wallace Foundation Seeks Director of Finance and Data Strategy
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The Wallace Foundation, a New York City-based independent research foundation with roots tracing back over half a century to DeWitt and Lila Acheson Wallace, founders of The Reader’s Digest Association, is seeking a Director of Finance and Data Strategy. This newly created position offers a unique opportunity to lead the institution’s financial operations and data infrastructure, shaping its future direction.
the foundation’s mission, to help all communities build a more vibrant and just future by fostering advances in the arts, education leadership, and youth development,
underscores the importance of this role in ensuring efficient resource allocation and informed decision-making.The Director will report to and collaborate closely with the Chief Financial Officer (CFO) as a member of the Finance and Operations team.
Responsibilities: A Blend of Finance and Data Expertise
This multifaceted role demands a unique blend of financial acumen and data proficiency. Responsibilities include reviewing and documenting financial operations, identifying areas for betterment, and collaborating with the CFO to implement strategies that streamline workflows and optimize systems. The accomplished candidate will also be responsible for developing and implementing a complete data strategy, building a robust data infrastructure, and creating dashboards and reports to support organizational decision-making.
Further responsibilities encompass advanced financial planning and analysis, including annual and long-range planning, budgeting, forecasting, and monthly re-forecasting. The Director will also conduct scenario planning and ad-hoc analysis to support organizational stakeholders and develop financial models to support long-term initiatives and strategic goals.The position also includes providing ad hoc budgeting and financial planning support to grantees and partners.
Qualifications: A Proven Track Record and Advanced Skills
The ideal candidate will possess 8-10 years of experience in finance-related roles, with a demonstrated track record of leadership and impact. Experience in rolling out systems and process changes across teams and organizations, preferably in a nonprofit setting, is crucial. Experience with endowed organizations or those with significant balance sheet reserves is strongly preferred, as is experience with grants management systems.
The position requires advanced proficiency in Excel, Power Query, and Power BI; experience with airtable is a plus. Strong analytical skills, excellent dialog and interpersonal skills, and a commitment to accountability, transparency, and high-quality customer service are essential. A bachelor’s degree in finance, accounting, business management, data science, or a related field is required; a CPA designation is preferred.
Compensation and Benefits: A Competitive Package
The Wallace Foundation offers a competitive salary range of $233,377 to $259,308. The thorough benefits package includes a choice of health insurance plans and a healthcare reimbursement account, a new stand-alone mental health benefit, a 403(b) retirement plan with a 15% employer contribution upon eligibility, and a community service matching gifts program.
The foundation operates on a regular in-person schedule of Tuesday-Thursday, with the versatility to work remotely on Monday and Friday.
Request Process
Interested and qualified candidates should submit their resume and cover letter to Courtney Keegan via email at [email protected].
Shaping the Future: How Finance and Data Strategy Drive Impact at The Wallace Foundation
An expert in nonprofit finance and data strategy,Dr. Evelyn Hart, offered insights into the significance of this new role. Dr. Hart stated,The Wallace Foundation’s pursuit of this role underscores a pivotal shift in the nonprofit landscape. Historically, financial leaders in such institutions focused primarily on stewardship and transparency. However, the integration of data strategy reflects a transformative approach where finance is not just about accounting but about leveraging data for strategic decision-making.
She further emphasized the challenges and opportunities this role presents, highlighting the need to harmoniz[e] financial operations with data infrastructure.
According to Dr. Hart, the successful candidate will distill financial insights from vast datasets, ensuring resources are allocated efficiently to advance the foundation’s mission.
The ability to communicate complex financial scenarios clearly to stakeholders
was also cited as a critical skill.
Dr. Hart concluded by emphasizing the potential long-term benefits of this approach, stating that In the long term, the integration of finance and data strategy will enable a more dynamic response to both opportunities and challenges. It facilitates innovative program development and resource optimization,aligning closely with strategic priorities.Such alignment not onyl strengthens the foundation’s operational capacity but also amplifies its impact on communities, helping to build a more vibrant and just future.
Headline: How Finance and Data Strategy Are Powering Nonprofit Impact at The Wallace Foundation
Opening statement:
In the ever-evolving world of nonprofit management, a groundbreaking role has emerged at The Wallace Foundation, blending finance and data strategy to create a robust framework for future innovations. This role signals a new era where financial stewardship meets strategic data utilization to drive impactful change. Join us as we delve into the transformative importance and potential of this integration with insights from Dr. Evelyn hart,a leading expert in nonprofit finance and data strategy.
Senior Editor:
Dr. Evelyn Hart, it’s a pleasure to have you here. What thrilling insights can you offer on The Wallace Foundation’s creation of this unique Director of Finance and Data Strategy role,and how does it shape the future of nonprofit organizations?
Dr. Evelyn Hart:
Thank you for having me. Indeed, this role embodies a visionary approach to nonprofit management. Traditionally, financial roles within nonprofits focused on maintaining financial health and ensuring openness. Though, the introduction of data strategy acknowledges the power of analytics in guiding strategic decisions. This convergence of finance and data allows institutions like The Wallace Foundation to leverage vast datasets to reallocate resources more efficiently and effectively, ultimately enhancing their mission to support arts, education, and youth growth.
Senior Editor:
How does this integration of finance and data strategy represent a shift from conventional nonprofit practices?
Dr. Evelyn Hart:
The chief shift here lies in transitioning from solely managing finances to using financial insights to drive broader organizational strategy. In the past, financial operations were often siloed, with little interaction with the data-driven aspects of decision-making. By combining these realms, nonprofits can undertake advanced financial planning, scenario analysis, and budget forecasting.this integration harmonizes financial operations with data infrastructure, ensuring that every financial decision is backed by robust data insights.
Senior Editor:
Could you provide real-world examples on how nonprofits can benefit from a Director of Finance and Data Strategy in their institution?
Dr. Evelyn Hart:
certainly! Consider a nonprofit focused on education leadership that utilizes grant management systems for fund allocation. A Director of Finance and Data Strategy would employ advanced data tools to track program success, analyze spending efficiency, and forecast future funding requirements. This empowers the nonprofit to report more effectively to stakeholders and allocate resources to high-impact projects. For instance, by analyzing donor data and grant outcomes, the strategy can help refine grant requests to maximize funding opportunities.
Key Benefits for Nonprofits:
- Enhanced Decision-Making: utilize data-driven insights for more informed strategies.
- Resource Optimization: Streamline budgeting processes for effective allocation.
- Stakeholder Interaction: Deliver clear, data-backed presentations to stakeholders.
Senior Editor:
What challenges might the Director face in this dual role, and how could they overcome them to maximize the role’s potential?
Dr. Evelyn Hart:
The foremost challenge will be harmonizing financial management with data analytics, which often involves cultural and procedural shifts within the organization. It requires advanced proficiency in analytical tools and a commitment to fostering a data-centric culture. To overcome these obstacles,the Director should focus on continuous learning and skill development,cultivating strong relationships across departments,and ensuring transparent communication with stakeholders to highlight the strategic benefits of this integration.
Senior Editor:
Looking ahead, how do you see this integrated approach influencing the nonprofit sector in the long term?
Dr. Evelyn Hart:
In the long term, the amalgamation of finance and data strategy is poised to reshape the nonprofit sector immensely. It not only fortifies an organization’s decision-making capacity but also paves the way for innovative program development. As nonprofits increasingly embrace data-driven strategies, they can identify emerging trends, dynamically respond to opportunities or challenges, and ultimately amplify their impact.This approach aligns operational capacity with strategic mission priorities, fostering a more vibrant and just future for communities worldwide.
closing thought:
This transformative role underscores the necessity of modernizing nonprofit strategies through the marriage of finance and data. As the Wallace Foundation leads the charge, other nonprofits are sure to follow, heralding a future where data is not just a tool but the backbone of strategic innovation.
Engage with Us:
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