Director of Finance/Controller

Description

Company Overview

Davenport Associates, Ltd. (DA) is a 50+ year-old, family-owned affordable housing real estate management company based in Providence, Rhode Island. DA serves as the general partner and management company for a five-property portfolio of 600+ Section 8 Project-Based Rental Assistance (PBRA) units serving an elderly population — Charlesgate East, Charlesgate North, Charlesgate Park, Charlesgate South, and Parkis Place — all regulated by RIHousing with Low-Income Housing Tax Credit (LIHTC) overlays. 

Position Summary

The Director of Finance/Corporate Controller (Controller) is the senior financial officer of Davenport Associates, Ltd., reporting directly to the President & CEO and serving alongside the Director of Operations and Director of Human Resources as a member of the executive leadership team. The Controller has broad responsibility for accounting, financial reporting, budgeting, treasury, and regulatory compliance across the management company and its five affiliated limited partnership property entities and is responsible for developing and maintaining accounting systems and business office procedures in compliance with GAAP. This is a hands-on role requiring both technical accounting expertise in affordable housing, LIHTC, and HUD-regulated real estate, and the ability to build standardized financial reporting, documented processes, and compliant systems for an organization in leadership transition.

Key Responsibilities

Financial Reporting & Board Reporting

• Prepare and deliver a standardized monthly financial reporting package to the President & CEO and Board of Directors covering all five properties, including operating cash positions, budget variance, accounts payable/receivable aging, and reserve funding status against required minimums.

• Prepare consolidated and entity-level financial statements (income statement, balance sheet, cash flow) for Davenport Associates and each of the five limited partnership entities.

• Prepare monthly Per Diem Analysis and other financially related management reports.

• Lead quarterly financial review meetings with senior management, property managers, and maintenance personnel.

• Support quarterly and annual Board presentations with clear, accurate financial narratives.

Multi-Entity & Partnership Accounting

• Maintain accurate books and records for each of the five affiliated LP property entities, with proper segregation and intercompany reconciliation.

• Manage management fee calculation, billing, and intercompany transactions between the management company and each LP.

• Submit monthly and annual investor reports to fulfill partnership/investor obligations.

• Maintain and reconcile replacement reserve and operating reserve accounts against RIHousing/HUD required minimums; prepare and submit Replacement Reserve requests for capital improvements, coordinating with RIHousing and investor partners.

Budgeting, Forecasting & Variance Analysis

• Lead the annual budgeting process for the management company and each property, in coordination with the Director of Operations and property staff, maximizing revenue, profitability, and cost control across all properties.

• Prepare monthly cash flow projections.

• Monitor actual performance against budget monthly; identify and explain material variances; recommend corrective action.

• Support NOI, debt service coverage, and reserve-level analysis by property to inform capital planning, refinancing, and re-syndication decisions.

Regulatory & Program Compliance (HUD / RIHousing / LIHTC / HOTMA)

• Serve as a core member of the HOTMA (Housing Opportunity Through Modernization Act, Sections 102 & 104) working group alongside the President & CEO and Director of Operations, with lead responsibility for the compliance gap analysis, updated Tenant Selection Plan and EIV Policy & Procedures documentation, and RIHousing/HUD submissions ahead of the January 1, 2027 deadline.

• Ensure HAP subsidy billing, HUD-50059 workflows, and TRACS submissions are accurate and timely across all five properties.

• Submit quarterly and annual financial reports to RIHousing; support RIHousing loan compliance, including payment history, covenant compliance, and correspondence.

• Support LIHTC compliance reporting and coordinate with the state allocating agency and syndication partners as needed.

• Assist with the completion and submission of Rent Schedules for all Section 8 properties.

• Submit annual requirements to secure Resident Service Coordinator Grants for all Section 8 properties, including Standards for Success (SFS) and HUD 91186-A reporting.

• Oversee RAMP program usage and reporting.

• Maintain entity registrations in SAM (System for Award Management).

• Maintain and develop positive working relationships with state, federal, and industry agencies, including RIHousing, HUD, and the National Leased Housing Association.

Systems & Process

• Lead the finance-side implementation of the RealPage Financial Suite migration from Sage 50, including confirming HOTMA/TRACS 203A compatibility, testing submission workflows, and training accounting staff.

• Own the accounting system of record and chart of accounts, paralleling the HUD/RIHousing Principles of Reimbursement, and the month-end/year-end close calendar, including review of journal entries (AP, AR, payroll) and general ledger analysis through trial balance.

• Partner with the President & CEO on development of a formal SOP library covering accounting, treasury, and compliance processes.

Treasury, Accounts Payable/Receivable & Internal Controls

• Serve as bank administrator; oversee cash management, banking relationships, and signatory processes across all entities in coordination with the Secretary/Treasurer; review and post tenant rent payments and complete monthly bank reconciliations.

• Oversee accounts payable and accounts receivable functions, including aging management, collections, and A/R listing review and follow-up, including establishment of bad debt as needed.

• Assist in the negotiation of insurance- and benefits-related vendor contracts (utility broker, health benefits broker) and monitor renewals, including Workers' Compensation, employee health benefits, and corporate policies.

• Design and maintain internal controls appropriate to a multi-entity, federally regulated affordable housing organization.

Audit & Tax

• Serve as primary liaison to the independent audit firm for annual audited financial statements for each LP entity; schedule and prepare for the year-end audit and annual Workers' Compensation audit, including completion of field work.

• Coordinate with outside tax preparers on federal and state tax return preparation for all entities.

• Complete and submit City of Providence Annual Return tangible tax filings and Affordable Housing 8% Assessment tax filings for all properties.

• Maintain audit-ready documentation and respond to Board, investor, lender, and regulator information requests.

Transaction Support

• Provide financial analysis and due diligence support for property refinancings and re-syndications, including the active Parkis Place re-syndication.

• Support financial modeling for investor and lender presentations.

Team Leadership

• Supervise accounting/bookkeeping staff, including interviewing, hiring, directing, and (in conjunction with Human Resources) disciplining and discharging Business Office personnel; train new Business Office staff.

• Reconcile weekly payroll reports and coordinate with Paylocity payroll administration to ensure payroll accounting accuracy.

Requirements

Qualifications

• Bachelor’s degree in accounting, finance, or a related field required; CPA (or CPA-track) preferred but not required.

• Minimum 7–10 years of progressive accounting/finance experience, including at least 3–5 years in affordable housing, LIHTC, or HUD-regulated multifamily real estate.

• Direct experience with multi-entity or limited partnership accounting structures required.

• Working knowledge of HUD Section 8 PBRA, LIHTC compliance, and RIHousing (or comparable state housing finance agency) reporting requirements; familiarity with HOTMA Sections 102 and 104 strongly preferred.

• Experience with property management accounting software (RealPage, Yardi, or similar); Sage 50 experience a plus given the organization's ongoing system migration.

• Strong Excel and financial modeling skills.

• Demonstrated ability to build and document financial processes and internal controls in an organization with limited existing infrastructure.

• Working knowledge of personnel administration and housing practices and procedures sufficient to give clear direction to department heads and other staff.

• Excellent written and verbal communication skills, including the ability to present financial information clearly to a Board of Directors and to translate complex numerical data into insights for non-financial audiences.

• High degree of integrity and discretion; comfort working closely with Board members on sensitive financial matters.

Work Environment & Physical Requirements

This is primarily an office-based role. The Controller must be able to use standard office equipment (computer, phone, calculator) for extended periods, and to see, hear, and communicate effectively with staff, tenants, and outside parties. Occasional travel between Davenport's five Providence-area properties is required.

Compensation

• Salary range: $130K to $150K per year, commensurate with experience.

• Benefits include medical, dental, and vision insurance; 401(k) with employer match; Employee Assistance Program; paid time off; 12 paid holidays; and professional development/tuition reimbursement support.

Davenport Associates, Ltd. is an Equal Opportunity Employer