Finance Manager

Co-Impact - New York

14 Jul 2022

Co-Impact - New York

Finance

Full Time

1

5 years

100000 USD

US East Coast time zone | Salary: US $100,000 per annum

This is a full time, remote, exempt position


Who We Are

Co-Impact is a global philanthropic collaborative that supports locally-rooted coalitions in the Global South to transform underlying systems and achieve impact at scale, with a core focus on advancing gender equality and women’s leadership. We bring together funders from around the world to invest in initiatives that are working to improve education, health, and economic opportunity for millions of women, men, and children, addressing underlying conditions that perpetuate social inequities so that systems better serve everyone. Building on our experience to date, as well as that of civil society, government, market actors, and philanthropic partners, we are now developing a second fund focused on advancing gender-equitable systems change at scale and women’s leadership globally. For more information, please visit www.co-impact.org  and take a look at our Handbook.

Co-Impact currently operates as a fiscally-sponsored project of the New Venture Fund (NVF), and we are in the process of spinning out to an independent entity. We have incorporated a new US-based nonprofit entity and are in the process of applying for public charity status, with a goal to be operating independently by end of 2022.

Where You Fit

Until the Director of Finance joins the team (recruitment in process), the Finance Manager will report to the Associate Director of Operations and will support the overall financial management of the organization and its assets, including but not limited to procurement and vendor management, coordination of the relationship with accounting/bookkeeping and audit firms, forecasting, budgeting, and financial reporting functions, and so forth.

This is a unique time in our organization’s evolution, as we are building out our finance function independent from our fiscal sponsor, which has to date been handling all bookkeeping and maintenance of financial records, as well as all disbursement and receipt of funds. The successful candidate must have relevant experience in financial management, ideally in philanthropy or non-profit organizations, and a keen interest in both the entrepreneurial/start-up phase of a finance function as well as the ongoing management after start-up. Experience in setting up financial systems and policies for a start-up entity is highly preferred.

The Role

Core responsibilities will include, but are not limited to, the following, and are subject to change over time as our finance function is more fully developed:

  • Manage procurement, contracts, vendor invoicing, and payments, in compliance with the organization’s policies and applicable law and accounting practices.
  • Coordinate the day-to-day relationships with banking partners, external accounting/bookkeeping firms, and audit firm.
  • Coordinate the development, review, and adoption of organization’s annual and long-term budget.
  • Support the creation of forecasts, projections, and other relevant analysis to enable decision-making and long-term planning.
  • Coordinate the production and accuracy of monthly financials, including formal financial reports as well as dashboards and other tools to enable internal decision-making.
  • Support the development of financial reporting to organization’s Board, leadership, and funding partners.
  • While Co-Impact continues being fiscally sponsored by New Venture Fund (NVF), coordinate the relationship with the NVF Finance team and ensure accuracy in monthly financials and other finance-related materials produced by them.
  • Support the preparation and submission of all federal and state filings, including Form 990 and CHAR 500.
  • Support with providing guidance to our program partners (grant recipients) on financial diligence; partner with the Grants Management team in conducting financial diligence and reviewing financial reports from program partners.
  • Support with other financial and overall operational efforts.

Qualifications, Skills, and Experience

  • Bachelor’s degree in business administration, accounting, finance, or a related discipline.
  • 5+ years of relevant professional work experience, preferably with foundations and/or non-profits.
  • Professional familiarity with financial management, strategic investment, and business transactions.
  • Experience in procurement and vendor management.
  • Experience in budget development, forecasting, and financial planning.
  • Experience in coordinating banking and accounting relationships and coordinating annual audit processes.
  • Strong knowledge of financial and accounting best practices, including US Generally Accepted Accounting Principles (GAAP); demonstrated understanding of non-profit accounting related to 501(c)(3) organizations, including sophisticated fund and grant accounting, compliance, and reporting.
  • Familiarity with state, federal, and international laws and regulations concerning tax-exempt organizations, including IRS regulations impacting 501(c)(3) organizations.
  • Experience working in multiple foreign currencies.
  • Proven ability to analyze, interpret and communicate financial statements, budgets, and forecasts to diverse audiences. Proven analytical and problem-solving skills.
  • Ability to innovate process improvements, generate solutions, and ideas.
  • Experience interacting and communicating effectively with members of a complex organization at multiple levels.
  • Experience collaborating with internal colleagues and external partners to achieve goals.
  • Strong project management skills.
  • Ability to write and communicate ideas with clarity, especially in communications that blend data and narrative text.

Benefits

Co-Impact’s compensation philosophy is guided by the following three principles:

  • Equity and Fairness: Our approach to compensation and benefits is designed to ensure that our global team is treated equitably regardless of location and without regard to gender, race, or nationality.
  • Transparency: We want Co-Impact’s employees to understand our salary structure and to feel confident that they are paid equitably, and potential job applicants to have an understanding of how the role for which they are applying will be compensated.
  • Accountability: As stewards of the philanthropic resources entrusted to us so that we are able to support our program partners, we are accountable to our donors and our board, to our staff, and to the general public.

In accordance with that philosophy, we include the salary for each position in our job postings; to ensure equity within the organization and for all candidates, we will not negotiate salary or benefits. The salary for this role is US $100,000 per year plus a comprehensive benefits package that includes 100% employer-paid health, dental, and vision insurance, 3% employer match on 401k contributions (plus an additional 3% employer contribution), pre-tax transportation benefits, and paid holidays, vacation, sick, and volunteer time off. In the U.S., the position is exempt for overtime purposes.

This position is full-time. Successful candidates must have US work authorization.


Application Details

Please apply online by submitting a resume together with a one-page cover letter by August 7, 2022. In your cover letter, please confirm that you are authorized to live and work in the United States. Because we are a small team, we regret that we can only respond to applicants selected for an interview. We also regret that we are unable to participate in informational calls prior to interviews. Thank you for your understanding.

COVID-19 Policy

To center the safety and well-being of its employees, New Venture Fund requires that any employee who is required to conduct in-person activities for their job must be fully vaccinated against COVID-19 within four weeks of their start date.  This position may require candidates to be fully vaccinated against COVID-19. Accommodations may be sought and approved in accordance with the law by contacting human resources at HR@newventurefund.org.

New Venture Fund Careers

Co-Impact is a project of the New Venture Fund, a 501(c)(3) public charity that incubates new and innovative public-interest projects and grant-making programs. The New Venture Fund is committed to attracting, developing and retaining exceptional people, and to creating a work environment that is dynamic, rewarding and enables each of us to realize our potential. The New Venture Fund's work environment is safe and open to all employees and partners, respecting the full spectrum of race, color, religious creed, sex, gender identity, sexual orientation, national origin, political affiliation, ancestry, age, disability, genetic information, veteran status, and all other classifications protected by law in the locality and/or state in which you are working.

Co-Impact team members hired in the U.S. are employed directly by NVF. Team members hired elsewhere are employed through a Professional Employment Organization (PEO) engaged by NVF. Hiring arrangements are subject to change, as Co-Impact spins out at the end of the year. Co-Impact will work with relevant experts and the team member to ensure the transition has minimal impact on the initially agreed employment terms.