Chief Financial Officer (CFO)

Scion Executive Search has been retained to conduct the search for the incoming Chief Financial Officer (CFO) of the Critical Path Institute, a nonprofit whose mission is to catalyze the development of new approaches which advance medical innovation and regulatory science to accelerate the path to a healthier world! Reporting directly to the Chief Executive Officer, this executive leadership opportunity is available for immediate hire and works full-time from the organization’s headquarters in Tucson, Arizona.

ABOUT CRITICAL PATH INSTITUTE:

Critical Path Institute (C-Path) is a nonprofit, public-private partnership with the Food and Drug Administration (FDA) which was created under the auspices of the FDA’s Critical Path Initiative program in 2005.  C-Path’s aim is to accelerate the pace and reduce the costs of medical product development through the creation of new data standards, measurement standards, and methods standards that aid in the scientific evaluation of the efficacy and safety of new therapies. These pre-competitive standards and approaches have been termed “drug development tools” (DDTs) by the FDA, which established a process for official review and confirmation of their validity for a given context of use.

As an international leader in forming collaborations, C-Path has established numerous consortia that currently include more than 1,600 scientists from government and regulatory agencies, academia, patient organizations, disease foundations, and dozens of pharmaceutical and biotech companies around the world!

POSITION OVERVIEW:

C-Path continues to grow and evolve as an industry leader and as a result of this growth (and tremendous success), the organization is eager to welcome their first CFO! C-Path is excited for the future and with this excitement comes the need for adaptable, communicative, and energetic executive finance leadership.

C-Path seeks a true partner to the Chief Executive Officer as well as the Board (and subcommittees) who is driven by the mission of the organization as well as its meaningful international impact. The Chief Financial Officer will direct and oversee the financial activities of the organization in the US and Europe, as well as champion the preparation of financial reports and summaries, develop financial budgets and forecasts, and support the general strategic and operational objectives of the organization overall. She/He will have a key role in providing strategic guidance from a financial perspective.

This highly impactful role is best suited for a candidate who is comfortable with public speaking (presenting reports, budgets, and outcomes), is adept at building consensus (internally among leadership as well as externally with key stakeholders) and possesses confidence as well as acute awareness regarding the need for diplomacy and tact when presenting strategic financial paths/options available.

RESPONSIBILTY OVERVIEW:

• Lead/provide insight on the management of accounting, audits, budgeting, and forecasting, recommending, and implementing financial policies and procedures for the organization.
• Work alongside other C-Suite team members and take full ownership of C-Path related organizational financial matters; serve as internal consultant and sounding board to the Executive Leadership Team and Board, making recommendations/suggestions for proactive strategies (related to programs, policies, and processes) and assisting in change/idea implementation.
• Drive best financial practices within the organization by publicizing standard operating procedures, keeping the Executive Leadership Team, Board, and staff current on financial status and by generally serving as a point of reference for all growth plans and projects within the organization.
• Direct and coordinate financial affairs, including all internal control, reporting, audit (e.g., financial audits in compliance with non-profit GAAP accounting standards and single audit reports in compliance with U.S. Government Accounting Standards and Uniform Guidance) and tax functions/preparations (e.g., 990 tax filings), according to financial principles and government regulations.
• Utilize/harness technology to optimize all reporting and analytical functions.
• Extrapolate the implications of current trends and operating results to recommend modifications.
• Develop, direct, and provide financial analysis of the organization by evaluating trends, studying revenue opportunities, establishing critical measurements, accumulating resources, and resolving challenges.
• Review short and long-term goals in consideration of existing and projected financial resource availability; plan financial operational strategies by forecasting capital, facilities, and staff requirements; identifying monetary resources; and developing action plans in partnership with Executive Leadership Team members.
• Monitor the operational cost effectiveness and provide recommendations for optimization of funding resources to ensure long term sustainable growth for the organization; analyze and make recommendations on the potential investment of organizational reserves; identify and harness available resources to maximize revenue streams.
• Direct and manage the risk management process of the organization.
• Assure proper financial controls are in place and operational, and financial oversight is implemented for grants, contracts, and other key agreements in the organization; produce timely reports (weekly, monthly, quarterly, and annually) to monitor, evaluate and optimize financial health, cashflow and liquidity of the organization.
• Oversee the 403(b) retirement plan and serve on the 403(b) Committee.
• Build & maintain relationships with external stakeholders (banks, donors, vendors, outside consultants and others as needed) to closely monitor the organization’s major expenditures and sources of revenue.
• Serve as Treasurer, reporting to the Board of Directors on the finances of the organization, ensuring board members understand the full financial picture of C-Path.
• Coordinate with Audit, Finance, and Risk Committee for the annual audit of the organization’s financial statements.
• Ensure that the organization meets critical regulatory & legal compliance requirements as well as established benchmarks.
• Direct oversight of a committed, highly capable, and talented Finance Team of 4.

QUALIFICATIONS:

• Master’s degree in Accounting and Finance, Business Administration, or related field.
• 10+ years of progressive experience in accounting and finance with 5+ years of executive/senior-level management experience.
• Domestic and international experience (with an emphasis on Europe), highly preferred.
• Deep knowledge of all aspects of generally accepted accounting principles (GAAP).
• Previous/current experience supporting organizations with rapidly evolving, complex revenue streams.
• Expertise in budget development and reporting, project, and grant management (federal and grantor funds), as well as internal controls.
• Proficiency in complex financial reporting as well as oversight including overseeing consolidation of financial statements where operating subsidiaries exist in Europe and in the future elsewhere.
• Demonstrated skill in building, motivating, and retaining high-performance teams.
• Experience with maintaining compliance, and working with external auditors as well as regulatory oversight.
• Advanced proficiency in MS Office (Excel, Word, & Outlook) and financial reporting software (Financial Edge NXT).
• Strong organizational, management, communication, and analytical skills, as well as unwavering attention to detail.
• Firm mastery of fiscal management principles and processes including resource management, needs assessment, as well as best practices development and implementation.
• Experience with change leadership and change management.
• Ability to travel internationally (~25%)

COMPENSATION AND BENEFITS:

In addition to a strong base salary of $200,000 - $235,000 (DOE), this exceptional role also receives access to a comprehensive benefits package which includes employee medical, dental, and vision insurance (employee coverage provided at 100% by employer), life and AD&D insurance, HSA, FSA, short term and long term disability, 403(b) with 3% employer contribution and up to 5% match as well as access to an Employee Assistance Program, Travel Assistance Program, and pet insurance!

ABOUT OUR FIRM:

Scion Executive Search is a retained executive search firm connecting executive nonprofit leadership to nonprofit organizations and foundations across the country. Born out of the nonprofit sector, we provide expert search strategies and leadership for your organization. Our executive candidates are true agents for change, and we are experts at matching their talents, motivations, and passions to your organization’s mission. Scion Executive Search has led hundreds of successful executive searches. Information about our firm’s history and focus is available online.

Scion is an equal opportunity employer and service provider committed to not discriminate on the basis of race, religion, gender, gender identity, national origin, citizenship status, sexual orientation, disability, political affiliation or belief, or any other protected class. We are committed to the principals of Equal Opportunity Employment and are dedicated to making employment decisions based on merit and value, for ourselves, our client companies, and for the candidates we represent.

Critical Path Institute has retained the services of Scion Executive Search, a national executive search firm specializing in mission-driven organization recruitment, to assist in conducting this important search. For immediate consideration please apply with your resume and cover letter, formatted in Microsoft Word, via: https://www.scionstaffing.com/job/7323

Critical Path Institute is an Equal Opportunity Employer and encourages diversity and equity in all facets of the organization’s work. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status, or any other protected class.