Chief Financial Officer

Description

The Association for Diagnostics & Laboratory Medicine (ADLM) is a global scientific and medical professional organization dedicated to ensuring better health for all through laboratory medicine. ADLM’s leadership in education, advocacy, research, and collaboration helps laboratory professionals adapt to change and provide the insight and guidance patients need. Serving more than 50,000 professionals, ADLM connects laboratory research with clinical application to advance high-quality diagnostics and better patient care.

Position Summary

Reporting to the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) serves as ADLM’s senior financial executive and a member of the senior management team. The CFO leads a team of four direct reports responsible for accounting and finance and oversees an annual budget of $22 million and assets of $39.8 million. The role is accountable for financial strategy, planning, reporting, controls, treasury and investment oversight, and evaluation of the financial viability and mission impact of ADLM’s programs, products, services, and growth initiatives. The CFO will identify opportunities to diversify revenue beyond the Annual Meeting and Clinical Lab Expo, improve financial performance, and manage organizational costs.

Expanding ADLM’s reach within the laboratory and medical communities is a major pillar of the organization’s strategic plan. Each year, program and volunteer committees develop three to five new initiatives, products, and projects to support industry and association growth, with selected initiatives receiving support from a strategic growth fund for up to three years. The CFO will partner with program staff and volunteers to assess long-term financial viability, balance financial performance with mission impact, diversify revenue, and help ensure that revenue growth outpaces rising operating costs.

Key Responsibilities

Financial Stewardship

• Develop and monitor policies and procedures within generally accepted accounting principles and association guidelines. 
• Appraise the organization's financial position and issue periodic reports on financial stability, liquidity, and growth.
• Analyze studies of general economic, business, and financial conditions and their impact on the organization's policies and operations.
• Develop the annual budget and strategic initiatives portfolio. Ensure cash flow is appropriate for the organization’s operations.
• Serve as staff liaison to the Finance Committee and Board of Directors on financial matters. Develop and present financial reports and analyses to the Finance Committee and Board of Directors.
• Brief the Treasurer and CEO on activities such as custody of funds, securities, and assets of the organization.
• Establish and maintain contacts with vendors, financial institutions, and the investment community.
• Oversee the prudent management of ADLM’s investment portfolio in accordance with board-approved policies and serve as the primary staff liaison to the organization’s investment advisor.
• Oversee monthly financial close and reporting, review operating results for accuracy and completeness, analyze significant variances from budget, and ensure that accounting records comply with generally accepted accounting principles.

Executive Leadership & Strategy

• Advise the CEO on strategic, operational, and financial matters by providing timely analysis and recommendations on financial performance, revenue and expense trends, cost allocation, resource requirements, and organizational risk.
• Participate in the ongoing strategic planning process as an integral member of the senior management team.
• Oversee long-term budgetary planning and cost management in alignment with ADLM’s strategic plan.
• Engage the CEO to align financial management with short- and long-term financial planning and projections.
• Engage the Finance Committee around issues, trends, and changes in the operating model and operational delivery.
• In collaboration with the senior management team, exercise leadership in cultivating a safe, inclusive, high-performing staff culture.
• Lead and mentor staff to maintain a positive, productive working environment in alignment with ADLM core values.

Legal & Regulatory Compliance

• Coordinate and ensure compliance with tax, audit, and financial filing requirements.
• Develop and maintain financial policies and procedures.
• Coordinate ADLM’s relationship with external legal counsel and oversee the financial and risk review of association contracts, consulting counsel when legal interpretation or specialized advice is required.
• Maintain appropriate general insurance coverage.
• Serve as one of the trustees and oversee the administration and financial reporting of ADLMb retirement plan.
• Evaluate the financial sustainability and competitiveness of employee benefit and fringe-benefit programs in partnership with the appropriate internal leaders, supporting ADLM’s ability to attract and retain qualified employees.

Requirements

•  Bachelor’s degree in accounting, finance, or a related field required. CPA, CAE, or MBA preferred.
• Ten or more years of progressively responsible finance experience, including significant leadership responsibility in a nonprofit, professional membership organization, association, or similarly complex mission-driven organization.
• Experience in nonprofit financial accounting, budget development and reporting, long-term forecasting, treasury management/investments, compliance, and internal controls.
• Demonstrated ability to translate strategic priorities into financial plans, operating models, performance measures, and resource-allocation decisions.
• Collaborative, adaptable leader with a service orientation, strong judgment, and a demonstrated ability to build trust and work effectively across teams.
• A hands-on manager with integrity and a desire to work in a dynamic, mission-driven environment.
• Effective communicator with strong written, verbal, presentation, and financial storytelling skills, including the ability to explain complex financial information to executive, board, staff, and volunteer audiences.
• Strong commitment to developing team members.

ADLM is proud to be an Equal Opportunity Employer.

 ADLM cares about its employees, and offers a benefit package designed to attract, reward, and retain talented individuals who are committed to excellence in everything they do.  To learn more about our benefits, go to:  https://www.myADLM.org/career-center/careers-at-ADLM

ADLM is currently working a hybrid office schedule with staff with the ability to work remotely up to four days a week.