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Chief Financial Officer (CFO)
Classification: Full-time, Exempt
Reports to: President
The CFO performs strategic level financial analysis and oversees the financial activities of the Land Bank in the functional areas of financial planning, funding and cash management, financial reporting, and accounting with the goal of maintaining an effective and sustainable organization to meet the organization’s mission. In addition, the CFO makes recommendations to the President and Board of Governors on financial issues, including financial and program data analysis, projections, cost identification and allocations, and revenue and expense analysis. The CFO also manages contract compliance, oversees reporting and compliance for capital providers or grant funders, and develops financial reporting and data systems for the Land Bank’s loan portfolio. As a senior leader within the Land Bank, the CFO will also serve on the Land Bank Leadership Team, and have significant interaction with the Land Bank’s Board of Governors and other stakeholders. The CFO will have primary responsibility for staffing the Land Bank’s Budget and Audit Committees, and will also report to other Board Committees.
The Land Bank fosters regional equity by capturing real estate opportunities to meet community goals through strategic acquisition and lending. Created in 2009, the Land Bank has grown to a staff of 12, (8 FTE), an annual operating budget of $1.5M, a $7.5M loan portfolio, averaging 12 loans a month, with an average loan amount being $110,000. The Land Bank is a non-profit organization and a subsidiary of the Family Housing Fund.
Financial Management and Leadership
1. Actively participate in Land Bank’s strategic planning and management.
2. Lead strategic level oversight, analysis and proactive problem solving of financial resources.
3. Establish and maintain fiscal policies and adequate internal control system to protect assets and integrity of operations.
4. Work cooperatively with management team to develop and implement plans to maintain strong financial position while achieving mission goals.
5. Establish and implement goals, objectives, policies and operating procedures in all areas of responsibility.
Business Planning, Budgeting, Reporting and Analysis
6. Plan, staff, and organize the financial and accounting functions to meet organizational needs.
7. Ensure that financial and administrative practices meet generally accepted accounting standards; serve as liaison with independent auditor.
8. Develop and implement cash investment and reserve strategy consistent with adopted policies in consultation with the Finance Committee.
9. Lead annual budgeting and monthly forecast processes.
10. Manage cash flow by considering current cash, liquidity, projected loan volume, and potential capitalization needs.
11. Prepare, analyze, and present regular, accurate and timely financial reporting to President, Finance Committee, and Board of Governors.
12. Develop budgets and prepare, analyze, and present key management reports to inform senior leadership and ensure compliance with all reporting requirements of capital providers and grant funders.
13. Develop and implement meaningful community impact measurement process.
14. Maintain property management system, assisting other senior leaders and program managers in their work with analyses, reports, and recommendations.
Loan Portfolio Management, Reporting and Analysis
15. Modify and maintain policies and processes to assure accurate and timely loan accounting and forecasting.
16. Modify and maintain data systems to meet the Land Bank’s operating and reporting needs.
17. Prepare, analyze, and present regular, accurate and timely monthly loan portfolio reporting to President, Finance Committee, Loan Committee and Board of Governors.
Accounting and Compliance
18. Oversee all aspects of general accounting functions for the Land Bank, including supervision of the staff Accountant.
19. Design and maintain accounting system and cost allocation systems to match organization needs.
20. Coordinate preparation and completion of annual audit, IRS Form 990, and other required filings.
21. Maintain payroll services appropriate to organizational needs.
22. Maintain appropriate business insurance, including properties and other assets.
23. Manage contract compliance and reporting.
24. Manage compliance and report requirements of the Land Bank’s capital sources and grant funders.
The Land Bank seeks a seasoned leader with over 5 years of experience as a CFO or equivalent in the financial management of a lending institution, preferably real estate lending. That experience can come from work in the private, nonprofit or public sectors or a combination of these. A CPA certification or MBA is preferred. A successful candidate will have a strong base in understanding, organizing, and using financial information, and will be well-versed in databases and information technology.
Process and Time Frame
Interested individuals should submit a letter of application outlining their qualifications and relevant professional experiences along with a resume electronically to email@example.com or by mail to:
Twin Cities Community Land Bank
615 First Avenue NE, Suite 410
Minneapolis, MN 55413
Attention: Office Manager
Applications received through January 14, 2013 will be considered.
The Land Bank intends to begin contacting potential candidates in late-January and would like to have the CFO in place in early March.
The Land Bank will offer a competitive salary and benefits package, to be negotiated with the President.
The Land Bank is an Equal Opportunity Employer.