Controller, Finance

Description

Reporting directly to the Chief Financial Officer, the   Controller is the senior accounting and financial reporting leader for New   Jersey Community Capital (NJCC), a nonprofit Community Development Financial   Institution (CDFI), and its consolidating and non-consolidating affiliated   entities, including entities with external partners. The Controller is   responsible for the accuracy and timeliness of all accounting, financial   reporting, audit, tax and compliance functions; owns the monthly close and   internal control environment; oversees loan portfolio accounting and CDFI   Fund, the real estate portfolio (including property management and   construction/development accounting) and lender/investor reporting; leads the   accounting team; and partners with the CFO and executive leadership on   financial strategy.

Requirements

Leadership & Management

· Lead, mentor and develop the accounting team (e.g., Assistant Controller, Senior Accountants); set priorities, review work   product and manage performance.

· Partner with the CFO on financial strategy, budgeting, forecasting and liquidity; present financial analysis to the   executive team and Board committees (e.g., Finance, Audit).

Annually

· Lead the annual financial statement audit for   NJCC and non-consolidating entities as primary liaison with external   auditors; fulfill audit requests, prepare responses to financial statement   questions and oversee GAAP-compliant financial statements and footnotes (ASC   958).

· Oversee Single Audit readiness, as applicable.

· Oversee year-end accounting for the real   estate portfolio and project-level entities, including capitalization versus   expense of development and construction costs, depreciation, impairment   review, and consolidation determinations; support property-level and   partnership audits and cost certifications.

· Oversee accounting and reporting for   tax-credit and real estate partnerships (e.g., LIHTC, NMTC, historic tax   credits), including equity-method accounting, allocations, investor reporting   and coordination of partnership tax returns with outside advisors, as   applicable.

· Oversee tax and regulatory filings with   outside advisors and ensure proper completion of annual tax reporting.

· Lead the annual budget process and CDFI Fund   certification and reporting (Annual Certification Report, Institution Level   Report, Transaction Level Report).

· Review and approve the annual allowance for   credit losses.

Quarterly

· Provide budget-to-actual variance analysis and   explanations to the CFO, management, and the Board.

· Prepare and review covenant compliance and   lender/investor reports, including portfolio performance, delinquency and   loan loss reserves.

· Review balance sheet reconciliations, including equity accounts and net assets, to ensure all balances are valid, and monitor and follow up on open receivables, including Property Management   fees.

· Review expenditures, match and compliance   requirements for federal, state and other awards (including CDFI Fund and   other grants).

· Review construction-in-progress and   development project cost reports, including budget-to-actual, contingency, change orders, retainage, capitalized interest and soft costs, and   sources-and-uses; ensure costs are properly classified and supported.

· Review property-level financial statements and   operating reports (owned and managed properties), including replacement and   operating reserves, tax and insurance escrows, debt service coverage and   lender/investor covenant calculations.

Monthly

· Own the monthly close; analytically review   entity balance sheets and income statements.

· Ensure accuracy of intercompany accounts; review bank reconciliations and loan sub-ledger to general ledger   reconciliations.

· Review and approve journal entries within the   accounting system and ensure their accuracy, including loan, interest, fee   and debt-related accruals.

· Oversee property management accounting in   Yardi: rent roll and receivables aging, tenant security deposits, subsidy and   tenant receipts, property management and asset management fees, and   reconciliation of property sub-ledgers and bank/escrow accounts to the   general ledger.

· Oversee construction accounting: review and   approve construction draw requests and project payables, retainage and lien   waivers, accruals for work in place, and reconciliation of construction loan   balances and interest reserves; ensure costs are coded to the correct project and entity.

Ongoing

· Maintain strong internal controls and written   policies; ensure compliance with current accounting standards, including   ongoing accuracy of lease accounting under the new standard.

· Work closely with other departments to ensure   Yardi sub-ledger reporting (rental income, receivables, rent roll, escrow   balances) is accurate and agrees to the financial reporting system.

· Partner with Real Estate Development, Asset   Management, Property Management and Lending on project budgets, developer and   other fees, closings, draw schedules and project close-out so that accounting   treatment is accurate and consistent with GAAP and funder requirements.

· Support treasury, cash flow forecasting, debt   management, and new financing structures (e.g., NMTC), as applicable.

· Manage and optimize accounting and loan   management systems (Financial Edge, Yardi, Salesforce, and Benedict).

· Provide timely, accurate reporting to external   parties, including lenders, investors, funders, regulators, and the CDFI   Fund.

· Support Financial Management colleagues; interact often with other business areas and external parties while   performing responsibilities; complete or assist with ad hoc and one-off   projects and perform other related duties as assigned.

Qualifications

· Bachelor’s degree in accounting or finance required

· 8-10+ years of progressive accounting and   financial management experience, including 3-5 years in a supervisory role.

· Nonprofit, CDFI or financial institution   experience strongly desired; strong knowledge of U.S. GAAP and nonprofit   accounting (ASC 958) required.

· Experience with loan portfolio accounting, including CECL, loan servicing reconciliations and lender/investor reporting.

· Experience with federal grants compliance (Uniform Guidance, Single Audit) and CDFI Fund certification and reporting   strongly preferred.

· Experience leading external audits and   managing tax filings and consolidations for multiple entities; NMTC or real   estate/tax-credit accounting is a plus.

· Experience with property management accounting   for residential and/or mixed-use real estate (rent roll, receivables,   security deposits, reserves and escrows, property-level reporting), preferably including affordable housing and subsidy compliance.

· Experience with construction and development   accounting, including job-cost tracking, draw requests, retainage, capitalization of project costs, cost certifications and construction   lender/investor reporting.

· Demonstrated ability to supervise and develop   a team and build strong relationships with the CFO, executive staff, Board   members, auditors, lenders, and investors.

· Advanced Excel and Microsoft Office   proficiency.

· Demonstrated ability to balance multiple   tasks, collaborate with co-workers, work well independently in a fast-paced   environment, prioritize and meet deadlines, and maintain discretion with   confidential information.

· Strong written and verbal communication   skills, including explaining complex financial information to non-financial   audiences; and excellent networking, relationship management, and customer skills.

Licenses & Certifications

        Required

        · Active Certified Public Accountant (CPA) license in good standing 

        · Working knowledge of computerized accounting systems; Financial Edge, Yardi and/or Salesforce 

        · Compliance with continuing professional education (CPE) requirements needed to maintain licensure.

        · Satisfactory background and credit check and eligibility for coverage under NJCC’s fidelity bond and insurance policies.

        Preferred

        · Additional certifications such as CGMA, CMA or CFE.

        · Experience with affordable housing and tax-credit transactions (LIHTC, NMTC, historic tax credits), including investor and syndicator reporting and cost certification audits.

        · Training or experience in federal grants compliance (Uniform Guidance), CDFI Fund compliance or NMTC accounting.

Note

The Controller must comply with NJCC’s conflict-of-interest, confidentiality and code of conduct policies and applicable funder requirements. 

Work Schedule

This job’s primary responsibilities are expected to be handled during regular business hours Monday through

Friday 9:00 AM to 5:00 PM or adjusted as agreed by employee and supervisor. Some tasks may need to be completed outside of regular business hours or on the weekends. 

Work Environment

This job operates in a professional office setting with moderate notice and many unscheduled interruptions. Sitting for long periods of time is typically in this position but brief periods of walking or standing may occur. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets

and fax machines.  

Physical Demands

This is largely a sedentary role; however, physical ability may be required. This would be restricted to those needed in an office space including working with files, filing cabinets, and general office supplies/items.

Standing will be required as needed. 

Equal Employment Opportunity

This organization is fully committed to equal employment opportunity, maximum utilization of all employees, and employment and advancement regardless of race, color, creed, religion, sex, age, sexual orientation, national origin, disability, veteran status or any other characteristic protected by state, federal or local law.

Discrimination of any type will not be tolerated. 

Other Duties and Functions

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities

may change at any time with or without notice.