Chief Financial Officer

Opportunity Communities, LLC (OppCo) is bringing its CFO staffing in-house to deepen the strong foundation provided by an out-sourced CFO.   OppCo is a two year old innovative business model designed to solve a pressing challenge in the community development industry.  It provides back office administration and the core affordable housing business lines of real estate development, asset management and tenant services to local independent community developer members.  The members remain independent, locally governed 501c3 corporations, retaining all assets, while leasing all staff and many services from OppCo.  The model offers the efficiency and capacity provided by scale, without sacrificing local control that is key in community revitalization.  OppCo is poised to add new community developer members to its two founders, The Neighborhood Developers and Nuestra Comunidad Development Corporation.  Currently, OppCo employs 45 staff; the Real Estate Development team has 13 projects in active development, the Asset Management Team oversees 2800 units of housing and some 50 commercial leases, and Resident Services (tenant services) supports 1300 households.

The CFO will supervise a strong and competent Controller who manages a Finance Team that includes a Senior Accountant, 2.5 Accountants, and a Junior Accountant.  OppCo investments in technology support efficient accounting and oversight. 

The successful CFO will share a passion for mission driven work grounded in sound business practices.  They will savor complexity, diversity and partnership.  The key roles for the strategic decision maker include: Setting and managing financial goals including program and member growth; cash management; investor, lender and grantor relations; financial policy and compliance oversight.

Specific responsibilities include:

Finance

• Oversee cash flow planning and management to ensure availability of funds as needed.
• Oversee cash, investment, and asset management policies.
• Oversee corporate financing strategies and activities, as well as banking relationships.
• Develop and utilize forward-looking, predictive models and activity-based financial analyses to provide insight into the organization’s operations and business plans.

Planning, Policy, and Investor Relations

• Oversee the development and monitoring of budgets; and present to the Boards.
• Develop financial business plans and forecasts to ensure OppCo and Member sustainability.
• Ensure future program growth and member expansion plans are aligned with financial projections.
• Participate in corporate policy development as a member of the senior management team; lead financial policy development.
• Engage the finance committee of the boards of directors to develop short-, medium-, and long-term financial plans and projections.
• Represent the company to financial partners, including financial institutions, investors, foundation executives, auditors, public officials, etc.
• Remain up to date on nonprofit accounting and audit best practices and state and federal law regarding nonprofit operations.

Accounting and Administration

• Manage and develop the Controller who oversees the accounting and finance department to ensure proper maintenance of all accounting systems and function. Work with Controller to develop Finance staff.
• Ensure maintenance of appropriate internal controls and financial procedures.
• Ensure timeliness, accuracy, and usefulness of financial and management reporting for federal and state funders, foundations, OppCo Member Finance Committees and OppCo’s Joint Finance Committee and board of managers; oversee the preparation and communication of monthly and annual financial statements.
• Provide individual reporting for OppCo Member boards of directors as needed.
• Coordinate and present audits and proper filing of tax returns, with audit prep managed by Controller.
• Ensure legal and regulatory compliance regarding all financial functions.

Qualifications

The CFO will be a seasoned and mature leader with at least 12-15 years of broad finance experience, including experience gathering and evaluating financial information and making actionable recommendations to senior leadership. She or he will ideally have experience managing finance (accounting, budgeting, control, and reporting) for a complex nonprofit with multiple funding sources including government (federal and state) contracts and affordable housing real estate development and ownership, and an affiliate structure with multiple members.
The CFO will have the following experience and attributes:

• A minimum of a BS; a CPA and/or MBA would be a plus.
• At least five years’ experience as CFO or equivalent, preferably in a nonprofit organization with a budget of at least $8 million and multiple affiliate or subsidiary companies.
• Experience in a senior financial-management role, partnering with executive staff, resulting in the development and implementation of creative financial management strategies.
• Significant experience in or knowledge of nonprofit accounting, including sophisticated fund and grant accounting, compliance, and reporting.
• Deep knowledge and understanding of the Office of Management and Budget Circular A133 audit.
• Expertise in affordable housing development or ownership; preferably both.
• Experience working with information technology staff to manage finance and accounting (Sage) software packages.
• Excellent written and oral communication skills.
• Ability to work in a complex organizational matrix with demonstrated leadership ability, team management, and interpersonal skills.
• Excellent analytical and abstract reasoning skills, plus excellent organization skills.