Job Title: Finance Director
Reports to: Chief Executive Officer
Date Prepared: November 16, 2016
The Organization and its Programs
Bridgeport Neighborhood Trust’s (BNT) mission is to lead, empower and change Bridgeport neighborhoods, by improving the quality of life through providing affordable housing opportunities. Founded as a nonprofit community development organization in 1986, we develop and manage affordable housing and provide comprehensive homeownership counseling. We seek a Finance Director to join our senior management team.
To date, BNT has developed 200 units of affordable rental and homeownership housing and 15,000 square feet of retail space. Currently, we have 48 units of housing and 2,500 square feet of retail space in construction. During the first quarter of 2017, will start renovating 32 units and 6,000 sq. ft. of ground floor retail space. In addition, we have another 100 units in our development pipeline. BNT owns and manages 156 units of affordable housing and 15,000 sq. ft. of commercial space scattered in over 20 buildings. Annually, we also over 1,500 clients through our Homeownership Academy who are either pursing the American Dream of buying their first home or struggling to keep their home.
BNT has experienced a period of rapid growth in its work and its staff in the past five years. We currently have a staff of 21 and an active board of 7. We partner with other local organizations. BNT has been recognized at the local and state levels for our work. We have successfully engaged philanthropic, governmental, and private donor stakeholders in support of our various initiatives.
Financial Management at BNT
The Finance Director is a new senior level position at Bridgeport Neighborhood Trust. To date, we have managed our financial operations together with an outside bookkeeping firm. An experienced accounting firm completes our annual audits. As we grow our housing development and property management portfolios, we seek to increase our internal capacity to manage our financial operations.
We seek an experienced director who will assume overall responsibility for financial operations at BNT, working closely with the Chief Executive Officer, Program Directors, and outside contractors. The Finance Director will oversee all financial accounting and operations for the organization, ensuring accurate reporting, forecasting and compliance with all funding requirements.
Duties and Responsibilities
Oversee Financial Reporting, Forecasting and Budgeting Processes
- Develop and oversee implementation of financial policies and procedures.
- Ensure that financial procedures are carried out by staff and outside consultants in conformance with generally accepted accounting principles and that internal control systems are maintained.
- Manage the agency’s cash flow, including ensuring prompt billing and monitoring of receivables, and active oversight of investments.
- Oversee reconciliation of general ledgers monthly.
- Monitor accounts payable, accounts receivable, and payroll functions.
- Produce monthly financial statements for BNT together with outside bookkeeping firm and in house staff.
- Work with Chief Executive Officer, Program Directors, and outside consultants to prepare annual operating and capital budgets.
- Deliver monthly budget reports to the Board of Directors.
- Work with the Chief Executive Officer, outside contractors, and Audit and Finance Committee to analyze trends affecting BNT’s financial performance.
- Ensure that annual audits are completed in a timely and cost-effective manner.
- Work with the audit firm, Chief Executive Officer and board Treasurer to ensure informative presentation of audit results to BNT’s board.
- Support Real Estate Project Administration
- Design and implement systems to track financial progress of real estate development projects together with BNT staff and outside contractors.
- Support real estate staff to prepare funding requisitions.
- Support property management staff to monitor and report on property financials.
- Maintain regular communication with project staff, lenders and consultants regarding project costs and financing requirements.
- Assist project managers as needed to develop budgets for real estate development projects.
- Oversee set up of new accounting entities as required for new development projects.
- Oversee monthly cash management through careful tracking of individual real estate projects as well as inter-company activity.
- Manage audit and compliance requirements for all affiliated real estate organizations, working in coordination with the Property Management Staff.
- Ensure preparation of cost certifications as required by funders.
- Manage annual reporting for lenders per loan agreements.
- Work with the Chief Executive Officer to assess existing portfolio: identify issues; consider disposing of non-performing assets.
- Work with the Chief Executive Officer to maximize and leverage each asset to the fullest including refinancing existing loans and adding mortgages to unmortgaged properties.
- Assist the Chief Executive Officer to achieve breakeven operations. “Right size” and allocate expenses depending on project financing structure.
Support Grant Management
- Work with program managers to develop program and contract budgets and monitor contract costs.
- Oversee monthly billings and financial reports for program contracts and grants.
- Work closely with program staff and fundraising team on projections and other grant related procedures.
Our Ideal Candidate
Our ideal candidate is a dedicated manager who enjoys working in a fast-paced mission-driven environment. They will be a flexible team player who brings: strong financial management skills; a basic understanding of real estate related accounting; and, an ability to grasp and stay up-to-date with complex program requirements.
Technical Skills and Qualifications
- Commitment to BNT’s mission, respect for the work of our nonprofit partners, and commitment to providing exemplary service to our clients
- BA in accounting, finance, or a related field
- 5-7 years of financial management experience, preferably in nonprofit community development, real estate development or property management
- Some knowledge of affordable housing development and property management preferred
- Some knowledge of non-profit accounting standards
- Knowledge of OMB regulations for non-profits preferred
- Knowledge of Sage MIP accounting system and Boston Post property management system preferred
- Excellent communication, interpersonal and presentation skills, both written and verbal
- Ability to maintain essential written records and reports
- Proven ability to work as a self-starter and team member
- Excellent project management skills, including a ability to work independently
- Demonstrated strong judgment and integrity
- Experience with Microsoft Office suite, including Word and Excel
The Selection Process
Please submit a cover letter, detailing your qualifications for this position and your salary requirements, along with a resume to firstname.lastname@example.org. No phone calls or letters please. Applications will be reviewed and acknowledged as they are received.
Bridgeport Neighborhood Trust offers a competitive salary and benefits package. We seek to fill this position in the first quarter of 2017.
Bridgeport Neighborhood Trust is an equal opportunity employer. Bridgeport residents, people of color and women are encouraged to apply.