective charts of accounts, record opening balance journal entries, and connect bank feeds and third-party applications to the clients accounting software
- Recommend appropriate software and subscription levels depending on the nature and size of a clients business
- Provide resources and training that increase the clients ability to take ownership of financial management
- Provide ongoing accounting and finance support related to handling unique and/or non-routine transactions, recommend software solutions and troubleshoot problems, track sales and payroll tax, and other bookkeeping tasks
- Advise clients on general business questions, including pricing strategy, vendor relationships, and cash management
- Meet with clients regularly to maintain and develop working relationship and efficiently address any client concerns
- Work with clients to develop financial dashboards and metrics so that they can successfully monitor their business financial health
2. Assist Consulting Services Team with monitoring financial performance of clients:
- Review client financials to ensure completeness and accuracy
- Monitor client financial health by analyzing profitability, debt service, and liquidity
- Advise clients experiencing negative trends on how to improve business operations
- Work with the consulting team to accomplish annual work plan goals and targets
3. Help Consulting Services Team ensure clients obtain re-financing:
- Create an action plan with measurable targets that, when met, indicate client eligibility for re-financing
- Implement action plan and ensure clients are taking steps to achieve agreed-upon targets
- Facilitate client and banker relationships that will be utilized when clients are ready to be re-financed
Skills and Qualifications:
- CPA with 2-4 years of public accounting experience, ideally in audit
- Proficient with Quickbooks or a demonstrated ability to learn and use accounting software
- Excellent team player with humility, flexibility, and collaborative nature
- Excellent written and verbal communication skills
- Detail oriented and strong organizational skills
Salary starts at $60,000 per year. Read more at: https://www.mofi.org/job/client-accounting-manager/
