Accounting Manager

LOW INCOME INVESTMENT FUND
ACCOUNTING MANAGER

Location: Hybrid - San Francisco, Los Angeles, New York, Atlanta, or Washington, DC
Reports to: Director of Accounting
Exempt classification: Exempt
Status: Regular, Full Time
Salary range: $130,000 to $140,000 Annually

THE COMPANY:
Low Income Investment Fund (LIIF) is a national community development financial institution (CDFI), headquartered in San Francisco with offices in New York City, Atlanta, Los Angeles and Washington, D.C., that invests in communities of opportunity, equity and well-being. As a CDFI, LIIF supports projects that have high social value but lack access to traditional financial institutions. Since 1984, LIIF has deployed more than $3.1 billion to serve more than two million people in communities across the country from its five offices. An S&P-rated organization, LIIF funds healthy communities by providing innovative capital solutions. Currently, LIIF is driving $5 billion in investments to advance racial equity (2020-2030). More on LIIF can be found at liifund.org.

POSITION SUMMARY:
The Accounting Manager is a key position that supports accurate and complete preparation of LIIF’s accounting records. This position supports the month end close, revenue recognition, account reconciliations, annual audits and reporting financial results (both internally and externally).

REPORTING RELATIONSHIPS:
The Accounting Manager will work under the guidance of the Assistant Controller and will have frequent interaction with VP Finance and Corporate Controller and Chief Financial Officer (CFO) and other Senior Managers. This position will directly supervise up to 3 full-time Staff/Senior Accountants.

ESSENTIAL FUNCTIONS:

• Assists in the analysis and preparation of LIIF consolidated financials as well as program financial statements including researching budget and actual variance.
• In coordination with Assistant Controller, lead timely 10-day month end close process. Work closely with Accountants to ensure key entries are made on time.
• During monthly close, lead process for ensuring all cash transactions are recorded by appropriate staff. Ensure month end cash reconciliations are clean.
  
• Oversee contribution revenue recognition policies and procedures. With support of Staff Accountant, ensure grant summaries are thoroughly documented and accurate. Review all contribution revenue recognition entries and ensure timely processing.
• Support and assist the end-to-end revenue recognition % of completion methodology for contracts under ASC 606. Include instructions on key steps and accountabilities. Assist in process documentation and training of internal staff. Support drafting of memos as necessary for external auditors.
• Ensure monthly and quarterly account reconciliations are prepared and reviewed timely and all accounting discrepancies are appropriately resolved. Ensure account reconciliations and all related support agree to general ledger.
• Oversee and review small company accounting: Review monthly journal entry accruals and transactions. Review reconciliations and ensure they agree to general ledger and LMS system where appropriate.
• Lead small company audit with external auditors and oversee tax preparation with support of Accountants.
• Support LIIF annual year end external audit including preparation of audit schedules including PBC requests and Financial Reporting.
• Lead preparation of monthly net assets roll forward and reconciliation along with billing tracking and revenue reconciliation for all restricted grants.
• Oversee preparation of Fixed Asset accounting journal entries and reconciliations and maintain Fixed Asset ledger. Ensure monthly reconciliations agree to general ledger.
• Review cash receipt entries prepared by Accountants. Ensure accurate use of general ledger codes, cost centers, descriptions, and customer IDs. Ensure adequate level of support is attached to each entry line item.
• Oversee preparation and review of journal entries for completeness and accuracy.
• Assist in the maintenance of the accounting system following GAAP for all companies and funds including chart of accounts, allocation codes, distribution codes and project codes. Identify and create new codes as directed by Assistant Controller or Controller.
• Participate in the implementation to automate and streamline accounting processes. Ensure reconciliations are “audit ready”.
• Prepare schedule of expenditures of federal awards (“SEFA”) and supporting schedules for annual Single Audit.
• Provide analytical support to LIIF’s senior management and other department managers regarding financial results and special reporting requests.
• Assist, support and help review LIIF annual Form 990 tax return.
• Reconcile quarterly Salesforce report of grants received to accounting ledger.
• Some travel may be required

SUPERVISORY RESPONSIBILITES:

• Develop and supervise 3 full-time Staff/Senior Accountants.
• Understand skills and knowledge of staff and delegate tasks to appropriate teammates.
• Participate in interviewing and training finance department employees.
• Evaluate performance of all direct reports in accordance with company policies. Create performance plans for staff as appropriate.
• Actively support Assistant Controller and Controller in finance department planning such as work priority and workflow adjustment, resource allocation, and personnel issues.

KEY SKILLS REQUIRED:

• Must have keen eye for details to find and correct discrepancies. This is essential to the role in ensuring LIIF’s reporting is accurate in all respects.
• Excellent organizational and time management skills to ensure necessary prioritization of ongoing projects and tasks. Meet assigned deadlines.
• Advanced knowledge and experience in Microsoft Excel. Strong experience leveraging Excel to streamline data and automate repetitive tasks.
• Must have strong interdepartmental communication skills: Able to simplify complex financial concepts and build relationships with key stakeholders.
• Must be able to train and guide staff in Excel.
• Strong Non-Profit accounting experience.

OTHER SKILLS DESIRED:

• Proficiency in not-for-profit G/L accounting software Abila MIP Fund Accounting, Word, Excel, Microsoft Outlook; familiarity with Access and/or other databases a plus.
• Experience, knowledge and skills in building and developing accounting databases and systems.
• Ability to manage multiple projects, negotiate competing priorities and consistently meet deadlines.
• Proactive, flexible, and enthusiastic.
• Ability to work cooperatively and interact professionally with all levels of employees.

Public Interaction Expectations:

Participate in telephone and written correspondence with funders, auditors, consultants, and customers as needed.

Team/Office/Regional Support:

Help cover in the absence of other finance team members.

EDUCATIONAL AND OTHER REQUIREMENTS:
Bachelor’s Degree in Business Administration with emphasis in Accounting is required. An MBA (or significant progress toward completion) or CPA is highly desirable. This position requires direct experience with financial reporting and a minimum of five years’ work experience, preferably with a background with financial or lending institutions. The position is demanding and requires self-motivation and a team approach to working with all Finance staff in managing the work of the department. Non-profit and/or lending experience a plus. Individual will be committed to LIIF’s mission.

Additional Requirement:

All Low Income Investment Fund (LIIF) employees must be fully vaccinated against COVID-19. In accordance with LIIF's policies, we provide reasonable accommodations, absent undue hardship, to qualified individuals who cannot get vaccinated against COVID-19 because of sincerely held religious or medical reasons. If you believe you need an accommodation from the vaccination mandate required by this policy, please notify our Human Resources Department.

HOW TO APPLY:

Please apply with Resume and Cover Letter via our recruitment portal:

Recruitment (adp.com)

Notice to Third Party Recruitment Agencies:

Please note that Low Income Investment Fund does not accept unsolicited resumes from recruiters or employment agencies. In the absence of an executed Recruitment Services Agreement, there will be no obligation to any referral compensation or recruiter fee.

In the event a recruiter or agency submits a resume or candidate without an agreement Low Income Investment Fund shall explicitly reserve the right to pursue and hire those

candidate(s) without any financial obligation to the recruiter or agency. Any unsolicited resumes, including those submitted to hiring managers, shall be deemed the property of Low Income Investment Fund.

We do not accept unsolicited phone calls. Only candidates being considered for a position will be contacted.

LIIF, an EOE (Equal Opportunity Employer), believes that diversity ensures excellence. All qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender, or national origin. Candidates of diverse background and with diverse experience are strongly encouraged to apply for this position.