Chief Financial Officer (CFO)

Description

Detroit Employment Solutions Corporation (DESC) is a 501(c)(3) serving as the fiscal and administrative agent of the Mayor’s Workforce Development Board (MWDB), which is the local Workforce Investment Board (WIB). DESC is also the MichiganWorks! Agency for Detroit. In concert with the Mayor’s Office of Workforce Development, DESC is the implementation and operations partner for the City’s workforce strategy.  

Requirements

Position Summary 

The Chief Financial Officer (CFO) serves as a strategic partner to the President, DESC executive leadership team, and Board of Directors providing financial stewardship and operational leadership for a dynamic nonprofit organization funded by federal, state, and private sources. The CFO is responsible for ensuring compliance with all regulatory requirements, driving financial innovation, and fostering a culture of collaboration across departments. This role oversees all financial functions, including budgeting, grant management, accounting, procurement and reporting, while leading a comprehensive finance team that includes four functional leaders. 

Key Responsibilities 

• Partner with the President and Board of Directors to develop and execute financial strategies aligned with the organization’s mission and long-term goals. 
• Provide financial insights and recommendations to support innovation, revenue diversification, and organizational growth. 
• Oversee all accounting, budgeting, cash management, and financial reporting functions, ensuring accuracy and transparency. 
• Ensure compliance with federal, state, and private funding requirements, including grant reporting and audits. 
• Develop and maintain internal controls to safeguard assets and ensure adherence to GAAP and nonprofit best practices. 
• Lead, mentor, and develop a finance team that values and demonstrates collaboration and continuous improvement. 
• Work cross-functionally with program and operations teams to align financial planning with organizational priorities. 
• Implement technology-driven solutions to streamline financial processes and enhance reporting capabilities. 
• Identify opportunities for grant optimization and resource allocation to maximize impact. 
• Prepare and present financial reports to the Board of Directors, funders, and regulatory agencies as requested. 
• Serve as a key liaison with leadership and financial institutions. 

Core Competencies 

• Strategic Financial Planning 
• Regulatory Compliance 
• Leadership & Team Development 
• Innovation & Technology Integration 
• Collaboration & Relationship Building 

Key Performance Indicators (KPIs) 

• Audit Success Rate: 100% compliance with federal, state, and private funding requirements; clean audit reports annually. 
• Grant Reporting Accuracy: Timely and error-free submission of all grants financial reports (target: 100% on time). 
• Budget Variance: Maintain actual expenses within ±5% of approved budget. 
• Process Efficiency Gains: Implement at least 2 technology-driven improvements annually that reduce reporting time or manual work by 20%. 
• Cost Optimization: Achieve annual cost savings or resource reallocation of at least 5% without compromising program quality. 
• Employee Engagement Score: Achieve a team engagement score of 80% or higher in annual surveys. 
• Staff Development: Ensure 100% of finance team members complete at least one professional development activity per year. 
• Board Satisfaction: Positive feedback from the Board on financial reporting clarity and timeliness (target: 90% satisfaction). 
• Timely Reporting: Deliver monthly financial reports prior to the end of the following month-end. 

Qualifications 

• Bachelor’s degree in accounting, Finance, or related field; CPA or MBA preferred. 
• Minimum of 10 years of progressive financial leadership experience, including at least 5 years in a nonprofit setting. 
• Expertise in managing federal, state, and private funding streams and compliance requirements. 
• Strong knowledge of nonprofit accounting standards and grant management. 
• Proven ability to lead teams and foster a collaborative, innovative work environment. 
• Excellent communication, analytical, and strategic thinking skills. 

Work Environment: 

• This role is eligible for a hybrid work arrangement and requires a combination of on-site and remote work. Schedule will be determined by departmental and operational needs.   

Other: 

• Background check and drug screen required.

Salary : $130,000 - $150,000