Alpha Kappa Alpha Sorority, Inc. is seeking an experienced, hands-on Chief Financial Officer (CFO) for its Corporate Office, located in Chicago, Illinois. The CFO is responsible for the management of all financial matters of the Sorority. S/he reports to and works closely with the executive director. S/he works with the International President and International Treasurer in developing and monitoring the sorority’s operational and conference budgets, and partners with the senior leadership and the board of directors to develop and implement financial strategies across the organization.
Alpha Kappa Alpha Sorority, Incorporated (AKA), an international service organization, is the oldest Greek-lettered organization established by African-American college-educated women, founded on the campus of Howard University in Washington, D.C. in 1908. Alpha Kappa Alpha Sorority fulfills its mission of “Service to All Mankind” with a membership of 260,000 graduate and undergraduate members in the U. S. Virgin Islands, the Caribbean, Canada, Japan, Germany, Korea and on the continent of Africa. The corporate structure of the Sorority includes a Board of Directors (The Directorate) of elected and appointed officers, led by the International President, Attorney Carolyn House Stewart; ten regions, each led by a Regional Director; and the Corporate Office, led by the Executive Director.
The Sorority seeks a strong manager who preserves the assets of the organization by running an efficient and effective finance operation and minimizing risks. The ideal candidate helps shape the Sorority’s overall financial strategy and direction, in a collaborative manner. S/he has strong interpersonal, problem solving and communication skills, enjoys stakeholder interaction, instills customer service values in the organization and fosters a system of accountability and teamwork.
- BA or BS degree in Business, Management or Public Administration, Accounting or equivalent combination of education and experience required; MBA or Master’s degree in like discipline preferred.
- Certified Public Accountant (CPA) required.
- Not-for-profit accounting experience in accordance with U.S. Generally Accepted Accounting Principles, Sarbanes-Oxley Reporting for Non-Profits.
- General office software, particularly the Microsoft Office Suite and Sage Fund (formerly, MIP) software or other similar not-for-profit general ledger software and use of databases.
- Experience at the Controller or Chief Financial Officer level.
- Seven to ten years of financial experience and management experience with the day-to-day financial operations of an organization of at least 50 staff persons.
- Strong communication and interpersonal skills.
- Flexible work hours including weekends (Regional, National Conferences and Directorate or Committee Meetings). Travel, as required (approximately 20%).
The Chief Financial Officer (CFO) is responsible for all financial matters of the Sorority. The CFO oversees all compliance with regulatory authorities and recognition for contracts and grants. S/he reports directly to the Executive Director (ED) on all strategic and tactical matters as they relate to budget preparation and management, cost benefit analysis, forecasting needs, fund allocation and the securing of new funding. Additionally, the CFO works with the Supreme Basileus (International President) and Supreme Tamiouchos (International Treasurer) in developing and monitoring the sorority’s operational and conference budgets. S/he partners with the senior leadership and provides both operational and programmatic support to the organization. The CFO is the chief financial spokesperson for the organization. S/he must be able to adapt to a continually evolving environment and thrive in an autonomous and deadline-oriented workplace while supervising the accounting department and a staff, which includes Senior Accountant (Payables), Senior Accountant (Receivables), Regional Accountant, Accounting Clerk.
Planning, Policy, and Sorority Relations
- Oversees cash flow planning; monitors and ensures sufficient internal cash controls are in place and enforced.
- Oversees cash, investment, and asset management
- Oversees financing strategies and activities, as well as banking relationships.
- Develops and utilizes forward-looking, predictive models and activity-based financial analyses to provide insight into the organization’s operations and business plans.
- Works directly with the Executive Director, International Treasurer and Finance Committee to prepare a comprehensive budget and to secure adequate funding for the operation of the organization.
- Ensures all financial records of Alpha Kappa Alpha Sorority, Inc. are maintained in a manner that is consistent with generally accepted accounting principles.
- Provides the International President, International Treasurer and Executive Director with reliable and timely information on the fiscal conditions of Alpha Kappa Alpha Sorority, Inc., to include monthly financial reports.
- Ensures that the organization complies with all legislation covering taxation and withholding payments.
- Administers the funds of the organization according to the approved budget and ensures availability of funds, as needed
- Receives and accounts for all funds; analyzes cost controls, cash and expenses; makes financial statements available for each meeting of the Directorate and Finance committee.
- Apprises the International Treasurer of the organization’s receipts, fund balances and expenditures. Provides budget data to the Finance Committee.
- Assists the International Treasurer in the dissemination of the annual audited financial statements to the chapters.
- Participates in all meetings of the Finance and Investment Committees.
- Provides Financial Training to new members of the Directorate.
- Serves as Corporate Controller at the Boule (Biennial National Conference).
- Provides supervision to the Regional Accountant to ensure that Directorate and committee chairmen have submitted required quarterly expense reports
- Keeps adequate records on non-exempt function income requiring tax set asides
Accounting and Administration
- Assists the International Treasurer, Finance Committee and International President in the development of budgets, including the sorority operations budget and conference budgets.
- Monitors approved budgets.
- Develops financial business plans and forecasts, as requested.
- Establishes and implements short and long range departmental goals, objectives, policies and operating procedures.
- Engages the finance committee and investment committee of the Board of Directors to develop short-, medium-, and long-term financial plans and projections.
- Establishes working relationships with regional directors and regional treasurers through supervision of the Regional Accountant.
- Represents the Sorority to financial partners, including financial institutions, corporate sponsors, auditors, public officials, etc.
- Remains current on nonprofit audit best practices and state and federal law regarding nonprofit operations.
- Oversees the accounting department to ensure proper maintenance of all accounting systems and functions; supervise accounting and any other finance staff.
- Ensures maintenance of appropriate internal controls and financial procedure manual.
- Coordinates the preparation of financial statements and financial reports.
- Develops and implements finance, accounting, billing and auditing procedures.
- Prepares monthly general ledger entries, as required.
- Supervises reconciliation of accounts on monthly basis and ensures books are always in order.
- Ensures timeliness, accuracy, and usefulness of financial and management reporting; oversees the preparation and communication of monthly and annual financial statements.
- Coordinates annual financial audit and requests from outside auditors.
- Ensures timely filing of all tax returns.
- Ensures legal and regulatory compliance regarding all financial functions, inclusive of local, state and federal budgetary reporting requirements.
to secure application. All interested candidates should submit their application and resume to firstname.lastname@example.org
by October 8, 2012Alpha Kappa Alpha Sorority, Inc. is an Equal Opportunity Employer