Chief Financial Officer

Overview --------

Join the NJEDA and help lead New Jersey to sustainable economic growth, fostering equitable opportunities and vibrant communities. We offer hybrid work, a supportive culture, and robust benefits, including health insurance, retirement plans, and extensive wellness programs. Make a tangible impact and shape New Jerseys future with innovative economic development at NJEDA.

Job Summary ------------

The Chief Financial Officer (CFO) has overall responsibility for strategic planning and implementation of the financial sustainability of the NJEDA. The CFO also develops an annual fiscal plan to support the EDAs operating plan and prepares financial projections that are presented to Executive Leadership, Audit Committee, and Board of Directors for consideration and approval.

Job Overview

The CFO oversees the finance organization which includes two departments: Accounting & Financial Reporting and Finance. Responsible for all aspects of financial accounting, reporting, budgeting, financial operations, FP&A, treasury services, investment management, capital debt financing, state appropriation management, external reporting, and external audit.

Key Responsibilities

• Develop and implement financial management strategies and practices aligned with the broader organizational strategy and growth objectives
• Provide finance support to strategic initiatives and organizational needs
• Continually assess financial strategies and policies to ensure they remain compliant with regulatory, operational, and legal changes
• Enable cross-functional division and department-level decision making through relevant financial reporting and informative dashboards
• Partner with NJ Treasury - Office of Management & Budget and NJEDA executive management to coordinate annual budget appropriation requests and provide updates on existing funding status, spending, and outcomes
• Oversee the annual audit and ongoing controls of the organization
• Manage communications and interaction with external auditors and oversee the production of financial statements and tax documents
• Manage key contracts with external partners for auditing, actuarial, investment, and banking services
• Responsible for maintaining the Audit Committee Charter and ensuring compliance with its requirements
• Lead, attract, manage, motivate, develop, and retain high performing talent/teams
• Promote teamwork and communication to encourage an interactive, cooperative, collaborative, and customer-focused work environment among divisions, staff, and external customers
• Create succession and development plans for all finance staff to ensure continuity of service and encourage employee growth

Projects

• Serve as inter-departmental team leader/executive sponsor for financial driven special projects, and contribute to the solution of management, legal, or financial issues from an institutional perspective
• Oversee management of financial systems, including the periodic update, enhancement, or replacement of such systems
• Drive continuous improvement of the finance function with the assistance of project managers and finance staff
• Partner with other business units that manage systems that integrate with or have dependencies on the financial systems
• Evaluate current and proposed enhancements for financial review programs to support the management of NJEDA projects by performing:
• Cash flow modeling
• Financial information review
• Operating expenditure and cost allocation review
• Contract administration
• Federal and State financial compliance
• Review and processing of reimbursement requests

Goals and Objectives

• Partner with NJEDA business units to monitor progression and reporting related to the revenue goals and expense targets of the annual and long-term strategic plans
• Provide expert consultation with executive management and product owners on appropriateness of finance fee revenue levels to support ongoing operations to encourage NJEDA's continued financial sustainability
• Collaboration and Cross-Divisional Interaction:
• Ensure that revenue streams are budgeted, monitored, and tracked by creating and regularly reconciling annual business plans with primary revenue generators, the principal areas of earned income, and government support
• Partner with other senior EDA executives to manage, report, and analyze the institutions investment portfolio, investment policy & OPEB trust
• Identify, review, and report on areas of potential institutional risk and propose mitigations

Reporting Structure

• The CFO reports to the Chief Administrative Officer and acts in an advisory capacity to the CEO and other members of the Executive Leadership Team
• This position has general authority to review, approve, or reject cost commitments and financial transactions that are not supported by the annual fiscal plan
• The leaders of the Accounting & Financial Reporting and Finance departments report to the CFO
• Must complete annual self-assessment as required
• Performs other duties and special projects, as assigned

Qualifications

### Technical Skills

• Working knowledge of both GAAP, GASB, and financial modeling with a commitment to updating and enhancing professional and technical capabilities to always remain "current" in all regulatory and financial reporting requirements
• Must possess a thorough knowledge of budgeting, analysis, financial modeling, cash and investment management, financial accounting, and financial systems/data, with demonstrated experience in planning, implementing, and testing new and upgraded solutions in a cloud-based, client-server, and PC-based environment
• Knowledge of general ledger systems and modules, including accounts payable, accounts receivable, fixed assets, and other sub-ledger systems; financial reporting software; and financial workflows
• Knowledge of loan management and banking payment systems is helpful and preferred

### Soft Skills

• Business partner who demonstrates ability to work in a collegial, collaborative, and forward-thinking organization
• Ability to prioritize workload, must be highly organized, detail-oriented, handle various tasks simultaneously and work independently within limited time constraints with little or no supervision
• Strong listening skills, empathy, patience and the ability to lead through influence and by example
• Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with various business professionals and NJEDA staff
• Must be able to maintain confidentiality and deal effectively and diplomatically with various business professionals and NJEDA staff
• Demonstrate respectful behavior and promotes teamwork to encourage an interactive, cooperative, collaborative, and customer-focused work environment among divisions, NJEDA staff, and external customers

### Talent Management

• Acquires, develops, and manages high-performing teams
• Cross-Functional Collaboration: Partners effectively across boundaries and functions
• Vision-Driven Results: Drives a clear vision and strategic thinking for achieving results
• Innovation and Change: Encourages new ideas, opportunities for change, and motivates team members

### Certifications

• Certified Public Accountant (CPA) is preferred

### Experience

• 10+ years of progressive finance experience in a governmental, financial services, nonprofit, or similar environment
• 5 years management/supervisory experience, including 3 years as a CFO
• NJ State government experience preferred
• Proficiency in managing government grants and appropriations
• Strong early career finance training and foundational experience in a best-in-class finance organization (including public accounting firms and/or respected corporate finance training programs) preferred

### Education

• BS in Accounting/Finance/Economics required; MBA is highly preferred

### Software/Tools Proficiency

• Advanced Microsoft Excel proficiency
• NJEDA utilizes Microsoft as its core application platform and proficiency in the Microsoft Office Suite is preferred

### Additional Information

• Minimal physical demands and ability to work outside of normal business hours
• Travel expected when necessary for business operations
• Staff are required to possess a drivers license valid in New Jersey only if the operation of a vehicle, rather than employee mobility, is necessary to perform the essentials duties of the position.