Chief Financial Officer

SUMMARY

This is a hands-on position which manages the financial decisions and transactions of the Detroit Housing Commission, providing professional leadership for planning, analysis, justification, control, and reporting of all DHC fiscal resources, and for strategic management and planning, and performance measurements. This position is responsible for long-range financial objectives, policies, programs and practices which will achieve a continuously sound financial structure. The CFO/Financial Manager is an executive-level management position, responsible for directing the financial decisions and transactions made within the Detroit Housing Commission. This position oversees the accounting function within the Finance Department, as well as the strategic planning, analysis, internal controls, and internal/external reporting for all DHC finances. In addition, the CFO/Financial Manager monitors and evaluates the performance of the Finance Department staff, as well as establishing and enforcing the long-term financial objectives of DHC. This position maintains the financial/accounting policies and facilitates adherence to the HUD regulations and requirements related to financial management throughout DHC. Ultimately, this position has the responsibility to ensure that DHC’s books are fairly stated.

EDUCATION

• Bachelor’s degree in accounting/finance or related field required 
• A master’s degree is highly preferred 
• Certified Public Accountant (CPA) certification required 
• Certified Government Financial Manager (CGFM) certification preferred 

EXPERIENCE REQUIREMENTS

• Minimum of 20 years’ experience in accounting and financial statement preparation using GASB standards
• Minimum of 10 years’ progressive leadership experience directing multi-functional teams and driving strategic policy implementation in a public agency or large enterprise environment.
• Certified Public Accountant (CPA) certification required 
• Certified Government Financial Manager (CGFM) certification preferred 
• Comprehensive knowledge and understanding of US Generally Accepted Accounting Principles (GAAP) and Federal/state financial regulations 

OTHER REQUIREMENTS

• Must have or be able to acquire a valid state of MI driver’s license
• Must pass federal, state, and local criminal investigation clearances, and pass a drug screening test administered by the Commission or its designated provider
• Must be insurable under the agency’s insurance policy
• Must be bondable and insurable 
• Must be willing to work traditional and non-traditional or weekend hours as required 

KNOWLEDGE 

• Knowledge of Housing & Urban Development Public Housing regulations and policies pertinent to the department
• Knowledge of HUD programs, requirements, and policies/procedures
• Knowledge of DHC and departmental policies, procedures, and goals
• Knowledge of organization’s structure, policies and procedures.
• Knowledge of standard office procedures, filing, and standard office equipment, including computer, fax, copier, telephone system
• Knowledge of the principles and practices of automated information systems, and data processing
• Knowledge of the operation of commission and HUD computer system and software
• Knowledge of basic office practices, procedures, and equipment
• Knowledge and understanding of Generally Accepted Accounting Principles and Federal/State financial regulations
• Knowledge of the principles and practices of financial management, and ability to supervise and train employees
• Knowledge of Uniform Relocation Assistance, Cost Control and Safe Harbor Requirements
• Knowledge of accounting-related software
• Knowledge of sales and use tax procedures
• Knowledge in Development of new ACC units; understanding of accounting principles, grants accounting, and applicable HUD regulations
• Knowledge of federal, state and local financial regulations related to accounting and financial record-keeping
• Knowledge of financial regulations pertaining to HUD, low-income housing, HOPE IV, RHF and related programs
• Knowledge of HUD programs, requirements and policies & procedures
• Knowledge of US Generally Accepted Accounting Principles (GAAP)
• Knowledge of fund and governmental accounting practices and principles
• Knowledge of the principles and practices of budgeting and budget administration
• Knowledge of the principles and practices of grants management
• Knowledge of the principles and practices of contract administration
• Knowledge of time and attendance requirements, payroll regulations and reporting procedures
• Knowledge of the principles and practices of employee development 
• Advanced knowledge of Windows Office 365 skills (Teams, PowerPoint, Excel, Word, SharePoint)
• Advanced conceptual and analytical knowledge of Microsoft Excel

REQUIRED ABILITIES

• Act independently
• Adaptability – advanced
• Analyze situations
• Attend to details
• Communicate verbally
• Communicate in writing
• Concentrate
• Conflict Resolution
• Effective Leadership
• Empathize
• Identify problems
• Initiate
• Manage pressure
• Motivate
• Multi-task
• Organize
• Problem solve
• Think creatively
• Timely completion of projects

REQUIRED SKILLS

• Analyze invoices, purchase orders and requisitions accurately
• Apply accounting principles and practices
• Calculate, compute, summate and/or tabulate data and information
• Communicate effectively orally or in writing with relevant stakeholders, internal and external, from a variety of backgrounds
• Communicate technical ideas clearly and effectively
• Determine whether and when to make payments and ensure correct account numbers are applied to invoices and claims
• Develop and maintain effective working relationships with stakeholders to accomplish organizational goals
• Forge strategic partnerships with relevant stakeholders
• Lead in bridging strategy, capital, risk, and organizational performance
• Maintain a culture of integrity
• Maintain accurate financial records
• Manage multiple priorities and demands within established requirements
• Manage time effectively to ensure all work is completed timely and effectively
• Master position-specific software
• Operate standard office equipment
• Plan, organize, complete or assign work and special projects in order to meet organizational goals
• Prepare accounting and financial reports
• Prepare accounting reports using a variety of software options
• Prepare clear and accurate reports for informational, auditing and operational use
• Prepare, analyze and audit accounting, fiscal, payroll and leave data Provide high level, quality customer service both internally and externally
• Read and understand department specific documentation, and policies and procedures
• Reconcile accounts, records, reports and journal
• Translate complex accounting data and regulatory metrics into clear, actionable stories that enable leadership and the board of directors to make informed governance and capital decisions.

SUPERVISORY RESPONSIBILITIES

• Direct employee supervisory responsibilities of 7-10 employees
• Long-Range Direction - Develop and maintain 3-to-10-year financial models to guide long-term sustainability, capital improvement plans, and strategic initiatives.

REPORTS TO

• Executive Director
• Indirect report to the Deputy Executive Director/COO

ESSENTIAL JOB FUNCTIONS 

[The fundamental job duties the individual must be able to perform, with or without accommodation; removal of these functions would fundamentally change the job]

• Identify and remediate material control weaknesses and process gaps
• Coach financial leaders, foster professional growth, and cultivate succession pipelines within the finance department.
• Monitor and implement necessary internal controls related to the various functions
• Establish, maintain, and enforce policies and procedures related to the various functions
• Maintain the Chart of Accounts (COA) and related hierarchy
• Supervise all accounting and financial reporting activities within the Finance Department
• Work with the GL Accountants to produce monthly financial statements, management reports and analyses, and General Ledger account reconciliations.
• Work with GL Accountants to produce required HUD reporting and reconciliations
• Coordinate and supervise the annual independent audit and HUD financial/ compliance reviews
• Supervise tax reporting requirements related to payroll (quarterly and annual)
• Approve journal entries, cash disbursements, eLOCCS vouchers, and invoices, as necessary
• Direct and control the preparation and certification of required financial statements including low rent program, resident management corporations, home ownership, Section 8 programs and other grant programs
• Supervise the analysis of accounting transactions related to DHC programs, and prepare monthly, quarterly, and semi-annual reports
• Ensure operating procedures for all reporting activities are completely documented, updated and revised as necessary. Monitor and evaluate routine and special operations activities for efficiency, effectiveness and compliance with policies and procedures
• Provide all status reports of responsibility as mandated and keeps the Executive Director and Director of Administrative Services briefed
• Oversee the annual budget and planning process
• Manage the annual internal control and financial statement audits
• Maintain DHC’s annual operating budget
• Evaluate the Finance Department staff’s performance related to the various financial functions
• Work with the Executive Director and Director of Administrative Services to implement DHC’s Annual PHA Plan
• Oversee treasury activities, including cash requirement reporting
• Manage/monitor employee benefits programs (e.g. pension plan, etc.)
• Oversee required agency-wide HUD reporting for all programs
• Manage Commission investments, reserve funds, cash needs, and maintain operation within budgetary guidelines and limits
• Assist the Executive Director in overseeing and analyzing accounting program plans to identify financial status, and direct the preparation of all reports that evaluate the financial position and effectiveness of the Commission
• Assist the Executive Director in planning, developing and administering operating policies and procedures to implement the department’s assigned functions
• Assist the Executive Director in formulating accounting policies applicable to complete accountability of assets, liabilities, capital, expense and income
• Assist the Executive Director in applying financial data and information to management problems suggesting approaches for assembling financial data for effective management
• Assist the Executive Director in conducting studies of all Commission activities for developing and maintaining standard and effective criteria for use in the financial reporting reimbursement estimates
• Responsible for annual certification mandated by HUD by doing PHMAP or PHAS for the assessment of the financial health of DHC by fairly measuring the Commission based on standards that are objective and uniform throughout all housing authorities
• Develop performance standards to be utilized for the evaluation of the performance of subordinate employees and for the assessment of the division’s performance. Conduct periodic evaluations of subordinates’ job performance. Conduct regular and special staff meetings
• Lead the preparation and presentation of comprehensive year-end financial summaries and present concise, executive-level financial packets for monthly and annual board meetings. This includes variance analyses (actual vs. budget), cash flow statements, key performance indicators (KPIs), and operational trend updates
• Model best-case, base-case, and downside financial scenarios to protect against regulatory shifts, inflation, or economic downturns
• Meet with and assist management officials in applying financial data and information to management problems. Participate in the management of operating programs by suggesting approaches to be taken and avenues to be explored in assembling financial data to effective management use
• In connection with fiscal audit findings mandated by HUD, coordinate responses and appropriate actions, which relate to accounting matters. Coordinate statistical, operating and financial reports for both internal and external use. Supervise the preparation of accounting reports and recommendations resulting from audits and in cooperation with Commission operating managers. Assure the implementation of adopted recommendations relative to accounting processes
• Monitor and evaluate routine operations and special activities for efficiency, effectiveness and compliance with policies and procedures. Analyze existing work methods and management techniques employed to determine if they provide maximum efficiency and effectiveness and revise as necessary

SUPPLEMENTAL FUNCTIONS 

[These are job duties the individual must be able to perform, with or without accommodation; removal of these functions would NOT fundamentally change the job]

• All other duties as assigned

PHYSICAL ACTIVITIES AND DEMANDS

• Sitting 
• Visual acuity
• Discerning colors 
• Walking
• Lifting
• Grasping/ finger manipulation 
• Carrying
• Pushing 
• Pulling 
• Standing
• Ascending/descending stairs 
• Reaching
• Bending 
• Kneeling 
• Crouching
• Traversing rough or uneven terrain

EQUIPMENT

• Phones
• Computer/laptop
• Copiers/printers
• Scanners
• Projectors
• Monitor

WORK ENVIRONMENT

• Outdoor environments
• Indoor environments

SOFTWARE

• Accounting software
• Contract management software
• Database software
• Financial systems
• Payroll/human resources
• Internet software
• Inventory software
• Project management software
• Purchasing systems
• Spreadsheet software
• Word processing software

DISCLAIMER

This job description should not be construed as an exhaustive list of duties and responsibilities performed by persons assigned to this classification. It is not intended to limit or in any way modify the right of any supervisor or manager to assign, direct and control the work of employees under his/her supervision. All principle duties and responsibilities of this position are essential functions of the position. Job descriptions are reviewed on a regular basis and may be revised at any time. Revisions will be communicated to employees within the classification. This job description does not constitute a contract of employment; therefore, the company may exercise its employment-at-will rights at any time.

MARIJUANA

Although marijuana has been legalized under Michigan law, it is a Schedule I controlled substance and is illegal under federal law. As a federally funded agency DHC’s employees are NOT permitted to use or possess any form of marijuana for medical or recreational purposes. Any applicant for employment who tests positive for marijuana during a pre-employment drug screening shall be ineligible for employment with DHC. Any applicant for employment who advises DHC that s/he uses any form of marijuana will be ineligible for employment with DHC. DHC is unable to grant a request for a reasonable accommodation to use marijuana under any circumstance.

EOE STATEMENT

The Detroit Housing Commission is an Equal Opportunity Employer. No personnel decisions concerning any term or condition of employment shall be unlawfully based upon an individual’s race, color, religion, sex (including sexual orientation and gender identity or expression), pregnancy (including childbirth or a medical condition related to pregnancy or childbirth), national origin, age, marital status, weight, height, disability, genetic information including family medical history, military service, or misdemeanor arrest record. Additionally, DHC shall not engage in discriminatory compensation decisions or practices.