Chief Financial Officer

KY Innovation; Lexington (KY); On-site; USD 90,000 - 160,000; Full time

Job summary

An established industry player is seeking a Chief Financial Officer (CFO) to lead financial operations and strategy. This pivotal role involves overseeing budgeting, financial planning, and compliance, ensuring the organization’s financial health while supporting its mission. The ideal candidate will have extensive experience in financial management, particularly within non-profit settings, and a strong grasp of accounting standards. This is an exciting opportunity to play a critical role in shaping the financial future of a pioneering organization dedicated to innovation and growth in Kentucky. Join a dynamic team and contribute to meaningful change in the community.

Qualifications

• 10+ years of financial management experience, including leadership roles.
• Strong knowledge of GAAP and nonprofit standards.

Responsibilities

• Oversee financial planning, budgeting, and reporting for the organization.
• Manage day-to-day accounting operations and ensure compliance.

Skills

Financial Management

Strategic Planning

Accounting Standards (GAAP)

Interpersonal Skills

Analytical Skills

Communication Skills

Risk Management

Budgeting

Education

Bachelor's degree in Accounting or Finance

Master's degree in Business Administration

Tools

Financial Software

Job description

Job Title: Chief Financial Officer (CFO)

Company: Kentucky Science and Technology Corporation (KSTC)

Reports To: President

About KSTC: Since its founding in 1987, the Kentucky Science & Technology Corporation (KSTC) has been a pioneering force in driving science, technology, and innovative economic development throughout Kentucky.

Vision and Mission: We envision a future where Kentucky is recognized as a national and international leader, ranks among the top half of states in innovation-driven economic development, and where KSTC is recognized among its peers as setting the benchmark for others to follow. With this vision in mind, our mission is clear: We cultivate knowledge, talent, and innovation to propel the state's growth and competitiveness on a national and global scale.

Position Summary: The Chief Financial Officer (CFO) serves as a key member of KSTC executive leadership and manages all aspects of Finance & Accounting (F&A) including (a) accounting functions and compliance with all internal policies and funder regulations; (b) financial planning and analysis; (c) treasury, investment and risk management and (d) financial process improvements and reporting systems.

As a non-profit organization, KSTC receives a majority of its funding from multiple agencies within federal and state governments as well as private funding. Accuracy and compliance within this complex fund-based accounting structure is critical given the public nature of KSTC’s funding and mission.

While ensuring meticulous accounting is vital, the CFO must equally provide strategic financial leadership, strong financial planning, analysis and modeling and complete management of fiscal operations while ensuring the financial health of the organization. The CFO is vital in supporting the organization’s mission by monitoring that resources are effectively managed and efficiently deployed and aligned with programmatic goals and funder requirements.

Key Responsibilities:

Financial Planning and Analysis

• Oversee the annual budgeting process, ensuring accurate and comprehensive financial planning.
  • Implement on-going process improvements in the budget and forecasting process.
• Monitor financial performance against budget and forecast, providing regular updates to leadership.
  • Develop metrics for use by Program Executive Directors, KSTC leadership and the Board.
• Identify areas for cost savings and efficiency improvements.

Accounting and Financial Operations

• Supervise day-to-day accounting operations, including accounts payables, receivables, payroll, fixed assets and general ledger management. Ensure compliance with GAAP and other government related regulations and requirements.
• Supervise cash management, anticipating potential timing challenges and ensuring cash reserves are available.
• Ensure timely and accurate month-end and year-end closings.
• Develop, maintain and update internal control systems and safeguard assets in accordance with best practices.

Financial Reporting and Compliance

• Prepare and present accurate financial reports to the President, Board, funders, and regulatory agencies.
• Lead management’s role with the Board’s “Finance & Audit Committee.”
• Lead the annual audit process, including the selection, negotiation, and approval of the external auditors. Serve as the primary liaison between the organization and the auditors.

Grants and Contracts Management

• Oversee the financial management of state and federal grants and contracts, ensuring proper allocation and tracking of funds.
• Ensure compliance with federal, state, and local regulations, including adherence to OMB Uniform Guidance (2 CFR Part 200) and other grant-specific requirements.
• Develop and implement systems and processes for monitoring grant compliance and reporting.
• Collaborate with program leadership to align financial management with program delivery.
• Provide financial support to program leadership in pursuing new and/or incremental funding.

Financial Leadership

• Develop and implement financial strategies to support KSTC’s mission and long-term sustainability.
• Ensure F&A has a strong process focus and the right tools for effectiveness and efficiency across the entire organization.
• Serve as a financial advisor and strategic team member to the President, executive leadership team and Board of Directors on financial planning and performance.
• Play an active role in developing and implementing the organization’s Strategic Plan, leading the financial planning aspects of the plan.
• Lead financial forecasting, risk management, treasury & investment management and scenario planning efforts to successfully balance risk, opportunity and cost.
  • Lead KSTC’s relationships with our banking, investment and insurance providers.
  • Develop a comprehensive approach to managing the organization’s risk, including insurance protections, policies and procedures, and approach to KSTC investments.
• Foster collaboration between the F&A team and programmatic leaders to ensure strong execution and compliance. Support the organization, and specifically the programmatic leaders in seeking and securing incremental funding.

Team Leadership and Development

• Recruit, train, and manage F&A team members, fostering a culture of excellence and accountability.
• Plan for future needs, balancing the F&A staffing needs with overall F&A affordability.

Required Qualifications:

• Bachelor’s degree in Accounting, Finance, or a related field.
• Minimum of 10 years of progressive financial management experience, including senior leadership roles.
• Demonstrated experience managing the finances of a small to medium sized organization
  • Experience with a non-profit preferred.
  • Experience with federal and state funding streams preferred.
• Strong knowledge of accounting standards, including GAAP and OMB Uniform Guidance.
  • Experience with nonprofit standards and Title 2 CFRs is preferred.
• Expertise in choosing, implementing and leveraging financial software and systems
• Demonstrated ability to manage and support direct staff, and internal customer demands.
• Strong interpersonal and communication skills, with the ability to influence and build consensus across diverse stakeholders and to translate complex financial information for diverse audiences.
• Proven ability to manage multiple priorities, meet deadlines, and drive results.

Preferred Qualifications:

• Master’s degree in Business Administration, Accounting, Finance, or a related field
• Certified Public Accountant

Personal Attributes:

• Exceptional strategic thinking and analytical skills.
• Commitment to the mission and values of the organization.
• Results-oriented and driven to achieve organizational goals.

Additional Information:

• KSTC has its primary location in Lexington, Kentucky. This role requires regular presence in that office, typically three days per week.
• The above statements describe the general nature and level of work performed by individuals assigned to this job. It is not an exhaustive list of all duties and responsibilities required. Other duties may be assigned as determined by management.
• Reasonable accommodations may be made to enable individuals with disabilities to perform essential duties and responsibilities.

KSTC is an equal opportunity employer and offers a competitive salary and benefits package. Applications are now being accepted and will be processed as they are received, with screening for interviews beginning immediately.