Director of Finance and Accounting
CommonLit
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Posted on Friday, February 9, 2024
CommonLit is a nonprofit EdTech organization dedicated to providing high-quality literacy instruction to low-income students and students of color to prepare them for success in college and careers. We operate a free online reading and writing program, www.commonlit.org, that is used by millions of teachers and students worldwide each month. We are a quickly growing team of passionate professionals - many of whom are former teachers. Our team is now over 120 full-time employees spread across ~30 states.
Position Overview
The Finance team at CommonLit oversees all core and accounting operations across the organization. As the leader of the Finance team, the Director of Finance and Accounting oversees the finance function at CommonLit. The Director is directly responsible for the analysis of CommonLit's financial data and the presentation of that analysis to inform leadership decisions. This role oversees accounting at the organization and ensures the timely and accurate reporting of CommonLit's finances as well as organization-wide compliance with relevant policies and regulations. The Director of Finance and Accounting is responsible for strengthening, implementing and monitoring the organization's monetary policy and resulting cash management. This role is responsible for building up CommonLit's finance function by developing processes, centralizing financial tasks, and clearly defining finance roles and responsibilities at CommonLit. This position supervises the Finance and Accounting Manager and Coordinator. This position also co-manages the Partnerships Operations Coordinator and liaises directly with the Partnerships team on all matters relating to payments and accounts receivable.
Responsibilities
Budgeting and Financial analysis
-Generate annual forecasts in collaboration with VP of Business Operations, Partnerships team, and other relevant stakeholders.
-Collaborate with leadership to develop and execute financial strategies aligned with the organization's overall goals and objectives; run scenarios based on the business landscape and economic conditions
-Analyze financial data to provide insights into the company's financial health, trends, and areas of concern; use insights to support strategic planning, budgeting and forecasting
-Assess the financial performance of the organization and identify opportunities for cost optimization and revenue enhancement
-Oversee the organization's annual budgeting process; develop a system for review, analysis, and prioritization of strategic pursuits and objectives to inform leadership's decision-making
-Present financial reports to leadership, the board of directors, and external stakeholders as required; serve as the Treasurer on the Board of Directors
Accounting oversight
-Lead the organization through the annual audit (and any other required state or federal filing) and the submission of Form 990. Liaise between external auditors and the Board of Directors Finance Committee
-Oversee day-to-day accounting operations and the management of accounts payable, accounts receivable, general ledger, and payroll functions
-Oversee the preparation and distribution of accurate and timely financial statements, including balance sheets, income statements, budget to actuals and cash flow statements
-Ensure organization’s compliance with accounting principles, regulations, and company policies
Treasury oversight
-Oversee organization's cash management; steward the organization's monetary policy and investment approach under the governance of the organization's Finance Committee
-Develop and implement cash management strategies to optimize working capital and support operational needs
-Monitor cash flow and liquidity to ensure the company's financial stability and ability to meet financial obligations
-Review and approve banking transactions as processed by the Manager
Finance function design, development and oversight
-Design, implement, and optimize financial processes of the organization
-Oversee and strengthen organization's internal controls to safeguard company assets and ensure accuracy of financial records. Ensure there are no gaps or oversights in the existing processes
-Oversee organization’s ecosystem of financial systems and their effectiveness
Other
-Build strong relationships with internal stakeholders, including executive leadership, to provide financial expertise and support decision-making
-Provide guidance, mentoring, and professional development opportunities to team members
-Recruit, train, and manage a high-performing accounting and finance team
-Collaborate with external stakeholders, such as auditors, regulatory authorities, and financial institutions
-Foster a collaborative and positive work environment that encourages growth and innovation
-Other duties as assigned
Physical & Additional Requirements
-This role involves prolonged periods sitting/standing at a desk and working on a computer
Qualifications
Education requirement
-Bachelor’s degree in accounting, finance, or a related field; MBA or CPA designation preferred
Years of experience requirement
-Minimum of 8 years required.
Targeted experience requirement(s)
-Experience building, managing, and growing a finance function for a growth stage organization preferred.
-3+ years of experience supervising finance staff required.
-Experience leading financial operations and strategy in an organization with a $20-$50 million annual budget preferred.
Required hard skills (software, platform, language proficiency, etc.)
-Strong knowledge of accounting principles, financial reporting, and regulations (GAAP).
-Mastery of financial and accounting software and reporting systems; expert in Microsoft Excel and other leading business intelligence/reporting applications.
Soft Skills
-Demonstrated leadership abilities and organizational skills, able to model maturity, dependability, integrity, and initiative.
-Strong analytical and data analysis skills and ability to manage large volume data for generated reports to assist decision making at the company level.
-Demonstrated leadership abilities and organizational skills, able to model maturity, dependability, integrity, and initiative.
-Demonstrated ability to solve all facets of extensive complex, multi-faceted managerial and operational issues which require extensive knowledge, varied experiences, access to multiple talent/resources and independent judgment.
-Strong management skills, with ability to lead multiple projects simultaneously in a fast-paced and constantly evolving environment.
-Strong skills in team building, mentorship, delegation, skill, and career development.
-Excellent interpersonal, problem solving, and conflict resolution skills.
-Outstanding communications skills, including oral, written and presentation including the ability to synthesize complex questions and professionalism when representing CommonLit to external partners.
-Ability to communicate and work with staff and stakeholders at all levels.
-Ability to maintain discretion and work with confidential and/or protected information.
-Ability to work independently and as part of a team.
Apply by date: Wednesday, February 21 by 5pm ET. Please submit your resume and cover letter and answer the application questions.
As an equal opportunity employer, CommonLit values having a diverse workforce and continuously strives to maintain an inclusive and equitable workplace. We encourage people with a diverse range of backgrounds to apply. We do not discriminate against any person based upon their race, traits historically associated with race, religion, color, national origin, sex, pregnancy or related medical conditions, parental status, sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, genetic information, or any other legally protected characteristics. If you are a qualified applicant requiring assistance or an accommodation to complete any step of the application process due to a disability, you may contact us at careers@commonlit.org.
This job is no longer accepting applications
See open jobs at CommonLit.See open jobs similar to "Director of Finance and Accounting" Fast Forward.