Chief Financial Office (CFO) - Detroit Metro and Willow Run Airports
Reporting directly to the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) is responsible for directing and overseeing all the financial activities and functions of Detroit Metro and Willow Run Airports, including responsibility for Financial Reporting and Disclosures, Debt Management, Construction Accounting Management, Budgeting, Risk Management and Safety, Treasury and Investment Management. The CFO plays a key role in anticipating and planning for current and future financial needs and growth of the Airports. The CFO provides financial leadership and oversight of all financial operating functions that supports the achievement of the Authority’s financial goals and objectives.
Essential Duties and Responsibilities include the following. Other duties may be assigned.
- Maintain the integrity of the financial reporting and related disclosure requirements in accordance with Accounting Principles Generally Accepted in the United States of America and applicable rules and regulations
- Implement new accounting standards applicable to the Authority
- Oversee a Debt Management Program for the Airport Revenue Bonds that optimizes the appropriate mix of fixed and variable rate debt and maturities and compliance with debt covenants, including new bond issuances and bond refunding opportunities from inception to final issuance
- Maintain Authority’s compliance with all the mandatory funding requirements in accordance with the Master Bond Ordinance and Airlines Lease and Use Agreements
- Oversee the Construction Funds that supports the Authority’s Capital Improvement Plan (CIP)
- Develop the annual budget and long- term business plan as well as comprehensive monthly, quarterly and annual financial reporting and analysis
- Guide the budget development process and act as champion of budget requests through the budget approval process. Monitor use and compliance with approved budget
- Participate in Weighted Majority discussions on capital projects with airlines and present annual operations and CIP budgets to airlines and the Authority Board
- Develop and conduct financial studies, providing recommendations on proposed capital investments, develop and manage funding plans for capital projects
- Complete/coordinate the completion of applications for Passenger Facility Charges (PFCs), grants, and other funding requests and manage compliance with PFC and grants rules and regulations
- Manage an Insurance Risk Management and Safety Program that complies with applicable insurance and safety rules and regulations and FAA mandates
- Direct and oversee the management of cash and investments in accordance with the Investment Policy and applicable laws and regulations
- Oversee the financial performance of the Airport Hotel and review and approve the Hotel budget
- Communicate goals, strategic plans and needs of organization to CFO staff
- Monitor staff performances against goals and objectives and take appropriate actions for performance improvement initiatives
- Develop, initiate, enforce internal controls, policies and procedures as they pertain to financial processes and systems
- Represent the interests of the CFO Office on cross-functional Airport Teams, Senior Management Team meetings and Airport Authority Board meetings and keep Senior Management Team abreast of all current and future activities that have financial implication/impact
- Present the CFO monthly financial report to the Authority’s Board of Directors at Board meetings
- Represent the Airport Authority at professional or industry specific conferences, organizations and client/customer meetings, government hearings and promotional events
- Align CFO Office duties with Organizational goals through restructuring tasks, duties, scope and direct the growth of the CFO Office. Determine staffing and evaluate candidates for promotion or employment. Monitor and participate in employee discipline and termination activities.
Education and Experience:
Master’s Degree or equivalent in business administration, accounting or finance; AND a minimum of eight (8) years’ experience in financial management with increasing responsibilities for multi-faceted strategic planning.
CERTIFICATES & LICENSE
CPA (Highly Preferred)
REQUIRED KNOWLEDGE BASE
- Financial reporting and disclosures and evaluating the impact of implementing new accounting standards
- Principles and techniques of financial analysis and planning, strategic planning, forecasting, corporate finance and developing budgets
- Ability to work across the entire financial spectrum including accounting and financial reporting, budgeting, risk and safety management, debt and construction costs management, pension systems and cash and investment management (Treasury)
- Outstanding leadership skills with a proven ability to build high performance teams as well as financial processes and systems
- Must be able to work in a fast paced ever changing environment.