VP Finance – Roles & Responsibilities

Accountabilities from Bylaws: The Vice President of Finance, an Officer of PMI-SAC, is accountable to the Board for oversight of management of funds for duly authorized purposes of the PMI-SAC. The Vice President of Finance is accountable to the Board on matters relating to the good financial governance of PMI-SAC. Section 5.

Specific Accountabilities: 

• Support the Chapter’s annual Business Plan through overall stewardship of the Finance portfolio and its performance. 
• Prepare annual operating and capital budgets. 
• Oversee management of funds for duly authorized purposes of the Chapter, including accounts receivable, accounts payable, and managing the Chapter’s bank accounts and required Officer Signatures. 
• Support the annual Charter renewal application through monthly, periodic, and annual reporting including financial statements and other information as required. 
• Manage annual financial audit. 
• Retain and archive permanent records associated with this position. 

Job Description and Summary of Tasks:  The VP Finance is responsible for a significant set of accounts that must be kept up to date with all of the transactions, notes, and payments required to operate a Chapter according to the laws of the country, province, and city. 

Monthly: 

• Keep a record and act on transactions from the chapter website. 
• Pay required bills. 
• Deposit funding received from sponsors. 
• Create deposit cheque for Board activities and accept expense submissions and record transactions to the budgeted accounts. 
• Provide an income statement and balance sheet summary report to the Board each month at the Board meetings. 
• Attend the Chapter dinner meetings to ensure the reception desk has the tools on hand to provide a transaction service to members. 

Annually: 

• Create a starting point for the budgeting process and guide the board with financial advice to get a final operational and capital budget approved. 
• Initiate and complete an audit of the Board’s yearly transaction activities (submit to VP Operations for Chapter business registration and PMI Global Operations for Chapter renewal). 

Time Commitment per Month (estimated average):  This role is ongoing with daily or weekly reporting or action frequency of approximately 30 hours per month. 

Important Qualifications or Skills: 

• Knowledge of GAAP and legal requirements for financial records, methods, and practices 
• Accounting Designation is preferred 
• Familiarity with accounting software 
• Experience with creating and reporting financial record 
• Available to the Board members for transactions