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Chief Financial Officer At Bank Street College of Education Bachelor's Degree Job

11 months ago Accounting / Financial Services Jobs New York City   313 views
Job Details


The Chief Financial Officer (CFO) will set the strategic financial vision for Bank Street and support organization-wide financial decision making. With the recent launch of a new ERP system, Bank Street finds itself amidst an exciting time of change and innovation, The CFO will help lead the organization through this change, establishing financial cohesion and collaboration across the College, with the Graduate School of Education, Children’s Programs, and professional development programs. In conjunction with the senior leadership team, this critical role will ensure the shared vision of Bank Street is infused in each division and department’s goals.

Reporting to the Chief Operating Officer (COO), the CFO will directly manage a Deputy CFO (responsible for budgeting and financial planning) as well as a Controller who in turn manages an eight-person team responsible for grants management, budgeting, payroll, accounting and student financial affairs/aid. Given the growth and changes taking place at Bank Street, the CFO will coach/lead their team to forge strong partnerships across the various programs, divisions, departments, and end users (i.e. students and families), all while fostering a customer-centric environment.

Responsibilities include, but are not limited to:

Strategic Leadership

  • Act as a strategic business partner to senior leadership at the College
  • Partner with the COO and Senior Management on operational and strategic issues as they arise; provide recommendations to the COO based on financial analysis and projections, cost identification and allocation, revenue/expense analysis and profit optimization
  • Lead the design, revision and roll out for the creation of new systems, structures and policies and adeptly manage communication and project plans to ensure thorough understanding and follow through
  • Spearhead the creation of financial models for new initiatives at the College in collaboration with the COO and other senior leaders

Finance and Accounting

  • Assess and evaluate the organization’s financial performance with regard to long-term budgetary planning and cost management in alignment with the strategic plan
  • Provide leadership and direction to their team in the areas of financial and operational reporting, accounting operations, payroll, purchasing, expense, and cash and inventory control functions
  • Develop revenue projections associated with all the various forms of business including enrollment projections as well as grant and contract revenue
  • Serve as a thought partner and coach to the Deputy CFO in order to:
  1. Develop and manage quarterly and annual budgets, monitor progress and present operational metrics both internally and externally as needed
  2. Ensure that credit risk is balanced with business objectives, targets are met and that only valid claims with proper management authorization are paid
  • Serve as a thought partner and coach to the Controller in order to:
  1. Lead internal and external financial audits, periodic review of financial records, and implementation of agreed upon recommendations resulting from the audit findings
  2. Develop and oversee a reliable cash flow projection process and reporting mechanism which includes minimum cash threshold to meet operating needs
  3. Ensure that company financial reports are prepared in compliance with policies, directives, FASB, and SEC reporting requirements
  4. Complete and submit all required insurance, and federal and state government reports (including income, property, sales and use, payroll and other local taxes)
  • Supervise bond transactions, which will include meeting various covenant timelines and managing the overall valuation of the swap
  • Leverage technology to maximize efficiency of the financial needs of the corporation including expense management software platforms

People and Stakeholder Management

  • Identify opportunities, and lead the change management process, to establish the finance department as collaborative and customer-centric, supporting partnerships across the College and enhancing the skills of the existing team
  • Create a professional development plan for the team to increase capacity, technical knowledge base, and soft skill growth
  • Manage relationships with investment managers
  • In partnership with the COO, manage the board’s Finance, Investment and Audit Committees serving as a trusted advisor and thought partner to the Board
  • Work alongside all departments throughout the College to support finance, accounting and budget decision-making through the development and implementation of clear communication systems and timelines
  • Collaborate with Graduate School to oversee the transition (and ongoing management) of all student financial matters (a function previously managed directly by the Graduate School)
  • Support the development team by reviewing and confirming classifications for donations and gifts


The ideal candidate will possess the following qualifications:

  • BS in Accounting or Finance required, CPA desired and MBA, MPA or other Masters’ equivalent degree strongly desired
  • 8 – 10+ years in progressively responsible financial leadership roles
  • Significant experience in senior budget and finance positions at complex organizations, ideally at education nonprofits, (e.g. Charter Management Organizations/CMOs)
  • Experience and/or exposure to multiple lines of business with a demonstrated mix in both the public and private sector
  • Strong analytical capabilities including financial planning, forecasting, modeling and data analysis
  • Proven project management skills as it relates to the creation of different systems, structures and implementation of an ERP
  • Excellent communication skills and ability to work collaboratively across several divisions within the College
  • Demonstrates integrity, both in words and actions and encourage ethical behavior and decision making
  • Commitment to diversity, equity and inclusion, with ability to serve as an exemplar for the College’s values and foster an inclusive and respectful workplace
  • Collaborative approach to executive leadership, and the ability to work effectively with cross functional teams to meet goals and improve organizational performance


New York, NY


Salary and benefits will be competitive and commensurate with experience.

Bank Street College of Education is an Equal Opportunity Employer with a strong commitment to diversity in the workplace, and welcomes candidates from diverse backgrounds.

How to Apply


Company Description
Bank Street is a leader in education, a pioneer in improving the quality of classroom practice, and a national advocate for children and their families. Since its beginnings in 1916, Bank Street has been at the forefront of understanding how children learn and grow. From early childhood centers and schools to hospitals and museums, Bank Street has built a national reputation on the simple fact that their graduates know how to do the work that is right for children.