Chief Financial Officer – DRCFA-ASM Global

Job Description

Job Title: Chief Financial Officer – DRCFA

Company: ASM Global

Location: Detroit, MI

Pay: $170186 per year

AI Pay Analysis: The annual salary of $170,186 for a Chief Financial Officer (CFO) position in Detroit, MI translates to an hourly rate of approximately $81.65, assuming a standard 40-hour workweek. This compensation appears to be competitive when compared to industry standards, as the average salary for CFOs in the United States typically ranges from $150,000 to $300,000 per year, depending on the size of the company and the complexity of the role. Given Detroit’s cost of living and the demand for financial leadership, this rate aligns well with both the regional market and the responsibilities typically associated with a CFO in a major urban area.

Job description:

POSITION OVERVIEW:
Huntington Place ranks as the 16th largest convention center in the United States, constructed by the City of Detroit and initially opened in 1960 under the name Cobo Hall, honoring former Detroit Mayor Albert E. Cobo (1950-1957).

In this role, the Chief Financial Officer (CFO) will report directly to the CEO and serve as a senior executive for the Detroit Regional Convention Facility Authority (DRCFA), which operates Huntington Place. The CFO will be responsible for overseeing and managing the organization’s financial, procurement, and human resources functions. This strategic position ensures operational efficiency, financial stability, and alignment with the organization’s goals across various departments, while providing leadership to a diverse team of directors and managers.

The CFO will directly supervise the Director of Finance, Director of Procurement, Director of Human Resources, and Construction Accounting Manager, fostering a collaborative environment for decision-making and cohesive operations, all while ensuring compliance with internal controls, procurement policies, HR practices, and IT governance. Furthermore, the CFO will hold fiduciary responsibilities for the organization’s 401k and 457b plans in coordination with HR.

Additionally, the CFO will maintain relationships with external parties, including auditors, financial advisors, bankers, and trustees, to support the long-term financial strategy and adhere to municipal bond market regulations.

QUALIFICATIONS:

Education:

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field is required.
• An MBA or professional certifications (CPA, CMA) are preferred.

Experience:

• A minimum of 15 years of progressively responsible management experience in finance, procurement, human resources, IT, and/or construction accounting, with at least 5 years in an executive leadership role.
• Experience in the public sector or venue management is highly preferred.
• Proven experience in managing complex financial and operational functions across various departments.

Skills:

• Strong knowledge of financial management, budgeting, procurement, HR management, and IT governance.
• Proficient in financial software systems, including Microsoft Office Suite and Dynamics 365.
• Exceptional analytical, problem-solving, and decision-making abilities.
• Strong leadership and communication skills, both written and oral.
• Proven capacity to effectively lead a diverse and multi-functional team.

KEY RESPONSIBILITIES:

Strategic Financial, HR, Procurement, and IT Management:

• Oversee the development and presentation of the annual business plan and two-year budget for Board approval.
• Ensure effective cash flow management to support daily operations and capital projects.
• Develop and implement long-term strategies across all managed departments, ensuring alignment with organizational objectives.
• Serve as a strategic partner to the CEO and the Board in financial decision-making, HR strategy, IT infrastructure, and procurement planning.

Fiduciary Responsibility for Retirement Plans:

• Act as a fiduciary for the organization’s 401k and 457b plans, in collaboration with Human Resources.
• Establish a retirement plan committee to guarantee proper management, compliance, and participant education.

Financial Reporting & Compliance:

• Ensure timely and accurate financial reporting, including monthly, quarterly, and annual reports, while overseeing the annual audit process.
• Guarantee compliance with Enabling Legislation (Act 554), the Uniform Chart of Accounts, the Budget Act, and other applicable regulations.
• Manage the submission of financial disclosures to municipal bond markets in accordance with bond covenants and financial regulations.

Capital Acquisition & Investment Management:

• Lead capital acquisition efforts for large-scale projects, working with financial advisors, auditors, and underwriters to secure funding and optimize financial positioning.
• Oversee debt service and capital investment strategies that align with the organization’s long-term financial objectives.

Policy Development & Compliance:

• Ensure compliance with internal financial, HR, and IT policies, as well as external regulations.
• Develop and recommend policies and procedures for Board approval, covering procurement, travel and entertainment, credit card usage, ethics, and best practices.
• Monitor adherence to internal controls, financial policies, and external reporting requirements to maintain financial integrity.

Public Reporting & Government Relations:

• Report on the fiscal and economic impact of organizational initiatives to external stakeholders, including local government entities.
• Provide testimony and representation before government committees to advocate for financial and operational initiatives.

Leadership & Team Development:

• Offer leadership, guidance, and mentorship to all direct reports.
• Promote a culture of accountability, collaboration, inclusivity, and continuous improvement.
• Encourage innovation and professional development within each department, aligning efforts with organizational goals and best practices.
• Lead performance evaluations and establish clear objectives to drive departmental success and operational excellence.

Functional Leadership:

• Finance: Direct the Director of Finance in overseeing financial reporting, budgeting, auditing, and analysis to assure the organization’s financial health. Manage internal financial controls, risk management, compliance, and capital acquisition strategies related to debt service obligations in collaboration with external financial advisors.
• Procurement: Oversee the Director of Procurement to ensure efficient procurement practices, contract management, and adherence to procurement policies. Approve major procurement decisions, including contracts, vendor agreements, and capital purchases.
• Human Resources (HR): Support the Director of Human Resources in establishing and maintaining strategic and transformational HR management practices. Collaborate on compensation and benefits administration, along with fiduciary oversight for the 401k and 457b plans.
• Construction Accounting: Supervise the Construction Accounting Manager in ensuring accurate cost accounting for capital projects. Oversee financial reporting and budget control to align construction expenditures with project budgets and timelines.

Other Responsibilities:

• Perform additional duties as assigned by the CEO or Board of Directors.
• Ensure adherence to legal and regulatory requirements, including Enabling Legislation (Act 554) and the Budget Act.

PHYSICAL DEMANDS:

• Work Environment: Primarily based in an office setting within a large convention center, with occasional site visits to various facility areas, including event spaces, meeting rooms, and administrative offices.
• Mobility: This role necessitates the ability to navigate the convention center to attend meetings, inspect operational activities, and engage with various departments, requiring occasional walking or standing.
• Manual Dexterity: Frequent use of hands for tasks such as operating a computer, keyboard, telephone, and other office equipment.
• Visual and Auditory Demands: Requires close vision for reading financial reports and spreadsheets, with the ability to focus on detailed work. Must be able to hear and communicate effectively both in person and via phone.
• Lifting: May occasionally need to lift or move items up to 10 pounds, such as files, reports, or office supplies.
• Travel: Minimal travel is required, although occasional off-site meetings or conferences may necessitate travel.

NOTE:
The responsibilities outlined herein may be subject to change at any time due to reasonable accommodation or other considerations. This document does not imply that the aforementioned duties are the sole responsibilities of the employee in this position.

Huntington Place is committed to equal opportunity employment practices. We encourage candidates from all backgrounds, including women, minorities, individuals with disabilities, and protected veterans, to apply. VEVRAA Federal Contractor.

Job Posting Date: Mon, 07 Oct 2024 00:35:30 GMT

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