05 Jul Chief Financial Officer (CFO)
The Monell Center is the world’s only independent, non-profit scientific institute dedicated to interdisciplinary basic research on the senses of taste and smell.
Our mission is to improve health and well-being by advancing the scientific understanding of taste, smell, and related senses. We do this by adhering to the following core values:
Commitment: We view basic science as the foundation of discovery.
Collaboration: We practice interdisciplinary science with diverse partners to inspire new perspectives and discoveries.
Open Communication: We share our knowledge widely to impact global health and well-being.
Mentorship: We train the next generation of chemosensory scientists to assure a bright future.
Broad Impact: We work across sectors to advance science that solves problems.
Join us and help support a future where Monell’s discoveries in taste, smell, and related senses promote early disease detection, prevention, and treatment; assure healthy function of these essential senses throughout life; and improve human health and well-being.
This is an exciting opportunity to join the leadership team of Monell, a dynamic organization that recently celebrated years at the forefront of smell & taste research. Reporting to the Executive Director, President of Monell, the Chief Financial Officer will act as the organization’s chief financial advisor and will be responsible for leading Monell’s Accounting and Grant Administration teams, managing annual operating budgets/forecasts, month-end close and management reporting activities, supporting business development activities and transactions and collaborations, strategic long-range planning and scenario analyses, and ad-hoc operational and strategic decision-making support. The Chief Financial Officer will also have a direct liaison role providing financial reporting, analysis, and forecasting to Monell’s Board of Directors.
This role will provide unique exposure to managing and supporting a leading research organization as it continues to grow. The ideal candidate has supported Research or an early development life sciences organization in the past, is obsessed with gaining efficiencies in day-to-day finance operations, enjoys a fast-paced environment and bringing discipline into processes. The ideal candidate has a strong management history, demonstrated skill in working with matrixed organizations, and extensive experience driving continuous improvements in financial and operational processes.
Managing Financial Operations
This person is responsible for the efficient and effective operations of the Accounting & Finance and Office of Research Administration departments, including accounts payable, accounts receivable, procurement, internal and external reporting, banking, petty cash management, compliance, journal entries, account reconciliations, and all normal operations of an accounting department. The position is also responsible for the supervision of the Office of Research Administration, including pre- and post- award government grant support, corporate partner contract administration, foundation award support, and other duties assigned to the office. The Chief Financial Officer is responsible for hiring, training, managing, supervising, providing backup, and mentoring the staff in the assigned departments.
The CFO is responsible for establishing and communicating accounting policies and procedures both internally to the Accounting & Finance department and to the larger Monell community as a whole.
The CFO is responsible for maximizing the effective use of financial resources and mitigating risks through the maintenance of controls that minimize waste and the potential for fraud.
The successful candidate will support continuous improvement efforts within the assigned departments to streamline processes and improve communication and flow of information to the business.
Forecasts & Budget
The CFO is responsible for leading, consolidating, analyzing and preparing the corporate budget for Board approval. He/she/they will ; provide financial analysis, modeling, and support for forecasting and long-range planning; preparing financial narratives, providing drivers, making presentations to senior management, the Board of Directors, and other key stakeholders, and analyzing and managing business risks/opportunities.
Working closely with the Leadership Team, Board of Directors and Finance Committee of Monell, the CFO will ensure that the Center’s financial resources support its strategic objectives and the Center’s programs and initiatives.
The individual will be responsible for overseeing the monthly accounting and reconciliations. Additionally, they will need to construct comparisons between budget/forecast and actuals, and assume responsibility for the research cost centers (reviewing requisitions and invoices). Share responsibility in executing accounting and business procedures, ensure integrity of process and support monthly and quarterly reporting to our Executive team.
- The CFO will provide support to our Business Development organization as well as be responsible for interactions and budget/actual reviews with our collaboration partners.
- Lead Financial support and analysis for regular business reviews.
- Lead financial analysis to support investment prioritization and capital allocation exercises.
- The successful candidate will be a key member of the Center’s Executive Leadership Team and will be an active, non-voting participant in the meetings of the Board of Directors. He/she/they will coordinate the logistics of the Board’s Finance Committee and any ad hoc committees established by the Board as needed.
- Partner with other areas across the organization to ensure consistent reporting views for senior and executive management on the growth and financial stability of the organization.
- Drive master data governance and partner with IT to facilitate management reporting through consistency, standardization, and automation/efficiencies.
- Proactively identify financial reporting needs for upcoming corporate exercise (forecast, LRP, budget) by partnering across functions (HR, IT, Development, Facilities & Research).
- Drive ongoing corporate reporting efficiencies and improvements by streamlining existing and future processes.
Governance and External Relations
- The CFO serves as the Center’s Treasurer, an officer of the corporation, and is entrusted with the rights and responsibilities typically assigned to the Treasurer and an officer of the corporation including but not limited to the right to sign contracts, receive or dispose of assets and borrow funds on behalf of the Center, subject to any restrictions imposed from time to time by the Center’s Executive DirectorLeadership Team and Board of Directors.
- The CFO or his/her/their designee serves as the signing official for all federal government awards and grants and is responsible for maintaining compliance with all mandated requirements of the federal government and its agencies administering the grants and contracts.
- The CFO is Monell’s principal liaison with its auditors, insurance brokers, investment managers and bankers. He/She/They will ensure compliance with all applicable financial laws and regulations and will work closely with Center leadership and staff, as well as external auditors and regulators to demonstrate compliance and, if necessary, correct
events of non-compliance.
- The CFO is responsible for maximizing the effective use of financial resources and mitigating risks through the maintenance of controls that minimize waste and the potential for fraud.
- The CFO serves as the Center’s Treasurer, an officer of the corporation, and is entrusted with the rights and responsibilities typically assigned to the Treasurer and an officer of the corporation including, the right to sign contracts, receive or dispose of assets and borrow funds on behalf of the Center, subject to any restrictions imposed from time to time by the Center’s Executive Leadership Team and Board of Directors.
- The CFO serves as the signing official for all federal government awards and grants and is responsible for maintaining compliance with all mandated requirements of the federal government and its agencies administering the grants and contracts.
Direct supervision and management of Monell’s Accounting & Finance and Research and Grants Administration departments.
While performing the duties of this job, the employee is regularly required to stand; walk; sit; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee must occasionally lift and/or move up to 35 pounds. Specific vision abilities required by this job include close vision, color vision, and ability to adjust focus. The position requires extended periods of time working at a computer terminal.
Here’s What You’ll Bring To The Table
- BA/BS in accounting or finance required; Certified Public Accountant and Masters of Business Administration (MBA) a plus.
- Five years of Senior or Executive Leadership experience with a non-profit organization with an annual budget of $10M or more and at least 50 employees.
- Strong understanding of research (grants, activities, priorities, etc) and experience supporting independent non-profit or academic research organizations.
- Advanced proficiency with Microsoft Excel and at least intermediate proficiency with Word and Powerpoint.
- Demonstrated reporting skill with accounting software and the ability to integrate data from multiple platforms into clear, understandable, and insightful reports.
- Solid understanding of Generally Accepted Accounting Principles (GAAP) and non-profit accounting standards.
- Strong Leadership and business acumen.
- Ten or more years of Financial Planning and Analysis experience preferred.
- Proven track record of strategic business partnering and influencing across internal and external leadership platforms.
- Exceptional organizational skills and attention to detail; ability to balance multiple priorities in a very fast paced, dynamic environment.
- Excellent problem solving and analytical skills.
- Excellent communication skills (both written and verbal) and presentation skills, including demonstrated ability to effectively present to executive leadership and Boards of Directors.
- Experience with tier 1 ERP systems (e.g. SAP, Oracle) and planning and reporting tools preferred.
Monell is pleased to provide you and your immediate family with a comprehensive and innovative suite of benefits, including:
- Highly competitive and inclusive medical, dental and vision coverage options
- Hybrid work arrangement; four days on-site and one virtual work day a week
- Pretax Medical and Commuter benefit
- Retirement Savings
- 403(b) Match
- Life Insurance
- Employee Assistance Program
- Flexible Spending Account Options
- Perk Shop Discounts
- University of Pennsylvania Credit Union Membership
- Generous paid time off, including:
Vacation, sick time and holidays
Year-end shutdown for one week
Paid parental leave for all new parents
This is an Executive Search that spans across several months. Initial interviews will start late August, early September. Selected candidates will be invited for Virtual and On-Site interviews through September. The Executives Search committee will make final decisions during the month of October.
If you are interested in being considered, knowing that the final decision
will not be made until October. Please submit your resume/CV, cover letter and salary requirements to Niko Cook at firstname.lastname@example.org. We have elected not to work with Search, and Recruiting forms of any kind.
Equal Employment Opportunity Statement
Monell provides Equal Employment Opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to Race, Color, Religion, Age, Sex, National Origin, Disability Status, Genetics, Protected Veteran Status, Sexual Orientation, Gender Identity or Expression, or any other characteristic protected by federal, state or local laws. This applies to all terms and conditions of Employment, including Recruiting, Hiring, Placement, Promotion, Termination, Layoff, Recall, Transfer, Leaves of Absence, Compensation and Training.