Here’s information about the role of a Finance Director at the National Contract Management Association (NCMA), formatted in HTML: “`html
NCMA Finance Director: Stewardship and Strategic Vision
The Finance Director at the National Contract Management Association (NCMA) holds a pivotal role, ensuring the organization’s financial health and contributing to its strategic objectives. This individual is responsible for overseeing all aspects of NCMA’s financial operations, from budgeting and forecasting to financial reporting and compliance.
Core Responsibilities
The Finance Director’s duties are multifaceted and demand a strong understanding of both financial principles and the specific needs of a non-profit association. Key responsibilities include:
- Financial Planning and Analysis: Developing and maintaining accurate financial forecasts, budgets, and long-range financial plans. This involves collaborating with other departments to understand their needs and projecting future revenue and expenses.
- Financial Reporting: Preparing timely and accurate financial statements in accordance with Generally Accepted Accounting Principles (GAAP). This includes monthly, quarterly, and annual reports, as well as reports for internal management and the Board of Directors.
- Budget Management: Monitoring budget performance, identifying variances, and working with department heads to implement corrective actions. Ensuring that spending aligns with strategic priorities and approved budgets.
- Accounting Operations: Overseeing all accounting functions, including accounts payable, accounts receivable, general ledger, and payroll. Ensuring that accounting procedures are efficient, effective, and compliant with relevant regulations.
- Internal Controls: Establishing and maintaining a robust system of internal controls to safeguard assets and prevent fraud. Regularly reviewing and updating policies and procedures to address evolving risks.
- Compliance: Ensuring compliance with all applicable federal, state, and local laws and regulations, including tax filings and reporting requirements for non-profit organizations.
- Audit Management: Managing the annual audit process, working closely with external auditors to ensure a smooth and efficient audit. Implementing audit recommendations to improve financial processes.
- Investment Management: Overseeing the investment of NCMA’s reserves, working with investment advisors to develop and implement an investment strategy that aligns with the organization’s risk tolerance and financial goals.
- Risk Management: Identifying and assessing financial risks, and developing and implementing strategies to mitigate those risks.
- Team Leadership: Leading and managing a team of accounting and finance professionals, providing guidance, training, and development opportunities.
Qualifications and Skills
A successful NCMA Finance Director typically possesses the following qualifications and skills:
- Bachelor’s degree in Accounting, Finance, or a related field. A Master’s degree and/or Certified Public Accountant (CPA) designation are highly preferred.
- Significant experience in financial management, preferably in a non-profit environment.
- Strong knowledge of GAAP and non-profit accounting principles.
- Excellent analytical, problem-solving, and decision-making skills.
- Strong communication and interpersonal skills, with the ability to effectively communicate financial information to both financial and non-financial audiences.
- Proficiency in accounting software and financial management systems.
- Leadership skills, with the ability to motivate and develop a team.
Impact on NCMA
The Finance Director plays a critical role in ensuring NCMA’s financial stability and long-term sustainability. By providing sound financial management and strategic financial guidance, the Finance Director enables NCMA to effectively pursue its mission of advancing the contract management profession.
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