• Chief Financial Officer

    Job Locations US-IA-Iowa City
    Posted Date 2 months ago(11/14/2018 1:49 PM)
    Job ID
    # of Openings
    Up to 25% Travel
  • Overview

    ACT is a nonprofit organization helping people achieve educational and workplace success.  Our programs are designed to boost lifelong learning in schools and workplaces around the world. Whether it's guiding students along their learning paths, enabling companies to develop their workforce, fostering parent, teacher, and counselor understanding of student progress, guiding job seekers toward career success, or informing policymakers about education and workforce issues. ACT is passionate about making a difference in all we do.  Learn more about working at ACT at act.org.


    The Chief Financial Officer (CFO) is the chief financial spokesperson for the organization and is an integral member of senior management at ACT, our organizational strategy, and reports directly to the Chief Executive Officer (CEO).  This executive leader is responsible for all strategic and tactical matters as they relate to providing financial insight and recommendations to both the short- and long-term transformation of the organization.  The CFO oversees finance and accounting, contract management, legal and facilities functions. 


    The CFO has a significant opportunity to influence the success of ACT with responsibilities for financial planning, managing financial risk, and ensuring leadership, the board of directors and team members in general have clear understanding of the organizations financial health and sustainability.  Realizing the true performance potential of our company requires the CFO to develop an unbiased, holistic, end-to-end view of the company’s full value chain—from customer needs to back-office operations to suppliers’ contributions to competitors’ positioning—and pinpoint the places that need attention. The CFO should partner closely with the business leaders, helping to convert these insights into specific action items and initiatives.



    Capabilities, competencies, and knowledge/skills/abilities for this assignment:

    • Outstanding communication and presentation skills
    • Demonstrated leadership ability, confidence and executive presence with customer focused approach
    • Collaborative approach to executive leadership and ability to work effectively with cross functional teams to meet goals, drive growth and impact organizational performance.
    • Robust understanding of financial accounting, with proven success creating financial models, managing reporting, ensuring proper control and audit processes, preferably with an organization going through rapid change.
    • Ability to motivate and encourage team members to take initiative
    • Experience with corporate governance.
    • Proven negotiation skills.
    • Track record of success working directly with Boards of Directors and the Audit Committee.
    • Experience with budget management, public accounting, and cash flow.
    • Excited by a fast-paced dynamic environment, with high level of ethics and integrity.
    • Excellent ability to identify and implement process improvements, system overhauls and solutions to improve efficiency and effectiveness.
    • Demonstrated commitment to diversity and inclusion, with ability to serve as exemplar for organization’s values and foster an inclusive and respectful work environment.
    • Ability to understand new issues quickly and make data driven decisions.
    • Outstanding knowledge and understanding of GAAP, IFRS, SOX compliance, SEC reporting, and not for profit accounting.
    • Ability to work under pressure, plan personal workload effectively and delegate.


    The roles, functions or departments that this assignment will require:

    Managing Key Stakeholder Relations: 

    • Shaping the internal and external relationships that determine success.
    • Managing board relationships; Dealing with the external financial community; Managing auditors and regulators.

    Strategic Agility and Business Acumen: 

    • Becoming a valued business partner to the CEO.
    • Big picture thinking; Client and stakeholder needs; Competitive advantage. 

    Organization Leadership:

    • Provide programmatic support and guide organizational strategy by developing budgets and analyses for the organization as a whole, as well as individual programs.
    • Recognize and anticipate opportunities and challenges as they relate to financial systems and operations; generating ideas, strategies, and solutions to drive impact.

    Strategic Financial and Accounting Management:

    • Proactive in identifying financial risks to the organization, and new opportunities.
    • Conduct strategic analyses, creating financial models to evaluate potential opportunities (e.g.: program expansion, partnerships, etc.); and make recommendations based on those analyses.
    • Oversight of finance team that manages the day to day accounting and financial operations of the organization.
    • Design, develop, implement, and communicate overall financial strategy, identifying strategic and operational issues for different audiences, including the Board of Directors.
    • Oversee the organization's banking activities and actively manage cash flow to ensure it meets organizational needs.
    • Serve as primary liaison with independent auditor, overseeing internal audits and ensuring the accurate and timely production of accounting information and financial reports.


    Examples of processes, programs, behaviors, or tasks that are likely to be a part of this assignment:

    • Work collaboratively with CEO and the senior management team to develop and deliver financial systems, analysis, and thought leadership aligned to the mission and strategic vision of ACT.
    • Participate in developing new business, specifically: assist the CEO and CCO in identifying new funding opportunities, the drafting of prospective programmatic budgets, and determining cost effectiveness of prospective service delivery.
    • Develop process to determine and monitor direct and indirect costs for all products.
    • Financial leadership for long term operational goals, budgets and forecasts. Ensure financial discipline.
    • Lead the financial analysis of significant investment transactions including mergers, joint ventures, et al.  Assess the benefits of all prospective contracts and M&A activity and advise the senior executive team.
    • Formalize financial decisions matrix to enable Build/Buy/Partner analysis.  Identify and address financial risks and opportunities for the company.
    • Establish TCO for ACT products and services accurately representing strategic funding availability.
    • Responsible for financial oversight in our investments in core capabilities, finding alternatives for noncore, optimizes processes, and manages our bottom line all focused on delivering well-designed, high value customer experiences.
    • Establish holistic forecasting and budget model aligned to organizational priorities and growth strategy.


    Trainable attributes that will help the individual to grow in this assignment:

    Leadership in the C-Suite:

    • Developing self-mastery. Communication and influence; problem solving and decision making; direct and matrix leadership.



    • Bachelor Degree in Accounting, Finance, or related field
    • MBA preferred
    • Or an equivalent combination of education and experience from which comparable knowledge and abilities can be acquired
    • Certified Public Accountant designation a plus


    • 5 years of broad strategic financial executive leadership experience
    • 15 years total accounting or finance experience, including planning and managing budgets
    • Industry experienced strongly preferred, including EdTech
    • Demonstrated experience building, leading and managing teams
    • Experience with not-for-profit accounting in accordance with U.S. Generally Accepted Accounting Principles, OMB Circulars A-133, A-110 and A-122, TANF program regulations and compliance requirements, and appropriate Code of Federal Regulations sections.

     Location: This position will be located at ACT, Inc. headquarters in Iowa City, Iowa.


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