GENERAL PURPOSE OF POSITION

The mission of the Cornerstone Fund is “Joining together in faith to invest in and build Community”. It supports the vision of the UCC as a multiracial, multicultural church, accessible to all, as it is lived out in and through the local church. The Cornerstone Fund will work in interactive partnership with Local Churches, Associations, Conferences, and other expressions of the Church, and with ecumenical and interfaith communities.

The Chief Financial Officer and VP is responsible for the creation and compilation of all financial statements, reports, budget, and forecasts of the Fund’s operations. This position is also responsible for overseeing and directing the work of our external auditors. They also direct and collaborate with the Fund’s external securities attorneys in the preparation and annual approval of our Offering Circular – responding to specific requests of all 50 state’s securities examiners. As part of the Leadership team of the Cornerstone Fund, participate in all strategic discussions and decisions.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:

• Oversee the day-to-day activities of the Fund Accountant.
• Develop and implement an internal audit schedule for the Cornerstone Fund, including but not limited to the audit the data entry of both loan disbursements and payments for and the receipt and disbursement of investor transactions for accuracy and timeliness of transactions and testing interest paid on investment accounts and ensure interest on mortgage loans is calculated as of disbursement date and included on the monthly billing statements for the Cornerstone Fund loans;
• Provide recommendations for policy & procedures associated with the processing of disbursements and payments;
• Assist the Cornerstone Fund President/CEO in budget development, monitoring and oversight;
• Coordinate the annual audit of the Cornerstone Fund, guaranteeing timely filing of audited financial reports according to state regulations. (Audited financial statements must be provided all Cornerstone Fund investors within 120 days of the end of the fiscal year);
• Update the annual Offering Circular of the Cornerstone Fund, working with the Fund’s securities attorney to ensure all disclosures are updated according to individual state requirements;
• Liaison with Peoples Bank and other financial institutions, ensuring the Fund has the appropriate checking account, a sufficient line of credit and the proper investment of funds;
• Resource for the Cornerstone Fund Board of Directors and various Board Committees regarding budget and finance related issues;
• Prepare monthly financial reports for management review. Financial reporting will include but is not limited to statements of net assets, income statements, cash flow statements, maturities on investments;
• Prepare journal entries for input to the general ledger;
• Reconcile related bank and investment accounts and other balance sheet accounts as needed;
• Oversee the processing and/or payment of Accounts Payable and Accounts Receivable;
• Train, coach, counsel and supervise the Fund Accountant;
• Plan, monitor and appraise the performance of the Fund Accountant;
• Help promote the Cornerstone Fund’s positive image by responding in writing and orally on a timely basis to inquiries for information;
• Attend meetings, as requested or required, and contribute to program effectiveness by identifying short-term and long-range issues that must be addressed, provide information and commentary pertinent to deliberations, recommend options, policies, and courses of action and implement directives;
• Contribute to the effectiveness of work teams by fostering a spirit of cooperation and accomplishing assigned tasks;
• Develop and maintain professional and courteous relationships with staff, directors, partners and other constituents; serve as a positive role model be exemplifying values which are consistent with the United Church of Christ;
• Assume other responsibilities as assigned.