Director of Finance

WHO WE ARE

Foster America is transforming the way our nation supports families. Together with communities and local governments, we’re creating a just, equitable alternative to today’s child welfare system – so parents and children stay together with access to the resources they need to thrive. We:

Drive Innovation: We are designing solutions alongside our nation’s boldest governments and communities. Together, we demonstrate that bolstering support for families is an effective alternative to referring them for a child welfare investigation that may lead to the separation of families.

Catalyze Changemakers: We’re building a network of people with the imagination – and determination – to transform the child welfare system. We nurture and connect leaders, growing their skills and amplifying our collective impact.

Spread and Scale Knowledge: We share what works, so more families and more organizations in more places have the support they need. Our workshops and training allow child welfare practitioners, community leaders, and those who have experienced the foster care system firsthand to learn from our team and one another. 

To learn more about Foster America, please visit https://www.foster-america.org/  

The Opportunity

Foster America seeks a Director of Finance to play a critical role in our next chapter of impact.

Reporting to the Vice President of Finance and Operations, the Director of Finance will provide strategic financial leadership and oversight for Foster America’s $7 million budget. The Director will oversee all aspects of accounting, financial reporting, budgeting, grants management, and audit coordination. As a key member of the leadership team, the Director will work closely with senior leadership and the board of directors to ensure financial health and sustainability.

Requirements

Financial Management & Strategy (30%)

• Serve as a strategic financial advisor to the leadership team, providing insights and recommendations to support decision-making.
• In collaboration with the VP of Finance and Operations, support the annual budgeting and forecasting process, working collaboratively with program leaders to develop, monitor, and adjust budgets.
• Oversee cash flow management to ensure adequate liquidity.
• Analyze financial data to identify trends, opportunities, and risks.
• Develop financial models and analyses to support Foster America's fundraising goals.
• Represent the organization in financial matters with external stakeholders including auditors and bankers.
• Stay abreast of financial regulations and best practices in the nonprofit sector.

Accounting, Audit & Operations (70%)

• Oversee all financial systems, ensuring compliance with GAAP and regulatory requirements.
• Prepare accurate and timely month- and quarter-end close reports and supporting data.
• Manage accounts payable and receivable, payroll, and grants administration, including compliance and reporting.
• Maintain vendor records and contracts.
• Ensure compliant invoice and expense payments.
• Manage consultant contracts and process related documents.
• Oversee credit card, program participant disbursement and reimbursement procedures.
• Develop and implement financial policies and procedures to improve efficiency and internal controls.
• Supervise the accounting contractor.
• Track active contracts and schedule alerts.
• Coordinate and oversee the annual audit process, ensuring smooth and successful engagement with external auditors.
• Prepare audit schedules and supporting documentation.
• Address audit findings and implement recommendations for improvement.

WHO YOU ARE

• A purpose-driven leader who is committed to Foster America’s mission and values. You are motivated and inspired to use your skills in service of transforming the way our nation supports children and families. You thrive in a start-up, fast-paced environment that values relationships, feedback, continuous learning, experimentation, and a deep commitment to social justice and racial equity. 

• A skilled communicator and strong team collaborator. You can articulate thoughts and ideas clearly and effectively. You adapt your communication styles to suit different audiences.

• An entrepreneurial spirit who is excited by growth and big ideas. You are action-oriented and willing to lead with autonomy. You are focused on process improvement and apply focus and vision to get from Point A to Point B.

• A flexible, self-directed, and willing team member. You collaborate easily, pitch in where needed, and are comfortable with shared responsibility. We’re a small team and new things come up all the time—you should be ready to dive headfirst into any project that comes up!

• A leader for justice, equity, diversity, and inclusion. You negotiate and facilitate through cultural differences, conflicts, tensions, or misunderstandings.

• An organized, proficient project manager and implementer. You have the ability to move the work forward, proactively manage multiple workstreams, organize the work, lean on context, proactively plan for interdependencies, assess risk, and account for contingencies to inform decisions.  

• An innovator excited by organizational change. You embrace and lead through times of ambiguity, modeling adaptability and a high level of awareness of how change impacts others. You approach new ideas, changes in work, or challenges with a sense of possibility and a solutions-based attitude.

FIRST YEAR SUCCESS IN THIS ROLE

The Director of Finance will demonstrate success during the first year through:

Financial Management & Strategy

• Successful Budget Implementation: Implement the annual budget in collaboration with program leaders, ensuring alignment with strategic goals and effective resource allocation. Monitor budget performance throughout the year, identify variances, and implement corrective actions as needed.
• Accurate & Timely Financial Reporting: Refine the system for producing accurate and timely monthly, quarterly, and annual financial reports for the leadership team and board.
• Enhanced Financial Forecasting: Develop and implement a financial forecasting model that anticipates future financial needs and supports strategic planning.
• Strengthened Internal Controls: Review and enhance internal financial controls to ensure compliance, mitigate risks, and safeguard assets.
• Improved Cash Flow Management: Implement strategies to optimize cash flow and maintain adequate liquidity to meet the organization's obligations.
• Strategic Financial Insights: Provide valuable financial insights and recommendations to the leadership team, contributing to informed decision-making and strategic planning.

Accounting, Audit & Operations

• Clean Audit: Successfully complete the annual audit with no material weaknesses or significant deficiencies identified.
• Streamlined Processes: Identify and implement process improvements to increase efficiency and accuracy in accounting, grants management, and other financial operations.
• Strong Vendor Relationships: Establish and maintain positive relationships with vendors, ensuring timely payments and effective contract management.
• Up-to-date Policies & Procedures: Update and maintain financial policies and procedures to reflect best practices and ensure compliance.

Leadership

• Trusted Financial Advisor: Establish credibility and trust as a financial expert and advisor to the leadership team and board.
• Cross-functional Collaboration: Develop strong working relationships with program leaders and other departments to ensure alignment between financial and programmatic goals.
• Continuous Improvement: Demonstrate a commitment to continuous learning and improvement in financial management practices and systems.

QUALIFICATIONS

This is an extraordinary opportunity for an experienced leader with 7 to 10 years of accounting and finance experience( ideally beginning in accounting and audit, then progressing to gathering, evaluating, presenting, and reporting financial information to executive teams and external stakeholders).

• 7-10 years of accounting and finance experience with a background in accounting, audit, and financial reporting.
• Experience in a complex nonprofit with multiple programs.
• BA required; CPA and/or MBA preferred.
• Strong knowledge of GAAP, audit procedures, and grants management.
• Familiarity with technology with experience in accounting and reporting software.
• Excellent communication and interpersonal skills.
• Ability to translate complex financial concepts to diverse audiences.
• Demonstrated leadership and strategic thinking skills.

REPORTING

This role will report to the Vice President of Finance and Operations and work closely with the Leadership Team. The Director will oversee our engagements with Finance contractors.

Benefits

This position offers a competitive salary range of $122,000 - $142,000. Final salaries are based on years of related experience. Foster America offers a comprehensive benefits package including medical insurance, paid vacation, paid parental leave, paid holidays, commuter benefits, participation in a retirement plan, paid sick time, and professional development opportunities. More details are available upon request. See our detailed benefits package here.

This is a fully remote position. It requires prolonged periods of sitting at a desk and working on a computer. This role may include up to 10% travel.

START DATE

This role begins January 2025.

Foster America is an equal opportunity employer that values diversity in backgrounds and professional experience. Frequently cited statistics show that underrepresented groups apply to jobs only if they meet 100% of the qualifications. Foster America encourages you to break that statistic and apply. No one ever meets 100% of the qualifications. We look forward to reviewing your application.