Director of Finance

Job description

Holy Wisdom Monastery is seeking an experienced and supportive Director of Finance to join our team of coworkers in bringing this organization into a sustainable and exciting future. Holy Wisdom Monastery, is located in Madison (Middleton), Wisconsin, and is home to the Benedictine Women of Madison, Inc., as well as a non-denominational retreat center with overnight guestrooms and meeting facilities. The monastery’s main building is one of the highest-rated eco-designed buildings in the world. The lovely and peaceful campus, situated on 130 acres of rolling ecologically restored prairie, savanna and woods, includes a lake, nature trails, hermitages, and two buildings used by individuals and groups for retreats, meetings and event space, overnight accommodations, and meals. More information is available at https://HolyWisdomMonastery.org.

The Director of Finance will work closely with the Executive Director, an experienced Leadership Team, and an engaged Board of Directors to ensure that the organization provides excellent stewardship of resources to carry out its mission and advance its vision and values.

Responsibilities

Mission, Vision and Values:

• Has a thorough knowledge and understanding of the history, vision, mission, values, plans, and goals of Holy Wisdom Monastery.
• Communicates direction, mission and vision of the organization to all stakeholders whenever possible.

Essential Functions:

• Maintain and assess established accounting systems, procedures, and records for Benedictine Women of Madison (BWM), and Benedictine Life Foundation (BLF) and propose changes as needed.
• Prepare and submit current financial reports for BWM and BLF.
• Be a resource to all the communities of Holy Wisdom Monastery (HWM) and coworkers responsible for developing budgets.
• Conform to the governance policies of BWM as they apply to the area of responsibility.
• Participate in Board meetings, Investment Committee meetings and Leadership Team meetings.
• Supervise Accounting Staff
  Oversee Payroll and work with outside processor to assure accurate payroll.
• All other duties as assigned which includes financial reporting duties the Board requests.

Communication, Marketing & Information:

• Work closely with all other departments/communities of HWM.
• Provide accounting assistance and reports to all departments/communities, as requested.
• Attend all meetings and gatherings as requested.
• Take minutes for Investment Committee meetings.

Direction and Policy Development:

• Annually review policies and procedures affecting the area of accounting.
• Comply with all monastery policies and directives.
• Collaborate with legal representatives, auditors, insurance providers/brokers, financial consultants and The Payroll Company.
• Review contracts on other legal documents, and determine if legal advice is needed
• Prepare corporate filings with the state and ensure timely filing.
• Manage the administrative aspects of this position with support from the Accountant/Accounting Assistant.

Facilities and Properties:

• Adhere to all policies related to decoration and care of the facilities and tools of the monastery.
• Recommend equipment, furnishing & software upgrades to increase efficiency of department.

Budget:

• Oversee the development, implementation and evaluation of the budget process for BWM, Inc. and BLF, Inc.
• Prepare and present the BWM and BLF budgets to the BWM Board.
• Analyze the monthly budget verses actual report and follow up on any errors or significant variance.
• Work with department heads to prepare annual budget and provide financial reports.
  Ensure bills are paid on time.

Financial Reporting:

• Coordinate the preparation, review, analysis and distribution of monthly financial reports.
• Clarify and answer questions about monthly financial reports.
• Prepare dashboard reports for the board.
• Prepare program reports after each program is complete.

Cash Management:

• Maintain established accounting systems, procedures, controls and records; recommend modifications and if approved, implement them.
  Manage short term funds to assure safekeeping and adequate cash flow to meet regular obligations.
• Analyze cash flow, cost controls, and expenses to guide business decisions. Process cash receipts and make deposits for BWM and transfers from BLF.
• Record daily transactions and provide appropriate reports.
• Process cash disbursements for BWM and BLF.
• Process bank reconciliations for BWM & BLF.
• Keep a close watch on all financial transactions of HWM, by departments and by individual staff members; substantiate financial transactions by auditing all documentation.
• Record recurring and adjusting journal entries as needed.

Insurance:

• Review all insurance policies on an annual basis and ensure that BWM has adequate property, casualty, liability and automobile coverage.
• Perform periodic insurance audits to ensure proper enrollments and proper employee coverage or payment disputes.

Information Technology:

• Approve and coordinate any changes and enhancements in automated financial and management information systems.
• Review, update, and maintain accounting software when needed.
• Reconcile deferred revenue, pledge, restricted and endowment accounts.
• Maintain current and previous year’s accounting files.
• Prepare 1099 forms at year end.
• Assist with annual audit and tax return.
• Interface with banks and attorneys as needed.
• Maintain financial security by following internal controls.
• Prepare monthly BWM investment reports and tax returns and send to Investment Committee members.

Human Resources:

• Act as primary contact/liaison with management, Payroll Company for new hires, terminated and separation agreements of BWM.
• Review payroll reports, procedures, and employee handbook.
• Interface with benefit providers and evaluate performance.
• Ensure adequate finances are available for the payroll process.
• Annually analyze, monitor, and evaluate benefits.
• Coordinate annual benefit review for employees.
  Act as trustee of 401k pension plan.

Research and Planning:

• Participate in operational and capital planning for BWM in accounting.

Our requirements:

• Bachelor’s degree in finance or accounting, 5-10 years of experience in a finance or accounting position, CPA or CNAP preferred.
• Outstanding knowledge of finance, accounting, and budget operations, preferably for a nonprofit organization.
• Expert knowledge of automated financial and accounting reporting systems and federal and state financial regulations.
• Experience with QuickBooks and fund accounting
• Proven ability to analyze financial data and prepare financial reports, statements and projections. Proven knowledge of short- and long-term budgeting and forecasting.
• Professional written and verbal communication and interpersonal skills. Ability to motivate teams to produce quality materials within tight timeframes.

Compensation & Benefits

Compensation will be based on experience. Our exceptional benefits include robust health, dental and vision plans, generous PTO, 11 paid holidays, life, short- and long-term disability insurance, a 401(k) plan and ability to work remotely up to 50% of the time.

How to Apply

Include a cover letter, current resume and three references. Apply here or email your application materials to info@holywisdommonastery.org with the subject line "Director of Finance Application." Applications received prior to November 22, 2024, will receive priority review.

Job Type: Full-time

Pay: $30.00 - $35.00 per hour

Expected hours: 30 per week

Benefits:

• 401(k)
• Dental insurance
• Employee assistance program
• Flexible schedule
• Health insurance
• Paid time off
• Professional development assistance
• Vision insurance

Physical Setting: Office

Schedule:

• Day shift
• Monday to Friday
• Weekends as needed

Work Location: Hybrid remote in Middleton, WI 53562

Holy Wisdom Monastery (Benedictine Women of Madison, Inc. and Benedictine Life Foundation of Wisconsin, Inc.) is an Affirmative Action and Equal Opportunity Employer. Holy Wisdom values diversity, equity and inclusion and is committed to providing an environment free from discrimination and harassment as defined by federal, state and local law. People with a criminal record are encouraged to apply.