Are you Craft3’s next Chief Financial Officer? Or do you know someone who might be a good fit?

At Craft3, we are committed to improving lives across the Pacific Northwest by providing responsible capital for businesses, homeowners, nonprofits and communities. As a mission-driven community development financial institution (CDFI) we prioritize working with borrowers unable to qualify for bank financing. Identifying new leaders is critical to our ongoing success and we are excited to be embarking on the public search to identify Craft3’s next Chief Financial Officer (CFO).

With the public search process for our CFO underway, we connected with Craft3’s Maggie Kirby Weiland, Chief Development Officer and Chief of Staff, as well as Mark Stevenson, interim CFO, who are helping lead the search.

‍Carl Seip: People may be generally familiar with the role of a Chief Financial Officer, but how is this work different at an organization like Craft3?

‍Maggie Kirby Weiland: Just like any CFO, Craft3’s next Chief Financial Officer will be our organization’s top financial strategist, overseeing finance, accounting, financial compliance and treasury functions. They’ll have opportunities beyond that traditional scope, though. For instance, since Craft3 is a loan fund, they’ll have the opportunity to support financial product development through cost modeling and product pricing. As a non-depository financial institution, they’ll be able to strategically advise on partnerships, and engage with our fundraising team on negotiating complex investment deals and investor relations. At Craft3, we are proud of our partnerships with a deep roster of like-minded individuals and organizations across the Pacific Northwest – public agencies, large financial institutions, foundations and impact investors. Our next CFO will need to be able to engage and work with this diverse constituency to help us better meet the needs of our customers.  

‍Mark Stevenson: I would add that we’d like our next CFO to be a “people person” who goes beyond merely assigning tasks and deadlines. They’ll be charged with building a collaborative team culture with clear pathways for growth and opportunity. And, they’ll be working with leaders across our many business units to understand how the Finance team can best serve our internal and external customers. Lastly, as with any small organization – we’d expect the CFO to be a working manager, willing to roll up their sleeves to help their team when an extra set of hands is needed.  

‍CS: How are you handling recruitment for the role?

‍MKW: We’ve hired Glick Davis and Associates to help find the best talent available whether that’s close to home or further afield. The firm we are working with is experienced in identifying people that fit positions like the one at Craft3. And we are leveraging Mark’s experience as our CFO from 2018-2023 (he’s currently serving in an interim capacity before his upcoming retirement) to help define the real-life roles and responsibilities for Craft3’s next CFO. We have posted through various employment opportunity sites as well as leveraging the professional networks of our staff and Board of Directors through social media and other means.  

‍Can you say a bit more about the CFO position?

‍MKW: Absolutely. It’s a complex and varied role. They are responsible for building and maintaining a cohesive and high functioning team and overseeing sound financial operations. They will focus on financial planning and forecasting and expanding on and evaluating key financial metrics to support business and strategic goals. They’ll help evaluate and optimize the financial performance of Craft3’s financial products and services to support future growth and sustainability. As a member of our Leadership Committee, they’ll act as a strategic partner to the CEO and other LC members. And they’ll provide governance support by staffing the Board Finance Committee and Audit and Enterprise Risk Management Committee.

‍CFOs with financial institution experience will be familiar with elements of our balance sheet and income statement, but there will be some distinctions as a nonprofit organization that does not accept deposits. And as a CDFI, the customers we serve are those traditional financial institutions don’t typically reach.  

‍MS: While we are a nonprofit, we’re a financial institution first. We may look small by traditional bank standards, but we rely on over 150 funders and more than 200 different funding sources – both investments and grants – from banks, governments, foundations, and individuals and families, with various utilization requirements. Of course, our new CFO should be familiar with the industry and industry trends, and conversant in loans and related financial transactions, loan loss reserves, and fund accounting complexities. It’s an intellectually stimulating and rewarding opportunity for someone looking to apply their financial acumen and experience to a people-centered organization that is mission driven and focused on enabling community change.

‍CS: How does Craft3’s mission inform the type of work done by a CFO and what are we looking for in our next CFO?

‍MKW: There is no shortage of qualified CFOs with successful careers in finance in our region, but we will be looking for a CFO who is also committed to Craft3’s mission and the communities we serve. We are looking for a qualified professional who actively engages with their community and understands the importance of access to capital and economic opportunity for underserved and marginalized communities. Maybe they serve as the CFO for a bank and have wanted to support the kinds of loans CDFIs make, but haven’t been able to due to their institution’s regulatory framework or profit motivations. Maybe they also serve on a nonprofit board and want to bridge their volunteerism with their professional career with a purpose-driven finance role where they can see the impact of their daily contributions on their community.

‍MS: Craft3’s work can be deeply personal, in that it has a direct impact on the ground in the places we live and work; meaning you see exactly who it is you are helping. Our next CFO will work directly with Craft3’s team of program managers. That type of direct engagement by a CFO is typically not part of the job at larger financial institutions. There is also a necessity to be more out-in-front by helping our partners and funders build a solid understanding of our operations, our stewardship of limited resources, and the outcomes that we are achieving as an organization.  

‍MKW: And because our CFO works with a variety of different stakeholders at Craft3, they must be able to simplify and distill the complex mechanisms of finance and accounting in a way that is accessible to our entire team and our partners.  

‍CS: What comes next?

‍MKW: We look forward to hearing from experienced and inspired professionals who are interested in joining our great team. You can view details on how to apply in the Position Profile, which can be found on the Craft3 careers webpage, and also linked above.  

Candidates will first meet with GDA through their screening and interview process, but as they advance, there will be opportunities to meet the Craft3 team, with a variety of stakeholders, through both virtual and in-person meetings. We know recruitment and the interview process is a two-way street, so we’ve designed a process that will give both Craft3 and candidates the opportunity to assess mutual fit.  

‍CS: Thank you both for taking the time to share your insights!