Chief Financial Officer
9 days ago
Washington
Job Description The HOUSING ASSISTANCE COUNCIL (HAC) is a national nonprofit that helps build homes and communities across rural America. Founded in 1971, headquartered in Washington, DC, and working in all 50 states, HAC provides loans for affordable housing development, training and technical assistance to community-based organizations, and in-depth research on rural community conditions. During 55 years of leadership in the housing industry, HAC has: invested over $350 million into local organizations that build affordable housing; assisted in the development of homes for over 75,000 families in need; and delivered over 250,000 hours of training to generations of small town and rural community builders. As an independent and assiduously nonpartisan organization, we regularly provide federal agencies, congress and local officials with the information needed to make evidence-based policy and programmatic decisions. Since its founding, HAC’s has worked to address unequal housing policies and systems that have disproportionately impacted rural places with the most need. It is a legacy that HAC continues to build on as the only national intermediary that focuses 100 percent of its attention and resources on rural communities. HAC has an annual budget of $11 million, $80 million in total assets, and $45 million in net assets. Approximately two-thirds of the annual budget comes from grants and contracts. The remainder is earned revenue as a Community Development Financial Institution (CDFI). HAC is governed by a sixteen-person Board of Directors and employs more than 50 staff stationed across the nation. The CFO will join a senior leadership team that includes the Chief Executive Officer, Directors of Training and Technical Assistance, Research, Policy and Lending, and the Development Manager. HAC administers its work through four strategies: • Lending – As a CDFI, HAC provides low-cost capital to borrowers in rural areas that do not typically have access to mainstream banks. This allows borrowers (often community development organizations and affordable housing developers) to add housing to the local inventory. HAC’s revolving loan fund supports the creation of new owner-occupied and rental housing and the preservation of existing apartments and homes;, • Training and Technical Assistance – HAC builds the capacity of local leaders and organizations who share the mission to alleviate poverty and build vibrant rural places. HAC provides formal training, one-on-one technical assistance, and connects local organizations to resources that can strengthen their communities. Examples include supporting local partners in developing their boards, analyzing their markets for housing development, managing their budgets for building and owning affordable housing, and accessing federal funds they need to address poverty and build prosperity., • Research and Information – HAC analyzes rural conditions, collects and manages data on the characteristics of low-income Americans, and disseminates information on small town and rural regions. Through newsletters, magazines, issue summaries, websites, data portals and a portfolio of more than 150 studies and reports, HAC’s research is constantly evolving to keep partners and policy makers informed., • Policy – HAC is an independent, non-partisan organization that works with members of Congress, federal agencies, affordable housing and community development organizations, and other stakeholders to ensure that vulnerable rural populations have improved access to safe and affordable housing opportunities. More information on the organization can be found at ruralhome.org. THE POSITIONHAC recently experienced a period of unprecedented growth and impact and is seeking a dynamic Chief Financial Officer (CFO) with the vision and skill to continue the organization’s successful trajectory. The CFO will be responsible for overseeing the accounting, finance, capital markets, and administrative functions of HAC, while also contributing overall leadership and strategy to the organization. This person will have a balance of financial savvy, strategic ability, and interpersonal skills to manage teams and serve as strategic advisor and resource to the CEO and Senior Leadership Team. The CFO will always be looking two steps ahead at the financial and organizational implications of making various decisions. The ideal candidate will embody the unique combination of this organization’s mission-driven yet business-minded approach to serving rural communities and alleviating poverty through affordable housing. Candidates for this executive position must come to HAC with a background in accounting or finance, experience managing staff, and service as a senior leader at a sophisticated and multidimensional organization, such as another CDFI, community lending institution, or housing-related non-profit. HAC expects applicants to be seasoned professionals, mid-career high-performers ready to join a C-suite and existing CFO’s wanting to be part of an excellent organization at an exciting moment in its history. The CFO reports to David Lipsetz, President & CEO and works closely with HAC’s Board of Directors, it’s Treasurer and Finance Committee. The CFO is a member of HAC’s Senior Leadership Team and is expected to work effectively with teammates on strategic planning, crosscutting initiatives and the regular activities required to operate a high-functioning organization. The CFO is expected to work in HAC’s downtown Washington, D.C. office with a portion of their work eligible for remote work. The CFO manages the Finance and Administration Department (FAD) that supports the budgeting, finance, and administrative needs of HAC and its various departments. The FAD team includes a Controller and accounting staff, budget analyst, and managers of the organization’s human resources, computer systems, and new business development. FAD supports the entire organization on a state-of-the-art accounting and enterprise resource planning system that integrates NetSuite for accounting and budgeting, Concur for expense management, ADP for human resources and Nortridge for lending. Core responsibilities for this position include: • Strategic Leadership: Serve as the strategic partner to the CEO as well as other members of the Senior Leadership Team on the financial performance, planning, and opportunities of the overall organization. Think holistically about each component of the organization and how decisions made across the board could affect HAC’s financial health. Utilize creativity and resourcefulness to turn abstract solutions into reality;, • Accounting and Reporting: Manage day-to-day finance and accounting operations, ensuring effective policies, procedures, internal controls, and systems are maintained. Report to the Senior Leadership Team and Board Committees on the financial health of the organization, including budget, investments, lending, and program operating activities. Ensure timely, accurate, and understandable financial reporting for federal and state funders, foundations, management team and Board of Directors. Lead audits and ensure proper preparation and filing of all tax returns;, • Financial Planning and Analysis: Develop and utilize forward-looking, predictive models and activity-based financial analyses to provide insight into the organization’s operations and business plans. This includes producing an annual budget that aligns with the company's overall strategic objectives and is used effectively for resource allocation and decision-making;, • Capital Planning: Support the development of annual and multi-year capital plans to expand the scale of affordable housing lending activities; support the creation of new programs, products, and initiatives; and apply capital markets methods to help facilitate new financing facilities and relationships with banks, foundations, and other financial institutions interested in impact investment partnerships. Serve as a thought partner on public and private fundraising activities, negotiate terms to meet HAC’s priorities, and limit compliance burden., • Capital Management and Compliance: Ensure timely loan and other capital product closings, disbursements, and related fund transfers. Support compliance with various programmatic and funder requirements. Collaborate with the Loan department to oversee financial asset management of outstanding loan and grant portfolios. Manage and report on lending, administrative, and organizational compliance to funders and investors, including commercial banks, private foundations, the Department of the Treasury’s CDFI Fund, the Department of Agriculture’s Rural Housing Service, and the Department of Housing and Urban Development programs. Ensure annual recertifications, permits, licenses and rating renewals. Maintain HAC’s good standing as a CDFI and regularly evaluate HAC’s performance relative to its peers;, • Internal Leadership: Build, manage, and mentor the accounting, finance, and operations teams. Lead administrative oversight functions, which include human resources, IT, and office management. Serve as executive champion of application software development and organization-wide financial accounting and loan management systems. Participate in HAC policy development as a member of the senior leadership team, and in the development and execution of the organization’s strategic plans;, • External Leadership: Represent the organization to financial partners, including investors, foundation executives, auditors and public officials. Represent HAC to the CDFI industry, rural community stakeholders, and affordable housing professionals. Easily translate financial reports and compassionately teach financial literacy to non-financial constituents. CANDIDATE QUALIFICATIONS AND EXPERIENCE Experience: A minimum of 15 years of accounting and/or finance experience in the non-profit sector with a focus on affordable housing and CDFI lending. Education: A bachelor’s degree is required, and an advanced degree (particularly an MBA) is preferred. A CPA designation is attractive but not required. The successful candidate’s career will have included: • Experience in a senior financial management role, resulting in the development and implementation of effective financial management strategies;, • Significant experience in, or knowledge of, accounting for non-profits and/or loan funds, including sophisticated fund and grant accounting, compliance, and reporting;, • Demonstrated experience partnering with a CEO to lead and successfully execute strategic initiatives, business development, innovation, and organizational change;, • Proven track record of problem-solving, resourcefulness, and exceeding set goals;, • Ability to think strategically, anticipate future trends, consequences, and build the organization framework to address dynamic circumstances;, • History of managing growth and aligning operations to support strategic business priorities as an excellent administrator with deep knowledge about protocols and procedures that ensure nonprofit organizations are high-functioning;, • Demonstrated ability to build and manage strategic financial relationships with public and private capital providers;, • Strong track record in relationship and trust building with staff, Board members, community leaders, and clients;, • Experience implementing innovative finance and accounting software. HAC has a tight-knit staff. We call ourselves HACsters. We are a diverse bunch and pride ourselves on being welcoming. We enjoy our work while maintaining a healthy balance with our lives. We care deeply about helping others. The ideal candidate will bring the following personal attributes: • A holistic approach to the role, leveraging an intellectual curiosity about the business and mission of HAC to add value to the overall organization well beyond the finance function., • Demonstrated effective managerial, coaching, and leadership skills with the ability to achieve results for the organization as a creative partner and valued colleague;, • Impeccable integrity;, • Excellent communication, facilitation, and negotiation skills;, • A positive outlook, with humor, humility and compassion, • Effective planning and deadline orientation to business management and operations;, • Patently supportive of HAC’s mission, as evidenced through professional, volunteer, or personal experience. Compensation and Benefits HAC offers competitive wages, benefits, and growth opportunities consistent with industry standards. Flexible benefits packages include health insurance; life and other insurance; financial benefits, to include a retirement plan with partial employer match; time off; and work/life benefits, to include education assistance. Salary range is $200,000 to $225,000 per year, commensurate with experience. Equal Opportunity Employment Information HAC is an equal opportunity provider and employer. HAC does not discriminate against any applicant or employee based on race, color, sex, religion, national origin, age, disability, or any other basis protected by applicable federal state, or local laws.