Wellnest CFO - Sterling Search : Job Details

Sterling Search Inc. has been exclusively retained to recruit the new Chief Financial Officer (CFO) for Wellnest. Wellnest Celebrates 100 yearsABOUT WELLNEST Founded in 1924, Wellnest has been on the leading edge of mental health and supportive services for children and families. Wellnest pioneered early intervention programs for the 0-5 population, intensive services for at-risk children and families, skills-based mental health and housing services for young adults 16-25, and promotes collaborations with primary care providers in bringing whole-person care to the children and families in community settings. Wellnest's Socially Integrated Service model is designed to address the whole child, from 0-25, the entire family, and their communities. Through blended evidence-based clinical practices, Wellnest addresses the effects of early childhood trauma and offers youth development programs and TAY housing to enable children and youth to develop coping skills, self-esteem, and stability; and family support services to build on family strengths to promote healthy families. To achieve this end, we work in partnership with the family and engage the larger community-particularly schools and other youth service providers as we recognize that children need functional families and healthy communities to thrive. Charlene Dimas-Peinado joined Wellnest in 2016 as its new President and CEO to lead Wellnest into its next growth phase. Through her tenure to date, she has broadened the organization's financial health to $34 million annually. She has successfully leveraged her expertise in securing public contracts and private donations to expand Wellnest's best-in-class, compassionate, trauma-informed care and housing services. Under Dimas-Peinado's leadership, the organization created a new brand identity, mission, and core values - Wellnest Emotional Health & Wellness; achieved CARF Accreditation; completed new construction for the state-of-the-art Life Learning Center; expanded core services to include transitional and permanent supportive housing for transition age youth (TAY); completed Wellnest's first Permanent Supportive Housing Development project - The Nest on Florence (July 2022); and, is in the process of completing its second Permanent Supportive Housing Development project, The Nest on Jefferson (Fall 2026). Wellnest is poised for exciting growth as it explores expansion opportunities. The appointment of Jim Balla as Chief Administrative and Business Officer in 2023 reflects a strategic move to enhance leadership in new business initiatives and to develop the necessary systems and resources to support these endeavors. Wellnest has proactively established a robust infrastructure to leverage CalAIM funding. Additionally, Dimas-Peinado and her management team are actively identifying further opportunities for private funding through various managed care plans, as well as for concierge behavioral health services addressing specialty co-occurring medical and mental health conditions. The new CFO will be instrumental in evaluating these opportunities and their feasibility. The position demands more than financial acumen; it requires a strategic, visionary leader and a collaborative thought-partner to Dimas-Peinado and her executive team. The CFO will be a crucial addition to the leadership team in steering Wellnest through its next phase of growth and innovation in the behavioral health sector. This is a phenomenal opportunity to join a best in class nonprofit as it continues to expand its range of services and impact. POSITION DESCRIPTIONROLE SUMMARY The Chief Financial Officer plays a vital role in shaping the organization's financial future. Reporting to the President and CEO, the CFO is a strategic partner in maximizing value creation and is responsible for overseeing all financial operations, including audits, contract administration, capital planning, real estate development projects, and related public and private funding transactions for affordable housing, construction of permanent supportive housing, interim housing, facilities, and Department of Mental Health billing & reconciliation. With a budget of over $34 million, the CFO leads the development of the company's financial strategy and provides guidance on all financial matters, making recommendations and suggesting proactive strategies to keep the organization financially sound. ESSENTIAL RESPONSIBILITIES Organizational & Thought Leadership

• Oversees budget development and implementation, cash flow forecasting, development, implementation, and monitoring of short-and long-term fiscal strategic goals and other operational metrics.
• Works closely with the President & CEO, Executive Team, Leadership Team, and Board to review monthly and quarterly financial reports, dashboards, KPIs, and identify investment opportunities and associated risks.
• Effectively works with President & CEO on investment opportunities, evaluating and managing mergers and acquisitions, and develops plans for growth to increase company profit, including supporting the development of social enterprise opportunities.
• Reviews key legal agreements, including mortgages, loan documents, subordination agreements, and guarantees as part of a financing and construction loan process that may involve Low-Income Housing Tax Credits, Historic Tax Credits, New Markets Tax Credits, bond financing, public subsidies, and contracts.
• Effectively manages Wellnest's permanent supportive and interim housing contracts and budgets (i.e., BHCIP and California's Homekey Project), relationships with property management partners overseeing housing developments on behalf of Wellnest (i.e., The Nest on Florence, The Nest on Jefferson and The Nest on Exposition).
• Works closely with President & CEO on construction projects, managing land acquisition, pre-development and land entitlement, development and construction, post-construction and operation, including financing and capital stack (equity and debt) to finance construction projects and loans.
• Actively participates in all internal planning regarding growth plans and program expansion to ensure alignment of staffing, outreach, and training plans with financial projections.
• Collaborates with the President & CEO and Executive Leadership Team to develop and implement industry-wide best-practice policies and procedures and internal controls in accordance with COSO, GAAP, OMB, and other public and private Contract regulations.
• Effectively manages relationships with the executive team, senior leadership, board members, banks, donors, government agencies, vendors, consultants, and other internal and external stakeholders.
• Directly oversees the Finance, Accounting, Facilities, and IS Support teams.
• Effectively manages the successful utilization of multiple county, state, and federal contracts supporting mental health and housing services, i.e., DMH, DHCS, DCFS, DPSS, H & HHH, etc. Effectively manages philanthropic activities of Wellnest in partnership with the President & CEO, Advancement Department & Board.

Financial Acumen & Oversight

• Presents clear, relevant, and actionable financial information across all organizational levels.
• Proactively develops transparent forecasting capabilities that enable senior leadership to make data-driven, forward-thinking decisions in a multiprogram environment that accounts for risk.
• Oversees all accounts, ledgers, and reporting systems, ensuring compliance with regulatory and audit requirements.
• Maintains internal control safeguards and coordinates all audit and tax return activities.
• Manages the preparation of all financial reports, outlooks, and forecasts; designs and produces management reports and financial statements in accordance with GAAP and donor requirements.
• Provides strategic guidance to evaluate, eliminate, and improve manual or low-tech procedures and processes that impede efficiency.

Collaborative & Trust Building Leader

• Fosters trust and collaboration among team members and can create buy-in with varied stakeholder groups, managing through change with flexibility and poise.
• Provides guidance and direction to engage and support team members at all levels while ensuring a culture of accountability.
• Supports the training and development of the Finance and IS Support teams to promote their professional growth and effectiveness in working with county and state mental health, housing and private insurance contracts.

QUALIFICATIONSEducation and Experience:

• A bachelor's degree in Business Administration, Finance, or Accounting from an accredited college or university is required.
• A minimum of ten (10) years of progressive accounting or financial leadership experience is required, with at least three years of experience serving as a Chief Financial Officer.
• Accomplished experience in a mid to large-size non-profit organization is required.
• Experience managing multiple county and state-wide contracts, including experience managing LA County Department of Mental Health contracts, is required. Certificates, Licenses, and Registrations:
• An active Certified Public Accountant (CPA) license in California is preferred.

Knowledge, Skills, and Abilities:

• A strong commitment to advancing Wellnest's mission.
• Deep familiarity working with multiple funding sources, including local, state, and federal funding; as well as annual giving and special event charitable donations, private grant funding, and capital campaigns.
• In-depth knowledge of GAAP, uniform guidance, internal control framework provided by COSO framework, and federal, state, and local regulations regarding provisions of mental health and housing services, and real estate fiscal administration.
• Experience with taking in data from diverse departments, from contract management, philanthropy, procurement and IT to marketing and logistics, to easily identify problems and find then implement solutions.
• The ability to use critical-thinking skills to solve complex problems and plan for the future.
• Ability to manage time wisely and inspire others to do the same, delegate tasks, motivate employees and make good decisions.
• Strong ability to identify risk easily and find ways to mitigate before to prevent crisis level management. When crises are unavoidable, CFO can effectively work with various departments to contain and control crisis situations, including compliance, IT, security and human resources.
• Ability to welcome change and implement and integrate technology to improve accuracy, increase productivity, and create efficiencies.
• Experience implementing ERP systems and familiarity with MIP Fund Accounting Software, Paycom, or other HRIS and EHRS systems is preferred.
• Ability to establish and maintain effective working relationships with internal and external stakeholders.
• A proven track record of honesty and high standards for ethical business practices.
• Demonstrate cultural competence and sensitivity with diverse groups across lines of race, ethnicity, religion, sexual orientation, class, ability, gender, and other identifiers.
• Strong written and oral communication skills with the ability to communicate with diverse stakeholders, from those who work on behalf of Wellnest to other executives and investors, both verbally and in writing.
• Ability to assess decisions, considering liability, financial implications, and other possible future impacts to the organization.
• Capable of resolving unexpected and/or complex problems expeditiously.
• Strong interpersonal skills and ability to build and cultivate effective relationships with target audiences to accomplish established goals.
• Proficiency with technology, including the Microsoft Office suite (e.g., Word, PPT, and Outlook), with advanced Microsoft Excel skills.

COMPENSATION AND BENEFITS

• Annual Salary Range: $210,000 - $250,000.
• Wellnest offers a personalized benefits package from available medical, dental, and vision coverage plans and employer-paid life insurance.
• Wellnest employees benefit from an employer-sponsored 401(k) company match of up to 4% and profit-sharing contribution benefit of up to 5%.