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Chief Financial Officer (CFO)

Danville Redevelopment & Housing Authority • Full-time • Danville, VA, US • $80k - $150k / year • 2w ago

Overview

The Chief Financial Officer (CFO) is responsible for overseeing and managing the financial operations of the Danville Redevelopment and Housing Authority. This includes budgeting, financial planning, reporting, risk management, and ensuring compliance with federal, state, and local regulations. The CFO will provide strategic financial leadership, support decision-making, and ensure the financial sustainability of the organization.

The CFO will play a vital role in supporting the Housing Authority’s mission by ensuring financial integrity, optimizing resources, and promoting sound financial decision-making. This position requires a strong leader with deep expertise in public sector finance, housing authority operations, PIC, Yardi, and compliance with federal, state, and local financial regulations.

Responsibilities

·Directs the work of the Accounting Department assigned staff including assigning, planning, and reviewing work, evaluating work performance, and completing performance evaluations, coordinating activities, maintaining standards, allocating personnel, selecting new employees, training, providing technical advice, acting on employee problems, and recommending and implementing discipline and merit raises. Ensure employees under his/her purview have the tools necessary to manage daily operations.
·Directs all fiscal functions within DRHA
·Monitors all funds/programs for compliance with budget/grant requirements.
·Prepares monthly and annual financial statements including the annual Financial Data Schedule (FDS)
·Manages the accounting department effectively and efficiently while exhibiting great leadership.
·Ensures financial records are maintained and compiled in accordance with standards.
·Maintains a system of accounts, records, and reports, including cash flow requirements and analyses, that reflects the financial status of the Federal and State programs managed by DRHA and of properties that DRHA owns, operates, and manages; recommends changes to DRHA Financial policies and procedures as needed in partnership with the CEO.
·Establishes and/or revises internal controls as needed.
·Conducts ongoing quality control auditing of Accounts Payable, Tenant Accounting, Payroll, HAP Processing and Bank Reconciliations
·Submits operating subsidy requests to HUD assuring the accuracy of the data.
·Prepares annual operating budgets for the Executive Director, senior staff, and Board of Commissioners.
·Conducts fiscal analysis of assets in portfolio to maximize financial performance, to include annual revenue analysis, capital accounts analysis, tax credit exit strategies, and refinance opportunities.
·Reviews and approves accounts payable activity.
·Coordinates compliance and financial reviews and audits; serves as primary contact with auditors by providing required information, coordinating documentation needed form other staff, reviewing draft and final audited financial statements and reports, and transmitting reports to all authoritative agencies, Prepare independent audit support schedules.
·Prepares financial reports and other information to the CEO and senior staff. Prepares monthly financial reporting of all DRHA, including HCV and Affordable Housing programs, business activity, and ROSS/FSS programs; submits reports to CEO and senior staff for board reporting. Prepares and submits monthly/quarterly reporting to developers and investors.
·Ensures Compliance with relevant laws and regulations and integrity of financial data.
·Prepares and distributes periodic asset management reports to investors, consultants, and other partners.
·Ensures HUD Performance Standards and reporting requirements are maintained or improved to high performance levels.
·Prepares and processes month-end close, prepares checks, provides lease-up numbers, and expense reporting to HUD, analyzes data and project numbers regarding future needs.
·Evaluates and advises on business operations including revenue and expenditure trends, financial commitments, and future revenues.
·Prepares and processes month-end and year-end close for multiple properties and Federal programs in appropriate software system, including account analysis prior to close for corrections; posts related journal entries from close.
·Performs reconciliations and draws of HUD grants. Coordinates FSS/ROSS grant usage and projections by expiration date and HUD yearly reporting requirements.
·Directs compilation, preparation, and submission of yearly Operating Subsidy request to HUD. Prepares and submits monthly Mixed Finance Operating Subsidy payment requests.
·Directs the budget preparation and continuously manages budget and forecast activities including HUD Two Year Tool
·Prepares 1099s for HCV landlords and accounts payable.
·Ensures accurate and timely monthly, quarterly, and year-end close processes.
·Updates Obligations and Expenditures in REAC for all Capital Fund Programs and Grants
·Monitors and approves all general ledger entries.
·Serves as a liaison between DRHA and banking institutions and auditors.
·Responsible for investment of agency funds including monitoring and record keeping.
·Recommend/write policy and implement procedures as a result of new program(s) and program expansion growth.
·Research and take all measures necessary/allowable to obtaining full funding potential. HCV leasing and HAP expenses must be monitored monthly with decision making on additional leasing.
·Completes other related duties as assigned.

Qualifications

·Bachelor of Science or higher degree in accounting or finance from an accredited college or university, plus 5 years of progressively responsible experience in government accounting, and a minimum of 3 years of management experience.
·Knowledge of HUD, other Federal, State and local government regulations related to the public housing authority and non-profit organizations’ financial operation.
·Must possess knowledge in PIC, Yardi and housing authority finances.
·Direct experience working in a financial environment applying GAAP and GASB.
·Direct experience preparing and submitting Voucher Management System (VMS) and Financial Data Schedule (FDS) reports (unaudited financial statements) to REAC (highly desired).
·Experience preparing public housing operating subsidy budgets (highly desired).
·Five (5) or more years of direct experience working as an Accounting Manager/Finance Director of a public housing authority is highly preferred and will receive higher consideration.
·Highly Desired: CPA designation and experience working in subsidized housing, community development organization and/or non-profit agency.
·Executive HCV Financial Management Certification within two years of hire
·Public Housing Executive Financial Management Certification within two years of hire.
Possession of a valid Virginia or North Carolina driver’s license