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Chief Financial Officer, Prosperity Now

Washington, DC
Prosperity Now
Chief Financial Officer
Position Description
About Prosperity Now
Prosperity Now is a national nonprofit based in Washington, DC, dedicated to expanding economic opportunity for low- and moderate- income families and communities in the United States. Since 1979, we have helped make it possible for millions of people, especially people of color and those of limited incomes, to achieve financial security, stability and, ultimately, prosperity. We offer a unique combination of scalable practical solutions, in-depth research, and proven policy solutions, all aimed at building wealth for those who need it most.
Position Summary
Prosperity Now’s Chief Financial Officer (CFO) is a newly redesigned leadership position responsible for all aspects of the organization’s financial planning, budgeting, analysis, reporting, and internal controls. Reporting to and serving as a key advisor to the CEO, the CFO is a member of the executive leadership team and plays an important leadership role across the organization, including the development and implementation of the strategic plan and model for financial sustainability. In addition, the CFO leads the day-to-day administration of the finance, HR, and IT teams, manages Board and staff relationships, and represents Prosperity Now with vendors and other external stakeholders. The ideal candidate will bring at least 10 years of experience directing the finances of a large, complex nonprofit. In addition, s/he must have demonstrated experience managing a team, working collaboratively across functions, and engaging with various stakeholders, including funders and the Board. The top candidate will have high emotional intelligence, exceptional interpersonal communication skills, and a proven passion for Prosperity Now’s mission.
Financial Systems, Risk Management, and Audit
  • Oversee the organization’s overall financial activity and systems, finance-related activities including accounting, internal budgeting/financial reporting, audit, tax, and treasury services adhering to accounting, legal, and professional standards.
  • Deploy the principles, methods, and tools used for risk assessment and mitigation, including evaluation of failures and their consequences. Make well-informed, effective, and timely decisions. Anticipate and mitigate risks and set strategies for how the organization should allocate its resources.
  • Maintain and implement necessary accounting policies, procedures, and practices and ensure that all team members adhere to such criteria. Ensure these align with best practices, ethical principles, and meet established standards for internal controls and legal compliance requirements.
  • Advise the CEO regarding opportunities to continuously improve the organization’s fiscal function and performance, and on contracts and other matters requiring legal counsel.
Planning, Budgeting and Reporting
  • Prepare annual budget and financial targets for the strategic plan and support the CEO in financial and strategic planning processes.
  • Work collaboratively with leaders across the organization to create and manage budgets and provide support and coaching as needed.
  • Oversee the process and creation of required reports throughout the fiscal year. Present findings to the President/CEO, leadership team, and Board.
Business Development and Investments
  • Identify, evaluate, and develop or invest in products and services that generate unrestricted income.
  • Know the principles and methods of capital investment analysis or business case analysis, including ROI analysis.
  • Understand lifecycle costs, application of cost models, and evaluation of cost realism.  Apply the principles and methods of cost-benefit analysis, including the time value of money, presenting value concepts, and quantifying tangible and intangible benefits.
  • Oversee an $8m investment portfolio.
Operations, Human Resources, and IT
  • Own the vision and accountability for the annual performance of the organization’s Human Resources, IT, and Administrative staff promoting customer service, systems, and processes that reflect best practices and enable Prosperity Now to deliver on its mission.
  • Ensure the delivery of effective human resource management policies, programs, practices and initiatives aligned with organizational and strategic priorities. Ensure high quality HR functions including recruitment, benefits administration, performance management, professional development, compensation, employee relations, records management and fair employment practices compliance. Develop a robust succession plan for mission-critical positions to ensure organizational stability and sustainability.
  • Oversee the IT function and ensure the ongoing maintenance and updating of systems and architecture, including hardware, networking, and applications, to effectively serve the internal and mission-facing needs of the organization.  Initiate the use of innovative, proactive integration of technology solutions to support of program imperatives.
  • Oversee the organization’s risk management and compliance responsibilities, implementing policies and systems to ensure the organization adheres to all relevant regulations
  • Ensure the necessary technology, security protocols, and office infrastructure are in place to support a growing organization
Experience, Skills, and Personal Attributes
  • Demonstrated commitment to expanding economic opportunity for low- and moderate- income families and communities in the United States.
  • 10+ years of executive management experience overseeing all finance and accounting functions at a large, complex nonprofit organization.
  • Skilled in analyzing and interpreting financial data and developing relevant and timely reports and presentations for various stakeholders (e.g., Board, staff, funders).
  • Experience developing and implementing a sustainable financial model, collaborating with the CFO and head of development.
  • Experience managing, developing, and coaching teams; prioritizes building authentic and respectful relationships with all colleagues.
  • A strategic, analytical, and tactical thinker, with a demonstrated capacity to successfully problem solve, plan, and facilitate growth in a complex environment.
  • Confidence and capability to adapt and lead in a fast-paced, changing environment while also navigating ambiguity and change.
  • Effective and persuasive communicator, both oral and written, with a high level of emotional intelligence.
  • Unquestionable personal and professional integrity, humility, positive demeanor, and a sense of humor.
Prosperity Now is an Equal Opportunity Employer, where we encourage candidates of all ages, color, ethnic background, country of origin, religion, disability status, gender, sexual orientation, and gender identity to apply.
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