Director of Finance
Reports To: Chief Operating Officer
Financial Management & Controls – Manage all financial functions of Nuestra Comunidad and its affiliates including payables, receivables, general ledger, review of development budgets, billing, trial balances, financial statements, cash flow projections and payroll.
Specific Duties for Financial Management
- Responsible for oversight of preparation, review and analysis of monthly financial reports of CDC and all its subsidiaries and affiliates.
- Cash flow projections.
- Provide financial education across the organization to improve knowledge of accounting, project or program finances, and the financial impacts on the company caused by individual and collective decisions and efforts. The objective is to improve internal dialogue and decision-making and, thereby, to further development and implementation of a long-range financial strategy to improve performance and to ensure financial sustainability.
- Supervision or preparation of annual audit work papers for CDC and affiliates.
- Preparation of annual operating budgets and administration of these budgets. Reports to Board of Directors on financial status of CDC and related projects.
- Control and oversight (in cooperation with COO) of the development process including financing, construction administration, requisitions, projects’ sources and uses, external reporting. This includes payment of general contractor invoices and all required accounting/bookkeeping to maintain accurate records, from inception through cost certification process. Oversight of syndicated partnerships and the employment of the appropriate method to account for escrow and syndication accounts.
- Oversight of collection of accounts receivable and payment of accounts payable. Includes invoicing partnerships for contracted time of CDC staff, development/management fees, loan/interest repayment, etc.
- Assistance with budget preparation for fundraising proposals for general operating support, new projects, etc.
- Miscellaneous financial reporting or responses to various funding agencies, mortgagees, etc.
- Monthly financial reporting to the Finance Committee
Asset Management – Coordinate quarterly intercompany transactions with Property Management Agent’s accounting department and Nuestra’s Asset Management department, review accounting format and presentation of subsidiary/affiliate financial reporting, oversee preparation of consolidated statements for audit. Participate in Asset Management’s periodic review of asset performance and identify risks and benefits to impact future performance of Nuestra Comunidad.
Real Estate Development- Provide accounting support services to ensure the timely and accurate financial presentation of real estate assets during development, lease-up, and operation until asset is handed-off to Asset Management.
- During the pre-development stage – Assist in the development of a realistic management plan and operating budget for the project in conjunction with the Project Manager and Property Management Agent. Maintain cost records and records of financial funding sources; establish effective communications with Project Managers to ensure reconciliation between Real Estate Development’s deparmental records and Nuestra’s financial reporting. Assist Project Managers in the preparation of financial analyses and early “what if” scenarios and risk/return discussions.
- During the construction Stage– Assist the Project Manager as necessary in ensuring any financial documents that are required for loans, grants, housing subsidy or equity are timely submitted. Assist in Project Manager’s and Property Manager’s creation of a project compliance and monitoring schedule. Obtain necessary insurance documentation, copies of certificates of occupancy & send to applicable funders.
- For tax credit projects, with the assistance of Project Manager , prepare cost schedules for auditor’s certification. Participate in the formal transfer of completed projects from Real Estate Development Department to the Property Manager and Asset Manager.
- During initial lease-up — Assist with initial occupancy compliance for all new projects. Coordinate transfer of property financial information to the Property Manager’s accounting department.
- During occupancy stage – Develop (in conjunction with Asset Management staff, accounting staff, the Property Manager), a management and monitoring schedule, annual operating budgets; develop/revise capital budgets; review risk management issues; meet with Property Manager; and evaluate future refinancing options as recommended by Asset Management. With Project Manager, finalize the transfer of all financial information from the development and lease-up period, ensure the accuracy of footnotes for audit presentation.
- Identify “end term” situations (e.g., loan due dates, 16th year for tax credit projects), and assist Asset Management’s analysis of financial performance and identification of options on the property level.
- Manage organization-wide policies and procedures for human resources and operations.
- Identify and resolve human resources issues as they arise.
- Manage relationship with Insperity.
- Oversee compliance of personnel policies, benefit analysis, payroll administration staffing (including allocation and funding), insurance bidding and coverage contract approval.
- Assist COO in development and implementation of a competitive, strategic personnel retention and compensation strategy.
Other duties as assigned
Minimum 8-10 years of accounting and finance experience. Good management and interpersonal skills. Experience with housing development and financing preferred. Degree in accounting. Complete familiarity with accounting software and MS Office products.
Competitive salary and generous benefits.
Please submit a cover letter or email indicating your interest along with a resume to Arthur Allen, Chief Operating Officer at email@example.com
Nuestra Comunidad Development Corporation is an equal opportunity employer.