Chief Financial Officer- Association for Individual Development

About Association for Individual Development

Since 1961, the Association for Individual Development (AID) has served thousands of children and adults with developmental, intellectual, physical and/or mental health challenges in the greater Fox Valley area and seven other western suburban counties outside of Chicago, IL. Our team of over 600 employees provides services within and through 70 buildings (including affordable housing apartments, single family homes, and programmatic/administrative buildings). In 2023, we served over 5400 individuals.

Life-enriching services that promote the highest level of independence and community immersion include autism programs, permanent supportive housing, in-home support, developmental and vocational training, job placement and on-the-job coaching services, crisis intervention, victims services, mental health treatment, behavioral intervention, health and wellness, community education, and advocacy.

To learn more, please visit: https://www.aidcares.org/

Position Summary

AID seeks a passionate and growth-minded Chief Financial Officer to assume a vital role in the continued strategic growth of a community-centered organization. This leader will have demonstrable experience with navigating multiple complex funding streams and managing cash flow within a large, multifaceted organization. Reporting to and partnering with the Chief Executive Officer (CEO), the CFO will be responsible for the overall management of the agency’s $50M+ budget, development and implementation of the organization’s financial strategy, and oversight of the finance and resource development teams.

The CFO will have day-to-day responsibility for building, implementing, and managing the financial activities, serve as a thought-leader on the leadership team, and create financial policies and infrastructure to fit the needs of a growing organization.  With an eye towards process improvements and scaling, the CFO will provide strategic oversight on internal systems and innovative solutions for large capital expenditures.  Financial responsibilities include oversight over the external accounting firm, management of accounting operations and investments, financial reporting and analysis, budgeting and forecasting, compliance and risk management, audit coordination, and capital expenditures.

The CFO will be a collaborative leader who can work closely with the CEO, peers, direct reports, board members, auditors, external consultants, and other internal stakeholders.  This position will manage a team of 12 internal employees and external consultants.

Key Responsibilities

Organizational & Thought Leadership

• Be a strategic advisor to the CEO and Executive Leadership Team on all financial matters and all growth plans and projects within AID, making recommendations and suggesting proactive strategies to keep the organization financially sound.
• Actively participate in all internal planning regarding any AID program expansion and capital acquisitions to ensure alignment with mission and impact with financial projections.
• Conceptualize and analyze problems and solutions in a proactive, constructive, and creative manner that results in improved performance across the organization.
• Directly oversee Finance, Grant Writing, and Resource Development teams.

Financial Acumen & Oversight

• Oversee all aspects of financial management, including directing external outsourced accounting firm, supervising office finance team, and ensuring accurate and timely monthly financial statements.
• Present clear, relevant, and actionable financial information across the organization and to the CEO and Executive team, Board, and Finance Committee.
• Develop and analyze forecasting capabilities that enable senior leadership to make data-driven, forward-thinking decisions and anticipate financial trends.
• Oversee all cash management, investment policies, financing options for major capital expenditures, risk management, insurance renewal, reporting and compliance, regulatory and audit requirements.
• Financial Management of affordable housing developments, including HUD multifamily projects (ie 811), Illinois Housing Development Authority (IHDA) and other state and federal resources.
• Institute sound internal control policies and procedures, assuring timely, accurate production of independent audit reports and clean management letters.
• Provide strategic guidance to evaluate, eliminate, and/or improve manual or low -tech procedures/processes that impede efficiency.

 Collaborative & Trust Building Leader

• Foster trust and collaboration among team members and possess the ability to create buy-in with varied stakeholder groups, managing through change with flexibility.
• Provide guidance and direction to engage and support team members at all levels while ensuring a culture of accountability.
• Train and support the finance department in the use of Finance and Fundraising software.

Desired Qualifications

The Chief Financial Officer will be innovative and solution-oriented and will bring a demonstrated track record of leading the financial and administrative strategy in a large, complex organization. The CFO will be highly collaborative and will set priorities decisively, delegate responsibilities, assure accountability, and allocate resources to produce results.

While it’s understood that no single candidate will bring every single competency, strong candidates will offer the following skills, characteristics, and experiences:

• Minimum bachelor’s degree in business, Management, Accounting, or Finance (MBA preferred and/or CPA strongly preferred).
• Minimum of 10 years of progressive advancement in fiscal programmatic responsibility. At least 5 years' senior management leadership experience, preferably within a nonprofit organization.
• Deep knowledge/expertise with contract management and state/federal health and human services funding streams (ie HUD, DHS, DOT, MCO, HFS, etc)
• Demonstrated track record of leading an organization with annual budget of $50M
• Experience with working with outsourced accounting firm, external auditors, compliance, and regulatory oversight.
• Resilient in solving unexpected problems as they arise while considering liability, precedence, financial implications, and other possible future impact to the organization.
• Strong motivational and staff leadership abilities.
• Excellent written and oral communication skills; experience in effectively communicating key information both verbally and in writing to CEO, Board, peers, and direct reports.
• Proficient in technology (ie Financial Edge and Razors Edge) and experience in integrating IT/Systems to improve productivity and accuracy.

Location 

Based in Elgin, IL, we primarily work on site. Our Executive team works from our multiple office locations throughout our current area of impact to support our community engagement, networking, and fundraising events. Upon completion of your onboarding period, you will have the option of a more flexible schedule.

Compensation and Benefits

Salary is based on a variety of factors including, but not limited to, skill set level and years of previous/applicable experience. Salary range for this role is between $125,000- $150,000, with a generous benefits package, which includes health, dental, vision, retirement plan with employer contributions, life insurance, short term and long-term disability plan, and competitive PTO policy.

Maneva Group, a woman and minority owned national executive search firm that specializes in mission-driven searches, has been exclusively retained for this engagement. To express interest in this role, please submit your resume and cover letter to this LINK. All inquiries and discussions will be considered strictly confidential. This position is available immediately; we will accept and review new applications until the position is filled.