Chief Financial Officer

Statement of Duties
The Chief Financial Officer (CFO) provides administrative, professional, and supervisory work in administering the accounting system and financial functions of Rhode Island Commerce Corporation (Corporation). In addition, in your role as CFO of the Corporation you will provide accounting, control and finance-related activities for the Executive Office of Commerce (EOC).

Position Functions
The essential functions and duties listed below are intended only as an illustration of the various types of work that may be performed. The specific omission of specific statements of duties does not preclude them from the position if work is similar, related, or a logical assignment to the position.

Essential Functions
Financial Control
• The CFO will ensure that optimal financial control and reporting systems are in place and continuously monitored. These systems include reporting on various multi-year programs and outside federal, state, and private grants.
• Monitor programs and operations budgets to provide timely information to the President, department heads and appropriate board committees.
Financial Compliance
• Work with outside auditors and internal accountants to assure the organization is current on all accounting procedures and to anticipate any implications of accounting rule changes.
• Work with state budget officials and the auditor general’s offices to ensure financial statements are in compliance with state law.
Budgeting and Business Planning
• Develop annual program and operations budgets in cooperation with department heads and provide confidence on the integrity of the budget.
• Develop long-term (multi-year) forecasts to assist the President with multi-year planning.
• Maintain monthly budget projections.
• Evaluate financial implications of new proposed initiatives.
Reporting
• Develop and deliver financials and other reports to the board and committees.
• Provide financial reports for grant compliance to federal, state and local granting agencies.
Banking
• Manage banking relationships, including loan administration; handle short-term cash investments; and provide for the investments of the organization.
• Provide cash flow planning and monitor cash flow activities for ongoing operations.
Benefits Administration
• Manage the 401A and defined benefit pension plans including compliance, administration oversight, and vendor relations and investment selection.
• Manage annual renewal process for employee benefits, working closely with the HR department.
Risk Management and Contract Management
• Manage relationships with brokers and insurers, manage liability claims, monitor and evaluate policies, and optimize risk management.
• Act as primary liaison with legal counsel on all matters of risk.
• Evaluate standard contracts and provide guidance on exceptions to standard contract terms.
• Contract compliance and financial oversight of service providers.
Procurement
• Manage the corporation’s purchasing rules and regulations in accordance with Chapter 2 of Title 37 of the Rhode Island General Laws (State Purchases Act), to insure fair and equitable treatment of all persons conducting business with the Rhode Island Commerce Corporation.
Supervisory Responsibilities
• Manages and directs accounting team. Responsible for the overall direction, coordination, and evaluation. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.

Key Competencies
• Interact and present information in a clear and concise manner.
• Plan, organize and manage multiple projects and adapt workload to changing corporate priorities.
• Analyze and interpret financial data to present findings.
• Exercise considerable judgment and discretion in establishing and maintaining effective working relationships across all levels of the organization and with external groups.

Professional Qualifications
• Principles and practices of accounting and applicable federal and state laws and regulations, including Government Accounting Standards (GASB)
• Contract negotiation.
• Rhode Island state purchasing policies.
• Investments and pensions
• Bonds and other financing transactions

Preferred
• An advanced or professional degree in accounting or related field; possession of a CPA certificate and/or graduate degree preferred but not required; seven (7) to ten (10) years of progressively responsible experience in accounting and financial services with at least five (5) years management experience supervising an entity with more than one division.