Position Summary
MDHA is unique among housing and development agencies in its mission, scope and structure. Thus, we are seeking a unique individual with a congeries of experiences and qualifications that are beyond those typically found in housing authority CFOs. While some housing and development finance experience, especially with federal and state housing regulations, is preferred, we will also consider qualified candidates from the corporate and government sectors as well. In addition to proven strategic planning, communications, administrative and managerial skills, this position requires a thought leader who is investment savvy, with expertise in complex financial, real estate and development transactions including commercial, municipal and tax increment financings.
Knowledge, Skills and Abilities Required
1. Effective and Ethical Leadership
Leadership is acting in a decisive manner that gets people aligned, motivated and working in an effective and efficient manner to accomplish the agency’s mission, purpose and functions. This includes clarity of purpose, effective recruitment and management of personnel and collaborative team building that also empowers and supports the employees. An effective CFO is also the steward of the agency’s financial integrity and must embody the highest ethical standards and business practices to protect the agency's integrity and reputation. The candidate must be a critical thinker and a risk manager. By utilizing these skills, the CFO can anticipate potential issues from a variety of potential risk categories that are likely to affect the agency and implement measures in advance to prevent them from impacting its financial operations.
2. Financial Expertise
The preferred candidate should have a deep understanding of financial principles like accounting, financial reporting, tax planning, budgeting, and forecasting. Must be able to interpret complex financial information and communicate it clearly to stakeholders, making sure decisions are grounded in solid financial data. This core competency is what allows a CFO to effectively manage the agency’s overall financial health. The candidate must be able to identify risks and opportunities that could impact the bottom line. Such expertise is vital for keeping the agency on a solid financial footing.
3. Investment Savvy
The preferred candidate must have a keen eye for the right investments that align with the agency's strategic goals and where best to invest the agency’s funds to bring it maximum value. The CFO with good investment skills isn't just reactive, but proactive. Must be able to forecast potential shifts that could affect the agency’s investments and pivot to strategies that protect the agency from financial pitfalls while capitalizing on opportunities.
4. Business Acumen
The preferred candidate must be able to see the agency through a wide-angle lens. This includes a business perspective and understanding of the agency’s business landscape outside of the finance department and how external factors, market trends, the economy and regulatory changes impact the agency as a whole. Knowledge, Skills and Abilities Required 4
5. Innovative and Adaptable
The world in which MDHA operates is in a constant state of flux, with new technologies, regulatory changes and financial challenges emerging at a rapid pace. Our CFO must therefore embody innovation and adaptability, which means being open to new ideas, whether it's adopting new financial technologies or rethinking traditional business processes. Must not only be open to change but also must be a change agent within the agency by fostering a culture that values creativity and flexibility in achieving the agency’s mission.
6. Communication Skills
The preferred candidate must be a superb communicator who is able to effectively share the agency’s mission, activities and accomplishments with a wide variety of stakeholders inside and outside of the agency. This includes board members, employees, tenants, government officials, foundations, banks and financial institutions, the media and the public at large.
7. Negotiation Skills
The preferred candidate must be able to negotiate a wide array of complex, high stakes business transactions, real estate deals, taxation and finance matters and various government contracts with diverse parties and institutions. Must be able to navigate in such transactions with the creativity, skill, nuance and persuasive authority that leads to favorable terms that support the health of the agency both financially and strategically
Duties and Responsibilities
1. Financial Planning and Budgeting:
o Developing and managing the annual operating budget for the agency. o Forecasting revenue and expenses, including federal funding, rental income, and operating costs. o Identifying potential financial risks and developing mitigation strategies.
2. Accounting and Reporting:
o Overseeing the accounting department, ensuring accurate financial records and timely reporting. Duties and Responsibilities 5 o Preparing financial statements and reports for the board of directors and regulatory agencies. o Complying with Generally Accepted Accounting Principles (GAAP), yellow book standards, OMB circulars and relevant federal regulations.
3. Cash Flow Management: o Monitoring cash flow to ensure sufficient funds for operations and capital projects. o Managing investments and debt obligations.
4. Compliance and Audit Oversight: o Ensuring the agency adheres to all federal and state regulations regarding financial management. o Coordinating with external auditors to conduct regular financial audits.
5. Strategic Financial Planning:
o Analyzing financial data to identify areas for cost reduction and operational efficiency. o Developing long-term financial plans to support the agency's strategic goals. o Assessing the feasibility of new housing development projects.
6. Staff Management: o Leading and supervising the finance team, including accountants, budget analysts, and financial analysts. o Developing staff training programs to ensure compliance and best practices.
7. Stakeholder Communication:
o Presenting financial information to the board of directors, residents, and other stakeholders. o Collaborating with other departments within the agency to ensure alignment with financial goals.
Education, Experience, & Other Requirements
Bachelor's required or Master’s degree in Business Administration or in a related field, and 6-10 years of progressively responsible experience in complex transactions, financial management and strategic planning at a large organization. Persons who are also Education, Experience & Other Requirements 6 Certified Public Accountants are preferred. Must possess a valid State of Tennessee Driver’s License and be insurable by the agency’s fleet insurance carrier
