1743AH/MF Chief Financial Officer (CFO) Affordable Housing

“This position seeks “best-in-class” CFO to help drive our client’s strategic vision of building a BRAND and not just real estate projects. Therefore, we are open to discussing this opportunity with CFO candidates that have helped successfully build any recognizable company brand, regardless of product.  Those with experience taking a company public are of primary interest”

Established, progressive forward-thinking developer of Work-Force Housing in Los Angeles is seeking a solid CFO with an entrepreneurial spirit.

Our client is the local division of a $5 Billion real estate company based out of New York. Their Los Angeles division is breaking all boundaries in their developments. The Los Angeles team needs a local CFO that thinks like an entrepreneurial developer and can free up the Managing Partner of Development so that he can focus on the company’s growing pipeline.

This is an exciting group with energy, creativity and enthusiasm for what they are doing. If you want to be a part of this established, heavily backed and growing company reach out to me asap.

The Chief Financial Officer (CFO) is a member of the executive leadership team and has overall

responsibility for the finances and financial strategy of OUR CLIENT and its affiliates. The CFO will be tasked with optimizing the capital stack for all Real Estate transactions, managing the associated relationships, and understanding all available financing mechanisms relevant to the business plan. Working as a collaborative leader, the CFO is responsible for managing and reporting on all fiscal and fiduciary affairs of the organization, including reporting to investors, lenders, grantors and government agencies; cash and investment management; budgeting and forecasting; and managing the day to day operations of the accounting department. In addition, the CFO is responsible for the

Asset Management department that oversees all property and company assets.

The CFO collaborates with the MANAGING PARTNER and other local staff to develop and implement the organization’s business plan in order to meet its strategic goals. The CFO recommends the financial strategy for reaching the organization’s goals, monitors and analyzes financial results.

Related Duties and Responsibilities:

Organizational Strategy and Results:

• Together with the MANAGING PARTNER , develops the strategy to ensure that the organization has the financial resources needed to achieve its current and future goals, while mitigating financial and operational risk
• Serves as a key advisor to the board of directors, and convener of the finance/audit and investment committees
• Develops and maintains effective working relationships with key financial partners including funders, investors, partners, government agencies, consultants, and vendors.

Real Estate Development and Asset Management:

• Works collaboratively with Real Estate staff to review potential acquisitions, debt, equity and public subsidy proposals and partnership/operating agreements

• Reviews key legal agreements, including mortgages, loan documents, subordination agreement and guarantees as part of a financing and construction loan closing that may involve Low Income Housing Tax Credits, Historic Tax Credits, New Markets Tax Credits, bond financing, public subsidies and contracts, and/or private debt.

• Works closely with account to prepare and issue funding requisitions for all real estate development projects in construction
• In conjunction with the real estate development staff and auditors, insures that equity draws, project cost certifications and other specialized reporting to investors and government agencies are completed accurately and timely.

• Supervise asset management Works with several Low-Income Tax Credit and New Markets Tax Credit investors and lenders as they monitor operating performance and compliance of the Company’s affordable housing and commercial portfolio.

Financial Management and Reporting:

• Oversees organizational budgeting, accounting and cash management to ensure accurate reporting, interpretation and analysis of financial results in conjunction with forecasts and long range plans

• Manages and supports the preparation of the annual consolidated corporate audit and tax returns

• Prepares the annual corporate consolidated financial statements
• Oversees and reviews property audits and tax returns prepared by the Company’s professional services firm.

• Establishes and maintains controls to safeguard assets; documents and recommends improvements to internal financial policies and procedures

• Develops and complete timely financial statements and report on transactions and/or information requests.

• Manages and monitors the organization’s cash flow and real estate development capital needs.

• Optimizes the investment of funds in accordance with the Company’s Investment Policy.
• Supervises accounting staff on day to day operations that includes, but is not limited to, month/year end close, accounts receivable & payable, financial reports, payroll, invoicing, cash receipts and disbursements.
• Maintains various liability and insurance policies

Board and Committees:

• Attends all Board of Director meetings.
• Coordinates activities of the Finance/Audit and Investment committees including developing agendas and providing reports on financial, investment and organizational performance and projections and other information to committee members in a well-organized, accurate and timely fashion.

Qualifications:

• At least 10 years of demonstrated relevant finance and accounting experience, with at least five years’ experience as a CFO or Director of Finance, with both technical and management proficiency in operations of a real estate development organization

• Extensive successful transactional track record from deal commencement to completion
• BA or MBA in Finance or Accounting required, other additional relevant advanced degree and/or certification, such as a CFA or CPA CFA, CPA desired but no required.

• Knowledge and experience with real estate accounting and finance, preferably in affordable multi-family housing

• Use of collaborative and facilitative approach and the flexibility to work with broad range of cultures, personalities, and work styles.

• Commitment to community development, helping low income communities and strong work
  ethic and understanding of nonprofit business models
• Professional demeanor and willingness to cooperatively participate on a team in a mission-based organization.
• Ability to demonstrate the greatest level of flexibility in an environment with frequent changing priorities required to meet the needs of OUR CLIENT’s internal and external customers.

• Demonstrated experience with design and implementation of enhanced financial systems and procedures

• Demonstrated ability to prepare clear, accurate, well-organized written and financial reports and to communicate verbally in an effective and concise manner.

• Proficient in Microsoft Office, accounting software programs, and network administration.
• Supervisory experience required.