Chief Financial Officer

Chief Financial Officer

Foothills Regional Housing

Denver Metro

Organization type: Government

Type of role: Full-time

Job Category: Finance

Salary: $160,000 - $180,000

OVERALL JOB OBJECTIVE:

The Chief Financial Officer (CFO) will direct all financial, accounting, for FRH. This position reports to the Deputy CEO and will assist in advancing the mission of FRH by providing leadership in the development and implementation of the agency's goals, policies, and strategic initiatives. The CFO is responsible for ensuring compliance with all applicable federal financial regulations and industry best practices via effective internal controls.

Duties and Responsibilities:

The position duties and responsibilities listed below describe the general nature and scope of work. Other responsibilities, duties, and skills may be required and assigned, as needed.

1. Oversees preparation of financial budgets, reports, and spending forecasts for approval by the Chief Executive Officer and Board of Commissioners. Ensures that budgets support long-term agency financial goals and meet specific commitments to financing partners. Analyzes income and expenditures for FRH to ensure compliance with approved budgets and financial procedures. Establishes and maintains internal controls to appropriately safeguard the Authority's funds.
2. Oversees the management and coordination of all fiscal reporting activities for the organization including organizational revenue/expense and balance sheet reports, reports to funding agencies and project financing partners, development and monitoring of organization and contract/grant budgets. Supervises the preparation and submission of the annual operating budget and other necessary reports, records, and information to the CEO.
3. Provides regular reports on the financial condition of FRH to the Chief Executive Officer and the Board; and ensures all financial reporting deadlines are met. Develops and implements effective reporting tools to facilitate strategic decision-making by the CEO and the Board. Recommends changes to FRH financial policies and procedures as needed.
4. Directs and monitors banking activities, treasury/cash management, investment policy implementation, liquidity projections, and financial performance of FRH by evaluating and examining results; initiating corrective actions; minimizing the impact of variances. Serves as point of contact for banking administration, investor and HUD-related financial matters.
5. Monitors spending of grant funds to ensure compliance with grant terms and conditions, and ensures effective internal controls are in place to meet GAAP and applicable governmental requirements for financial reporting. Ensures financial compliance with all LIHTC partnership requirements.
6. Facilitates proper accounting processes for real estate development and LIHTC partnership activities, including accounting for construction draws, loan closings, property acquisitions and dispositions, capital improvements, and other real estate transactions. Proactively monitors LIHTC partnership financials and assists CEO in strategic decision making around LIHTC partnership activities, including exits.
7. Manages the work of staff including assigning, planning, and reviewing work, evaluating work performance and completing performance evaluations, coordinating activities, maintaining standards, allocating personnel, selecting new employees, training, acting on employee problems, and recommending and implementing discipline.
8. Develops and maintains financial policies and procedures for housing programs such as LIHTC, Housing Choice Voucher, Market, Non-Federal, Section 8 PBRA and other FRH-managed programs. Assists in the development of Authority and related organization (i.e. Corp, FRH Connects, and SPEs) policies and procedures implementing federal, state, and local directives and statutes and other Authority requirements.
9. Provides reports to Senior Managers when documentation is required for timely payment to vendors. Ensures payroll for employees is processed in a timely manner. Ensures W-2 and 1099 reports are provided to employees, vendors and IRS as required.
10. Coordinates compliance and financial reviews, tax return preparation and audits; serves as primary contact with auditors by providing required information, coordinating documentation needed from other staff, reviewing draft and final audited financial statements, tax returns and reports, and transmitting reports to all authoritative agencies.
11. Participates as needed in preparation, submission and contracting of competitive funding applications.
12. Manages or supports due diligence processes for real estate and financial transactions.
13. Assists in the evaluation and acquisition of potential new FRH Assets and advises the CEO accordingly.
14. Assists the Executive Team in defining project concepts that meet strategic plan goals and carry out FRH's mission and advises the CEO on development strategy and feasibility.
15. Ensures HUD Performance Standards and reporting requirements adhere to high-performance levels.
16. Responsible for ensuring all HUD, Finance Agency and investor financial reporting is completed timely, including but not limited to FDS/REAC.
17. Meets all job safety requirements.

Required Skills and Abilities:

This position requires the incumbent to exhibit the following behavioral skills:

• Leadership
• Provides direction by clearly and effectively setting the course of action for department and subordinates; and manages performance by providing regular feedback and reinforcement to subordinates. This is a working leadership position and the applicant must be willing to assist with day-to-day duties as needed.
• Job Knowledge
• Exhibits requisite knowledge, skills, and abilities to perform the position effectively and uses appropriate judgment & decision-making in accordance with level of responsibility.
• Commitment
• Sets high standards of performance; pursues aggressive goals and works hard/smart to achieve them; strives for results and success; conveys a sense of urgency and brings issues to closure; and persists despite obstacles and opposition.
• Professional Behavior
• Exhibits positive, polite, courteous, honest, and conscientious behavior with all internal/external clients. Accepts responsibility for actions and adjusts behavior as appropriate. All activities must support the Housing Authority's ("FRH" or "Authority") mission, strategic goals, and objectives.
• Reliability & Judgment
• Employee demonstrates sound reasoning and critical thinking by making decisions in line with established Agency expectations. Performs work in a reliable manner that is both accurate and timely.
• Teamwork
• Balances team and individual responsibilities; exhibits objectivity and openness to others' views; gives and welcomes feedback; contributes to building a positive team spirit; puts success of team above own interests; supports everyone's efforts to succeed.

Education, Experience & Requirements

• Master's degree in business administration, accounting, finance, or related field preferred but not required.
• A minimum of seven (7) years of experience in governmental or real estate financial management, with a minimum of three (3) years in a supervisory or director capacity. An equivalent combination of education and experience may be considered.
• CPA preferred.
• Knowledge of, Section 8/Housing Choice Voucher Program, compliance with Government Auditing Standards, Low Income Housing Tax Credits, real estate development and construction accounting, Bond Financing, and other affordable housing programs.
• Must possess a valid Colorado driver's license and be insurable under the Authority's plan.
• Experience with Yardi software preferred.
• To perform this job successfully, the employee should have strong computer skills (e.g. MS Word, Excel, PowerPoint, and Outlook) and the ability to learn other computer software programs as required for assigned tasks.

PAY RANGE: $150,000 to $230,000

BENEFITS:

• Employer pays 100% premium of medical, dental, vision, short-term and long-term disability, and life insurance.
• Vacation and Sick time.
• 12 Paid Holidays
• Retirement plan, employer matches up to 10% of retirement contributions.

WORKING CONDITIONS:

• Physical Demands: The position is in an office setting. In the office it is primarily sedentary but requires the ability to move boxes or items weighing a maximum of 20 pounds; positioning oneself to maintain files in filing cabinets; ability to operate personal computers and office equipment; ability to observe documents and record and interpret information; ability to communicate information and ideas so others will understand. Must be able to exchange information in these situations.
• Work Environment: Works in a clean, comfortable environment in the