Website Boston Impact Initiative
About Boston Impact Initiative
Boston Impact Initiative (BII) is a nonprofit impact investment fund established in 2017, dedicated to developing an inclusive and equitable economy where entrepreneurs of color and their communities wield financial, social, and political power. BII accomplishes this by investing integrated capital—comprising equity, debt, and grant resources—in both for-profit and nonprofit social enterprises and community-owned real estate. Its mission extends to education and capacity-building efforts aimed at embedding economic and racial justice in place-based investment strategies. The organization is recognized as a Community Development Financial Institution (CDFI) and has successfully deployed millions in capital to promote wealth and asset-building in communities of color.
About this Role
The Director of Finance is a key strategic leader at BII during this significant period of growth. This newly created position involves comprehensive oversight of BII’s financial operations and reports directly to the Chief Executive Officer. The role is pivotal in developing and implementing the financial infrastructure and reporting systems necessary to support BII’s expansion as a certified CDFI. The individual in this position will manage internal accounting staff and coordinate with external accounting firms to ensure financial operations efficiency and compliance. BII’s financial operations encompass various functions such as treasury management, cash flow monitoring, and ensuring compliance with investment covenants. The Director will also oversee the preparation of financial statements and audits, and provide strategic policy recommendations to BII’s CEO and Board of Directors. This role includes responsibility for strategic planning, capital management, and developing sophisticated financial models to inform decision-making.
Responsibilities
- Oversee day-to-day financial and accounting functions, including treasury, reporting, and payroll processing.
- Monitor and manage cash flow needs and liquidity.
- Develop and implement comprehensive financial control systems.
- Ensure compliance with CDFI regulatory requirements.
- Manage budget development, monitoring, and reporting processes.
- Oversee financial statement preparation and audit processes.
- Coordinate funding and fundraising activities.
- Represent BII to financial partners and stakeholders.
Requirements
- Minimum 7-10 years of relevant finance and accounting experience.
- Minimum 5 years in management roles within financial institutions.
- Comprehensive knowledge of GAAP and nonprofit accounting principles.
- Experience with CDFI loan fund operations.
- Demonstrated expertise in financial modeling and strategic analysis.
- Advanced proficiency in financial software systems.
- Commitment to economic justice and racial equity.
Benefits
- Flexible work options.
- Healthcare coverage.
- Short-term disability.
- 401k plan with employer contribution.
- Paid time off and holidays.
- Annual professional development stipend.
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