Chief Financial Officer
Museum of Fine Arts
- Posted: over a month ago
Job Description: THE SEARCH PROCESSThe MFA has retained Spencer Stuart to support the search for the next CFO. If you wish to submit your own application materials or nominate a candidate for this position, please send an email message with supporting materials to: MFACFO@spencerstuart.com. ABOUT THE ORGANIZATION As one of the world’s renowned art museums, the Museum of Fine Arts, Boston (MFA) boasts a collection that spans nearly all cultures and time periods. The original MFA opened its doors to the public in July of 1876 with 5,600 works of art. Today, the MFA is recognized for the quality and scope of its collection, exhibited in more than 140 galleries, which includes Art of the Americas; Art of Europe; Contemporary Art; Art of Asia; Art of Africa and Oceania; Art of the Ancient World; Prints and Drawings; Photography; Textile and Fashion Arts; and Musical Instruments. Today, in addition to this collection that now encompasses nearly 500,000 works of art, the MFA is a lively social destination that offers concerts, films, and lectures while also serving as an important community and learning resource for schools, families, and visitors near and far. In recent years, the MFA has welcomed more than 1.2 million visitors each year, and in FY 2019, the museum saw more than 1.3 million visitors – a level of attendance not seen at the MFA since 1999. The MFA’s mission is to collect and preserve its collections thoughtfully and share the works of art in the museum with Boston and beyond, while creating and providing engaging, and memorable experiences. While the museum is deeply rooted in the Boston community, it is an international institution with programming and research partnerships throughout the world. This is all possible through the efforts and dedication of the MFA’s talented staff, volunteers, donors, members, and community partners. The MFA culture is built on collaboration, generosity, trust and service. The MFA’s most recent strategic plan, MFA2020, has served as a catalyst for undertaking a broad range of projects through a strong spirit of collaboration. Initiatives are designed to deepen the MFA’s connection to its current audience, while expanding and engaging with new and diverse communities to make it a more inclusive museum where everyone feels they belong. Many projects mark new opportunities for the museum while others are expansions of successful programs. All are designed to cultivate active conversation, engagement, connection, and understanding through art, both externally for visitors, and internally for staff. Financial and operational highlights$1.2 billion Net Assets$717 million Endowment$100 million Outstanding DebtMajor Revenue Streams as percentage of Total Program Revenue (FY 2019) Endowment Income and Trust Income: 34% Admissions and Membership: 19.9%Parking, Food Service and Retail: 14%Programs, Education, Adult and School Groups: 3.4%Rent, Touring and Intellectual Property: 13.7%Private Support (Operating Philanthropy): 15% For additional financial and operational information about the MFA, please click here. THE OPPORTUNITY Reporting to Matthew Teitelbaum, MFA Director, and Advisor to the Board of Trustees, the Chief Financial Officer (CFO) will play a critical role in supporting the financial objectives of this venerable, comprehensive art museum. The successful candidate will be a forward-thinking and highly collaborative leader who will serve as a trusted partner in stewarding the MFA’s resources and executing a sound investment strategy, all with a thoughtful, measured approach, in support of the museum’s continued impact. The CFO will ensure the absolute institutional integrity on fiscal matters and is responsible for directing the day-to-day fiscal functions of the museum, including oversight of all financial operations such as procurement, the Controller’s office, budget & planning, and treasury. Key relationships Reports to Matthew Teitelbaum, Ann and Graham Gund Director Direct reports Procurement Controller’s Office Budget & Planning Treasury Other key relationships Eric Woods, Chief Operating Officer Cameran Mason, Chief External Relations Officer Chief of Staff (vacant) Christina Yu Yu, Chief of Curatorial Affairs and Conservation Chief of Learning and Community Engagement (vacant) Chairs of Board Committees: Audit, Investment and Budget and Finance MFA Board of Trustees and Board of Advisors Key responsibilities Oversee and support the full range of financial and accounting functions, consulting and advising on all financial issues, compliance, and risk management for the MFA.Provide the professional leadership necessary to continue to build and maintain a “best practices” finance division supportive of the museum’s success and growth. Be responsible for the short- and long-term financial health of the MFA. Lead the strategic financial planning for the multi-year plan, annual budget, and forecasting; determine and set capital structure.Develop and implement procedures, processes, and disciplines fundamental to maintaining a solid and reliable control environment.Be responsible for the quality, accuracy, and timeliness of financial information provided to internal and external parties.Develop and lead a high-performing team in support of the museum’s goals. Mentor and develop employees. Facilitate the use of key performance indicators, metrics, and institution-wide financial analysis to inform decision making.Serve as a staff liaison to the Chairs and members of the budget and finance and audit and investment committees, including direct reporting and presentation.Direct activities involving endowment management and the museum’s relationships with lending institutions, and the financial community.Serve as the primary interface with banks, audit firm, and endowment Managers to ensure effective, efficient, quality service. CANDIDATE PROFILE IDEAL EXPERIENCE Senior Finance Experience Ten-plus years of experience in financial roles. Prior experience managing significant financial resources within a complex, not-for-profit organization is preferred. Strategic Partner to the Leadership Team and Board A strategic orientation with the ability to serve as a partner and trusted Advisor to the Director, the Chief Operating Officer (COO), other members of the leadership team and members of the Board of Trustees. Leading a Talented Team A collaborative leader with experience in management roles providing financial leadership and mentorship to a talented team. Commitment to Diversity, Equity, and Inclusion Commitment to, track record of and impact in diversity, equity and inclusion. Experience building and leading in an inclusive environment. Technical and Analytical Acumen Strong analytical skills and technical capability including experience with enterprise-wide systems. Outstanding Communication Skills Ability to communicate complex financial information clearly to diverse audiences, both orally and in writing. Strong Credentials Strong academic credentials required, including a preference for a CPA or CFA designation, an M.B.A., and/or related graduate degree(s). CRITICAL CAPABILITIES Financial Acumen The MFA seeks an accomplished finance leader with the highest integrity, trained in a rigorous environment, who can provide expert financial leadership by:Articulating and executing a financial strategy that optimizes the assets and supports the mission and programs of the museum.Continually assessing and improving financial processes and systems to ensure full support of the museum’s work, ensuring the flexibility and agility of business operations as the organization grows and transforms.Establishing practices and implementing systems to support high performance and accountability. Collaborating and Influencing In an organization where the financial function serves as a partner supporting the leadership team and the Board, the CFO will be a collaborative, communicative partner who will lead change through engagement, influence and a strong service orientation. They will:Be a finance leader who proactively sees opportunities and contributes to the development of systems, policies and structures to support a world class finance organization.Have effective interpersonal, presentation and communication skills as well as a demonstrated ability to engage openly and transparently across a diverse and engaged community.Have demonstrated success in an enterprise where an appreciation of the organization’s mission is central to all decision making. Leading People As an effective manager and motivator of teams, the CFO will develop ideas and solutions to drive the implementation of financial systems and services that support the strategic priorities of the museum. The CFO will:Be a leader who sets high standards and encourages collaboration for finance personnel across the organization.Be a confident manager and mentor with the ability to attract, develop and retain an effective and ambitious finance team. Set high standards and assess performance against a high bar of excellence.Advise and collaborate with senior leadership to articulate organizational priorities and implement change in accordance with the museum’s priorities. The MFA is an equal opportunity employer. The community and audience we serve is diverse, and we wish to foster that diversity in our workplace. Toward that end, the MFA does not discriminate against individuals in hiring, employment or promotion on the basis of race, religion, color, sex/gender, gender identity and gender expression, age, marital status, national origin, sexual orientation, citizenship, handicap or disability, veteran or military status, political belief, pregnancy, genetic information or any other characteristic protected by law.
Museum of Fine Arts
Finance and InsuranceView all jobs at Museum of Fine Arts