CHIEF FINANCIAL OFFICER
Acumen Fund exists to help end poverty by changing how the world addresses it. We do this in two ways: we invest patient capital to identify, strengthen and scale business models that effectively serve the poor, and we champion and spread this approach as an effective complement to traditional aid, which can create dependence, or pure market approaches, which can bypass the actual needs of the poor. We raise philanthropic capital and invest in enterprises that provide critical goods and services - health, housing, water, energy and agricultural inputs - at affordable prices to low-income customers in India, Pakistan and East Africa. Since 2001, Acumen Fund has grown from one office in New York City to a global organization with offices in India, Pakistan and Kenya. To date, we have invested $40 million in 44 enterprises that have impacted the lives of 30 million people. (More at: www.acumenfund.org).
Position Description
The Chief Financial Officer (CFO) is responsible for all financial and information technology matters of Acumen Fund, its foreign offices, and any affiliate organizations. The CFO will report to the Chief Management Officer and can be based in any Acumen office: New York, Dubai, Nairobi, Hyderabad or Karachi. The individual will have responsibility for working with the board and management committee to understand the strategic direction of the organization, provide high level, proactive financial and technology expertise, and lead both short term and long term financial-planning. As well, s/he will oversee all financial compliance both globally and in each country, recognizing a range of reporting standards for philanthropic, corporate and government contracts. The CFO needs to be able to adapt to a constantly changing environment and thrive in an autonomous role in a fast-paced organization while managing a small but global staff.
Specific responsibilities include the following:
Financial Management, Budgeting and Planning:
- Oversee cash flow planning and ensure availability of funds as needed
- Oversee cash, investment, and asset management
- Oversee financing strategies and activities, as well as banking relationships
- Develop and use forward-looking, predictive models, and activity-based financial analysis to provide insight into the organization's operations and business plans. This includes managing the annual budget process and linking budgets with programmatic goals
- Provide analysis of complex situations, prepare formal presentations, and present to senior management and Board of Directors on the financial health of the organization
- As appropriate, benchmark Acumen Fund against peers on key financial indicators
Accounting and Taxes:
- Oversee the accounting and finance staff to ensure proper maintenance of all accounting systems and function
- Develop and maintain appropriate internal controls and financial procedures
- Ensure timely, accurate, and useful financial and management reporting for all funders, including foundations, corporations, governments, and Acumen's Board of Directors
- Oversee the preparation and communication of monthly and annual financial statements
- Coordinate audits and proper filing of all tax returns
- In the United States, stay abreast of developments in non-profit audit best practices, state and federal laws regarding nonprofit operations
- For foreign offices, remain up to date on best practices for audits, financial reporting, tax matters, relevant laws and practices in the countries where Acumen Fund operates
- Develop planning process for IT needs on both short term and long term basis, including an annual IT systems review and audit that looks at current infrastructure and its strengths and weaknesses
- Develop appropriate capital and operating budgets for purchase, upgrades, maintenance, repairs, and support for effective IT services
- Lead and support IT initiatives to better serve Acumen Fund's stakeholders, including both hardware and software systems for communication, data, and online support
- Manage outsourced vendor to provide high quality affordable help desk services for Acumen Fund's New York office
- Coordinate IT initiatives across Acumen Fund for efficiency and effectiveness
- For all IT initiatives, provide supervision of staff from other functions involved in information technology support, purchases, and maintenance on those IT initiatives
- Represent the organization to donors, investors, financial institutions, auditors, foundations, public officials and others as may be appropriate
- Work directly with the Audit and Finance committees of the Board of Directors in communicating the financial status of the organization and its compliance with appropriate laws and practices
- Work closely with Acumen Fund's Business Development team to coordinate reporting and support with donor base and fund-raising initiatives
- Work with the management and leadership teams to promote broad understanding of Acumen's financial performance among key stakeholders (staff, advisors, and ambassadors); support the furtherance of Acumen's mission by bringing strategic thinking to the finance function
- Other projects and duties may be assigned as the organization grows and evolves
Qualifications
The CFO will be a seasoned leader with at least 10 years of broad finance experience; ideally, s/he will have experience managing finance for a complex non-profit with multiple funding sources and international operations. Experience managing an IT function is a plus. Bachelor's Degree required, CPA and/or MBA preferred. Additional qualifications include:
- Proven ability to perform complex analysis of financial data; ability to assess financially related business capabilities, identify gaps and recommend solutions; ability to understand and assess financial aspects of business projects; strong oral and written communications skills
- Demonstrated track record managing and leading in complex organizations, preferably with some non-profit experience; experience in the lead financial role of an institution; ideally, one that encompasses responsibilities beyond finance (for instance, IT or real estate)
- Advanced technical, organizational and project management skills, and knowledge of business management practices required
- Results-oriented, accountable, proactive leadership skills. Ability to lead and motivate others by example
- Strong understanding of strategy, ability to understand the "big picture" and organizational change and dynamics
- Able communicator who can effectively communicate financial concepts and data to program staff and provide leadership with a financial perspective
- Self-motivated "doer," who is able to work autonomously while leading a team and coordinating with senior management. The CFO must assume a sense of "ownership" of his/her functions, be responsive, have good follow-through, and move quickly and emphatically, using strong and sound judgment
- High level of self-confidence with direct, honest, respectful approach and ability to provide feedback
- Strong organizational skills with the ability to "multi-task" and to take issues and projects through to conclusion under deadline
- Excellent interpersonal and relationship-building skills
- Flexibility to work in a rapidly-changing, globally-oriented environment, with an appetite for and sensitivity to working with and in diverse cultures
- Demonstrated commitment to mission-related causes, either professionally or through volunteer activities is preferred
- Experience working in a global organization or environment is preferred
- Dedication to and enthusiasm for Acumen Fund's mission and business model, and respect for the organization's core values: generosity, accountability, humility, audacity, listening, leadership, and respect
Compensation
Acumen Fund offers a competitive compensation package, including full benefits, commensurate with experience.
Location
The position will be recruited from New York but may be based in any of Acumen Fund's regional offices in New York, Nairobi, Hyderabad or Karachi. Frequent travel to these offices will be required.
To Apply
Send a cover letter and resume to financerole@acumenfund.org. Please include the job title "Chief Financial Officer" in the subject line.
