Association for Diagnostics & Laboratory Medicine (ADLM)
Location: Washington DC/hybrid
Type: Full Time
Salary: $250,000 - $280,000
Internal Number: 2023-2787
Chief Financial and Operations Officer
The Association for Diagnostics & Laboratory Medicine (ADLM) is seeking a Chief Financial and Operations Officer skilled in forecasting the impact of new initiatives and exploring new business models. With your team handling day-to-day tasks, your primary focus will be carefully evaluating our programs, products, and services to find ways to reach new audiences, grow revenue (reducing reliance on our Annual Scientific Meeting and Clinical Lab Expo), and identify cost-saving opportunities. Reporting to the Chief Executive Officer (CEO), you will lead a highly skilled team of 3 direct and 2 indirect reports managing human resources, finances, and operations (including legal and facilities) functions. You will oversee ADLM’s total budget of $22M with assets of $37.7M.
ADLM is seeking to reach new audiences in the laboratory and medical community, a major pillar in our strategic plan. Each year, our program and volunteer committees create 3-5 new initiatives, products, and projects that support industry and association growth. We have a strategic growth fund that helps to fund these initiatives for up to 3 years. Working with program staff and volunteers, you will evaluate the long-term viability of these initiatives. With a data-driven approach, you will help us balance financial performance with mission impact in all areas of our business model, ensuring revenue growth outpaces increasing operational costs.
How You’ll Make an Impact
ADLM is at the forefront of innovation, advocacy, and education in advancing better health through laboratory medicine, helping the laboratory and medical community navigate the complexity of an evolving healthcare landscape. You will play a critical role in driving the implementation of our strategy for short- and long-term success.
In collaboration with C-suite peers, collect and compile market intelligence to help position ADLM in the lab medicine association space and pursue opportunities for growth.
Develop and implement a financial and operational strategy along with KPIs to measure progress. This includes analyzing the strengths and weaknesses in the association’s finances, exploring new business models, forecasting the impact of new or expanded initiatives, evaluating and recommending business partner opportunities, developing and monitoring control systems to preserve assets, and accurately reporting financial results.
Maintain the association’s relationship with banks and the financial community and support the financial decision-making of the board of directors.
Work Environment and Benefits
Our most important asset is our people. We value a healthy work-life balance and currently offer a 35-hour work week with a hybrid schedule of four days remote and one day on-site in our northwest Washington, DC, office.
The budgeted salary range for this position is $250K - $280K. We offer an exceptional benefits program, including 21 days of PTO in addition to three personal days, thirteen paid holidays, paid family, bereavement, volunteer, and pet leave, medical/dental/vision plans, up to a 10% match retirement contribution, and more. We also offer a Dress for Your Day policy, an on-site fitness center, and convenient access to Metro.
You will like who you work with. Our staff is a diverse team dedicated to supporting our members, ADLM’s mission, and each other. We are a respectful, energetic, and collegial group of passionate and committee colleagues. We work and win together.
Develop and monitor policies and procedures within generally accepted accounting principles and association guidelines.
Appraise the organization's financial position and issue periodic reports on financial stability, liquidity, and growth.
Analyze studies of general economic, business, and financial conditions and their impact on the organization's policies and operations.
Develop the annual budget and strategic initiatives portfolio. Ensure cash flow is appropriate for the organization’s operations.
Manage and support the Finance Committee. Serve as staff liaison to the Finance Committee and Board of Directors on financial matters. Develop and present financial reports and analyses to the Finance Committee and Board of Directors.
Brief the Treasurer and CEO on activities such as custody of funds, securities, and assets of the organization.
Establish and maintain contacts with vendors, financial institutions, and the investment community.
Responsible for the appropriate management of association investments. Serve as the staff liaison to the investment advisor.
Review monthly operating reports for accuracy, completeness, and major variances between actual and budget results. Ensure underlying accounting records are accurate, complete, and in accordance with GAAP.
Legal and Regulatory Compliance
Ensure compliance with tax, audit, and financial filing requirements.
Develop and maintain financial policies and procedures.
Serve as the staff liaison to legal counsel. Review and negotiate association contracts in consultation with ADLM’s legal counsel when necessary.
Maintain appropriate general insurance coverage.
HR and Culture
In collaboration with C-suite peers, exercise leadership in cultivating a safe, inclusive, high-performing staff culture.
Serve as one of the trustees and, in conjunction with the Senior Director, HR, oversee the administration and financial reporting of ADLM’s retirement plan.
Investigate cost-effective benefit plans and other fringe benefits which the association may offer employees and potential employees with the goal of attracting and retaining qualified individuals.
Office and Facilities
Manage the office lease, including proactive exploration of future occupancy options.
Lead and mentor staff to maintain a positive, productive working environment in alignment with ADLM core values.
Bachelor’s degree in accounting, finance, or a related field, CPA, CAE, or MBA a plus.
Five or more years of experience serving in a senior-level finance position in a professional membership organization.
Experience in nonprofit financial accounting, budget development and reporting, long-term forecasting, treasury management/investments, compliance, and internal controls.
The Association for Diagnostics & Laboratory Medicine (ADLM) is a global scientific and medical professional organization dedicated to clinical laboratory science and its application to healthcare. Our leadership in education, advocacy, and collaboration helps lab professionals adapt to change and do what they do best: provide vital insight and guidance so patients get the care they need.
We encourage you to apply even if your experience is not a 100% match with the position description; we will consider people from a variety of backgrounds and career experiences.
Use the "Apply" button on this page or simply email your resume to Aileen Hedden at email@example.com with “ADLM – Chief Financial and Operations Officer #2023-2787 ASAE” as the subject of the email.
Job responsiblities are similar to the following positions: Chief Operating Officer, Chief Strategy Officer, Chief Financial Officer, VP of Finance and Administration, SVP of Finance and Administration.
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