Vice President of Finance

Chicago, IL, United States

Description

SUMMARY

The Vice President of Finance will serve as the Chief Financial Officer (CFO) and Corporate Treasurer of The Evangelical Covenant Church (Covenant) denomination. The Vice President of Finance is responsible for strategic management and oversight of financial assets, planning and implementing proactive financial strategies, and leading the formation and implementation of financial policy. This executive leader exercises stewardship of all financial matters of the Covenant, as well as providing oversight of accounting, benefits, pension/retirement plans, insurance, risk management and financial services/resources to ensure viability and sustainability of all mission strategies and efforts. This role serves as an advisory role to other executive leaders on financial aspects of Covenant mission priorities and services. The Vice President of Finance will report to the President, is a member of the executive leadership team, serves as the Director of Pensions, and sits on various councils, boards, and committees as is required. This position is located in Chicago, Illinois.

ESSENTIAL FUNCTIONS

Financial Responsibilities:

· Oversees all Covenant accounts and finances, ensuring policies and procedures are in compliance with appropriate GAAP standards and regulatory requirements.

· Oversees an inclusive process to establish an annual operating budget, then, prepares, presents and manages budget

· Provides staff training in the areas of budget development, budget management, fiscal accountability, and finance procedures

· Leads revenue and expense forecasting process

· Oversees internal financial controls, regulatory compliance, financial reporting and audits

· Serves as authorized signer on all Covenant financial matters including financials, vendors, contractors and other documents and contracts as required of the role

· Primary relational liaison with banks, investment institutions, tax and audit firm, and other external providers for purposes of financial interests of the denomination

· Performs financial modeling for larger scale initiatives and long-range planning and develops proforma modeling of proposed and existing missional enterprises

· Formulates risk analysis and management strategy

· Manages portfolio of property/casualty insurance coverages

· Provides oversight to the benefit, pension and retirement plans

· Oversees capital investments

· Develops and manages prudent financial policies and practices

· Works closely with, and is a member of, the Covenant Executive Board’s Finance Committee.

• Participates on the Boards or Financial Committees of Covenant Ministries of Benevolence, North Park University, and Covenant Trust Company at the invitation and in coordination with the President.

Leadership Responsibilities:

· As a member of the executive leadership team, collaborates with the president and other leaders to support and provide leadership to the overall mission of the Covenant

· Provides effective leadership to the finance team in the form of setting direction, goals, development support, performance expectations, assessment and feedback

· Strong contributor and advisor to Covenant affiliates, regional conferences, local congregations, global ministries, and boards

· Forms collaborative relationships with Presidents and CFOs of Covenant entities and affiliates

· Ability to demonstrate competence in voice and presence at the national annual meeting as well as other events/forums

· Demonstrates leadership that models an awareness, understanding and engagement of culturally diverse perspectives

· Serves as a proactive sounding board for all senior leadership

· Performs other duties as assigned by the President and Executive Board of the Covenant

Requirements

REQUIRED SKILLS, ABILITIES AND CHARACTERISTICS

· Demonstrates a personal commitment to Christian faith

· Willingness to fully support and align the mission and ministry of the Evangelical Covenant Church at the denominational, regional conference and local congregational levels, as well as affiliated entities and ministries

· Must be a member of an Evangelical Covenant Church or willing to become a member

· Demonstrates cultural awareness, sensitivity and respect for diversity

· Strong organizational and implementation skills

· Excellent communication skills and confidence

· Ability to achieve results and meet deadlines

· Demonstrates strong leadership, judgment and problem-solving skills

· Able to work effectively with individuals at all levels of the organization

· Effective contributor to senior management/leadership staff of organization

· Self-starter, self-directed and discerns appropriate balance of independence and collaboration

· Can multi-task well and demonstrates a calm demeanor under pressure

· Navigates difficult situations with integrity and professionalism

· Ability to build and maintain an effective and cohesive team

· Proficiency and comfort with various forms of technology, use of Microsoft products, database and accounting software, and other relevant software and reporting programs

REQUIRED EDUCATION AND EXPERIENCE

· Master's degree in business administration, Finance or Investment Management. CPA preferred.

· Ten (10)+ years of related financial and management experience (non-profit strongly preferred), including budget preparation, financial reporting, investment management, fund accounting, and management of budget.

· Experience or knowledge in pensions, benefits, and risk management.

Non-profit leadership experience a plus

Environment Conditions

Able to work well in a professional office setting, as well as remotely using secure communications. Occasional travel. Must be versatile and able to work for prolong segments sitting or standing. Must engage frequently with office tools and equipment, such as: computer, copier, phone, technology-based equipment, printers, etc. Must be able to occasionally lift or move items, less than 35lbs.

SPECIFICS AS OUTLINED IN THE COVENANT BYLAWS AND CONSTITUTION; The Vice President of Finance will respond to:

Section 6.1. Officers. The Covenant has the following officers: a president, a corporate secretary, a corporate treasurer, an assistant corporate secretary, and an assistant corporate treasurer.

Section 6.5. The Corporate Treasurer. The corporate treasurer shall perform all the duties of a corporate treasurer required by law, the duties of the corporate treasurer specified in this Constitution and Bylaws, the duties customarily performed by a corporate treasurer, and any other duties assigned by the Executive Board that are consistent with this Constitution and Bylaws.

Section 6.9. Terms of Office of Officers Other Than the President . The term of the corporate secretary, the corporate treasurer, the assistant corporate secretary, and the assistant corporate treasurer is indefinite in length but shall terminate not later than the day before the effective date of the Executive Board’s appointment of a successor to that position.

Section 10.2.a. through h. Vice Presidents.

Vice presidents shall be appointed by the president with concurrence of the Executive Board to give leadership to the organization. Each vice president is accountable for outcomes related to the mission of the Covenant, including the implementation of decisions and policies of the Annual Meeting and the Executive Board of the Covenant.

A vice president shall lead an area by proposing and implementing strategies, proposing and

managing income and expense and working in collaboration with the president to propose and hire team members.

A vice president shall report to and be accountable to the president.

A vice president shall contribute to the overall mission of the Covenant by serving as an advisor to the Executive Board.

The corporate treasurer shall also hold the office of vice president of finance and shall be the chief financial officer of the Covenant.

By mutual agreement with the president, any board, council, commission, committee, or association of the Covenant or any board or committee of a corporation established by the Covenant may invite a vice president as a representative of the president of the Covenant, with the status of an advisor to a meeting of the group.

In the temporary absence or temporary disability of a vice president, the president may appoint with the concurrence of the Executive Board a person to perform the duties of that position on an interim basis for the duration of the temporary absence or temporary disability.

The Executive Board shall declare the position of any vice president vacant upon the removal, resignation, permanent incapacity, or death of the person holding that position. By vote of two-thirds of its elected members, the Executive Board may remove a vice president. A vice president may resign upon written notice to the Executive Board. The Executive Board shall develop a policy for determining permanent incapacity. When a vacancy occurs in the position of a vice president, the president shall appoint with the concurrence of the Executive Board a person to perform the duties of the vacated position on an interim basis, until such time as a permanent replacement is appointed by the president with concurrence of the Executive Board.

Section 10.7.d. Board of Pensions and Benefits. The president of the Covenant, the corporate treasurer of the Covenant, and the chair of the Board of Pensions and Benefits shall be the trustees of the Covenant Pension Plan, as amended. Amendments to the Covenant Pension Plan shall be adopted as set forth in the plan.

Section 12.3.g. North Park University. The Board of Trustees may submit requests for appropriations to be included in the annual Covenant coordinated budget. These requests for appropriations shall be submitted to the corporate treasurer of the Covenant for consideration in the preparation of the annual Covenant coordinated budget. Each request for appropriations shall include a copy of the budget of North Park University.

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