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Job Description BOCA RATON MUSEUM OF ART, INC.
Job Description
POSITION TITLE: Director of Finance
SUPERVISED BY: Chief of Staff
General Responsibilities
The Director of Finance works closely with the Chief of Staff and the Executive Director to plan, develop, implement, and direct the Museum’s and the Museum Foundation’s financial management activities and functions and ensures compliance with Generally Accepted Accounting Principles (GAAP). The Director of Finance guides the organization’s financial decisions by establishing, monitoring, and enforcing policies/procedures.
Specific Responsibilities
Financial Leadership:
Collaborate with the Chief of Staff to oversee all financial activities, ensuring sound fiscal administration.
Provide strategic input on financial policy, investments, and fiscal projections and translate broader strategic planning for the Museum into actionable financial plans.
Recommend and implement internal control procedures and policies to safeguard the Museum’s assets.
Serve as a liaison with auditors to maintain transparency and compliance.
Maintain financial records for the Museum, the Museum Foundation, and various grant and campaign programs.
Establish and maintain accounting control over restricted and endowment funds.
Provide timely and accurate analysis of budget and financial reports to assist senior management and the Finance Committee in decision-making.
Budgeting and Reporting:
Collaborate with the Chief of Staff to develop and manage the annual operating budget, securing approval from the Executive Director, the Finance Committee, and the Board of Trustees.
Continuously enhance financial systems, processes, and reporting tools, remaining up-to-date with the latest best practices in nonprofit finance.
Proactively identify areas for improvement and implement solutions to optimize financial operations and reporting accuracy.
Prepare, coordinate, and monitor specific budgets for grant programs, ensuring compliance with grant requirements and timely reporting.
Generate and distribute comprehensive financial reports to give senior management and the Board of Trustees valuable insights for informed decision-making.
Streamline financial data collection and reporting procedures to enhance efficiency and transparency.
Collaborate with cross-functional teams to align financial planning with organizational goals and objectives.
Cash Management:
Direct cash activities to maintain appropriate levels.
Optimize banking relationships to minimize costs.
Manage cash flow and investment accounts per policies.
Review and approve accounts payable and receivable functions, ensuring accuracy and timeliness.
General Ledger Activities / Net Financial Result:
Approve journal entries, edit ledger accounts, reconcile various accounts, and recommend or prepare campaign charge-offs.
Provide status reports on the organization’s financial condition.
Work with investment advisors to maximize returns while minimizing asset-related risks.
Approve financial statements and attend relevant meetings.
Act as a liaison with department heads on financial matters, including budget management.
Prepare management views of financial statements to facilitate decision-making.
Perform various general accounting tasks, including reconciliations and reporting.
Forecasting:
Focus on budget variance analysis and rolling financial analysis.
Anticipate future financial scenarios and advise senior management.
Prepare, review, and analyze monthly financial reports.
Prepare management views of financial statements to facilitate decision-making by senior leadership and the Finance Committee.
Monthly Closing:
Ensure timely and accurate recording of financial transactions.
Reconcile bank statements, accounts payable, and receivable.
Review and adjust accruals and deferrals.
Analyze expenses for accuracy.
Make necessary closing entries.
Maintain thorough documentation of closing activities.
Maintain the integrity of closed financial statements.
Annual Closing:
Engage external auditors for annual financial audits.
Revalue assets and liabilities as necessary.
Review accounts receivable for uncollectible amounts.
Review and update depreciation schedules.
Revalue inventory and ensure proper valuation methods.
Prepare comprehensive annual financial statements.
Prepare and deliver audit-ready financial statements, supporting schedules, and documentation to the auditors for annual review.
Present financial statements to the Board of Trustees.
Ensure compliance with tax requirements and grant agreements.
Maintain thorough documentation of the closing process.
Review and strengthen internal controls.
Department Management:
Oversee and lead the Finance Department, ensuring the seamless execution of accounting and financial functions.
Provide comprehensive supervision of departmental staff, including setting clear departmental objectives, meticulously managing schedules, and consistently evaluating and enhancing employee performance.
Technology Integration:
Proactively identify and execute opportunities to enhance financial systems and processes through software upgrades, integrations, or migrations, ensuring a smooth transition and minimal disruption to financial operations.
Collaborate with cross-functional teams to evaluate the feasibility and potential benefits of integrating new financial technologies or upgrading existing systems.
Stay abreast of emerging financial technologies and industry best practices, continuously seeking ways to optimize financial processes through technological advancements.
Establish and maintain strong vendor relationships to negotiate favorable software licenses, support, and maintenance terms while monitoring service delivery quality.
Confidentiality, Professionalism, Compliance, and Flexibility:
Maintain confidentiality and represent the Museum professionally.
Ensure financial practices align with nonprofit regulations.
Adhere to organizational policies, promoting excellence and high customer service.
Collaborate effectively with senior leadership.
Communicate clearly with all constituents.
Adhere to all codes, insurance requirements, grant guidelines, and GAAP.
Handle other assigned duties effectively.
Required Minimum Qualifications
Education and Experience:
Minimum bachelor’s degree in accounting, finance, business, administration, or a related managerial field. MBA in Finance, MFA, or CPA certification preferred
Five or more years of progressively responsible experience as a supervisor.
Experience With Nonprofit Organizations/fund Accounting Preferred.
Technical Proficiency:
Familiarity with Generally Accepted Accounting Principles (GAAP).
Experience with various systems, including CRM (Salesforce), POS (Vend), and Registration (Ticketure, Arlo).
Competent computer/software application skills (MS Office, Excel, QuickBooks, Abila MIP Fund Accounting).
Leadership and Communication:
Strong leadership, management, supervisory, technical, organizational, and communication skills are required.
Must be a strong motivator and able to maintain accountability.
Positive interpersonal skills to communicate effectively with staff, constituents, and the public.
Skills and Attributes:
Present a polished and professional appearance while consistently maintaining a pleasant demeanor.
Demonstrate an exceptional aptitude for solving complex financial challenges and strategic thinking to drive the organization’s financial success.
Excel in handling ambiguity and navigating uncertain financial situations with confidence and adaptability.
Exercise prudent and ethical judgment in all financial matters, ensuring the responsible stewardship of the company’s resources.
Display resilience in the face of financial setbacks, maintaining composure and proactively seeking solutions.
Effectively prioritize tasks, follow directions meticulously, and work independently to meet financial objectives.
Willingly undergo drug testing and possess the necessary qualities for bondability, ensuring the utmost integrity in financial management.
Availability and Flexibility:
Willingness to work flexible hours, including evenings, weekends, and special events when workload demands.
Working Conditions/Physical Requirements
Physical Requirements:
This is not a remote position and requires a minimum of 40 hours per week in the office at the Museum.
Requires standing, walking, sitting, bending, reaching, lifting, carrying, and manipulating various materials, supplies, tools, and equipment.
Occasional lifting and carrying of up to twenty pounds may be necessary.
Must sit for extended intervals while working on the computer and other tasks.
Independence and Adaptability:
Must function independently and effectively.
Adapts and performs job requirements under stressful and time-sensitive conditions.
Responds quickly to unforeseen changes in tasks and situations.
Demonstrates productivity and effective time management.
HOURS OF POSITION
Full Time 40 hours per week-Exempt/Salaried
Full Benefits
The Boca Raton Museum of Art is an equal opportunity employer dedicated to a nondiscrimination policy in employment without regard to race, creed, color, age, gender, gender identity, sexual orientation, religion, national origin, genetic information, disability, or protected veteran status. For more information, visit our website at http://bocamuseum.org.
Company Description
Boca Raton Museum of Art
Boca Raton Museum of Art
