Title: Deputy Chief Financial Officer

State Role Title: Finance

Hiring Range: $155,000 - $194,000

Pay Band: UG

Agency: Virginia Retirement System

Location: Virginia Retirement System

Agency Website: www.varetire.org/careers

Recruitment Type: General Public - G

VRS has collaborated with Fahrenheit Advisors to conduct this Executive Recruitment. To be considered for this opportunity, please click here to apply directly with Fahrenheit Advisors. 

The Virginia Retirement System (VRS), an independent state agency, delivers retirement and other benefits to covered Virginia public sector employees through sound financial stewardship and superior customer service. Ranked as the 14th largest public or private pension fund in the U.S. and the 36th largest in the world, VRS serves more than 803,000 active and inactive members, retirees and beneficiaries.

Join VRS as a trusted leader in the delivery of benefits and services to those we serve.

VRS fosters a high-performing workforce in a hybrid work environment (currently 2 days in the office, 3 days remote) where employees are celebrated and professional growth and development is encouraged. Featured benefits include health and life insurance, paid vacation and holidays, an agency bonus program and participation in the VRS retirement program with options for additional tax-deferred retirement savings to include employer matching.

The Deputy Chief Financial Officer is a key member of the Finance leadership team. Reporting to the Chief Financial Officer (CFO), the Deputy Chief Financial Officer supports and assists the CFO in administering, overseeing, and guiding the agency's accounting and fiscal operations to achieve the agency's mission, values, and strategic business outcomes and stands in for the CFO, as needed. Additionally, the Deputy Chief Financial Officer will assist the CFO in providing leadership and direction to the Finance team including, but are not limited to: Operations Accounting (Benefit Disbursement, Employer Confirmation, Purchase of Prior Service, Member Account Maintenance, Employer and Member Accounts Receivable and Data Integrity units); Controllership (General Accounting, Investment Accounting, Accounts Payable, Agency Payroll and Financial Control units); and the Procurement unit which includes oversight of facilities, security and the mailroom.

Essential functions include but are not limited to:

• Collaborates with the CFO in providing daily leadership, mentoring and management in the planning and directing of the activities of the Finance Division.
• Provides strategic leadership with a focus on improving effectiveness, efficiency, and customer service.
• Supervises directly or indirectly personnel within the Finance Division as assigned. Areas of oversight include, but are not limited to, financial reporting consistent with GAAP and GASB standards, investment accounting, cash management, general accounting (purchasing, accounts payable/receivable, cash receipt, payroll, claims, fixed assets, lease accounting, employer/employee contributions and other payments, etc.), and disbursements of annuity benefits, member refunds and related withholdings.
• Ensures that applicable Government Finance Officers Association (GFOA) checklists are reviewed on an annual basis to confirm the Annual Comprehensive Financial Report (ACFR) contains all of the required content.
• Prepares and organizes data for the CFO that supports productive discussions for effective decision making on key financial priorities.
• Effectively navigates complex legislative policies, relationships and dynamics that challenges ideas, enables thoughtful decisions and produces positive outcomes.
• Provides hands on support to areas needing assistance due to unexpected resource constraints as necessary.
• Provides direction, coordination, and evaluation of assigned service areas.
  Develops and maintains an in depth knowledge of VRS owned systems at an operational level to deliver desired department and agency outcomes.
• Ensures all finance systems and processes operate within an adequate structure of internal controls, and suitable interfaces exist between all lines of business transactions and VRS financial systems.
• Ensures the successful implementation of financial tools and resources to improve agency financial insights and data visualization.
• Works collaboratively with other departments to provide solutions to fiscal management and business functions that improve operations while maintaining or improving financial integrity.
• Pursues opportunities to enhance compliance, automate processes, and reduce risk.
• Leads, directs, and supports collaborative project management activities for critical agency-wide projects, as well as leading VRS participation in state-wide projects.
• Provides oversight for short and long term finance initiatives and develops tools to track progress and monitor performance indicators.
• Advises on the impact of policy, legislative, and administrative changes on agency processes and services, and provides support in implementing changes.
• Recommends and implements changes that make the work processes of the Finance team more efficient, cost-effective, and accurate, and ensures that adequate controls are in place to safeguard VRS’ assets.
• Participates in cross-hierarchal teams and contribute to improving services across the agency.
• Maintains visibility and effectively works with all levels of management and diverse staff to improve processes and procedures.
• Promotes professional learning, assesses individual skills and identifies development needs to build capacity and maximize talent.
• Gains the trust and respect of staff cultivating accountability, service excellence and problem solving.
• Assists the CFO in meetings and builds relationships with external groups and officials related to the financial operations of VRS and prepares/delivers presentations to such groups and officials on these topics.
• Provides support to VRS employers, particularly with respect to contributions and financial reporting, as needed.
• Ensures timely completion of special projects as assigned by the CFO.
  

Minimum Qualifications

The ideal candidate will possess a Bachelor’s degree Accounting, Finance or a related field.

Ten (10) years of progressively responsible finance and accounting experience with three (3) years’ experience in a supervisory or senior level finance management role or an equivalent combination of education and experience.

• Current licensure as a Certified Public Accountant (CPA).
• Thorough knowledge of GAAP and internal controls and understanding of GASB accounting and standards.
• Demonstrated utilization of the MS Office Suite of applications; familiarity with the Microsoft Dynamics 365 or other large ERP systems.
• Strong organizational skills to achieve effective and efficient operations; ability to balance and administer multiple responsibilities effectively.
• Excellent communication skills, to include verbal, written, listening, and presentation skills.
• Strong interpersonal skills; ability to establish and maintain effective working relationships with fellow members of the leadership team, staff and external stakeholders.
• Ability to effectively present information and respond to questions from groups of managers, internal customers, and other stakeholders.
  

Additional Considerations

Preferred qualifications include:

• Finance experience within a large, complex financial services organization, public pension system, government agency, or other high-touch customer service-oriented organization.
• An advanced degree in accounting, finance, public or business administration or a related field.
• Knowledge of VRS programs and services.
  
  

Special Instructions

VRS has collaborated with Fahrenheit Advisors to conduct this Executive Recruitment. To be considered for this opportunity, please click here to apply directly with Fahrenheit Advisors. 

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

Application Link: https://jobs.crelate.com/portal/fahrenheitgroup/job/h9zgh98o1gcir8yhxfif1m1ery?crt=1732199416596

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.