Vice President of Finance

General Summary:

The Vice President of Finance oversees all aspects of YoungArts’ finances and operations. Operations includes IT and facilities management (engineering, custodial, landscaping, security, and general property management). Reporting to the Executive Director and serving as a key member of senior leadership, the Vice President will be responsible for advancing YoungArts’ approach to financial and operational management and contributing to YoungArts’ overall strategic direction. In addition, this person will be responsible for financial projections and forecasts, performance and reporting, banking and insurance, compliance and accounting and will ensure that accurate and useful financial reporting and modelling guides decision-making. The Vice President will be responsible for ensuring that best processes and policies are in place for both finance and operations. The Vice President will manage a team of eight staff and oversee relationships with a number of external vendors and consultants.

This is a great opportunity for a proven leader with strong analytic, finance, and operational skills to contribute to a mission-driven organization in the arts.

Key Responsibilities: (Performs other duties as assigned)

Strategy, Vision and Leadership

• Advise the ED and other key members of senior management on financial planning, budgeting, cash flow, investment priorities, and policy matters.
• Serve as the management liaison to the board and finance, investment, and audit committees; effectively communicate and present critical financial matters at select board of trustees and committee meetings.
• Contribute to the development of strategic goals and objectives as well as the overall management of the organization.
• Maintain continuous lines of communication, keeping the ED informed of all critical financial and operational issues.
• Represent the organization externally, as appropriate, particularly in banking and negotiations.
• Play a strong strategic role in designing and implementing processes, frameworks, systems and reporting that allow us to capture and utilize timely and accurate data across the business to make better decisions.
• Contribute to key strategic decisions, including how and whether to pursue opportunities to extend YoungArts’ work, helping to chart and model out potential economic models for different options.
• Demonstrate a strong commitment to diversity, equity, and inclusion, both in interactions internally and in approaches to processes such as vendor selection.

Team Development/Leadership

• Oversee, direct, and organize the work of the finance, IT, and facilities management teams and vendors.
• Promote a culture of high performance and continuous improvement that values learning and a commitment to quality.
• Ensure staff members receive timely and appropriate training and development as it relates to finance and operations practices.
• Establish and monitor staff performance and development goals, assign accountabilities, set objectives, establish priorities, conduct annual performance appraisals, and administer salary adjustments.
• Mentor and develop staff using a supportive and collaborative approach: monitor and evaluate results.

Operations

• Working to continually assess and upgrade YoungArts’ approach to internal controls, compliance with accounting standards, and other relevant finance policies and practices.
• Plan, coordinate, and execute the annual budget process.
• Ensure that YoungArts is adhering to the strategic plan, delivering status reports to the ED and board.
• Provide analytical support to the internal management team including development of internal management reporting capabilities.
• Improve administrative and accounting services such as treasury management, grants payment processing, accounts payable, and purchasing.

• Be responsible for preparing departmental budgets/forecasts and reviewing budget to actual performance. Prepare balance sheet, profit and loss, cash flow and supporting schedules in line with GAAP standards.
• Preparation of periodic (monthly, quarterly and annual) financial and operating reports including comparisons with budget and analysis of variances. Complete the monthly closing of internal financials, including analysis of bank accounts, A/R, A/P and accruals along with preparation of WIP schedule, etc.
• Work closely with the Advancement department to support contract negotiations and revenue.
• Have oversight of collections, accounts receivable, payable, general ledger, and banking.
• Manage outside auditors, tax professionals, corporate tax planning, payments and record keeping.
• Manage corporate liability, property and workers comp insurance policies.
• Directing information technology for the organization, overseeing relationship with IT vendors.
• Work in collaboration with Human Resources to ensure accurate payroll administration and 401(k) account management.
• Work closely with ED and legal support for contract review and management.