Chief Financial Officer (CFO)
Department: Finance Reports to: City Manager
Classification: Grade 20
FLSA STATUS: EXEMPT
RATE OF PAY: DOQ (MINIMUM ANNUAL SALARY 111,025.04) NATURE OF WORK
This is a strategic and dynamic role, requiring advanced professional, supervisory, and administrative skills to lead the City of Martinsville’s financial and auditing functions. The Chief Financial Officer (CFO) is responsible for overseeing the City’s financial operations, including accounting, budget management, payroll, purchasing, investments, debt management, and risk management. As a key advisor to the City Manager, the CFO will drive long-term financial planning, provide insightful analysis on financial performance, develop policies for financial sustainability, and ensure the city meets compliance and reporting standards. This role involves substantial coordination with department directors, external auditors, and other government officials to support strategic financial decisions and achieve the City’s fiscal goals. The position reports directly to the City Manager. EXAMPLES OF WORK
- Financial Strategy & Planning: Provides high-level direction in developing and executing financial strategies, annual budgets, and capital improvement plans. Engages in multi-year financial forecasting to inform City Council and the City Manager on revenue, debt service, and expenditure outlooks.
- Policy Development & Internal Controls: Establishes comprehensive financial policies, procedures, and internal controls across the Finance and Purchasing Departments to ensure transparency, accountability, and regulatory compliance.
- Central Fiscal Management: Directs the maintenance of a centralized fiscal control system, aligning with municipal standards and best practices. Manages all aspects of budgeting, accounting, payroll, and accounts payable.
- Revenue & Expenditure Monitoring: Reviews and monitors revenue sources and expenditure patterns; recommends adjustments and corrective measures. Provides regular updates and projections to the City Manager and City Council on cash flow and financial status.
- Financial Reporting & Analysis: Prepares detailed financial reports, analyses, and presentations, ensuring timely and accurate information on the City’s financial health. Oversees the preparation of year-end financial statements, external audits, and reports for Council review.
- Debt & Investment Management: Manages the City’s debt portfolio, including bond issuance, notes, and other instruments. Coordinates with bond rating agencies and financial advisors to optimize the City’s debt structure. Oversees the investment strategy to ensure the security and liquidity of City funds.
- Risk & Insurance Management: Administers the City’s liability insurance and risk management programs, ensuring adequate coverage and compliance with risk reduction strategies. Prepares and manages the workers' compensation and other related audits.
- Hiring and Training for Finance Staff: Responsible for hiring, training, evaluating, and overseeing personnel within the Finance and Purchasing departments. Provides professional development and guidance to foster a high-performing financial team.
- Grant & Audit Compliance: Ensures compliance with federal and state grant requirements and reporting. Confers with external auditors on audit processes and findings to maintain transparency and address any corrective actions.
- Cross-Departmental Collaboration: Works closely with other department heads to support and advise on budget adherence, financial decisions, and cost allocations. Supports grant administration and financial reporting as required by various City initiatives.
- Corporate Card & Record Management: Oversees City’s corporate credit card program and record retention systems for financial documents to maintain compliance and control.
- Community & Council Engagement: Provides presentations and educational sessions to City Council, public officials, and community stakeholders to promote understanding of the City’s financial status and policies
- Bachelor’s degree from an accredited college or university in finance, accounting, public administration, or a related field. Master’s degree preferred.
- Certified Public Finance Officer (CPFO) and/or Certified Public Accountant (CPA) preferred.
- Extensive knowledge of MUNIS or similar municipal accounting systems is advantageous.
- Minimum of five (5) years of progressive experience in municipal finance, including leadership roles.
- In-depth knowledge of municipal finance laws, regulations, accounting standards, and budgetary principles.
- Proven experience in policy development, long-term financial planning, and capital projects planning.
- Strong analytical, mathematical, and communication skills, with the ability to prepare and present complex financial information effectively.
- Sitting/Standing: The position involves frequent sitting at a desk, often for extended periods, when working on financial reports, emails, or meetings. Occasional standing or walking may be required during meetings or presentations.
- Vision: Must have the ability to focus on detailed financial reports and data analysis, requiring good vision for reading small print and interpreting charts, graphs, and digital documents.
- Repetitive Motions: The role may involve repetitive use of hands for typing, writing, and using office equipment such as phones, computers, or presentation devices.
- Communication: Must be able to communicate clearly in meetings, presentations, and with teams, both in person and through virtual platforms. Strong verbal and listening skills are essential.
- Travel: Occasional travel may be required for meetings with stakeholders, investors, and business partners, which could involve flights, driving, and walking.
- Heavy/Light Lifting: Minimal to no lifting of heavy objects is required. However, the role may require occasional lifting or moving of light items, such as presentation materials, or carrying small boxes of files or supplies.
- Mental and Emotional Stamina: The role can be demanding, requiring long hours, particularly during quarterly or annual reporting periods, strategic planning sessions, or financial audits. The CFO must be able to manage stress and maintain focus during high-pressure situations.
The CFO works primarily in an office environment, often at a desk or in a conference room for meetings. This setting is typically quiet, professional, and collaborative. Regularly collaborates with senior management, department heads, and external stakeholders like auditors, investors, and financial advisors. Occasional travel may be required for meetings, site visits, or business conferences.
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