What are the responsibilities and job description for the Vice President of Finance and Accounting position at Columbia Residential Properties, LLC?
Position Title: Vice President of Finance and Accounting
Pay Category: Full-Time Salaried Exempt
Reports to: Chief Operating Officer
Position Summary:
The Vice President of Finance and Accounting (VP) is responsible for all company accounting and financial reporting for a portfolio of corporate, multifamily and development entities, with oversight of the Controller as well as the cash management team. The VP will provide strategic financial leadership and partner with the other company Vice Presidents in effectively carrying out the business of the Company, where applicable. This role includes both performing and supervising account analysis and reconciliations, developing internal reporting useful for the accounting department and other operating departments, maintaining, and designing an advanced system of internal controls and issuing accurate financial statements on a timely basis, meeting all external reporting requirements and deadlines. This role will assist in the supervision of corporate accounting, development accounting, property accounting, accounts receivable, accounts payable, fixed assets, tax, and revenue recognition. Additionally, the role will work closely with the Chief Operating Officer (COO) to create and administer company-wide best practices in accounting, finance, and software-based information technology. The VP reports directly to the COO and will assist in all accounting matters, including ad hoc projects and requests.
Position Duties and Responsibilities:
- Formulate and recommend policies, objectives, budgets, plans, procedures, and schedules for the Finance and Accounting department.
- Lead finance and accounting system improvements, automation, or enterprise resource planning (ERP) initiatives.
- Develop and implement financial policies, procedures, and controls to safeguard the company's assets and ensure accurate financial reporting. Maintain internal control frameworks.
- Review and finalize financial statements, including balance sheets, income statements, and cash flow statements, to provide timely and accurate information to executive team and external stakeholders.
- Monitor financial performance, identify areas of concern or improvement, and recommend corrective actions to ensure the financial stability and growth of the organization.
- Prepare regular financial forecasts and projections, monitoring actual performance against budgeted expectations and identifying variances for further analysis.
- Provide guidance and support to department heads in monitoring and controlling their budgets, offering insights and recommendations for cost optimization and revenue enhancement.
- Manage cash flow, including monitoring and forecasting cash needs, overseeing cost allocations and reimbursements among properties and corporate entities, and optimizing investment strategies.
- Maintain relationships with financial institutions and manage banking activities.
- Ensure compliance with all applicable financial regulations, laws, and reporting requirements
- Coordinate and manage external financial audits, tax filings, and other financial reviews as necessary.
Education and Experience:
- Bachelor’s degree in finance, accounting, or a related field.
- Master's degree or CPA designation is preferred.
- Proven experience in a similar leadership role in the real estate industry, preferably a mid-to-large size affordable housing organization.
Job Knowledge and Skills:
- Experience with accounting principles, practices, and procedures related to properties funded with Section 8 Housing Choice Vouchers, low-income housing tax credit (LIHTC) equity, and other affordable housing financing programs.
- Real estate specific financial modeling, analytic, and quantitative skills, including strong computer skills and proficiency with Excel.
- Knowledge of computer applications and current software is essential.
- Experience directing the design, development, and implementation of financial, risk, and information management policies, programs, and procedures; responsible for coordinating, administering, and controlling financial operations.
- Analytical ability is required to plan, organize, and control financial functions.
- Strong judgment and reasoning abilities required.
- Must be extremely well organized to meet specific internal and external deadlines. Must be results-oriented.
- Requires extreme attention to detail and a thorough understanding of all current legal issues.
- Fosters a culture of accountability, innovation, and continuous improvement within the Finance and Accounting team.
- Must demonstrate excellent verbal and written communication skills.
Physical Requirements:
- May require prolonged periods of sitting at a desk and working on a computer.
- Must be able to lift up to 15 pounds at a time.
This job description should not be considered all-inclusive. It is merely a guide of expected job duties and responsibilities. The duties and responsibilities described are not permanent and may be modified an any time. At the request of management, an employee may be asked to perform additional duties within the scope of our work with little to no advance notice.