Chief Financial Officer

Title: Chief Financial Officer (CFO) – Remote Reports To: Chief Executive Officer (CEO) Works With: Chief Operating Officer (COO) and the Finance & Audit Committee Chair, Controller (direct day-to-day finance partner), audit firm, outsourced tax preparer, OCIO/investment partners (as needed for accounting/reporting coordination), senior leadership and Board committees Organization Overview The J.F Maddox Foundation is a $310M family foundation in Lea County, New Mexico. Alongside its partners, the Foundation invests over $13M annually in education, social services, and community development for a greater quality of life for Lea County residents. Role Summary The CFO is the Foundation’s senior finance leader and strategic advisor responsible for high-level financial leadership, financial governance, risk management, and board-facing financial reporting. This role is designed as a remote, part-time professional services position and directs the Controller, who manages daily accounting operations and staff. The CFO ensures the Foundation has strong internal controls, accurate and timely reporting, effective budgeting/forecasting, and smooth coordination with external partners (audit firm, tax preparer, and OCIO as applicable). This role supports the CEO, COO, Finance & Audit Committee, and Board with clear financial analysis and actionable recommendations in alignment with the Foundation’s mission and goals. Key Duties and Responsibilities Financial Leadership and Governance • Serve as senior financial advisor to the CEO and Board (including Finance & Audit Committee). • Establish and maintain appropriate financial governance, oversight, and review cadence (monthly/quarterly/year-end). • Provide guidance on finance-related policy development and ensure appropriate internal control structures for a small-office environment. • Ensure that financial policies, procedures and internal controls are aligned with Generally Accepted Accounting Principles and applicable governmental, legal/regulatory, and contractual requirements. • Embody the Foundation’s Core Values and ethical principles. Financial Reporting and Oversight • Oversee the timely preparation and review of monthly and quarterly financial statements, schedules, and key performance reporting (prepared by the Controller). • Review significant journal entries, balance sheet reconciliations, grant payables reporting, and key accounting estimates. • Provide written variance analysis and financial narrative suitable for senior management and Board reporting. Budgeting, Forecasting, and Planning • Lead the annual budgeting process in collaboration with the CEO and department leaders. • Oversee cash flow forecasting and scenario planning; support multi-year forecasting tied to grantmaking and operating needs. • Provide financial models and decision support for strategic initiatives as requested. Audit Management • Lead the annual audit process; ensure readiness, appropriate workpapers, and timely completion (day-to-day managed by Controller). • Serve as the primary executive liaison with the external audit firm and Finance & Audit Committee regarding audit scope and planning, queries of management, proposed adjustments, results, and recommendations. Tax and Compliance Oversight (Outsourced Preparation) • Manage the relationship with the outsourced tax preparer; review planning items and ensure accuracy of final filings (e.g., 990-PF/990-T, state filings, excise tax considerations). • Ensure internal tracking and documentation supports accurate filings (e.g., grants paid/approved schedules and payout calculations). Investment Accounting Coordination (OCIO is Outsourced) • Coordinate with the Controller and OCIO as needed to ensure investment activity is properly recorded and reconciled for financial reporting and audit. • Provide oversight to ensure investment-related accounting and reporting aligns with policy and audit requirements (without serving as the investment manager). • Maintains strategic relationship with OCIO • Reviews investment performance and policy alignment • Oversees Investment Committee reporting Risk Management and Controls • Ensure proper segregation of duties and strong controls across all financial functions • Advise on improvements to accounting policies, finance procedures, and documentation. • Provide finance-related risk input (including insurance/contract compliance as appropriate to finance oversight). People Leadership • Provide functional leadership to the Controller; support performance expectations, training priorities, and professional development. • As needed, participate in hiring/selection support for finance roles, in coordination with the CEO/COO. Qualifications / Requirements • Bachelor’s degree in Accounting, Finance, or related field required; CPA strongly preferred; Master’s degree a plus. • 10+ years of progressive finance/accounting leadership experience; nonprofit/foundation, fund accounting, or complex investment-accounting exposure preferred. • Demonstrated expertise in financial reporting, audit management, internal controls, budgeting, forecasting, and board communications in an organization with a $2M+ annual budget. • Ability to translate financial concepts to non-financial stakeholders; excellent written and verbal communication skills. • Strong proficiency with Excel and financial software systems; experience with Sage Intacct preferred. • Strong ethical principles and high integrity. Work Structure • Remote (expected to support monthly close review, quarterly board cycles, annual budget, and audit/tax timelines). • Occasional travel to Hobbs, NM will be required for key planning sessions or board meetings (as needed).