Executive Director of Financial Services

Company: Norfolk Public Schools
Location: Norfolk
Posted on: February 16, 2025

Job Description:

DEFINITION

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Under the general direction of the Chief Financial Officer, The Executive Director of Financial Services has wide authority and discretion in the planning and direction of accounting and payroll functions. The incumbent plans, directs, reviews and evaluates the work of the Senior Director of Accounting, Director of Payroll and the Student Activity Funds Auditor. Provides guidance on updating policies and procedures related to financial activities concerning risk associated with operational related activities. Responsible for oversight of all reporting requirements, provide leadership through the direction, administration and maintenance of the District's cash management functions, Accounts payable, travel policies and procedures, and develops ongoing collaboration with external and internal stakeholders to ensure implementation and continued compliance to the audit requirements and recommendations.

SUPERVISION

The work is performed under the general supervision of the Chief Financial Officer. Work is performed independently in accordance with established policies and procedures of the School Board of the City of Norfolk and the Code of Virginia. Work is subject to annual external audits and is governed by state, federal, and other regulatory agencies, to include financial institutions.

ESSENTIAL FUNCTIONS OF THE CLASS (Performs a variety of duties itemized below.)

Oversight over the online automated accounting system for all financial transactions by source of funds, location, program and object. Ensure adequate internal controls are in place over the integrity of transactions processed with periodic monitoring of user access levels.

Oversee the preparation of the financial statements performed by the Senior Director of Accounting in accordance with the Governmental Accounting Standards Board.

Review and approve monthly and year-end financial reporting relating to Child Nutrition Services, grant funds, payroll, purchasing, and capital assets.

Oversee the preparation and timely submission of Annual School Reports as required by the Department of Education.

Oversee intercompany accounting with the City of Norfolk, balance sheet management, revenue recognition/reconciliation, financial statement review and reporting.

Oversee the Director of Payroll to ensure the accurate and timely processing of the payroll to include but not limited to: Virginia Retirement System reporting, required state and federal tax filings, and employee benefits.

Oversee the coordination of payroll activities with human resources, risk management, and the budget office.

Oversee under the direction of the Senior Director of Accounting, the month-end and year-end close activities.

Monitor the Student Activities funds with month end reporting over cash receipts and disbursements.

Oversee the external audit and the timeliness of meeting and submitting timely prepared by client working papers to the auditors. Responsible for implementation of agreed upon recommendations, related areas of responsibility, resulting from audit findings

Maintain ongoing and collaborative relationships with external stakeholders.

Oversee the accounting functions performed under the direction of the Senior Director of Accounting.

Establish and maintain banking relationships, monthly cash flow requirements, reporting and analysis. Maintains a close relationship with City financial officials to properly manage cash flow and investments for the School Board.

Review and approve projected cost and expenditure analysis relating to areas of financial concerns and possible budget surplus.

Train and evaluates employees to enhance their performance, and professional development as it directly to their position.

Addresses performance issues and makes recommendations for personnel actions.

Attends school board meetings and prepares such reports for the board as requested by the Superintendent and/or Chief Financial Officer.

Develops responses to inquiries from the Board, Media, and public concerning expenditure patterns and other issues relating to the cost of school operations.

Act on behalf of the Chief Financial Officer during periods of absence.

REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES

Comprehensive knowledge of the principles and practices of accounting and auditing.

Comprehensive knowledge of payroll procedures, methods, practices, and online payroll systems.

Comprehensive knowledge and understanding of financial services laws, regulations, policies, procedures and practices.

Comprehensive knowledge of the operations and organization of a large public or private sector organization.

Comprehensive knowledge of the compliance requirements, laws and regulations applicable to the public schools in Virginia.

Comprehensive knowledge of the Governmental Accounting Standards Board pronouncements.

Ability to plan, organize and direct the work of others through subordinate supervisors.

Ability to make sound judgement on new and unusual problems and questions with proactive resolution.

Ability to communicate both orally and in writing, making effective presentations to the Board, Superintendent, City Manager, Council and other top level governing bodies, community and public groups.

Skill in researching, compiling, analyzing and evaluating amounts of data which base forecast and projections relative to the future of school system activities and needs.

Strong interpersonal skills for interacting with staff, clients and upper management.

MINIMUM EDUCATION, TRAINING AND EXPERIENCE REQUIREMENTS

Bachelors' degree with a concentration or major in accounting. This position requires Ten (10) years of progressively responsible experience working in accounting of a large and complex organization (governmental accounting experience is preferred).

LICENSE/CERTIFICATION

Certified Public Accounting (CPA) preferred.

PHYSICAL ATTRIBUTES

Work involves physical effort encountered in normal office activities.

HAZARDS

Work Involves exposure to normal, everyday risk in an office environment.

UNUSUAL DEMANDS

Urgent demands from employee groups, private organizations and governing bodies to meet timely deadlines.

Keywords: Norfolk Public Schools, Norfolk , Executive Director of Financial Services, Executive , Norfolk, Virginia