Chief Financial Officer [Seattle Art Museum, Seattle, WA]

Description

Through art, the Seattle Art Museum (SAM) enriches lives and engages diverse communities. As the leading visual art institution in the Pacific Northwest, SAM draws on its global collections, powerful exhibitions, and dynamic programs to provide unique educational resources benefiting the Seattle region, the Pacific Northwest, and beyond. SAM welcomes more than 750,000 visitors to its three distinct and remarkable exhibition sites in Seattle: SAM’s downtown flagship museum with 268,000 square feet of gallery space; SAM’s Asian Art Museum located in Volunteer Park in an historic 1933 art deco building; and SAM’s outdoor Olympic Sculpture Park, located on Elliott Bay and open 365 days per year with free admission. The Museum employs approximately 270 passionate and dedicated individuals, works with over 500 volunteers, and has an annual budget of $26M. It has net assets in excess of $280M and also owns 240,000 square feet of Class A commercial office space in downtown Seattle.

SAM is in the middle of an ambitious three year strategic plan jointly led by Director and Chief Executive Officer Kimerly Rorschach and the Board of Trustees.  SAM’s mission is to Connect Art to Life using a strategy that embraces inclusion and equity and reflects its location in the center of Seattle – increasingly known nationally and internationally as a region of innovation, technology, and social good.

The Position:

The successful candidate will serve as the Chief Financial Officer (CFO) for the institution, supervising all financial matters and reporting to the CEO. The CFO directs the efficient financial management of a large, complex, three campus urban art museum.  S/he will support the CEO in efforts to ensure long-term financial stability, expand creative capacity, and enhance overall institutional reputation.  The CFO oversees the Finance, Human Resources and Legal teams and collaborates with the Chief Operating Officer (COO) on all strategic and tactical matters as they relate to budget management, cost benefit analysis, forecasting needs and the securing of new funding.

The CFO will possess strong emotional intelligence and play an important role in a broad range of activities related to institutional planning and resource management.  An exceptional and open communication style is required.  S/he supervises the annual budget preparations and makes regular presentations about museum finances to the Board of Trustees and its various committees.  The CFO is expected to be a thought leader about financial matters, directing policies and procedures related to SAM’s fixed assets; Asian Art Museum expansion; revenue & cash flow management including $5M in historic rehabilitation tax credits; endowment and long-term financing; SAM’s real estate portfolio (leases, rents, and financing); insurance and risk management; purchasing; employee benefits; and organization-wide cost/benefit analyses.

The CFO must be both a strategic thinker and an articulate spokesperson for the objectives and ambitions of the institution at all times.  S/He will be a naturally curious listener and critical thinker who can translate financial language into layperson’s terms.

Responsibilities:

Job responsibilities include, yet are not limited to:

• Offer leadership and mentoring to three direct reports: Director of Finance, Director of Human Resources, and Legal Counsel.
• Direct, supervise, and improve the museum’s financial and budget process in order to fund operations, maximize investments, and increase efficiency:

• Manage the production of all financial reports, including monthly financial statements;
• Oversee the annual budgeting process;
• Review and question monthly analyses of museum’s performance;
• Reforecast annual budget as required;
• Manage cash flow and debt financing
• Review the annual audit and control income/expenses;
• Review the preparation of the 990 tax return;
• Steward risk management;
• Work with the development team to create annual and long-term fundraising goals that support the operating and program expenditure budgets.

• Institute a rigorous financial planning & analysis process in evaluating museum and staff performance meeting goals and determine areas of potential revenue enhancement, cost reduction, program improvement, and policy change.
• Oversee treasury management and collaborate with endowment investment consultant; direct investment policies and procedures; update monthly/quarterly investment reports.
• Work with department heads to establish museum-wide long-range goals and plans; ensure that day-to-day functioning of the museum meets and furthers short and long-range plans.

• Oversee personnel-related functions, including hiring, training and development, benefits planning and administration, employee coaching, and compliance with local, state and federal labor laws.
• Act as a fiduciary on retirement plan investment committee, overseeing the defined benefit and defined contribution retirement plans.

• Negotiate all non-fine art insurance contracts and act as primary point of contact for insurance broker.  Assess and manage risks, monitor claims and ensure adequate coverage for all aspects of Museum operations, as well as the art collection.

• Provide management reports with Key Performance Indicators for all sales functions for the Operations Division: general and group ticketing, shop sales, rental gallery, and private events to ensure effective management of these key areas.

• Represent the museum at professional gatherings and at civic social events, conventions, committee and various trustee and staff meetings.
• Oversee external reporting and prepare financial reports and analysis for the CEO, Finance Committee, Audit Committee, and Board of Trustees; supported by the Director of Finance and the Controller. Staff the relevant Board Committees (such as Finance, Investment, and Audit) and work with committee chairs and the CEO on committee agendas and managing the work of committees.
• Ensure that the financial management system, chart of accounts, and internal control systems are properly designed and maintained; and provide meaningful and timely information. Ensure that the key transaction systems (including fundraising, membership, store sales, museum admissions, café sales, and event ticketing) are efficiently and fully implemented and are regularly reconciled to the general ledger.
• Ensure staff using these systems is properly trained and proficient in their use.

Perform other duties as assigned by the CEO.

Requirements