Chief Financial Officer

About IFF

Grounded in equity and deep sector expertise, IFF champions nonprofits to shape more equitable and vibrant communities through community-centered lending, development and real estate consulting. They do this by bringing together a powerful combination of financial solutions, real estate and development expertise, sector knowledge, and research and evaluation capacity to accelerate positive social impact and systems change.

Headquartered in Chicago, with regional offices in Cleveland, Columbus, Detroit, Grand Rapids, Indianapolis, Kansas City, Milwaukee, and St. Louis, they serve nonprofits and communities throughout the Midwest.

Key to IFFs success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest they help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and healthy food grocery operators. Staff contribute extensive business experience and an unrivaled connection to the mission of IFF to the clients they serve.

IFF is a Community Development Financial Institution (CDFI) certified by the U.S. Department of the Treasury and one of only a few nationally to hold the top-ranked Aeris four-star rating for impact management and AAA rating for financial strength and performance. IFF is also a member of the Chicago Federal Home Loan Bank.

Equity, Diversity, and Inclusion

Partnering to create thriving communities is at the heart of everything they do. They leverage knowledge, capital, and resources to advance equitable and transformational outcomes in under-resourced communities, guided by their commitment to be an inclusive, anti-racist and anti-oppressive institution that honors communities as asset-rich and as experts in their own stories.

Learn more about IFF at https://iff.org/.

The Opportunity

IFF is seeking a strategic Chief Financial Officer (CFO) who will be responsible for the overall financial health and growth of the organization. In addition to establishing and executing on financial strategy, the CFO oversees IFF’s financial management including financial controls, accounting, budgeting, cash management and overall organizational liquidity. The CFO manages investor relationships and works with the CEO and other senior leaders to continually develop new strategies and implement plans for obtaining new capital and diversifying capital sources. The CFO manages a high-performing team of 21 which includes the finance, information technology and asset management divisions. As a member of the senior leadership team, the CFO advises IFF’s business units, evaluating and assisting them with their financial plans and economic modeling and interacts regularly with the Board of Directors and its Finance Committee.

The ideal CFO will be an experienced leader with a passion for IFF’s mission of improving communities and proven experience managing the financial aspects of an organization.

Personable, with a solutions-orientation, the ideal candidate will foster strong working relationships both internally and externally to ensure the organization’s success. While it is essential that the CFO bring deep financial skills to ensure compliance and sustainability, it is also critical that they exhibit creativity and an entrepreneurial spirit and think broadly about how to attract new capital in order to drive significant organizational growth.

Key responsibilities include:

Financial Strategy and Planning

· Develop, refine, and implement IFF’s financial strategy.

· Develop tools and systems to provide critical financial and operational information to the CEO and senior leadership team and make recommendations on strategy and operations.

· Develop, monitor, and implement IFF’s financial forecast, analyzing and recommending change in assumptions as needed.

· Participate with officers and the Board to establish IFF’s strategic direction.

· Drive an integrated annual budgeting and planning process.

· Serve as the lead for the IFF Board’s Finance Committee. Assist in establishing committee objectives and meeting agendas and preparing information and materials for board and committee meetings.

· Share best practices in the CDFI field and proactively seek opportunities for IFF’s growth.

Capital Raising

· Work in close cooperation with the CEO and other senior leaders to develop new, and expand existing, relationships with CRA motivated banks, capital markets, government, philanthropy, and other impact investors that provide critical capital to support IFF’s lending and real estate development programs.

· Participate in or lead relationship management of all funding and financing relationships.

· Manage capital renewals of existing investors.

· Participate in or lead development of government or special programs providing capital.

· Work with the Resource Development Department to develop proposals and applications for grants and other capital.

Financial Management and Compliance

· Oversee general accounting operations including tax and insurance.

· Establish and maintain appropriate internal controls.

· Provide monthly financial reports and forecasts.

· Monitor organizational performance against both the annual budget and IFF’s long-term plans.

· Manage and advise on investment policies and manage investments and liquidity.

· Develop and maintain asset/liability matching capability.

· Oversee annual financial audit, ratings, and governmental audits.

· Serve on IFF’s Internal Credit Committee to review and modify IFF loan recommendations.

· Oversee compliance with all funders, government, and investor restrictions and covenants.

Information Technology

· Oversee the development of IFF’s IT and Data strategy and make recommendations for investment in IT systems, procedures, and training.

· Oversee hardware/software development and procurement.

· Oversee management and disposition of IFF’s owned real estate assets including affordable housing units, commercial real estate, vacant land, and OREO.

Commitment to Diversity, Equity and Inclusion

· Demonstrate a deep belief in the power of diversity, equity and inclusion to positively impact an organization and commit to continuous learning on issues of DEI.

· Promote an environment of empathy and respect, ensuring the inclusion of all team members.

Candidate Profile

The ideal candidate will have the following professional and personal qualities, skills, and characteristics:

· Significant work experience in increasingly responsible positions in financial management, accounting, and general management.

· Experience raising capital from a range of investors and funders.

· Ability to hire, mentor and inspire teams to achieve stated goals.

· Knowledge of fund accounting and requirements of reporting to foundations.

· Highly developed relationship skills and an ability to communicate effectively with a broad range of stakeholders.

· A transparent approach to work, sharing information as able and modeling open communication and cooperation.

· Commitment to valuing and supporting differences in others and creating an inclusive work environment.

· Focus on modeling personal accountability that promotes ownership and engagement.

· Experience working within a financial institution is highly desirable.

· MBA or equivalent required; the addition of a CPA is desirable.

Compensation & Benefits

Salary is competitive and commensurate with experience. The salary range for this role starts at $225,000 with a generous benefits package. The exact salary that will be offered to the CFO will be determined based on a consideration of the successful candidate’s skills, experience, and geography and aligned with IFF’s compensation policies.

Contact

Koya Partners l Diversified Search Group has been exclusively retained for this engagement, which is being led by Erin Reedy and Liz Ewing. Submit a compelling cover letter and resume by filling out our Talent Profile. All inquiries are strictly confidential.

IFF values equity, diversity, and inclusion as part of its mission to strengthen nonprofits and the communities they serve. IFF is an equal opportunity employer and is committed to building and maintaining a culturally diverse workplace that is free of discrimination and harassment of any kind. We encourage women, minorities, individuals with disabilities and veterans to apply. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, veteran status, or any other status protected by the laws or regulations in the locations where we operate.

About Koya Partners l Diversified Search Group

Koya Partners, a Diversified Search Group company, is the nation’s premier search firm dedicated to mission-driven leadership. Since its founding in 2004, Koya has had an exclusive focus on mission-driven clients and was founded on the belief that the right leader can transform an organization and have a deep and measurable impact on our world. Koya works with nonprofits & NGOs, responsible businesses, and social enterprises in local communities and around the world.

Diversified Search Group is consistently recognized by Forbes on its top 10 list of “America’s Best Executive Recruiting Firms” and is an industry leader in recruiting transformational leaders for a changing world. The firm is deliberately different in its approach, with best-in-class teams who have decades of experience in cultivating inclusive leaders, understanding the dimensions of diversity, and building equitable teams.

Learn more about Koya Partners l Diversified Search Group via the firm's website.