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National Credit Union Foundation Seeking Chief Financial and Operations Officer

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The National Credit Union Foundation (the Foundation) is a non-profit organization that strives to make financial freedom achievable through credit unions. At the Foundation, we believe that all consumers should have the education, tools, and resources needed to achieve financial freedom. Through Foundation grants and programs, credit unions provide widespread financial education, create greater access to appropriate and affordable financial services, and empower more consumers to save, build assets, and own homes.

Organizational Background

Established in 1980 through the trade association Credit Union National Association (CUNA), the Foundation works nationally and internationally through its offices in Washington, DC, and Madison, WI. The organization has an operating budget of approximately $3.1 million, total liabilities and net assets of $9.6 million, and a current staff of 10 people. The majority of the organization’s revenues are from corporate donations and investments within the credit union system. The CFOO will supervise the Accounting Data Specialist, as the only direct finance staff report. The CFOO will also supervise core operations, including administration, technology, legal, and enterprise risk management, based on professional experience and interest.

Chief Financial Officer
The Chief Financial and Operations Officer (CFOO) reports directly to the Executive Director and is a member of the Senior Management Team. The CFOO’s responsibilities include:
  • Serve as a collaborative partner to the Executive Director, Board, and staff to provide strategic financial leadership and direction that will ensure the Foundation’s long-term financial well-being and growth.
  • Guide and direct all aspects of the Foundation’s financial and day-to-day operations and strategies in conjunction with the Executive Director and Board of Directors, taking initiative to bring financial and business expertise to strengthen all aspects of the Foundation’s operations with the goal that the Foundation be recognized as adhering to the highest standards of nonprofit financial management.
  • Direct the long-term investment strategy for the organization’s endowment and reserves and the short-term investment and cash management strategy; assist the Board in establishing appropriate investment policies for short-, medium- and long-term investments, manage relationships with credit unions and other financial institutions and investment managers.
  • Identify and implement appropriate and user-friendly methods of project budgeting, scenario forecasting, and cost allocation; work with staff to analyze the financial feasibility and impact of proposed projects, activities, and organizational investments; coordinate financial systems with project management systems to guide the current and projected operations of the organization. Recommend and implement policies and procedures relative to project management and relationships with contractors, subcontractors, and grantees/investees to ensure organizational control and integrity.
  • Serve as the organization’s chief risk management officer by identifying major risk areas (operational, financial, and reputational) and developing, maintaining, and monitoring a comprehensive organizational risk management plan. This will include maintaining appropriate general liability, meeting liability and excess liability insurance, travel insurance, property insurance, and other insurance policies as well as policies and procedures that are not related to insurance but asset the organization to appropriately reduce, manage and mitigate risk.
  • Supervise a finance staff of one and collaborate closely with CUNA’s Finance Department; institute, document, and implement proper financial controls including separation of duties, to ensure accuracy, timeliness, and integrity of all financial and accounting transactions and records.
  • Prepare annual organizational budgets and long-range financial projections; prepare cash flow budgets and projections; establish financial targets and provide input into the development of operational targets; monitor financial performance and recommend and facilitate operational adjustments to ensure satisfactory outcomes for the organization.
  • Oversee preparation and sharing of monthly financial reports with Board, senior management and staff, including reports showing performance against organizational and project budgets, facilitate by analysis, training and other means the appropriate and timely interpretation and understanding by Board, senior management and staff of financial conditions required for management of the organization and its activities.
  • Provide staff support to the Board of Directors, and to the Board Finance & Investment and Audit Committees. Act as principal liaison with independent auditors for audit and Form 990 filing; ensure satisfactory results from annual independent audit and any other external or internal audit or reviews.
  • As needed, certify grant budgets and financial reports prepared for funders and prospective funders; work with Board, Executive Director, Development & Donor Relations Director, and staff to help achieve revenue and resource development goals of the organization.
  • Serve as the primary staff liaison and relationship builder with service units at CUNA that interface and provide support to the Foundation including, but not limited to Legal, HR, IT, Finance, and Marketing. Oversee other relevant legal advisors and relationships that affect the Foundation’s business and financial affairs.
  • Oversee the organization’s procurement policies and procedures and implement management control processes over expenses and expenditures to achieve desired outcomes for the organization; oversee payroll, tax reporting, federal, state and local registration and reporting requirements; monitor and ensure compliance with all governmental, quasi-governmental, funder and voluntary regulations and requirements.

Qualifications

The Chief Financial and Operations Officer should ideally possess the following professional qualifications and personal attributes:

  • Graduate degree in finance or accounting, MBA or equivalent. CPA preferred.
  • Ten or more years of increasing responsibility in organizational financial management and direction with direct experience in nonprofit and fund accounting practices for one or more 501(c)(3) organizations.
  • A commitment to the mission of the Foundation.
  • Demonstrated success in managing all financial management activities of an organization including implementation of financial information and control systems, general ledger budgeting, cost allocation, etc.
  • Demonstrated experience in preparation and management of daily, monthly and annual financial statements and experience in developing and presenting financial reports on a timely basis to the Executive Director and all key senior leadership.
  • Demonstrated experience in wide range of financial information systems and database software in order to provide effective internal financial controls for the departments and the organization as a whole. Knowledge of Great Plains accounting software is highly desired; knowledge of Personify, SalesForce/Nimble fundraising software is highly desired but not required; openness and willingness to learn how to use accounting software required.
  • Mature and proactive, with evidence of having worked as a true business partner to the chief executive of a multi-state and network-based entity.
  • An ability to inspire trust, manage teams, and motivate staff to work well together in a diverse workplace.
  • An ability to perform effectively under pressure and to practice strong organizational skills when faced with multiple, time-sensitive priorities.
  • A collaborative and flexible style, with a strong service mentality. Needs to be seen as a team player who is committed to lifelong learning.
  • An entrepreneurial spirit and an ability to think strategically, creatively, and tactically.
  • An effective communicator with excellent oral and written communication skills.
  • Highest level of personal and professional integrity and quality standards.
  • Must have the ability to travel between 20-45 days per year

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For questions, please contact the National Credit Union Foundation at [email protected]