CHIEF FINANCIAL OFFICER
Virginia Beach Community Development Corporation (VBCDC) is seeking an experienced and forward-thinking Chief Financial Officer (CFO) to join its Executive Leadership Team.
Salary: $115,000–$120,000 annually
About VBCDC
Virginia Beach Community Development Corporation is an award-winning 501(c)(3) nonprofit organization established by the Virginia Beach City Council in 1985 to expand affordable housing opportunities and support neighborhood revitalization. VBCDC owns and manages more than 500 affordable rental homes and provides housing and supportive services to families, individuals, seniors, veterans, people with disabilities, and individuals transitioning out of homelessness.
Mission: Assist the City of Virginia Beach in providing quality affordable housing opportunities for low- and moderate-income households.
Vision: Champion supportive communities where people are empowered to live their best lives and thrive
The Opportunity
VBCDC is seeking a Chief Financial Officer who brings both strategic vision and operational financial depth—an executive leader capable of advising the Chief Executive Officer, Board of Directors, and Executive Leadership Team on long-term financial strategy while maintaining a strong command of the accounting, grant, systems, and property-level financial operations that inform sound decision-making.
As VBCDC’s senior financial executive, the CFO provides enterprise-wide leadership for financial strategy, long-range planning, budgeting, forecasting, cash-flow management, capital strategy, treasury, risk management, and overall financial performance. The CFO also leads the financial strategy for VBCDC’s affordable housing and real estate portfolio, including multi-entity structures, property-level performance, LIHTC, HUD programs, public and private financing, and development activities.
The CFO is responsible for strengthening VBCDC’s financial infrastructure, systems, and controls; ensuring the integrity of financial reporting, compliance, and financial stewardship; and positioning the organization to effectively manage complexity, pursue strategic opportunities, and achieve long-term financial sustainability and growth.
Executive Leadership Priorities:
The Chief Financial Officer will:
- Serve as the principal financial advisor to the President and CEO, Board of Directors, and Executive Leadership Team.
- Develop and execute VBCDC’s enterprise financial strategy, including long-range planning, budgeting, forecasting, cash-flow management, and financial performance.
- Develop sophisticated financial models and scenario analyses that support organizational planning, investment decisions, property operations, development opportunities, and growth.
- Provide strategic financial leadership across VBCDC’s affordable housing portfolio, including LIHTC, HUD programs, multi-entity structures, property-level performance, and real estate development.
- Maintain executive oversight of accounting operations, including multi-entity reporting, consolidations, intercompany activity, financial close, internal controls, audit readiness, and financial reporting.
- Oversee federal grant financial management and compliance, including SSVF, HUD, and other awards, with responsibility for grant budgeting, expenditure tracking, cost allocation, restricted funds, draws, reconciliations, reporting, and Uniform Guidance compliance.
- Develop and oversee capital, financing, treasury, liquidity, reserve, and investment strategies that strengthen VBCDC’s long-term financial position.
- Evaluate financing opportunities and lead significant capital transactions, including debt, refinancing, lines of credit, and real estate financing.
- Provide strategic leadership for financial and property-management systems, including RealPage, Yardi, or comparable platforms, with an emphasis on accurate property-level accounting and reporting.
- Strengthen VBCDC’s financial infrastructure by developing scalable systems, processes, controls, technology, reporting capabilities, and decision-making frameworks.
- Present financial performance, forecasts, capital plans, risks, and strategic recommendations to the Board and Finance/Audit Committee.
- Represent VBCDC with lenders, investors, syndicators, auditors, governmental agencies, funders, and other key financial partners.
Executive Profile
The ideal candidate will be an accomplished financial executive who combines strategic vision with strong operational and technical financial leadership. This individual must be able to move seamlessly between enterprise strategy and the underlying financial operations necessary to execute it effectively.
Candidates should demonstrate:
- Significant senior-level financial leadership experience, preferably within a nonprofit, affordable housing, real estate, community development, or similarly complex organization.
- Strong nonprofit accounting, budgeting, audit, compliance, internal control, and financial reporting knowledge.
- Hands-on knowledge of multi-entity accounting, consolidations, intercompany activity, month-end close, audit readiness, and property-level accounting.
- Demonstrated expertise in affordable housing and real estate finance, including LIHTC, HUD programs, and public and private financing structures.
- Experience providing financial oversight across multi-entity organizations and property-level operations.
- Experience managing federal award finances, including SSVF, HUD, or comparable programs, and knowledge of grant budgeting, cost allocation, draws, restricted funds, reporting, and Uniform Guidance.
- Advanced capabilities in financial planning, forecasting, cash-flow analysis, scenario modeling, and long-range financial projections.
- Demonstrated experience developing capital strategies, evaluating financing structures, and managing relationships with lenders, investors, and other financial partners.
- Experience with RealPage, Yardi, or comparable property-management/accounting systems.
- Demonstrated success designing or significantly improving financial systems, processes, reporting structures, and organizational financial infrastructure.
- Strong strategic judgment and the ability to translate complex financial information into clear, actionable recommendations.
- Executive-level communication and presentation skills, including experience advising CEOs, senior leadership teams, and Boards of Directors.
- Demonstrated ability to lead, develop, and strengthen a high-performing Finance function.
The successful candidate should be equally comfortable evaluating a complex financing structure, reviewing property-level financial performance, assessing the integrity of accounting and grant processes, advising the President and CEO on a significant organizational decision, and presenting long-range financial strategy to the Board of Directors.
Education & Preferred Qualifications
- Bachelor’s degree in Finance, Accounting, Economics, Business Administration, or a related field required.
- Master’s degree in Finance, Business Administration, Accounting, Public Administration, or a related discipline strongly preferred.
- CPA/CMA is required
- Minimum of eight (8) years of progressively responsible financial leadership experience, with significant experience in a senior financial management or executive role.
Compensation & Benefits
Salary Range: $115,00-$120,000
VBCDC offers a comprehensive benefits package and an opportunity to contribute to a mission-driven organization working to expand quality affordable housing and strengthen communities. Benefits include:
- Health insurance
- Dental insurance
- Employer-paid life insurance
- Employer-paid long-term disability insurance
- 403(b) retirement plan with company match
- Vacation time
- Paid time off
- Sick leave
- 13 paid holidays
- Flexible Spending Account
- Employee Assistance Program
Physical Demands/Work Environment
- Ability to sit or stand for extended periods of time.
- Ability to operate standard office equipment including computers, copiers, and phones.
- Ability to lift up to 25 pounds occasionally.
- This position operates primarily in a professional office environment and may require periodic travel and attendance at Board, lender, investor, community, and organizational meetings.
- Reasonable accommodations will be provided in accordance with applicable law.
Special Requirements
- Must be bondable;
- Must pass a criminal background check;
- Must have access to reliable transportation and possess a valid Virginia driver’s license.
- May require occasional evening or weekend hours for events, emergency operations, or critical deadlines.
Equal Employment Opportunity
VBCDC is an equal opportunity employer. We are committed to creating an inclusive workplace and welcome applicants from diverse backgrounds, experiences, and perspectives.
