Chief Financial Officer

  • Job Tracking ID: 512704-585810
  • Job Location: MADISON, WI
  • Level of Education: Masters Degree
  • Job Type: Full-Time/Regular
  • Date Updated: August 03, 2017
  • Years of Experience: 10 - 15 Years
  • Starting Date: September 1, 2017
  • Apply Type: Application
  • Salary: Commensurate with experience

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Job Description:


The Chief Financial Officer is responsible for providing strategic and day to day direction related to the accounting and financial activities of the World Council of Credit Unions including timely and accurate reporting of World Council operations, financial conditions and risks; and for assisting in the design and achievement of World Council’s long term financial and business objectives.



1. Lead both strategic and day to day operations of finance and accounting

  • Directs and participates in the organization’s development, implementation and evaluation of strategic financial objectives.
  • Develops short and long-term financial plans and projections to meet the goals and strategies of the organization.


2. Corporate Financial Management

  • Assesses financial strategy to increase capital, reduce accounts receivable, reduce cross company debt and focus resources on strategic and high return activities.
    • Monitors and identify financial monthly budget versus actual performance and risks.
    • Reviews and forecast financial performance.
  • Develops methodology and tools for World Council strategic financial planning, budgeting, cash flow management.
  • Develops and coordinates the preparation and implementation of the organization’s operating budget. Creates and reviews relevant financial performance indicators and compares operating results against budget projections. Analyzes and reports on significant trends and variances. Develops and maintains a system of periodic financial projections to ensure proactive adjustments to budget assumptions.
  • Ensures adequate liquidity while maximizing investment returns, providing for and overseeing the management and security of World Council funds and monitoring long-term solvency.
  • Ensures integrity, accuracy and transparency of finance, accounting, budgeting, and reporting.
  • Ensure financial integrity, timeliness and appropriate compliance of foreign accounts and fiscal operations.
  • Oversees control programs and procedures which are consistent with established World Council policies.
  • Oversees employee retirement plans and cost-effective capitalization strategies, including monitoring compliance with applicable laws, employee notifications, tax filings and external audit requirements.
  • Manages the capital improvement budget to ensure compliance with the annual operating budget.
  • Prepare timely and accurate financial reports for management, CEO and the Board of Directors.
  • Monitors and manages Corporate cash flow for the World Council, The Worldwide Foundation, and WOCCU Services Group.
  • Analyzes Project finances and demonstrates a comprehensive understanding of all business activities and the financial performance of World Council and its companies.


3. Accounting Oversight

  • Oversees accounting department and ensures positive and timely client service to internal departments.
  • Manage preparation of budgets, business plans and financial plans to achieve organizational goals.
  • Integrate organizational budget preparation, monitoring, reporting, forecasting as well as linkage to core areas and strategic goals.
  • Direct and oversee tax, accounting, insurance, banking activities, wires, capital budgets, cash and investment management, purchasing, payroll, insurance, risk management, facilities.
  • Manage accounts receivable, collections, accounts payable, payroll and disbursements.
  • Manage and forecast cash flow.
  • Reviews and monitors payroll processes to ensure timely and accurate payrolls, compliance with employment laws related to payroll, timely and accurate tax deposits, and that appropriate procedures are in place for confidentiality and internal controls.
  • Maintains written accounting policies and procedures.


4. Donor Related Accounting

  • Participate and collaborate in grant & contract proposal development.
  • Monitor and ensure restricted funding is applied according to donor specified requirements.
  • Prepare, submit and negotiate annual Negotiated Indirect Cost Rate with USAID.
  • Set target and manage annual corporate support costs.
  • Prepare external financial reporting obligations such as A-133 government grant audit and IRS form 990.
  • Oversee fiscal management of and reporting of grants and contracts as determined by USAID, OM circulars, federal guidelines, FAR, other donor requirements and private donations.
  • Ensures adherence to applicable donor regulations and reporting requirements.
  • Provides information and assistance to donor personnel on financial matters, as needed.


5. Technology

  • Identify, select and implement core accounting systems conversion.
  • Implement automation and simplification of budgeting, accounting and time billing procedures including:
    • Find and establish cost smart system solutions to reduce paperwork, redundancies, integrate systems, eliminate obstacles and to streamline work processes.
    • Develop and or integrate operational processes and tools for time sheet reporting, expenses reports, budget to actual expenses, project support.
  • Ensure timely and accurate accounting processing and reporting.
  • Ensure internal accounting monitoring & reporting responsiveness.
  • Improve timely and accurate reporting from the field offices.
  • Ensure cash flow management and reporting systems are in place.
  • Train and lead systematic data entry for systematization of accounting processing.
  • Automate entry and reduce/eliminate duplication of data.
  • Integrate field data entry into headquarters systems.
  • Lead and support IT upgrades to improve financial and accounting efficiencies, risk management.


6. Compliance

  • Update and maintain Financial and accounting policies and procedures.
  • Liaise with and prepare monthly Board and Audit and Risk Management Committee Financial and risk reports.
  • Lead audit preparations and drafts response as appropriate.
  • Liaises with Auditor regarding audit issues.
  • Develops and monitors a system of internal controls to assure that receipts and disbursements are accounted for according to GAAP and donor requirements.
  • Assists in the selection of World Council’s audit firm every three years by distributing RFP and preparing recommendations for submission to the Audit and Risk Management Committee.
  • Interfaces with outside tax preparers for preparation of all tax filing requirements. Prepares necessary documentation for complete and accurate tax returns.


7. Strategic Support

  • Provide strategic counsel on financial profitability and expense management, business performance and cost allocation.
  • Participate on Senior Management Team in development and execution of strategic plans.
  • Supports managers with analytical review of revenues and expenses.
  • Advise on short and long term financial strategic management.
  • Serves as Treasurer on the Board of Directors of WOCCU Services Group (WSG), a for-profit company wholly-owned by World Council.
  • Coordinates and/or directs special projects of analyses as may be assigned by the CEO.


8. Leadership

  • Communicate effectively with internal and external clients and constituencies.
  • Liaise with internal client departments and build a positive culture of service, collaboration and proactive solutions with team support.
  • Serve as a representative for the organization with identified audiences per delegation and consultation with the CEO.
  • Build team relationships across departments.
  • Lead department staff to interface with other department staff in maintaining a positive corporate culture.
  • Represents the organization at meetings, conferences and projects in the area of finance. Maintains effective working relationships with applicable donor personnel, other credit union development organizations, external auditors, attorneys and other parties.


Experience and Skills:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to ensure individuals with disabilities to perform the essential functions.

Education and Experience: MBA, MS in Finance or equivalent education and work experience. CPA required. Minimum of ten years of financial and accounting experience to include development and maintenance of accounting and financial management systems, preferably within a Corporate Finance Department or a public accounting environment. Five years of management and supervisory experience. Knowledge of federal and local payroll rules and regulations and nonprofit taxation. Familiarity with employee retirement plans, including 401(k) and defined benefit plans. Experience in working with federal funded contracts.

Language Skills: Fluency in English, familiarity with Spanish preferred.

Computer Skills: Excel, Word, Power Point, payroll and general ledger accounting software applications.

WORK ENVIRONMENT: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of the job, the employee may occasionally be exposed to outdoor weather conditions extreme heat and/or cold and working in unusual places. The noise level in the work environment is usually moderate.

PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit (occasionally for extended periods of time). The employee is frequently required to talk, hear, reach and stand; rarely required to stoop, kneel, crouch or crawl. The employee must occasionally lift and/or move up to 25 pounds.

CERTIFICATES AND LICENSES: Certified Public Accountant

SUPERVISORY RESPONSIBILITIES: Supervision of VP, Finance, Controller, Project Staff Accountants.

TRAVEL: Up to 40 days per year; domestic and international.



Click below for a full description of benefits available to World Council employees!