Chief Business Official – Chief Business Officer (CBO)
Position Summary The Chief Business Officer (CBO) leads and is responsible for the finance function for Making Waves Academy (MWA). The CBO’s position rests within Making Waves Academy Schools (MWAS or “Central Office”), a division within MWA that is organized to support its campuses.
The CBO will work with the CEO, board, finance committee, and key leadership to allocate resources aligned with meeting programmatic, strategic, and financial goals. The CBO insures proper accounting systems are being followed to meet federal, state, and local financial compliance regulations. The CBO manages a staff to follow and practice GAAP, internal controls, and other approaches to insure the integrity of and accuracy of our financial records so that MWA is able to meet regulatory and audit standards. The CBO is part of an executive leadership team, under the CEO, that informs and consults on key strategic goals, challenges, and approaches.
The CBO reports directly to the CEO (as well as to the MWA Board of Directors in some instances). The CBO is responsible for establishing a strong line of communication and collaboration with internal stakeholders and leaders as well as one of our key funding entities, Making Waves Foundation (particularly their President and CFO). He/she partners with the CEO, the finance committee, the audit committee, and other key internal and external stakeholders to address and solve for daily operational challenges, growth/expansion challenges, and other finance-related challenges as they arise. Finally, the CBO communicates regularly and effectively with the CEO, the MWAS Executive Team, internal stakeholders, external constituent groups, the Board of Directors, and the finance and audit committees of the Board.
Primary Responsibilities Executive Leadership & Strategy 1. Maintain financial best practices, utilize standard operating procedures, and generally serve as a point of reference for MWA financial systems and planning – for both short and long-term goals; 2. Serve on the MWAS Executive Team and serve as an internal consultant to the CEO, COO, Board, and other key stakeholders on MWA financial matters, making recommendations and suggesting pro-active strategies to keep MWA aligned with its financial targets, programmatic growth, and organizational strategic plans; 3. Participate in high-level internal planning regarding MWA’s expansion, to ensure alignment of program with financial projections;
Financial Management 4. Support accounting, general ledger and operations functions, ensuring that systems are in place to guarantee timeliness, accuracy, and controls; 5. Provide oversight for and manage all budgets, audits, internal financial plans and processes, and work with key stakeholders to collaborate on financial forecasting for MWA; 6. Work closely and collaboratively with the Finance Committee and Audit Committee to insure MWA is meeting external compliance expectations as well as meeting fiscal oversight expectations; 7. Utilize technology to optimize all reporting, budgeting, forecasting, and analytical functions;
Reporting & Compliance 8. Establish annual priorities and benchmarks, measuring projections against actual performance, and conduct regular reporting to both internal and appropriate external stakeholders; 9. Generate weekly, monthly, quarterly and annual reports as needed to monitor, evaluate and optimize cash-flow and liquidity, and keep the senior leadership team, Board, staff, and key external stakeholders up-to-date on MWA’s financial status; 10. Ensure that MWA meets critical legal compliance benchmarks and annual audit reviews pertaining to public school finance laws and regulations for charter schools, including applied knowledge of the California public education funding system – the Local Control Funding Formula (LCFF) and the annual and Local Control Accountability Plan (LCAP) process;
General 11. Partner with CEO, COO, and other senior leaders to execute MWA’s expansion plans ensuring the organization is operationally prepared, spreading best practices and efficiencies across the organization. 12. Build relationships with key internal and external stakeholders including banks, donors, vendors, outside consultants and others as needed to keep close to and understand MWA’s major expenditures and sources of revenue; 13. Keep up with new trends in the education finance, and the financial industry in general, by attending conferences, participating in professional development, and sharing this information with the senior leadership team; and 14. Maintain a top-tier internal finance team by actively recruiting, training and developing talented accountants, clerks, consultants, auditors, and payroll staff, as needed. 15. As MWA grows, participate in updating medium and long-term financial projection models, doing pro-formas, and participating in bond reporting and related activities.
More than 15 years' experience total accounting/finance experience
At least 8 years' senior financial leadership experience in a charter school or traditional public school preferred
Must have knowledge of, and experience with, California public school accounting, finance, budget, and audit procedures as well as federally-funded program procedures
Experience with using Standard Account Code Structures (SACS) for public school fund accounting and experience with the California School Accounting Manual
Experience integrating IT/Systems to improve accounting productivity and accuracy
Experience working with external auditors, compliance and regulatory oversight
Commitment to results; 'can-do" mindset; outstanding problem-solving ability
Experience with change leadership and change management
Excellent organization and analytical skills; strong and effective problem-solving skills, ability to implement programs, procedures and systems, manage details, and work independently; ability to develop and revise; and ability to manage multiple projects simultaneously
Ability to communicate effectively: raising critical issues in a timely way, communicating with and involving stakeholders effectively, and managing up effectively in sharing potential issues and challenges in a timely and appropriate way
Ability to prioritize tasks and consistently demonstrate strong decision making and judgment skills
Ability to be flexible, patient, resilient, and adaptable to changing priorities
Strong motivational and staff leadership abilities
Excellent analytical, communication and presentation skills
Integrity and personal sense of accountability
Highly knowledgeable of Microsoft and Google Suite (particularly Excel)
Familiarity with online software such as Intacct, Concur, and Kronos
Fluency in Spanish preferred but not required
A Master’s degree in Finance (MBA preferred); Bachelor’s degree in Accounting, Finance, or related field
CPA & Top Accounting Firm experience preferred
Chief Business Officer (CBO) Certificate preferred
Additional Salary Information: Additional $12,000 Cost of Living Allowance
About Making Waves Academy
Making Waves was founded in 1989 as an education support program to help address the disparity in
educational opportunities for low-income students in Richmond, CA and to help them prepare for and
graduate from college. For decades, through comprehensive programming and services, Making Waves
has helped prepare and support first-generation college students to graduate from competitive
institutions across the country.
In 2007, Making Waves Academy (MWA) Middle School was founded, a public charter school offering a
rigorous fifth to eighth grade academic program with a focus on college and career readiness. The
Making Waves Academy Upper School opened in 2011 and provides rich academic course offerings,
career exploration and extensive college advisement.
MWA currently serves about 800 students in grades 5-12 and 95% or more of its first three graduating
classes were accepted to college. About 70% gained admission to four-year schools and 25% or more
gained admission to two-year schools. The first phase of a five-year strategic growth plan is underway,
with a new expanded middle school opening in the fall of 2018. In the future, MWA will ultimately grow
to serve roughly ...6,000 students on three K-12 campuses, while our sister organization, Making Waves
College and Alumni Program (CAP) will continue to support up to 2,000 of our alumni in persisting