Title: Chief Financial Officer

State Role Title: Salary Non-Specified

Hiring Range: $205,562 - $250,000

Pay Band: UG

Agency: Virginia Retirement System

Location: Virginia Retirement System

Agency Website: https://fahrenheitadvisors.com/careers/

Recruitment Type: General Public - G

Job Duties

Fahrenheit Advisors has been retained by the Virginia Retirement System (VRS), an independent state agency, to identify a strategic and experienced Chief Financial Officer (CFO) to lead its Finance Division. All candidates interested in applying to this position must apply through Fahrenheit Advisors in order to be considered. Please visit https://fahrenheitadvisors.com/careers/ for more information and/or to apply.

Overview

Ranked among the largest public pension funds in the U.S., VRS serves over 803,000 members, retirees, and beneficiaries, providing trusted financial stewardship and retirement security for Virginians. The CFO will serve as a key advisor to the Director and the Board, overseeing all aspects of financial management, accounting, reporting, and fiscal operations to ensure transparency, compliance, and long-term sustainability.

VRS offers a collaborative, high-performing culture within a hybrid work environment (2 days in-office, 3 days remote). Team members enjoy competitive benefits, including comprehensive insurance coverage, generous paid leave, agency bonus programs, and a robust retirement plan with additional savings options.

This is an ideal opportunity for a mission-driven finance executive to make a lasting impact on an organization dedicated to serving the Commonwealth.

Key Responsibilities

Lead all fiscal operations, including accounting, financial reporting (GAAP/GASB), investment accounting, accounts payable/receivable, payroll, cash management, and benefits disbursement.
Oversee preparation of the Annual Comprehensive Financial Report (ACFR) and Popular Annual Financial Report (PAFR), ensuring accuracy and compliance.
Develop and manage short- and long-term financial goals aligned with the agency’s Strategic Plan and statutory requirements.
Analyze and interpret actuarial data, cash flows, and financial trends to inform strategic decision-making.
Oversee procurement, facilities management, and key outsourced services.
Maintain strong internal controls, risk management, and compliance with accounting standards and audit recommendations.
Serve as a trusted advisor to the Director and Board, presenting clear, data-driven financial insights.
Lead and mentor a high-performing finance team focused on accountability, service, and continuous improvement.
Evaluate and recommend financial systems and technologies (e.g., Microsoft Dynamics 365, Cardinal Payroll, VNAV) to improve efficiency.
Represent VRS with external stakeholders, including auditors, state offices, and participating employers.

Minimum Qualifications

Bachelor’s degree in Accounting, Finance, or related field required; Master’s degree preferred.
CPA required; additional credentials (CFA, CGFM) strongly desired.
Minimum 8 years of progressive experience in public sector finance, accounting, or a comparable complex organization; public pension experience preferred.
At least 5 years of leadership experience managing finance or accounting teams.

Additional Considerations

Skills & Competencies

Deep knowledge of GAAP and GASB standards.
Strong analytical and problem-solving skills with the ability to explain complex financial issues clearly.
Proven success in process improvement and strategic planning.
Proficiency with Microsoft Office and financial systems; familiarity with Microsoft Dynamics 365, Cardinal Payroll, and VNAV preferred.
Exceptional communication, leadership, and interpersonal skills.
High integrity, discretion, and commitment to public service.

Leadership & Culture

Build, develop, and inspire a diverse finance team through coaching and performance management.
Align team goals with organizational priorities and statutory responsibilities.
Foster a collaborative, solutions-oriented culture grounded in service excellence and continuous improvement.

Special Instructions

Fahrenheit Advisors has been retained by the Virginia Retirement System (VRS), an independent state agency, to identify a strategic and experienced Chief Financial Officer (CFO) to lead its Finance Division. All candidates interested in applying to this position must apply through Fahrenheit Advisors in order to be considered. Please visit https://fahrenheitadvisors.com/careers/ for more information and/or to apply.

You will be provided a confirmation of receipt when your application and/or résumé is submitted successfully. Please refer to “Your Application” in your account to check the status of your application for this position.

Contact Information

Name: Fahrenheit Advisors

Phone: 804-955-4440

Email: https://fahrenheitadvisors.com/careers/

In support of the Commonwealth’s commitment to inclusion, we are encouraging individuals with disabilities to apply through the Commonwealth Alternative Hiring Process. To be considered for this opportunity, applicants will need to provide their AHP Letter (formerly COD) provided by the Department for Aging & Rehabilitative Services (DARS), or the Department for the Blind & Vision Impaired (DBVI). Service-Connected Veterans are encouraged to answer Veteran status questions and submit their disability documentation, if applicable, to DARS/DBVI to get their AHP Letter. Requesting an AHP Letter can be found at AHP Letter or by calling DARS at 800-552-5019.

Note: Applicants who received a Certificate of Disability from DARS or DBVI dated between April 1, 2022- February 29, 2024, can still use that COD as applicable documentation for the Alternative Hiring Process.