Leadership role
Director of Finance
Directs an organization's accounting and financial operations, including budgeting, reporting and grant financial management.
Reporting and scope
Typically reports to the CFO / Head of Finance or, in organizations without a CFO, to the Executive Director / CEO. Authority covers the finance and accounting function.
Core responsibilities
- Prepares the annual budget and monthly financial reports
- Manages the audit and supports preparation of the Form 990
- Tracks restricted funds and grant spending, including federal award requirements
- Oversees payroll, payables, receivables and cash flow
- Maintains internal controls and financial policies
- Presents financial results to the finance committee when there is no CFO
How it differs
CFO / Head of Finance is the board-facing owner of financial strategy. Controller / Comptroller runs the accounting close and controls. Director of Finance sits between the two and is often the top finance job in mid-sized organizations. VP of Finance is the tier above.
By organization size
In smaller organizations the Director of Finance is the senior finance staff member and does CFO work without the title. In large organizations it leads a unit such as budgeting or grants finance under a CFO.
Filings from the last five years mapped to this role commonly report titles such as: Director of Finance; Finance Director; Finance Dir.; Dir. of Finance; Senior Director of Finance; Director of Finance and Operations