Specific responsibilities, by category, include: Leadership & Performance Management:
- Represents the organization, both internally and externally, by supporting the strategic direction, strategic priorities, objectives, vision, mission, and values of the Authority.
- Represents the organization to key financial stakeholders, both internal and external. Establish and maintain strong relationships with all relevant internal and external parties including financial advisors, banks, and the Audit Committee of the board.
- Formulates and implements the Authority’s financial strategies, policies and programs, overseeing all finance-related activities.
- Builds, develops and motivates a competent and accountable Finance team that provides excellence in financial services in support of the Authority’s agenda.
- Instills teamwork and loyalty within the Finance team.
- Establishes and communicates reasonable performance standards for the Finance organization. Continually evaluates the performance of subordinates and provides constructive guidance for improvement and development.
- Organizes and plans departmental and/or functional activity. Anticipates needs, forecasts results, analyzes and organizes work processes and procedures, and delegates assignments and/or work tasks for results.
- Functions as a business partner and counselor to the CEO and other leaders in the organization, developing and implementing new initiatives designed to advance the Authority’s overall agenda.
- Actively contributes to the development, refinement, and implementation of the Authority’s strategic planning and business development initiatives.
- Serves as a resource to the Board of Directors, engaging with the Audit committee members around issues, trends and business challenges and opportunities.
Budget and Cost Control
- Effectively manages the Authority budget by facilitating intelligent forecasting, maintaining effective budgetary controls, constructing contingency plans to stay within budgetary constraints.
- Coordinates and directs the development of the Authority budget.
- Directs the analysis of past, current, and forecasted costs, expenditures, and the overall financial position of the Authority. Consolidates cost projections, as appropriate, to discuss with management for the development of the Authority budget.
- Prepares, as the budget officer, and in conjunction with the Chief Executive Officer and the senior leadership team, the proposed annual operating budgets and capital improvement budgets for the Authority, in accordance with all forms and requirements.
- Develops, directs, and maintains an integrated system of financial management for the Authority.
- Ensures an optimal capital structure for the Authority, ensuring that the authority meets all its financial and cash obligations at the lowest cost of capital.
- Works closely with financial advisors and representatives of funding agencies to raise capital to meet the Authority’s financial needs.
- Establishes and implements financial standards, systems and processes so as to ensure timely, accurate and meaningful financial reporting and data to facilitate business planning and decision-making.
- Oversees the issuance of all internal and external financial reports, statements, and information regarding the Authority. Ensures that procedures are undertaken to maintain the accuracy and integrity of such filings.
- Directs the regular review and management of company cash, grants, funds, and assets.
- Oversees the maintenance of adequate funds through cash and other financial forecasts to meet outstanding and future financial commitments, to include payrolls, bills, and other claims that have been appropriately authorized, calculated, and legally accounted for in a timely and comprehensive manner.
- Manages the establishment, conduct of, and adherence to auditing policies, programs, and procedures which enable efficient and complete reviews of Authority assets and accounting records.
- Ensures adherence of Authority financial policy, procedure, and practice to statutory requirements, generally accepted principles of governmental financial administration, accounting, tax and budgeting, and the actions of the Authority.
- Acts as representative of the Chief Executive Officer in dealing with independent auditors, bond advisors, fiscal agents, and all other financial consultants designated by the Authority.
Financial Planning & Analysis
- Provides financial direction, to include short- and long-term planning assistance to the Authority finance, operations, and administrative functions.
- Provides key stakeholders with timely, clear, and simple communications regarding financial performance and improvement initiatives.
- Reviews proposals for major capital expenditures to insure their conformity with Authority objectives. Supports the Authority’s asset acquisition and disposition processes, reviewing all related agreements and providing analysis of investment financial parameters, capital requirements, risks, system requirements, and implementation plans.
- Provides advice on the economic credibility of proposals and administers the Authority’s program for investment of idle cash, in accordance with established policy.
- Reviews all proposed rates, rentals, fees, or other charges for Authority’s services prior to their adoption to ensure that consideration is given to actual or properly estimated costs and recovery thereof, as well as to administrative problems related to enforcement.
- Provides guidance in the negotiation and preparation of contracts, leases, and other documents required to execute business and facility plans. Assures that sufficient levels of return on investment are maintained.
- Analyzes economic, competitor, and industry related information to ascertain impact on Authority objectives for the development of future financial plans.
- Interfaces with government representatives, bankers, and other relevant individuals and organizations in the discussion and development of financial assistance for the achievement of Authority endeavors.
- Implements or directs the implementation of programs that meet Authority goals and objectives.
- Directs and participates in acquisition and growth activities, including investigations, evaluations, and negotiations in accordance with the Chief Executive Officer.
- Ensures that all organization activities and operations are carried out in compliance with local, state, and federal regulations and laws governing business operations.
- Develops and recommends standard practice instructions for the Authority’s finance functions.
- Works with senior leadership team members, in the formulation of detailed short- and long-term plans, strategies, and initiatives for the Authority, including systems, services, programs, lands, and facilities, in accordance with local, state, and federal regulatory requirements, mandates, and guidelines.
- Ascertains that all fixed assets of the Authority are properly and adequately insured and that all appropriate means of insurance against non-property financial losses are utilized.
- Executes and directs specified initiatives relating to the efficient management and administration of Authority financial resources.
- Participates in industry-related associations, seminars, and remains current on business, economic, professional, and legal conditions affecting the Authority’s financial status and programs.
- Directs the performance of special financial studies and the preparation of reports.
- Other projects and functions as assigned by the Chief Executive Officer.
YEAR ONE CRITICAL SUCCESS FACTORS
The following critical success factors represent those deemed most critical to be accomplished in year one to ensure success:
- Establish strong, trust-based working relationships with the Chief Executive Officer, Senior Leadership Team, Finance staff, and the Board of Directors.
- Develop a sound appreciation of the Authority’s culture and how to both fit into it and help evolve it.
- Assess the current finance organization and develop and implement a plan to enhance it along key dimensions including staff, structure, processes, and systems.
The CFO should be a talented finance executive who works well in a fast-paced and collaborative environment. The ideal CFO candidate will be able to integrate well with the executive team that is responsive and results-oriented. He/she will be a strategic business and financial leader, with a proven track record of success. He/she should bring most, if not all, of the following:
- At least 10 years’ experience in an executive financial management position, having risen to serve as a Chief Financial Officer or direct report to a Chief Financial Officer.
- Brings financial breadth, having worked across multiple facets of the financial portfolio including corporate finance/treasury, financial planning & analysis, accounting & control, internal audit, and risk management.
- Brings greatest functional depth in finance in the areas of corporate finance/municipal finance and financial planning & analysis. Conversant but not expert in accounting but works effectively through a Controller.
- Experienced supporting a major capital program.
- Ideally, brings direct and relevant experience in the airport industry, with an appreciation for airport-specific finance issues such as airport municipal financing/bonds.
- Experience with and comfort with working in a fast-paced and highly fluid environment.
- Has worked effectively in multi-stakeholder settings, given the large number of constituents in an airport context.
- Ideally, has overseen and supported adjacent non-finance functions such as procurement.
- Demonstrated experience building and leading a finance organization including structure, staff, financial processes, and financial systems.
- Outstanding leadership abilities; a track record of building strong teams, developing people, and leading/influencing through others in a performance-driven culture.
- Experienced in applying critical thinking, problem-solving and the highest standards of personal and financial integrity in a fast-paced environment.
- Effective risk management skills.
- Excellent presentation and communication skills and the emotional intelligence to work well with a diverse group of colleagues.
- Effective and comfortable at external relations, working at the Board level as well as with advisors and financial institutions.