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Chief Financial Officer/Chief Operating Officer

617MediaGroup

617MediaGroup

Accounting & Finance
Boston Metropolitan Area, USA
Posted on Tuesday, April 9, 2024
A unique opportunity exists for candidates with a successful track record of financial and operational leadership. The successful candidate will be an integral part of the senior leadership, shaping the operating and strategic direction of the agency. The hybrid Chief Financial Officer/Chief Operating Officer (CFO/COO) role reports directly to the President and encompasses all aspects of the organization’s financial, administrative, and facilities functions. The CFO/COO will be a strategic partner to the President, Managing Director, and other leadership colleagues, developing short-term and long-term plans and budgets that promote the realization of strategic objectives in a financially sound manner. The CFO/COO will have a day-to-day, ongoing impact on agency operations, helping us to analyze, strategize, and grow our financial stability and operating model. This seasoned strategist not only will understand current accounting practices and trends, but also will have experience adapting to organizational and operational change.

Key Responsibilities

617MediaGroup needs a leader who can create and guide financial and operational systems in ways that keep our agency positioned for success.
  • Take responsibility (either directly or via staff) for all cash management, insurance, budgeting, and financial reporting, and to help drive the agency’s financial and operational strategies.
  • Ensure cash flow is compatible with operations by overseeing day-to-day accounting, recording, reporting, and internal-control activities of the organization
  • Develop and implement best practices and tools to ensure a well-controlled yet flexible organization that has strong fiscal management, project coordination, cross-team communications, and workflow operations.
  • Comply with national and local financial and regulatory requirements by studying existing and new legislation and taking appropriate action.
  • Work with senior managers to efficiently develop budget proposals, provide reliable and scheduled access to project and team finance information, and to ensure strong operational contract compliance and reporting.
  • Research revenue opportunities, analyze internal operations, and identify areas for cost reduction and process enhancement.
  • Perform risk management through analysis of company liabilities and investments, and evaluate and manage capital structure and fundraising initiatives.
  • Oversee personnel related financial operations by coordinating with external service providers (ex: payroll, benefits, tax preparation).
  • Monitor agency performance with tracking tools, establish corrective measures as needed, and prepare detailed reports for the management team, and rest of the agency.
  • Manage finance personnel and oversee financial related tech systems, ensuring compliance with relevant regulatory entities (ex: Financial Accounting Standards Board, Internal Revenue Service, state attorneys general).
  • Prepare and maintain the annual, quarterly and monthly operating budgets, in collaboration with relevant departments and leadership.
  • Provide monthly P&Ls to leadership with analysis of variance vs budget.
  • Oversee all agency capital, financial, and utilization resources in conjunction with relevant teams
  • Standardize charts of accounts to provide consistent reporting and enhanced ability to identify underlying drivers of performance versus budget.
  • Identify cost savings opportunities across organization on an ongoing basis; present recommendations to agency leadership
  • Provide regular financial updates (operating results, cash flow, and financial condition) to agency leadership and to third parties as required by covenants and regulations
  • Provide clear, concise, relevant and timely information to agency leadership
  • Develop standard operating procedures and reporting for all overhead departments, and collaborate with agency leadership on operating procedures for non-overhead departments, to ensure the optimal use of resources.
  • Improve cross departmental collaboration through improved data analytics and reporting and clear communication.
  • Partner with senior leadership staff in the strategic planning process.
  • Manage auxiliary financials for related entities overseen by the agency or that the agency is contracted to oversee
  • Analyze and provide recommendations on revenue activities,, balancing strategic objectives and financial considerations.
  • Establish a strong, scheduled cadence/rhythm of business for all overhead activit.
  • Develop ad hoc reports as necessary.
  • Manage key personnel related assets and liabilities (payroll benefits, retirement plans, etc.)
  • Act as primary contact to outside accountants, auditors, tax preparers, IRS, and banking partners for all reporting and the annual audited financials.
  • Manage all overhead staff not otherwise assigned and oversee all vendor and non-client third party contracting relationships.
  • Build the infrastructure to manage revenue capture, prevent fraud, ensure accuracy, and prevent leakage
  • Create and implement a collections process
  • Create and implement a thorough and detailed reimbursement policy, and ensure relevant costs are billed appropriately, while ensuring that time tracking software accurately reflects current billable projects.
  • Have a firm accounting of all recurring expenses and proactively manage their review while administering proactive cost-savings effort.

Requirements and Qualifications

The ideal candidate will be a detail-oriented professional with strategic vision. The CFO/COO will be a collaborative, consensus building team player who can drive organizational excellence. The CFO/COO will be adept at managing a variety of complex tasks in a timely manner.
  • Excellent leadership skills, with steadfast resolve and personal integrity.
  • Exceptional verbal, written, and visual communication skills.
  • At least ten years of experience in a senior financial role at a multi-departmental employer/entity and at least two years of experience holding the title of CFO, CSO and/or COO in a full-time capacity.
  • Bachelor’s degree or equivalent training in a related field.
  • Ability to generate and maintain complex financial spreadsheets and systems in QuickBooks, excel, and google sheets.
  • Ability to generate timely P&L, Cash Flow Statements, Balance Sheets.
  • Ability to work seamlessly with a variety of teams ranging from overhead to creative and client services.
  • A commitment to social justice causes and workers’ rights.
  • Excellent judgment and decision making.
  • Understanding of advanced accounting, regulatory issues, and tax planning.
  • Working knowledge of how to secure financial infusions outside traditional lines of credit.
  • Collaborative “can-do” approach to problems and interpersonal relationships.
  • Must have reliable, insured personal automobile and Massachusetts driver’s license.
  • Must have a current passport in case travel to international locations is required.
  • Must reside within 60 minutes or otherwise reasonable commuting distance to the agency’s Route 128 and Boston offices, and willing to work on-site.
  • Some out-of-state and international work travel will be required.
All employees in this position are expected to retain a valid driver’s license and a purchased or leased automobile for personal transportation to work events with a valid inspection sticker. If this expectation will create an unmitigable hardship, and you would like to request an exemption, please note that in your cover letter.
Please note that we receive hundreds of applications each month, and we are not able to respond to every individual application. If you do not receive a response from our organization within 90 days either in the form of initial outreach or follow-up correspondence, please assume that your application has not been chosen for the specific career opportunity to which you applied. You may re-apply at any time for future opportunities. While we do our best to ensure timely and thorough correspondence with applicants, the volume of applications we receive does not allow us to respond individually in all cases. Thank you again for your interest in pursuing employment with 617MediaGroup.