The City of New Bedford, with a population of over 100,000 and which centers a region of approximately 250,000, continues to seek highly qualified applicants for the position of Chief Financial Officer (CFO) to join the leadership team of the city administration. New Bedford is a historic and culturally diverse city with livable and walkable neighborhoods, accessible job opportunities, green space, and outstanding services. Widely known as America’s most valuable fishing port, New Bedford is emerging as a leading center for the offshore wind industry.
New Bedford is governed by a Mayor-Council form of government under a Plan B Charter. The Mayor is elected to a four year term to be the Chief Executive Officer (CEO). The City Council, which consists of eleven elected members (5 at large and 6 representing wards) serving two-year terms, has the legislative power.
The Chief Financial Officer (CFO) is appointed by and works under the administrative direction of the Mayor as a member of the administrative team in accordance with applicable statutes of Massachusetts General Laws (MGL) and local charter and bylaws. The CFO oversees all the city’s financial activities, develops and implements financial policies and long-range financial planning, manages the annual budget process, evaluates business operations, and provides support to elected leadership. The position is responsible for directing and monitoring all the city’s financial operations, including the Management Information Systems, Assessors, Auditor, Purchasing, and Treasurer/Collectors Offices.
(The essential functions or duties listed below are not all inclusive, but rather are illustrations of various types of work of the Chief Financial Officer).
Coordinates and supervises all financial services and activities; develops and maintains uniform systems for all financial planning and operations in all departments, boards, commissions, agencies, and other units of city government.
Implements and maintains uniform budget guidelines and procedures, including providing direction and assistance in the development and preparation of all annual departmental budgets and spending plans in accordance with Department of Revenue (DOR) regulations.
Reviews, compiles, and recommends all annual departmental and other budgets and spending plans, requests for supplemental appropriations, and requests for transfers, revenue, and appropriations prior to submission to the Mayor and City Council.
Monitors the expenditures of all funds, including periodic reporting by or to the appropriate body, agency, or officer of the status of accounts, including the continuing review of the spending plan for each department or activity of the city.
Reviews all contracts and obligations with a term or impact of more than one year.
Manages relationships with outside financial agencies, including the bond rating agencies and Security and Exchange Commission (SEC) filing requirements. Oversees debt and makes presentations for the successful sale of new bonds.
Advises and recommends to the Mayor and City Council on procurement contract strategy, long term contracts for water and sewer utilities, and the negotiation of terms and conditions.
Reviews and makes recommendations for all proposed Tax Increment Financing (TIF) Agreements and Special Tax Assessments for potential certifies projects in the Economic Opportunity Area.
Submits to the Mayor and City Council, after evaluation of all available pertinent financial information, a written certification that the city’s financial resources and revenues are and will continue to be adequate to support any proposed expenditure or obligation without detrimental impact on the continuous provision of municipal services, including the following instances: every proposed appropriation, transfer, or revenue; City Council vote to effectuate financial action; collective bargaining agreement; vote to authorize a borrowing; and ordinance or special legislation which requires the expenditure of funds or otherwise obligates the city for a period in excess of a year.
Recommended Minimum Education and Experience Special Requirements
- Bachelor’s and/or master’s degrees in accounting, finance, business administration, public management, or related field. Additional study in specialized areas, including computer science, investment analysis, and/or cash management, CPA, and/or treasury experience is a plus.
- Eight years of progressively responsible experience in governmental (municipal preferred) accounting, finance, or business management, including at the senior management level.
- Equivalent combination of education and experience is acceptable. Must be bondable.
Knowledge, Abilities and Skills
The next CFO must have through knowledge of governmental fund accounting and auditing theory, principles, and practices; internal control procedures and bookkeeping; accounting procedures and systems, especially the UMAS and STET accounting system; and state and local laws and regulations relating to municipal finance. Working knowledge of organization and operation of city departments and agencies. Knowledge of accepted practices related to auditing, financial reporting, treasury management, debt administration, investment and money management, internal controls, universal assessing practices and governmental financial systems. Ability to communicate effectively, work well with employees and officials at all levels, maintain and prepare complex records and reports, maintain effective accounting procedures, and carry out projects to their completion. Good public relations, customer services, and numerical skills.
Other Details and How to Apply
The recently updated salary range is $154,000 to $241,211 DOQ. The City of New Bedford offers an excellent benefit package and flexibility. Apply online with a resume, cover letter and contact information for five professional references. This is a rolling recruitment which will be open until filled with a first review of resumes on April 19, 2023. Confidential inquiries are encouraged and should be directed to Michael Jaillet, Vice President, GovHR USA at 781-760-3658.
The City of New Bedford is an Equal Opportunity Employer who values diversity at all levels of its workforce and is actively seeking a diverse pool of candidates for its next Chief Financial Officer.
Application Deadline: Open Until Filled