Chief Financial Officer

This organization empowers entrepreneurs through a range of programs and services, including access to capital, mentorship, business education, and policy advocacy. We create spaces for Black businesses to incubate and thrive. We position ourselves in key locations and events and we leverage our voice to advance our ambitious goals for systems change on behalf of Black entrepreneurs. We unabashedly acknowledge the centuries of government sponsored oppression and intentional policies and structures that have created a widening racial wealth gap.

The mission is to help close the racial wealth gap by developing programs and advocating for policies that result in profitable and sustainable Black-owned businesses that are connected to public and private economic opportunities, while building trusted relationships.

Purpose of the role

The Chief Financial Officer (CFO) will play a pivotal role in driving the financial success of the organization. As the CFO, you will be responsible for overseeing all aspects of our financial operations, including financial reporting, budgeting, forecasting, risk management, and investor relations. You will be a strategic partner to the CEO and executive team, providing insightful financial analysis and recommendations to support our growth and goals.

Core Job Responsibilities

• Strategic Financial Planning: Develop financial strategies, models, and forecasts to enable growth, program expansion, and mission-driven impact.
• Financial Reporting and Analysis: Provide timely and accurate reporting for the board, grantors, and partners. Analyze financial performance to guide decision-making and resource allocation.
• Transparency & Accountability: Adhere to the highest ethical standards, and ensure strong internal controls to safeguard our organization's resources.
• Budget Development and Management: Create and oversee organizational budgets to ensure prudent use of funds in alignment with goals.
• Compliance and Risk Management: Establish and uphold robust internal controls, ensuring compliance with all regulations, grant requirements, and financial reporting standards.
• Grant Management: Expertise in managing grant funds, ensuring compliance, accurate tracking, and timely reporting.
• Team Leadership: Build and mentor a high-performing accounting and finance team, fostering a culture of integrity and accountability within the organization.

Qualifications and Abilities

• Experience: Minimum of five (5) years in senior-level financial leadership, ideally within the nonprofit sector.
• Mission Alignment: Passion mission of closing the racial wealth gap and empowering Black businesses.
• Entrepreneurial Mindset: Comfort operating in a dynamic environment with a demonstrated understanding of the unique challenges faced by entrepreneurs and Black-owned businesses.
• Technical Expertise: Strong knowledge of nonprofit accounting practices, fund accounting, grant compliance, and financial regulations.
• Leadership and Communication: Excellent communication, collaboration, and interpersonal skills, including the ability to effectively interact with the CEO, board members, and diverse stakeholder groups.
• Vision Alignment: Strong alignment with our values of transparency, integrity, and putting the needs of our stakeholders first.
• Results Driven: Proven track record of success in driving financial performance and growth.
• Financial Analytic Proficiency: Proficient in financial modeling and analysis tools.

Additional Assets:

• Professional Certification: Holding a CPA or other relevant professional certification (e.g., CMA, CGMA)
• Grant Management Expertise: Experience with grant-funded programs and reporting
• Local Market Knowledge: Familiarity with the Metro Detroit business landscape

Reports to: CEO