Chief Financial Officer

Position Overview

The Chief Financial Officer (CFO) at Possibility Labs (PL) plays
a pivotal role in driving financial oversight, ensuring grant and
grantmaking compliance, delivering against the organization’s
mission and strategic vision, and fostering a culture of
accountability and collaboration. With a primary focus on financial
oversight, they lead finance and compliance efforts, ensuring
adherence to all applicable laws, regulations, and standards.
Spearheading PL’s accounting policies and processes, they
facilitate timely financial reporting and lead the annual budgeting
process in collaboration with the Collective Leadership Team.
Managing all accounting functions and consultants, including
outsourced teams, they maintain accurate books, reports, and tax
filings. The CFO ensures that all Possibility Labs grantmaking
processes and policies adhere to IRS regulations and that both we
and our partners consistently maintain compliance with funder grant
agreements. Additionally, the CFO oversees the provision of
financial information for grant proposals and reports. This role
oversees the Finance and Compliance Team, is a member of the
Collective Leadership Team, and reports to the CEO.

About Possibility Labs (PL)

BIPOC-led movements and power building initiatives, as well as
funders and donors who want to fund BIPOC-led social movement
groups, need effective and values aligned infrastructure to gather
and deploy money at the speed and scale necessary to build the
power needed to create a world where BIPOC and historically
low-income communities have self-determination.

Possibility Labs’ mission is to accelerate and empower
community-driven solutions that are built, led, and governed by and
for low-income and BIPOC communities, by providing the essential
financial and legal infrastructure to manage and move integrated
capital to BIPOC-led movement groups. We aim to advance racial,
gender, and climate justice, and a new economy where everyone
thrives.

Core Responsibilities 

FINANCIAL OVERSIGHT (40%)

Spearhead oversight of PL’s financial
operations, serving as lead in finance and compliance
Responsible for financial strategy
and related systems design

Provide oversight for PL’s accounting
policies and processes: ensure timely delivery of monthly financial
reports, efficiency and value-alignment of the accounting policies
and processes, spearhead the annual budgeting process in
collaboration with the accounting team
Manage all accounting and business
functions and consultants, including an outsourced accounting and
tax team, providing necessary information and supporting
documentation to maintain accurate books, reports, and timely tax
filings
Review and distribute prepared
financial statements and expense projection and tracking for
Possibility Labs and PL partners, in collaboration with the
Operations Team. 
Evaluate and improve financial
controls, processes, and operations in support of strategic goals
and organizational growth

Monitor organization’s fiscal
performance by measuring and analyzing data (including but not
limited to budget variances), suggesting corrective actions when
necessary
Develop practices that reinforce
individual accountability and support organization-wide compliance
and expense reporting policies
Serve as primary liaison to the Board
of Directors on financial matters, sharing comprehensive reports on
the organization’s fiscal health on a regular basis
Proactively seeks opportunities to
deepen knowledge of the field, including social finance and
investment, integrated capital, and new economy
Oversee the annual audit process and
tax filings, in partnership with the external accounting team and
the Audit Committee of the Board of Directors
Lead the organization’s efforts to
identify and partner with financial institutions and products that
align with our mission and core values
Evaluate and guide thinking on
mission-aligned investments and cash management strategies
Identify and help actualize
opportunities for the organization and its partners to advance the
establishment of a just economy, using innovative financial
vehicles such as impact investing and the deployment of
non-extractive integrated capital

GRANT LIFECYCLE COMPLIANCE (40%)

Ensure adherence to all IRS
regulations and compliance with applicable federal, state, and
local laws and financial guidelines
Develop and oversee internal policies
and procedures to guarantee compliance throughout the grantmaking
process
Monitor and ensure compliance with
grant agreements, managing both internal and partner obligations
effectively
Conduct regular compliance audits and
reviews to identify potential areas of vulnerability and risk;
develop corrective action plans for resolution of problematic
issues
Provide strategic oversight and
guidance on the administration of grants, ensuring alignment with
the organization’s mission and compliance requirements
Facilitate training programs for
staff on compliance-related matters, enhancing awareness and
understanding of regulatory issues affecting grantmaking
Collaborate with legal counsel and
advisory teams to keep abreast of changes in laws and regulations
that impact grantmaking activities
Prepare and present reports on
compliance activities and issues to the Board of Directors and
senior management
Lead the integration of compliance
controls into the performance and risk management systems within
the organization
Manage relationships with external
regulators and auditors, representing the organization in matters
related to compliance audits and inquiries

LEADERSHIP & MANAGEMENT (15%)

Build, motivate, lead, and support a
high-performing finance and compliance team
Establish annual goals, provide
regular performance reviews and recognition, and support ongoing
professional development opportunities for the finance and
compliance team
Participate in organization-wide
initiatives and cross-functional teams
In partnership with CLT, responsible
for organizational leadership, financial oversight, and strategic
oversight of PL
In partnership with CLT, engage in
business planning focused on organizational sustainability
In partnership with CLT, maintain an
internal culture of accountability, radical transparency, and
collaborative decision making

OTHER (5%)

Support and participate in PL
activities, events, and meetings as appropriate
Maintain confidentiality of highly
sensitive information
Other duties as assigned

Supervisory Responsibility 

CFO supervises the Finance and Compliance Coordinator and
oversees the external accounting team.

Expected hours of work 

PL office hours are Monday through Friday, 9 a.m. to 5 p.m.
While expected to be available during the regular office hours,
daily schedule is flexible and will be decided in consultation with
the supervisor and based on the scope of work and organizational
needs. 

Travel  

Occasional domestic travel may be required for meetings and
conferences. 

Please note this job description is not designed to
cover or contain a comprehensive listing of activities, duties or
responsibilities that are required of the employee for this job.
Duties, responsibilities, and activities may change at any time
with or without notice.

Essential Knowledge, Skills and
Experience 

Minimum of 10 years of demonstrated
career progression and strong performance as a senior leader,
preferably in social impact sector and early stage
organizations;
CFA required and MBA/ CPA a strong
plus;
Minimum of 7 years of people
management experience;
Mix of for-profit and nonprofit
experience preferred; 
Prior customer service experience is
preferred; 
Demonstrated strong financial and
budget management, including budget development and cash flow
management;
Knowledge of legal and regulatory
compliance in a nonprofit context and familiarity with for-profit
financial operations;
A flexible, growth mindset with a
keen interest in creating innovative solutions to optimize
organizational functions;
Knowledge of PL’s field of work –
integrated capital,  new economy, impact sector; philanthropy;
DAF and fiscal sponsorship;
Knowledge of impact investing and
innovative financial vehicles;
Strong communication and
interpersonal skills (both verbal and written);
Experience and ability to effectively
work within a team, as well as to collaborate
cross-functionally;
Enjoy respectful debates and working
within a fast-paced, dynamic environment where all the answers are
not yet known and creativity is essential;
Ability to switch between
detail-intensive data processing and relationship-based interaction
with ease;
Excellent attention to detail while
keeping abreast of the big picture;
Strong experience in project
management, especially prioritizing, managing, and making progress
on multiple projects simultaneously;
Ability to handle diverse challenges
with a calm demeanor and positive outlook 
Adaptability and strong
problem-solving skills;
Working knowledge of Google Workspace
is required, and experience with Salesforce, Bill.com, Xero, Divvy,
and ability to adapt to other/emergent project management tools is
a plus; 
Practiced commitment  to
racial, economic, gender, and environmental justice;
An interest in expanding the
possibilities for transition to a new, just economy through
innovative financial vehicles (e.g. impact investing,
non-extractive integrated capital”);  and
Willingness to learn from mistakes,
and to give and receive feedback.

Position Type and Compensation 

100% FTE, exempt, salaried
position. 
Annual gross pay:
$175,000-$200,000 
100% FTE full-time is 40 hours per
week.
PL’s 100% FTE benefits package
includes: 
20 days’ vacation leave per year
14 standard holidays and 2 personal
days per year
12 sick days per year
Medical, vision, dental for employees
and dependents (enrollment effective on the hire date, and may
require a per paycheck employee contribution)
100% employer sponsored basic
life/AD&D coverage

Access to a 401K retirement plan +
company match 
Access to Healthcare FSA and Commuter
Benefits Program
Cellphone and Internet
Stipend