Position Summary: The Controller will be a strong financial leader whose primary responsibilities are to oversee the company’s accounting operations and to assist and advise the CEO and other Senior Staff in carrying out their duties of strategic corporate financial planning to ensure sufficient corporate income, liquidity, asset strength and long-term financial sustainability to meets its mission. As such, the Controller will be required to develop a thorough understanding of a complex organization and to have the vision to identify and reasonably mitigate financial and other business risks. Duties include maintenance of business processes and controls and periodically reporting to the CEO, the Finance Committee, the Board of Directors, investors and other financial partners. The Controller will work extensively across functional units in helping to improve internal communications, reporting functions and financial controls. The Controller will also be responsible for benefits administration, payroll and portions of the human resources function.
Essential Duties and Responsibilities:
Work closely with the CEO and Senior Staff to define and accomplish the goals, objectives and strategic plan established in collaboration with the Board of Directors.
Oversee and manage all day-to-day accounting, finance, payroll, benefits and human resource operations.
Supervise and direct accounting staff to ensure that payables, receivables and general ledger entries are timely and accurately recorded and all required reports are timely and accurately produced and that books are closed out on a monthly basis.
Lead a team of managers from other departments in the development of draft annual budgets for board approval and track budget performance through the year.
Ensure the effective and efficient management of the company’s financial operations, including financial policy development and implementation, external reviews, legal liaison, risk management, budget planning, Board reports, line of business reports, and active participation in corporate strategic planning.
Collaborate with others to conduct financial modeling, projections and forecasting to assess the short- and long-term adequacy of operating cash flows, equity fund reserve accounts and corporate treasury.
Develop and maintain in-depth understanding of real estate and capital market fundamentals, including but not limited to interest rate swap derivative instruments, to collaborate with Director of Equity Funds to monitor and manage fund viability and corporate capital risks.
Regularly evaluate the results of overall operations and communicate key elements of VCDC’s plans vs. performance to Senior Staff, Finance Committee, Board of Directors, employees, auditors, key stakeholders and others as appropriate.
Identify and evaluate additional key performance drivers and opportunities to improve VCDC’s effectiveness in meeting the needs of its business partners and the achievement of its mission.
Prepare monthly financial statements and accompanying schedules.
Maintain a cash management system that provides sufficient cash to meet the organization’s ongoing operating, legal, and strategic needs and forecast future corporate cash needs.
Maintain current awareness of and ensure conformance to relevant industry best practices.
Track the progress of the independent audits of over 100 lower-tier partnerships or LLCs managed by other parties. Supervise the preparation for independent audits of over twenty equity funds and several operating entities managed under the VCDC corporate umbrella.
Work with independent accountants to ensure the timely tax flings for all VCDC equity funds and its related corporate entities.
Serve as primary staff to Board Finance Committee.
Prepare ad hoc financial analyses as required by the CEO.
Other related duties as may be assigned.
Education, Knowledge, Skills and Abilities:
S. or B.A. in Finance, Accounting, Economics or equivalent and/ or at least 15 years of relevant experience with extensive experience in leading accounting teams— MBA or CPA preferred
At least 8 years of relevant experience in a financial institution, investment management company, real estate investor or a related field preferred
Strong accounting background (experience in real estate accounting and non-profit organizations a plus)
Strong sense of urgency and the ability to make informed, decisions quickly in ways that balance mission and fiscal considerations
Proven ability to understand how component elements interact and affect “big picture” concerns
Confidence in advocating positions that are based on sound principles and sound analysis
High integrity, passion for the VCDC mission and values, comfort in working in a fast-paced diverse organization and a sense of humor
Successful experience in leading the creation of performance metrics and streamlining internal processes
Strong oral and written communication skills and a sensitivity to the audience’s interests in preparing reports or making presentations
Comfort with/ enjoyment of solving complex, unstructured problems
A combination of educational credentials and relevant work experience will be considered
Other Key Requirements:
Motivated by VCDC’s mission and values
Respectful of VCDC’s history and what sets it apart from other organizations
Know and appreciate the places where our partners live and work
Be driven to solve problems, even problems that aren’t VCDC’s problems
A strong track record of achievement in housing and community development a plus
VCDC is a nonprofit that helps connect communities with human and financial capital to support locally driven revitalization. We want to see flourishing communities where neighbors thrive. We do this work with a focus on communities first, excellent customer service and partner support, and diligent persistence.
For over three decades, we have connected developers, investors, and communities with the mission to build affordable housing and revitalize historic properties in order to create thriving neighborhoods that benefit all residents. Our hands-on approach and extensive experience in every facet of community building helps us bring the right people together in order to drive change.