Finance Director

Magen David Yeshivah | Brooklyn, NY, United States

Posted Date 5/20/2022

Position Summary

Effectively manage all financial and accounting tasks for the organization ensuring that accounting procedures conform to generally accepted accounting principles and that internal policies and controls are followed. Operating budget of $40 million.

Primary/Essential Responsibilities and Duties

  • Develop and maintain timely and accurate financial statements and reports that are in accordance with generally accepted accounting principles (GAAP)
  • Develop and implement processes, and ensure compliance with internal financial and accounting policies and procedures
  • Ensure that all financial-related statutory requirements of the organization are met including Charitable Status, tax management, and grant reporting

· Ensure the accuracy and consistency of data for accounts payable, accounts receivable and the general ledger

· Utilize accounting software effectively to meet the needs of the organization

  • Budgets – Establish guidelines for budget and forecast preparation, and prepare the annual budget in consultation with the Board of Directors and ED

o In collaboration with ED, Principals, department heads and Board members, review and analyze organizational requirements including tuition and collection analysis, payroll analysis and the preparation of supporting schedules for all departments

o Prepare budget vs. actual monthly and year-to-date reports for all departments including detailed backup

  • Cash management- Manage organizational cash flow forecasting to assess the financial efficacy of program operations and establish finance and administrative systems to support operations

o Monitor daily bank position for check clearing and availability of funds for payment of invoices and payroll

o Project near term cash requirements

o Manage and oversee all bank deposits and bank reconciliations

o Execute wire transfers, stop payments and other bank transactions

· Accounts payable – Manage accounts payable to review open invoices and the schedule for checks to be cut each week

  • Supervise Accounts Payable Department
  • Payroll - Oversee all payroll functions to ensure that employees are paid in a timely and accurate manner
  • Supervise payroll processing for multiple payrolls

o Maintain master pay rate schedule and work with payroll department to resolve any issues

o Manage and coordinate all payroll tax reports and payments in compliance with government regulations

· Audit Functions - Prepare all supporting information for the annual audit and liaise with the Board's Audit Committee and the external auditors as necessary

o Work with outside accountants to coordinate the annual audit

o Meet with auditors to plan audit, support the audit process, and review final results

o Provide final G/L with journal entries

o Prepare supporting schedules for relevant accounts

o Post adjustments as needed

· Manage financial accountability for organization grants, including tracking receipts and expenditures from all funding sources

· Maintain fixed asset schedules

· Record cash receipts from the tuition management system and post all financial transactions to the general ledger

· Work with HR, grants, development and tuition departments and staff as needed

· Prepare reports for various fundraising campaigns throughout the year

· Handle special projects and reports as needed

· Attend meetings with and provide information to Board members as needed

General/Other Responsibilities and Duties

  • Ethical Conduct: Understand ethical behavior and business practices and ensure own behavior and the behavior of others is consistent with these standards and aligns with the values of the organization
  • Build Relationships: Establish and maintain positive working relationships with others both internally and externally to achieve the goals of the organization
  • Communicate Effectively: Speak, listen and write in a clear, thorough and timely manner using appropriate and effective communication tools and techniques
  • Focus on Organizational Needs: Anticipate, understand, and respond to the needs of stakeholders within the organization to meet or exceed their expectations within the organizational parameters
  • Foster Teamwork: Work cooperatively and effectively with others to set goals, resolve problem, and make decisions that enhance organizational effectiveness
  • Lead: Positively influence others to achieve results that are in the best interest of the organization
  • Make Decisions: Assess situations to determine the importance, urgency and risks, and make clear decisions which are timely and in the best interests of the organization
  • Organize: Set priorities, develop a work schedule, monitor progress towards goals, and track details, data, information and activities
  • Plan: Determine strategies to move the organization forward, set goals, create and implement actions plans, and evaluate the process and results
  • Solve Problems: Assess problem situations to identify causes, gather and process relevant information, generate possible solutions, and make recommendations and/or resolve the problem
  • Think Creatively: Consider ways to develop and enhance processes to better meet the ongoing needs of the organization

Required Skills and Qualifications

· Degree in Accounting; CPA a plus

· A minimum of ten years accounting experience including audit experience

· Previous supervisory experience

  • Knowledge of federal, state and local financial regulations
  • Ability to analyze financial data and prepare financial reports, statements and projections
  • Knowledge of short and long term budgeting and forecasting

· Strong interpersonal and communication skills (both verbal and written)

  • Ability to work with a diverse group of people including staff, Board of directors and external accountants/auditors

· Ability to safeguard confidential information and perform with a high level of discretion, professionalism, and integrity

· Strong planning and organizational skills

  • Strong analytical skills and detail-orientation
  • Strong proficiency in Microsoft Office including advanced Excel skills; significant accounting software knowledge

We are an Equal Employment Opportunity employer offering:

  • A competitive salary will be based on education and experience
  • Comprehensive benefits package
  • A 403(b) retirement plan with a 5% company match (starting with the 2022-23 school year.)
  • Tuition Reimbursement
  • School paid lunch.
  • Continuous school-wide Professional Development
  • The school year is consistent with the Jewish calendar and closed during the summer.

 Now is an exciting time to join us!

About the School:

Established in 1946, the mission of Magen David Yeshivah is to ensure and globally support the continuity of Sephardic communities through education. Its vision is to develop a new, globally recognized center of excellence that prepares students to excel academically, graduate college as well as professional graduate schools, and apply their unique talents in the world to create economically independent and personally fulfilling lives

Full Time
Accounting & Finance
Organization Type
Retirement Plans | Dental | Kosher Food Option Available | Leave Early for Shabbat | Life Insurance | Medical Insurance | Paid Holidays | Paid Vacation | Parental Leave | Sick Days | Vision
Job Location

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