Chief Financial Officer

WHO WE ARE
Mission and Vision:

Community Development Corporation of Utah (CDCU) strengthens our communities by empowering all Utahns through access to affordable housing and financial security. CDCU assists in alleviating the burdens of poverty and financial insecurity so that all Utahns can develop their full potential.

History: 

Community Development Corporation of Utah (CDCU) is a 501(c)(3) non profit organization founded in 1990. Our organization has since grown to be a major affordable housing provider throughout the state of Utah. In the past five years, CDCU has expanded the spectrum of housing to include the acquisition and development of multi-family housing.  As the market continues to elevate the cost of owning a home, CDCU has transitioned from a single focus on home ownership to a more diverse portfolio of affordable housing solutions.  CDCU is developing three new apartment projects in Salt Lake County and currently owns a 23-unit apartment complex in Salt Lake City.  All CDCU apartments are restricted to an affordable income range to include formerly homeless individuals, workforce housing, and low-income families. 

The Position

This is an exciting opportunity for a skilled, collaborative, and entrepreneurial professional to serve as a leader at CDCU providing critical financial and operations support to the CEO, Board, senior team and staff. This is a hands-on and participative role, leading a small team to deliver financial and operating systems and services to ensure staff can successfully deliver programs and services in alignment with mission and strategic plan. The Chief Financial Officer will serve as CDCU’s leader for planning and analysis within the finance function and working collaboratively with the Executive Team as a liaison to budget owners and other colleagues across the organization. The Chief Financial Officer is accountable for creating the conditions that enable CDCU to advance its mission and values by optimizing the impact of financial resources. This role requires attention to detail, organization, project management, excellent communication skills, and relentless problem-solving. Strong candidates are process-oriented and excel at plan development and execution. Creativity, resourcefulness, and follow-through are also highly valued.

They will be an innovative, cause-driven Chief Financial Officer who will be an impactful driver towards increasing the overall financial health of the organization by providing strategic leadership for finance, business operations, and strategic initiatives. The CFO will be an important thought partner to the CEO, manages three team members, and a budget of approximately $3 million annually.

ROLES & RESPONSIBILITIES

Leadership and Strategy:

• Act as a strategic thought partner to the CEO and to members of the senior leadership team.
• Serve on the senior leadership team; support and build systems and processes that will enable program, development, and operations teams to work together collaboratively and effectively.
• Establish and model the mindsets and behaviors indicative of a collaborative, inclusive, and high-performing organization that builds a culture of belonging amongst staff and board.
• Support senior management, Board, policy, lending and real estate development teams through financial statement reporting, variance analyses, cash management and cash flow reporting, and grant accounting and reporting.
• Ensure all relevant staff understand financial stewardship, compliance, and reporting requirements and their role in ensuring these processes are used. Lead staff development training towards this end and individual problem-solving, as necessary.
• Provide leadership that supports the professional growth of your direct reports including a Finance Manager, Accountant for the Utah Homeowner Assistance Fund, and the grant writer.
• Partner with staff and board to set and achieve finance goals.
• Provide Finance leadership to the Board of Directors, including preparing for and attending board meetings, facilitating trainings, and preparing and giving reports.
• Serve as the liaison to the Finance Committee.

Finance, Planning, and Stewardship:

• Provide leadership, analysis, and management of all finances and operations.
• Build and maintain CDCU’s short- and long-term strategic financial and capital models that accelerate CDCU’s vision and strategic priorities. 
• Build reporting tools that allow for information sharing and financial transparency to facilitate planning and real-time decision making.
• Prepare and monitor the budget working with senior management team to create systems for proactive management and reporting.
• Prepare and/or review general ledger account reconciliations.
• Provide oversight on cash projects and track restricted donations from donors
• Ensure the integrity, accuracy, timeliness, and usefulness of all financial reports.
• Manage relationships with banking institutions including lines of credit, debt, and CRA funding.
• Maintain constructive partnership with audit firms through early preparation for, strategic management of and consistent communication about the annual audits for both CDCU and the CDFI.
• Manage private and government grant activity including: Budget creation and monitoring over life of the grant; Staff time allocation; Time and expense reporting; Monthly grant reporting to the appropriate teams; Maintaining government grant files and contracts.
• Renew business licenses, charitable solicitation permits and SAMS registrations for CDCU and the related CDFI.

Technology and Human Resources:

• Partner with the CEO regarding CDCU’s human resources and administration, compensation and benefits, performance evaluation, training, and recruiting.
• Ensure ongoing updates to personnel policies, insurance, and other employee benefits and communication of same to staff.
• Identify and assess opportunities for organization-wide technology enhancement, utilization, and expansion.

Additional Skillset and Attributes:

• BS in accounting or finance, or equivalent work experience; CPA is helpful.
• Five years+ of leadership experience managing finance teams and partnering with the CEO to achieve impact; knowledge of other infrastructure areas ie Operations, Human Resources, etc. is important.
• Experience in nonprofit finance and accounting preferred.
• Demonstrated understanding of unrestricted and temporarily restricted activities; excellent understanding of grants management and reporting; strong grasp of cash flow reporting and cash management
• Technology savvy, including knowledge of database and management systems; keenly aware of security risks and protocols to manage exposure.
• Demonstrated success building relationships and partnering with program and development teams, helping them manage toward goals in an agile and flexible way.
• Resourceful, with the ability to deliver results and adapt to changing needs of management and other stakeholders.
• Understanding of affordable housing development, including experience with real estate/property accounting and lending is helpful.
• Experience with recording and structuring affordable housing finance and/or real estate transactions, and Community Development Financial Institution (CDFI) accounting.
• Knowledge of nonprofit governance and experience working with, or on, boards.
• Personal qualities of integrity, credibility, intellectual curiosity, and mature judgment.

Compensation and Benefits:

The salary range for this full-time, exempt position is $110,000-$125,000. CDCU provides a wide range of benefits to its employees including a hybrid work environment, self-managed paid time off (just over 6 hours of PTO accruing per pay period), 14-days of holiday/personal time off, paid Family Medical Leave, flextime, SEP-IRA contribution, and a contribution to a health insurance plan of choice with an HSA contribution component. CDCU strongly encourages a work-life balance.

To Apply:

Pathway Associates has been retained to lead this recruitment effort on behalf of CDCU. Inquiries, nominations, or applications (including a cover letter and resume) should be directed electronically and in confidence to susan@pathwayassoc.com with “CDCU- CFO” in the subject line. We are pleased to answer any questions or supply further information as needed. All inquiries or referrals will be held in strict confidence.  

Diversity and Inclusion: 

CDCU opposes discrimination and injustice in all forms. Research shows that members of underrepresented groups – including women, LGBTQIA+ identified people, Black, Indigenous, and other people of color (BIPOC) – tend to apply for jobs only if they meet every single requirement listed. Here at CDCU, we want the best candidate for the job, and that candidate might not always meet 100% of the qualifications listed. If you are passionate about our work and joining our team, we encourage you to apply – especially if you are a member of a structurally marginalized group. We look forward to your application.