Financial Systems Consultant

Summary

Join the Rights and Resources Initiative (RRI) as a consultant for a 3-month project to review their financial systems. The project involves assessing RRI's financial system needs, evaluating cloud-based options, and recommending the top three systems for a transition in early 2025. The consultant will also review current staff capacity and provide recommendations for adjustments. The scope includes evaluating financial systems for multi-entity, multi-currency, and project management, assessing compliance readiness for CLARIFI's transition to a 501(c)(3), and reviewing financial staffing and organizational structure. Deliverables include a process overview, draft report, final report, and a presentation to the Audit Committee. The project timeline starts immediately upon selection, with a final report due February 21, 2025.

Requirements

• Possess experience with nonprofit financial systems, particularly in multi-entity, regranting, and compliance-heavy environments
• Possess strong knowledge of cloud-based, project-oriented financial systems that support budget vs. actuals reporting and multi-entity financial management
• Possess expertise in compliance and risk management frameworks for complex nonprofit organizations, with experience preparing organizations for new 501(c)(3) subsidiary structures
• Possess proven ability to conduct staffing assessments for finance teams undergoing system transitions

Responsibilities

• Conduct a comprehensive assessment of RRI’s financial system needs, internal controls, staffing, and readiness for CLARIFI’s 501(c)(3) status
• Define System Requirements: Develop a detailed set of requirements for a cloud-based financial management system that can handle multi-entity, multi-currency, and project-based management, particularly for regranting activities under CLARIFI
• Evaluate Cloud-Based System Options: Research and evaluate a broad range of cloud-based financial management systems
• Provide Detailed Recommendations for Top Three Systems: Provide a comprehensive comparison of the top three systems that best meet RRI’s needs
• Assess processes for grants management, donor tracking, and HR focusing on where they overlap with financial operations
• Provide recommendations for integration opportunities or system enhancements that would streamline workflows and reduce manual work when upgrading financial systems that may have broader capabilities and integrations
• Assess RRI’s current budgeting and forecasting practices and identify areas where a new system can improve the timeliness and accuracy of budget vs. actuals presentations to the Board
• Ensure that the recommended systems have strong budgeting tools that allow real-time tracking, comparison of budgeted vs. actual spending, and clear presentation formats for Board review
• Evaluate current financial processes and identify adjustments needed to support consolidated reporting and financial management for CLARIFI as a 501(c)(3)
• Ensure the system can accommodate separate entity financials while providing a consolidated view for RRI
• Examine RRI’s compliance framework to ensure it meets regulatory requirements for a regranting mechanism within a multientity structure
• Ensure that the proposed systems can handle donor-specific compliance reporting and provide controls for financial and operational oversight
• Evaluate the Finance team’s capacity to manage the system transition and provide ongoing support for multi-entity financial reporting and compliance
• Recommend necessary staffing changes or new roles needed to support effective financial management across RRI, the Canadian subsidiary, and CLARIFI
• Identify specific skillsets required for the team to maximize the functionality of the new system
• Submit a concise overview by early January 2025, summarizing the assessment process
• Deliver a comprehensive final report by February 21, 2025, including: Evaluation of multiple financial systems with detailed recommendations for the top three systems
• Integration opportunities and process improvement recommendations for overlapping operational areas
• An index of considerations for CLARIFI’s transition to 501(c)(3)
• Provide a brief roadmap outlining actionable steps for transitioning to the recommended financial system, including key milestones, timelines, and resource requirements
• Present the final report and recommendations to the Audit Committee via teleconference around February 21, 2025 (specific date to be confirmed)