Careers @ Baitulmaal

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Job Opening: Chief Financial Officer (CFO)

Organization: Baitulmaal, Inc.

Reports to: Chief Executive Officer (CEO)

Works Closely With: COO, Finance Committee, CPA Firm, Audit Firm

Direct Reports: Finance Manager, AR/AP Team (functional oversight)

Location: On-site

Position Summary

The Chief Financial Officer (CFO) serves as the senior executive responsible for Baitulmaal's financial strategy and long-term financial sustainability. The CFO provides strategic leadership and oversight, ensuring financial integrity, transparency, compliance, and alignment with Baitulmaal’s humanitarian mission.

This role is not responsible for day-to-day bookkeeping or transaction processing. Instead, the CFO oversees financial systems, policies, risk management, and strategic financial planning while leveraging an external CPA firm and in-house accounting staff for execution.

Key Responsibilities

1. Strategic Financial Leadership

  • Develop and lead Baitulmaal’s long-term financial strategy, aligned with organizational mission, programmatic priorities, and growth plans.
  • Advise the CEO and COO on the financial implications of strategic initiatives, expansion, partnerships, and international operations.
  • Lead scenario planning, multi-year forecasting, and sustainability modeling.

2. Financial Oversight and Stewardship

  • Provide executive oversight of accounting, reporting, and internal controls, ensuring accuracy, consistency, and integrity.
  • Review and interpret monthly, quarterly, and annual financial reports prepared by staff and the CPA firm.
  • Ensure timely and accurate restricted and unrestricted fund tracking in alignment with donor intent.
  • Monitor liquidity, cash flow, reserves, and financial risk indicators.

3. Audit & Governance Support

  • Serve as primary financial advisor to the Executive Team and Finance Committee.
  • Prepare and present high-level financial dashboards, variance analyses, and strategic insights to the CEO.
  • Oversee the annual audit process in coordination with the external CPA firm and Audit Committee.
  • Ensure compliance with IRS regulations, nonprofit accounting standards (GAAP), and governance best practices.

4. External CPA and Advisor Management

  • Act as Baitulmaal’s internal executive counterpart to the external CPA firm.
  • Oversee scope, quality, and timelines for:
    Audits and reviews
    • Tax filings (Form 990 and related schedules)
    • Technical accounting guidance
    • Advisory and risk assessments
  • Translate CPA findings into actionable leadership and policy decisions.

5. Budgeting, Forecasting & Financial Planning

  • Lead the annual budgeting process in collaboration with the CEO, COO, and department heads. Support impact-driven budgeting, linking financial resources to measurable humanitarian outcomes.
  • Ensure budgets reflect:
    • Strategic priorities
    • Program readiness and execution capacity
    • Realistic revenue projections and cost controls
  • Monitor budget performance and lead corrective action planning where needed.

6. Grants, Institutional Funding & Compliance

  • Support grant readiness and institutional donor requirements, including:
    • Financial reporting standards
    • Cost allocation methodologies
    • Indirect cost recovery
    • Compliance with grant agreements
  • Ensure financial systems can support multi-currency, multi-country operations.
  • Collaborate with Programs and Development teams to ensure accurate financial narratives and reports.

7. Endowment, Reserves & Asset Management

The CFO provides executive leadership and fiduciary oversight of Baitulmaal’s endowments, reserves, and organizational assets, ensuring prudent management, transparency, and alignment with donor restrictions and long-term sustainability objectives.

Key responsibilities include:

  • Lead the development and ongoing oversight of endowment and reserve strategies, in alignment with Board-approved policies and Islamic/ethical considerations where applicable.
  • Oversee relationships with investment advisors, fund managers, custodians, and banks.
  • Monitor investment performance, asset allocation, liquidity, and risk exposure; provide regular performance reporting to the Board.
  • Support strategic decisions related to capital investments and asset management, in coordination with the CEO, COO, and Board.

8. Risk Management & Internal Controls

  • Design and oversee enterprise-level financial risk management frameworks.
  • Ensure strong internal controls, segregation of duties, and fraud prevention mechanisms.
  • Oversee financial policies related to procurement, disbursements, expense approvals, and partner payments.
  • Ensure compliance with OFAC, anti-terror financing, and donor due-diligence requirements (in coordination with Compliance and Operations).

9. Team Leadership & Cross-Functional Collaboration

  • Provide strategic leadership and mentorship to finance staff.
  • Clearly delineate responsibilities between:
    • In-house finance team
    • External CPA firm
    • Operations and programs leadership
  • Foster a culture of financial accountability, transparency, and mission-aligned stewardship across the organization.

Qualifications & Experience

Required

  • CFA, CPA, or MBA.
  • Minimum 10–15 years of progressive financial leadership, including senior-level experience.
  • Significant experience in:
    • Nonprofit finance and governance
    • Governance and committee engagement
    • Managing external auditors and advisors
  • Strong understanding of:
    • GAAP for nonprofits
    • Restricted funds and donor compliance
    • IRS and regulatory requirements

Preferred

  • Experience in humanitarian relief, international development, or complex nonprofit environments.
  • Experience supporting grant-funded and institutionally funded organizations.
  • Familiarity with ERP systems (e.g., NetSuite or equivalent).

Core Competencies

  • Strategic and systems-level thinking
  • Executive judgment and discretion
  • Executive-level communication and presentation
  • Financial risk assessment
  • Ethical leadership and integrity

Performance Indicators

  • Clean and timely audits
  • Executive and Board confidence in financial reporting
  • Budget accuracy and variance management
  • Financial sustainability and reserve health
  • Grant and donor compliance success
  • Strength of financial controls and policies

Benefits (for full-time employees)

  • Competitive salary based on experience.
  • Remote work flexibility (if applicable).
  • Comprehensive benefits package, including health insurance and retirement savings plan.
  • Opportunities for professional development and growth within a mission-driven organization.

Application Instructions: To apply, please submit a resume, references, and cover letter explaining why you are interested in joining Baitulmaal, Inc. to jobs@baitulmaal.org.  In your cover letter, please also address how your skills and experience align with our mission.

Equal Opportunity Employer: Baitulmaal, Inc. is an equal opportunity employer and values diversity. We encourage applications from individuals of all backgrounds and identities.

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