Chief Financial Officer

Job Description

Job Description

Description:

About Prospera

Prospera has been empowering families since 1993 by providing safe, high-quality affordable housing with support services to those in need. As a mission-driven, values-based nonprofit, Prospera is committed to fostering family stability and a strong sense of community by addressing individual needs.

At the heart of our work are our core values: integrity, accountability, excellence, commitment, dignity, fairness, and respect. These core values serve as our guiding principles and shape everything we do, from how we serve our residents, to how we support one another as a team.

At Prospera, every team member plays a vital role in advancing our mission. We welcome passionate individuals who are ready to make a meaningful difference in the lives of others.

POSITION SUMMARY

The Chief Financial Officer (CFO) serves as a strategic and operational leader responsible for stewarding Prospera Housing Community Services’ financial health, sustainability, and compliance in support of its mission to provide and preserve high-quality affordable housing for low-income communities. Reporting to the Executive Director/CEO and serving as a key member of the senior leadership team, the CFO oversees all financial operations, risk management, and financial strategy across a complex portfolio of housing assets, funding sources, and regulatory requirements.

ESSENTIAL JOB DUTIES/RESPONSIBILITIES:

Strategic & Executive Leadership

· Partners with the Executive Director/CEO and Board of Directors to develop and implement long-term financial strategy that supports the organizational mission and growth

· Provides timely, accurate financial analysis and insights to inform strategic decisions, capital planning, and organizational sustainability

· Serves as lead staff to the Board, Finance and Audit Committees, preparing materials and presenting financial results and projections

· Represents the organization through participation in trade and industry associations

· Represents the organization by attending meetings and functions held with government, banking institutions, funding agencies and other stakeholders

Financial Management & Reporting

· Directs all accounting, budgeting, forecasting, and financial reporting functions in accordance with GAAP and nonprofit accounting standards

· Oversees preparation and monitoring of annual operating budgets, multi-year financial forecasts, and cash-flow projections

· Ensures accurate consolidation and reporting across multiple properties, entities, and funding streams

· Prepares corporate budgets with departmental input

· Develops, publishes and maintains Policy and Procedures Manual for the financial activities of the organization, including documenting and monitoring internal financial controls

Housing Finance & Compliance

· Oversees financial management of affordable housing programs, including LIHTC (Low-Income Housing Tax Credits), HUD-funded programs, Section 8, and other public or private funding sources

· Ensures compliance with federal, state, and local regulations, funder requirements, and partnership agreements

· Coordinates property-level financial performance analysis, reserve planning, and long-term asset sustainability

Audit, Risk & Internal Controls

· Leads annual audits and tax filings (including Form 990), serving as primary liaison to external auditors, investors, and regulators

· Establishes and maintains strong internal controls, risk-management practices, and financial policies and procedures

· Ensures organizational adherence to best practices in financial governance and transparency

Treasury & Cash Management

· Manages cash, debt, investments, and banking relationships

· Oversees financing activities including loans, refinancing, bond issues, and capital structures for housing developments and renovations

· Monitors covenant compliance and investor reporting requirements

Grants, Contracts & Funding Support

· Supports grant development and contract negotiations by providing financial models, budgets, and compliance oversight

· Ensures proper tracking, reporting, and reconciliation of restricted and unrestricted funds

Team Leadership & Operations

· Leads and mentors finance staff; fosters a collaborative, high-performance culture grounded in accountability and mission focus

· Creates an atmosphere for open, two-way communications so that Prospera’s financial departments and front-line staff may provide input into the accounting process to improve firm’s product

· Recruits, trains, motivates and evaluates the performance of financial department personnel reporting to the Chief Financial Officer

· Evaluates and improves financial systems, property management integrations, and reporting tools to enhance efficiency and accuracy

· Collaborates closely with Property Management, Development, Asset Management, and HR teams

Performs other duties as assigned by the CEO

KNOWLEDGE/SKILLS/ABILITIES

· Thorough, experience-based knowledge and understanding of the principles and methods of financial administration, particularly in the areas of accounting, budgeting, auditing, grants management and investments

· Knowledge of federal, state and local laws, rules and regulations relating to the financial administration of public agencies

· Knowledge of LIHTC and HUD’s Programs and Regulations relating to multifamily housing properties preferred

· Working knowledge of computer hardware and both general ledger and property management software

· Knowledge of the techniques of program analysis and revenue forecasting

· Knowledge of the principles and techniques of budget development and administration. Ability to plan, direct, monitor and evaluate the services and activities associated with the financial activities of the Company

· Ability to develop, install and maintain sound accounting and financial reporting systems and procedures

· Skills and ability to prepare complex financial reports and analyses

· Ability to supervise and evaluate the performance of Departmental staff

· Knowledge of and ability to interpret and apply policies, procedures, rules and regulations and federal, state and local laws, rules and regulations relating to financial activities

· Ability to coordinate and facilitate meetings

PERSONAL ATTRIBUTES

· Mission-driven leadership with strong ethical standards

· Strategic and analytical thinking

· Clear, persuasive communication with financial and non-financial audiences

· Detail orientation combined with big-picture perspective

· Collaborative leadership and people development

EDUCATION AND EXPERIENCE REQUIRED

· Bachelor’s degree in Accounting, Finance, Business Administration, or related field required – MBA preferred

· Minimum of 15 years of progressive financial leadership experience required, with experience in nonprofit finance and affordable housing

· Minimum of two years of audit or tax procedures experience

· Current Texas CPA license required

· Proven experience working with Boards of Directors and senior leadership teams

· Experience supporting housing development transactions, limited partnerships, LIHTC and capital financing preferred

COMMUNICATION AND CONTACTS REQUIRED

· Maintains a positive work environment by creating job motivation

· Presents ideas clearly and influentially through various means

· Identifies/shares important information in a timely manner; appears knowledgeable and confident in communicating information.

· Ensures all administrative processes involving employees are handled on a timely basis

· Fosters a positive work environment embracing the Mission and Core Values of Prospera ( Integrity, Accountability, Excellence, Commitment, Dignity, Fairness and Respect ).

SUPERVISORY RESPONSIBILITIES:

The CFO classification is an executive classification which exercises general supervision over professional, technical, and clerical staff involved in the performance of the services and activities assigned to the Finance/Accounting Department.

DECISION MAKING RESPONSIBILITIES:

The CFO ensures timeliness, accuracy, and usefulness of financial and management reporting for board of directors. The CFO makes sure that all reports are made to all the appropriate departments in a timely manner. The CFO coordinates audits and makes sure the proper filing of tax returns is handled in a timely manner. The CFO ensures all legal and regulatory compliance regarding all financial functions is kept.

PHYSICAL AND MENTAL REQUIREMENTS/WORK ENVIRONMENT:

· Ability to handle prolonged periods of sitting at a desk and working on a computer

· Mobility and manual dexterity to work in a standard office environment and use standard office equipment

· Vision to read handwritten and printed material and a computer monitor

· Hearing and speech to communicate in-person and by telephone

· Must be able to lift and carry items weighing up to 15 pounds such as files, books or boxes of paper, forms or supplies

· Must have the mobility to traverse inclined terrain or climb stairs at the housing properties

· The mental work demands regular attendance, working well with others, verbal contact with others, noise, and occasional travel by conventional means including motor vehicle within Prospera’s region and other locations as required

· Hybrid work environment. Standard business hours with periodic extended hours during audits or budget cycles

COLLABORATION AND TEAMWORK AT PROSPERA

All roles at Prospera contribute to our shared mission of providing safe, high-quality affordable housing with support services to those in need. As such, we value collaboration across departments and all levels of the organization and expect all team members to work together in service of that mission. This means actively communicating with peers, informing colleagues of necessary and helpful information across functions, and modeling collaborative approaches to work. Regardless of role or title, every team member is part of a collective effort, and we succeed when we coordinate, share knowledge, and support each other in the pursuit of our goals. Prospera’s success and the ability to serve our mission ultimately relies on cross-functional teamwork, and collaboration is a standard expectation for every role.

LEADERSHIP EXPECTATIONS

· Be Accountable

o Take ownership of your work, follow through on commitments, hold your team accountable for results, and take responsibility for your impact.

· Act Like an Owner

o Approach your work with initiative, urgency, and the mindset that the organization’s success is your responsibility.

· Hold Weekly or Bi-Weekly 1:1s with Direct Reports

o Meet regularly to check progress, provide support, and offer feedback. No one should feel directionless or out of the loop.

· Follow Policies and Procedures

o Ensure you and your team are operating within organizational and regulatory guidelines. Ask for clarification when needed.

· Communicate

o Communicate clearly, consistently, and appropriately across all levels of the organization.

o Proactively share information with peers, solve problems together, and coordinate across departments regularly.

· Represent the Organization Well

o Model professionalism, responsiveness, and alignment with our mission — inside and outside the organization.

· Be Respectful

o Showing regard and consideration for others and showing respect for diverse opinions.

o Ensuring that all voices are heard during meetings, including but not limited to Regional and Team meetings.

o No use of electronic devices during meetings, including but not limited to All Staff, Regional, and Team meetings, unless absolutely necessary.

CONFIDENTIALITY

This position will have access to confidential and sensitive information, including resident information, financial data, organizational strategies, and personnel matters. Employees are expected to handle all such information in accordance with Prospera’s confidentiality policies and applicable laws, ensuring it is shared only with individuals who have a legitimate business need to know. Maintaining discretion and protecting the privacy of employees, residents, and the organization is a critical requirement of this role.