Vice President of Finance and Operations

Torrington, CT
Application Deadline: 
Monday, July 18, 2022
Employment Type: 
Job Type: 

Vice President of Finance and Operations 
The Foundation’s Vice President of Finance and Operations (VPFO) is the leadership role that sets the course for the Foundation’s success, mapping out the financial and operational strategies that directly impact donor fulfillment and operational efficiencies. The Vice President of Finance and Operations is responsible for all financial and accounting functions of the Foundation, and works under the President and the oversight of the Board of Directors and its Executive Committee.

 The VPFO is responsible for the following areas:

Executive Leadership: 
As a critical member of the leadership team the VPFO will serve as a primary liaison to the Board  of Directors and the Audit Committee with the ability to clearly communicate and present 
monthly, quarterly and annual financial reporting, material and metrics. In addition, the VPFO will offer financial and economic insights and analysis for decision making, strategic direction, long range planning and business modeling

Executive Overview: Financial Accounting, Investment Oversight and Stewardship: 
The VPFO will oversee all Foundation financial matters assuring that the Foundation operates within accepted accounting standards and in accordance with all legal requirements including 
contract management and government compliance.

The VPFO will serve as a critical member of the Foundation’s Investment Committee, providing essential information to assist the Committee in its investment stewardship role, including the 
determination of investment philosophy, investment policy, spending policy and other critical guidelines for the preservation and growth of the Foundation’s assets.

The VPFO will be fluent in all Foundation investment models- demonstrating proficiency in understanding portfolio composition, asset allocation, investment terminology, investment approaches, benchmarking and regulatory policy.

The VPFO will exhibit the aptitude and demeanor to compellingly communicate and present investment information to current and potential donors and fundholders and will represent the Foundation with external audiences including local decision makers and philanthropic partners.

Key Responsibilities: Financial Management

  • Oversee the maintenance of accurate financial records including, but not limited to gifts, grants, human resources, operational overhead, investments and all GL transactions.
  • Oversee AR/AP of the Foundation including expense reports and operational overhead.
  • Develop and monitor the annual budget for the Foundation.
  • Oversee administrative fee and spending policy calculations, including those for the
  • Foundation’s individualized philanthropic relationships and supporting organizations.
  • Oversee and prepare for the annual audit and financial reporting to state and federal agencies in compliance with FASB regulations and GAAP
  • Prepare financial reports, including investment reports, and present them quarterly to the Board Treasurer and Board
  • Work with the Investment Committee Chair and Investment Consultant to ensure investment policy compliance and monitor investment performance
  • Work with the Investment Consultant to produce investment performance reports and other investment relevant information for review by the Investment Committee, Board and, as appropriate, by existing and potential fund holders.
  • Oversee the creation and dissemination of the quarterly fund reports
  • Reconcile all cash and investment accounts monthly
  • Prepare monthly and quarterly reports for Board meetings, including standard financial statements, dashboards, and ad hoc reports as requested


  • Oversee the operations of the foundation and coordinate workflow, helping to manage 
  • Staff assignments while ensuring a healthy and productive work environment
  • Periodically plan, direct, and evaluate internal functions. Work toward continuous improvement of the overall administrative, management information systems, and business/ financial operations of NCCF in a manner that makes the best use of available resources including personnel, technology, time, materials and finances. 
  • Work with the president to develop protocols for staff communication and ongoing planning and professional development
  • Ensure that the foundation remains in compliance with National Standards for Community Foundations 
  • Construct and monitor reliable risk management systems including disaster preparedness
  • Review foundation policies on an ongoing basis and recommend changes and new policies as needed to ensure the foundation is operating responsibly
  • Ensure that operational processes are documented in all departments
  • Help facilitate overall problem solving for fund advisors and/or staff
  • Participate in financial & strategic planning sessions upon request
  • Partner with staff for stewardship of nonprofit, community initiative and special project funds
  • Assists president on special projects as assigned


  • Maintain adherence to the highest ethical standards with an understanding that the 
  • Foundation’s reputation is its most valuable asset
  • Maintain adherence to Board approved policies and provide timely communication with the President, the Board and its executive committee particularly with respect to any variances from policies
  • Monitor compliance with the Uniform Prudent Management of Institutional Funds Act and the Prudent Investor’s Act.

Starting salary range: $110,000 -$125,000 commensurate with experience
Schedule: full-time flexible in-house and remote office 
Benefits: Health Insurance, Employer Matching 401K, Paid Vacation, Holiday and Sick Time 
Opening: Position open to start immediately 

Please apply on the Northwest CT Community Foundation website: