This senior staff position is responsible for the business and financial operations of the organization, including financial planning, control, and reporting. The Director of Finance and Administration also leads the preparation and ongoing monitoring of LACO’s annual operating budget and long-range financial projections, annual external audit, monthly statements and forecasts, banking and investment manager relationships, information technology systems management, facilities operations, and the administration of payroll, employee benefits, and personnel policies. The position is responsible for financial oversight of the newly adopted 2023-2026 Strategic Plan, including developing financial modeling related to LACO’s resident company status at the new Colburn Center, opening in 2026.
The new Director will need expertise in strategic business planning and be savvy in fiscal management and technological advances. He/she will need to be a resourceful problem-solver, provide empathetic and supportive leadership to staff, maintain standards of performance excellence and ensure a positive environment.
DUTIES AND RESPONSIBILITIES
Develop sound financial and administrative policies and procedures and internal controls for accounting, auditing, budgeting, purchasing, inventories, payroll, and administrative services functions. Implement and monitor policies, procedures, and internal controls to ensure accuracy and efficiency.
Direct activities relating to the management and control of cash flow, banking relations, and investments.
Participate in the Board's development of investment policies and strategies. Serve as primary contact with fund managers and ensure proper accounting for all investment transactions.
Manage the organization’s daily administrative and financial activities, including financial record keeping, production of financial statements, and personnel records.
BUDGETING AND PLANNING
Work with the Board Chair, Board Treasurer & Finance Committee, Board of Directors, and the Executive Director in the development of financial objectives for the organization.
Direct the preparation of organizational operating budgets and forecasts with staff and Executive Director for Finance Committee and Board approval.
Prepare operating budgets and forecasts for all financial functions; monitor revenues and expenses against approved budget. Recommend and monitor expense control initiatives. Prepare analyses of variances and recommend revision of plan and budget.
Work closely with Executive Director, Director of Development, and other designated staff in long-range planning for the organization, grant creation and reporting, and budget preparation.
Direct the timely preparation and maintenance of all accounting records and provide appropriate financial/statistical reports.
Maintain the organization's revenue and expense records, produce monthly financial statements, process accounts payable and accounts receivable, process deposits, and maintain annuity records.
Establish and direct payroll and tax payment systems; direct the preparation and maintenance of all payroll records and reporting, assuring compliance with all legal requirements and organizational objectives.
Prepare and submit federal, state, and local income tax forms, withholding forms, and other forms as required.
Direct the monitoring and compliance with the terms and conditions of all planned gifts.
Ensure compliance with all financial/tax reporting requirements of agencies/foundations.
AUDIT AND TAXES REPORTING
Review audit needs of the organization; make recommendation as to selection of auditors.
Direct preparation for audits.
Work with the auditors in preparation of the annual audit report and filing of tax reports. Review and approve all drafts; assure distribution of reports as required.
Respond to auditor's findings and recommendations in consultation with Finance Committee, taking action as appropriate.
Develop internal audit procedures to ensure that systems are functioning as planned.
Ensure that a copy of the most recent IRS form 990 and Schedule A are available for review according to federal law.
BOARD OF DIRECTORS
Staff the Finance Committee; interact with Board Treasurer as needed.
Prepare monthly financial statements and interim reports as requested by Executive Director, Board Treasurer, and other members of the Board as required.
Direct the establishment of personnel policies for the administrative staff.
Direct the execution of all benefits programs, including retirement programs, health insurance, and all other types of institutional insurance, maintaining accurate records and filing all required reports.
Maintain employee records (both staff and orchestra) showing date of hire, compensation and benefits, leave records, and other pertinent personnel data.
Prepare and file employer reports to government agencies, insurance companies, union, etc. Carry out organizational and personnel surveys as needed.
Negotiate contracts; coordinate the administration of all operating leases and contracts, including: computer services, insurance, audits, building lease, maintenance contracts, and other services. Ensure that artist/performer contracts are not at variance with organizational objectives, including compliance with tax laws and adequate insurance endorsements.
Prepare and review all contracts for guest artists, major contracted services, and staff employment offers, to present for Executive Director's signature.
Develop purchasing policies and procedures and direct/monitor their implementation.
Direct data processing function, including preparation of DP plan, software and hardware requirements, development of appropriate controls, and new systems installations.
Hire, train, manage, and evaluate all finance/administrative staff.
Serve as part of the senior management team to assist the Executive Director in setting and implementing administrative policies established by the Board.
Work with the organization's attorney to resolve legal matters.
Serve as a strategic thought partner to the ED, senior management and the board, aiding in policy formation and management.
The ideal candidate will have proven business and nonprofit management skills and be a collaborative team member and communicator. The Director must have a demonstrated track record of financial and administrative management of similar sized nonprofits, and a reputation for transparency and flexibility in working with board members, colleagues and contractors. Essential qualifications include:
The Director must enjoy working hands-on with a lean, hard-working team, including consultants and contractors, have experience working in a fast-paced environment and possess a passion for musical expression and engagement with the community
Intermediate or advanced knowledge of necessary software, including Microsoft Office, QuickBooks Online, Bill.com, preferably Sage MIP Abila Fund Accounting
Candidate must have a minimum of six years accounting, budgeting, financial planning and analysis or auditing experience in a governmental or non-profit organization, and a minimum of three years of supervisory experience
Experience with grants management systems, budgeting and financial planning platforms, administration of federal, state, county and city funding streams and project management skills, as well as strong collaboration, coordination, consensus building, interpersonal, organizational, written and oral communication skills and attention to detail
Requirements of Applicants
A master’s degree from an accredited college or university in a field related to LACO mission and activities [educational qualifications may be waived depending on work history]
Five years of experience in a senior level of nonprofit administration (with knowledge and experience in the performing arts field), with a minimum of three years at an executive level
High level of integrity, honesty, dependability, accountability, creativity and confidentiality in performance of duties
LACO ranks among the world’s top musical ensembles. Beloved by audiences and praised by critics, the Orchestra is a preeminent interpreter of historical masterworks and has received eight ASCAP Awards for Adventurous Programming. It has recently assembled a large library of high-quality online offerings to complement live performance. LACO has been proclaimed “America’s finest chamber orchestra” (Public Radio International), “LA’s most unintimidating chamber music experience” (Los Angeles magazine), “resplendent” (Los Angeles Times), and “one of the world's great chamber orchestras"(KUSC Classical FM).
In the course of 35-40 appearances each year, LACO reaches a total live audience of approximately 25,000, with upwards of a million more hearing performances on radio broadcasts nationwide (and streaming worldwide). The Orchestra pursues its mission, “to enrich and connect our community through intimate and transformative musical experiences which exemplify and foster artistic excellence, education and innovation,” through a blend of traditional and innovative programming. An active educational program takes professional musicians into middle schools in some of the least resource...d areas of the region.
The LA Times declared: “A shining feature in L.A.’s cultural landscape… [LACO’s] texture is as rich and full as any larger symphony orchestra. What LACO’s size provides is clarity unequaled by any full-sized orchestra.” LACO is also excited to uncover unrecognized orchestral works by composers whose social status or race has not historically engendered the visibility they deserve. LACO concerts are accessible in a variety of communities throughout the county.
The new Director will be part of the management team for this outstanding, respected and stable performing arts organization and help guide it in achievement of its mission.