Chief Financial Officer

Breakthrough T1D is determined to cure type 1 diabetes (T1D), a disease that afflicts over a million Americans today, with the possibility to increase to an expected five million by 2050, with many millions more affected globally. Since its founding, Breakthrough T1D has raised or directed nearly $5 billion to support the best researchers doing the most promising, cutting-edge science to cure, prevent and treat T1D. Breakthrough T1D is additionally committed to aggressively raising awareness about T1D and supporting the T1D community. Breakthrough T1D drives innovation, demands action, and stands with everyone facing life with type 1 diabetes.

About Type 1 Diabetes

Type 1 diabetes is an autoimmune disease that strikes both children and adults suddenly. It has nothing to do with diet or lifestyle. There is nothing you can do to prevent it, and, at present, there is no cure.

In T1D, the pancreas stops producing insulin—a hormone the body needs to get energy from food. This means a process your body does naturally and automatically becomes something that now requires your daily attention and manual intervention. If you have T1D, you must constantly monitor your blood-sugar level, inject or infuse insulin through a pump, and carefully balance these insulin doses with your eating and activity throughout the day and night.

However, insulin is not a cure for diabetes. Even with the most vigilant disease management, a significant portion of your day will be spent with either high or low blood-sugar levels. These fluctuations place people with T1D at risk for potentially life-threatening hypoglycemic and hyperglycemic episodes, as well as devastating long-term complications such as kidney failure, heart attack, stroke, blindness and amputation.

Breakthrough T1D's Impact

Research and Collaboration

Breakthrough T1D is driving research across the entire scientific spectrum, from discovery in the laboratory to delivery of new technologies and treatments to people with T1D.

Since inception, Breakthrough T1D has contributed more than $2 billion to T1D research. However, the full impact of Breakthrough T1D’s research investment extends well beyond its direct funding. Now more than ever, Breakthrough T1D sees the value in leveraging partnerships with academia, industry and clinicians to ensure that the most promising research opportunities across the global scientific community are funded and accelerated. Breakthrough T1D often provides early-stage funding to research projects, and the results of those projects often lead to follow-on participation from many other entities—both other not-for-profit funders and corporations.

Because of its powerful research commitment, Breakthrough T1D has transformed scientific understanding of type 1 diabetes. This deep knowledge of T1D’s roots is leading the way to preventing future diagnoses of type 1 diabetes and one day stamping it out altogether. Breakthrough T1D is now in the exciting position of taking that research knowledge and translating it into real therapies that will make life-changing differences for those facing the daily challenges of T1D. Breakthrough T1D has championed technology with that goal in mind, from the first engineered insulin 25 years ago to recent breakthroughs like artificial pancreas systems, beta cell replacement, smart insulin that can turn on and off in response to blood sugar levels and, ultimately, methods for curing and preventing T1D. Currently, Breakthrough T1D is funding more than 70 human clinical trials, several of which are in the advanced stages of clinical testing needed before FDA approvals can be sought.

Community

Today, Breakthrough T1D supports the globally diverse, empowered community of adults living with T1D while still offering a vital lifeline to families when a child is first diagnosed. Since its founding by parents of children diagnosed with T1D, Breakthrough T1D has focused on finding a cure while making sure that people living with type 1 feel supported, visible and hopeful. From the moment of diagnosis, Breakthrough T1D is there with resources, opportunities to connect with volunteers and the simple but powerful message that you are not alone.

The Breakthrough T1D One Walk and other events unite the T1D community like nothing else can. Each year, nearly a million people across the country and around the world join together to show strength, raise funds for research and stand in support of people living with T1D. The millions raised through Breakthrough T1D One Walk, Rides to Cure Diabetes and other fundraising events fuel research initiatives and strengthen the fiber of the T1D community all while serving as a powerful reminder of the work that remains to defeat type 1 diabetes.

Advocacy 

Twenty years ago, the fight against type 1 diabetes got a powerful new ally: the American people. That year, Congress — thanks to Breakthrough T1D volunteer leadership — created the Special Diabetes Program (SDP), putting type 1 diabetes high on the agenda of NIH and directing millions to cure the disease. Since its creation, Breakthrough T1D has increased the program and fiercely defended it through federal fiscal crises to accelerate progress against T1D. Nearly $2.8 billion in federal funding has gone into type 1 diabetes research since SDP began. Over those two decades, Breakthrough T1D has served as a sophisticated partner working for smart policies to help people and families living with type 1 while ensuring federal research funds continue flowing to wipe out the disease.

 Breakthrough T1D sends hundreds of adults and young people living with T1D to Capitol Hill, and to their representatives’ home districts, year after year to share their stories and lobby for funds to the disease. Breakthrough T1D drills down into the pain points for people living with T1D, demanding better coverage for the disease under Medicare and taking on insurers for access to affordable insulin and new technologies to control type 1 diabetes.

Financial and Operational Highlights

Current (FY25) Operating Budget is $250M with 600 FTEs; the FY24 Operating Budget was $230M. In fiscal year 2023 (FY23), Breakthrough T1D drew $311M in additional funding and investments for T1D therapy research and development from partners in the private and public sectors, including:

• $22.6M from NGO and other funding $124.8M from industry partnerships and investments
• $163.6M from U.S. and international government funding

In FY23, the T1D Fund catalyzed $94.9M in private venture capital investment in novel companies developing innovative T1D therapies. This is included in the $124.8M of industry partnerships and investments.

During the past five fiscal years, through research grants and T1D Fund investments, more than $1B has been directed to cure T1D and improve lives—with most of it (approximately 82 percent) focused on cures. (This represents committed capital and includes tranched financing that may not have had capital deployed yet.)

Breakthrough T1D is a Charity Navigator four-star charity, Platinum Level Guide Star participant, and a Better Business Bureau (BBB) Accredited Charity.

Scope and Responsibilities

The Chief Financial Officer (CFO) is an executive-level position reporting to the Chief Operating Officer (COO) of Breakthrough T1D and will play a critical role in supporting the financial, operational and strategic objectives of Breakthrough T1D. The successful candidate will be a forward-thinking and highly collaborative leader, partnering closely with the COO and the broader senior leadership team to steward Breakthrough T1D’s resources and to support the organization’s continued impact.

The CFO is responsible for directing the day-to-day fiscal functions of the organization, including oversight of all financial operations including accounting and investment activities, capital and operating budgeting, audit and tax activities, enterprise risk, and financial reporting. The position works closely with and serves as an advisor to Breakthrough T1D’s senior leadership and the Finance & Investment, and Audit & Risk committees of the Board.

The CFO directly partners with the COO to help guide the overall financial, risk, regulatory, and compliance issues of the organization. The CFO serves as a liaison for Breakthrough T1D’s banking relationships, investment advisors, auditors, and other agencies and control bodies regarding fiscal matters.

Specific Responsibilities

• Advise the CEO, COO, and other key members of senior leadership on financial planning, budgeting, cash flow, investment priorities, and policy matters.
• Serve as the management liaison to the Finance & Investment, and Audit & Risk committees of the Board; effectively communicate and present financial information at committee & IBOD meetings.
• Evaluate and strengthen, where necessary, Breakthrough T1D’s system of policies, internal controls, standards and procedures. Establish practices and implement systems to support high performance, efficiency and accountability.
• Continue the development of financial metrics (dashboards) to enable the senior leadership’s understanding of Breakthrough T1D’s financial position, performance, risks, and opportunities.
• Administer all accounting and treasury activities including monthly closings, accounts payable, accounts receivable, payroll, cash management, revenue and expense reporting, tax filings, audits, etc.
• Oversee the preparation of Breakthrough T1D’s annual and long-range operating and capital budgets.
• Manage relationship with third-party investment management firms and directly manage all accounting activities including monthly, quarterly, and year-end reconciliations related to Breakthrough T1D’s investment portfolio to ensure asset values are appropriately reported.
• Ensure compliance with all Federal, State, and City Regulations applicable to the financial activities of Breakthrough T1D.
• Partner with Finance team members to develop clearly defined roles, processes, and measures of success that facilitate open communication and positive working relationships within the department and with the broader organization. Provide mentoring and supervision to Finance team.
• Ensure each member of the Finance team has an appropriate understanding of Breakthrough T1D’s mission and where he or she fits within that mission.
• Align financial strategies with the mission and values of Breakthrough T1D.  

Key Selection Criteria

• Strong academic credentials required; MBA or another relevant advanced degree preferred.
• Candidate should be a CPA with strong background in accounting, financial strategy and planning.
• Minimum 10 years’ experience in financial leadership roles with deep knowledge of finance, accounting and financial management is required.
• Experience working with and supporting committees and Boards of Directors.
• Strong management skills; experience coaching and providing mentorship to a team with diverse levels of expertise.
• Commitment to and track record of impact in the area of diversity, equity, and inclusion.
• Strong analytical skills and experience interpreting a strategic vision into an operational model.
• Working knowledge of data analysis and performance/operations metrics.
• An interest in, and commitment to the mission of Breakthrough T1D.
• Global expansion experience a plus.

Critical Competencies

Strategic Financial Thinking

Breakthrough T1D seeks an accomplished finance leader, trained in a rigorous environment, who can provide expert financial leadership and insight in a complex and rapidly changing environment by:

• Supporting Breakthrough T1D’s financial strategy and models; identifying and recommending opportunities to senior leadership and the Board that will maintain or improve funding streams; and leveraging the organization’s available resources for maximum programmatic impact.
• Ensuring that all policies and procedures are well documented and well understood throughout the organization; and,
• Leveraging strong finance and accounting skills to develop accounting judgments and financial processes across a complex organization.  

Communication

The CFO will be a collaborative, communicative partner who will lead change through engagement, influence, and a strong service orientation. S/he will:

• Be a finance leader who proactively sees opportunities and contributes to the development of systems, policies, and structure to support a world class finance organization;
• Ensure that Breakthrough T1D is adhering to the financial elements of its strategic vision, providing status reports to senior leadership and relevant committees of the Board; and,
• Have effective interpersonal, presentation, and communication skills and a demonstrated ability to engage openly and transparently across a diverse and complex community.

Leadership Skills

As an effective manager and team motivator who excels in a dynamic, fast-paced environment, the CFO will develop ideas and solutions to drive the implementation of financial systems and services that support the strategic priorities of Breakthrough T1D. S/he will:

• Be a leader who sets high standards and encourages ambition and creativity for finance personnel across the organization;
• Be a confident manager, coach, and mentor with the ability to attract, develop, and retain a high-quality diverse finance team. S/he will set high standards and assess performance against a high bar of excellence; and,
• Advise and collaborate with senior leadership to articulate organizational priorities and implement change in accordance with Breakthrough T1D’s strategic priorities, utilizing superior executive management skills.