Chief Financial Officer

Chief Financial Officer

Reports to:  President and Chief Executive Officer   

Supervises:  Plant Controller; Corporate Accounting Manager; Retail Accounting Manager

Summary Statement:   The Chief Financial Officer serves as a member of the Executive Team and is responsible for maintaining the financial integrity and long-term financial health of the organization while ensuring compliance with applicable nonprofit, federal contracting, and other statutory and regulatory requirements. The CFO partners with IFB’s operational and business leaders to evaluate performance, improve financial sustainability, allocate resources effectively, and support strategic business and mission growth.

Essential Job Functions

• Lead the development and execution of IFB Solutions’ long-term financial strategy, aligning financial resources, capital investments, and business objectives with the organization’s strategic plan and mission.

• Oversee the annual operating and capital budgeting process, including development of budgets, financial forecasts, financial targets, and performance measures in partnership with the CEO and executive leadership.
• Provide financial leadership and business/partner support to operating units, including Textiles Manufacturing, E-commerce, Retail, Workforce Services, and other business operations, to improve financial performance, productivity, and resource utilization.
• Develop, monitor and report on financial and operational performance metrics, including revenue, gross margin, contribution margin, labor productivity, overhead absorption, working capital, inventory, cash flow, and return on capital investments.
• Evaluate the financial performance and strategic viability of existing and prospective business opportunities, including new contracts, customers, products, facilities, capital investments, acquisitions, partnerships, and other growth initiatives.
• Oversee cash management, liquidity, banking relationships, investments, and working capital, ensuring adequate liquidity to meet operational, capital, and strategic requirements.
• Oversee financial aspects of federal, state, and commercial contracting, including cost analysis, contract profitability, indirect rates, cost allocation, and compliance with applicable government contracting requirements.
• Ensure compliance with applicable federal, state, local, and nonprofit financial requirements, including government contracting, tax-exempt organization requirements, financial reporting, and regulatory obligations.
• Serve as the organization’s senior financial advisor to the CEO and Executive Team, providing objective analysis and recommendations regarding strategic decisions, investments, operating performance, and financial risk.
• Serve as the financial liaison to the Board of Directors and appropriate Board committees, providing timely, transparent, and understandable information regarding financial performance, forecasts, risks, investments, and strategic financial matters.
• Manage the organization’s enterprise risk management and insurance programs, identifying significant financial, operational, contractual, property, cyber, and other enterprise risks and developing appropriate mitigation strategies.
• Maintain appropriate financial policies and governance practices, periodically reviewing and recommending updates to financial, investment, expense, purchasing, delegation-of-authority, and internal-control policies.
• Oversee the organization’s external audit, tax filings, financial statement preparation, and other independent financial examinations, ensuring timely resolution of findings and recommendations.
• Maintain and continuously improve an effective internal-control environment, including segregation of duties, financial authorization processes, fraud prevention, asset protection, and compliance monitoring.
• Oversee the organization’s financial systems and technology in partnership with the CIO and other leaders, ensuring financial systems provide accurate, timely, secure, and actionable information.
• Develop and maintain relationships with banks, investment managers, auditors, insurance providers, financial advisors, government agencies, and other external financial stakeholders.
• Identify opportunities to improve financial performance through process improvement, automation, cost management, procurement, and organizational efficiencies.

• Perform other duties as assigned.

Skills, Knowledge, and Abilities

• Must be proficient with the Microsoft suite of products.
• Must have excellent follow-up, verbal, and written communication skills.
• Must have strong financial analysis skills.
• Must be successful in promoting a team concept and positive work environment.
• Must have a proven ability to execute against plan.
• Must have a proven history of successful problem solving, goal setting and achievement.
• Must be able to control processes within budget.

Education and Work Experience

• A BA, BS or MS degree in accounting is required.  An MBA degree is preferred.
• A minimum of 10 years’ experience in financial management leadership is required.

ISO 5.3 Organizational Roles, Responsibilities and Authorities

IFB employees have the responsibility and authority to ensure to produce first-quality products that meet our customers’ requirements.

EEO Statement

In compliance with federal law, all persons hired will be required to verify identity and eligibility to work in the United States and to complete the required employment eligibility verification document form upon hire.  IFB Solutions provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran status, and disability or genetics.