Job
Chief Financial Officer
| Location | Ventura, CA 93003 |
| Date Posted | November 14, 2024 |
| Job ID | 12049 |
| Employment Type | Retained |
Scion Executive Search has been retained to conduct the search for the incoming Chief Financial Officer (CFO) of Cabrillo Economic Development Corporation (CEDC), a nonprofit organization based in Ventura County, California, dedicated to creating and preserving affordable housing and fostering economic development within the community. Established in 1981, CEDC aims to empower low-income families by providing access to safe, decent, and affordable homes. The organization focuses on developing multifamily housing, offering supportive services, and engaging in community initiatives that promote self-sufficiency and economic mobility.
This full-time executive leadership position, reporting directly to the Chief Executive Officer, is available for immediate hire in beautiful Ventura, California! Initially, the role will require a significant in-office presence, with a full-time requirement for the first 90 days. After this initial period, the position has the potential to transition into a hybrid role, necessitating in-office attendance on Tuesdays and Thursdays for the long term.
ABOUT CABRILLO ECONOMIC DEVELOPMENT CORPORATION:
Cabrillo Economic Development Corporation (CEDC) develops and manages inclusive residential communities that provide access to affordable, secure, and quality housing, forming a strong foundation for residents to thrive. The organization emphasizes environmentally sustainable practices and offers educational and training programs to equip residents with essential skills for employment and personal growth. By collaborating with local governments, businesses, and community organizations, CEDC addresses the housing crisis and enhances community well-being. With a focus on excellent property management, CEDC ensures coordination among its Property Management, Real Estate Development, and Resident and Community Services Divisions, fostering a superior living environment for residents.
POSITION OVERVIEW:
The Chief Financial Officer (CFO) serves as the principal fiscal and administrative officer for Cabrillo Economic Development Corporation (CEDC) and its affiliates, responsible for developing financial and operational strategies that align with the organization’s mission. Reporting directly to the CEO, the CFO plays a crucial role on the Executive Team, collaborating with the CEO and Board of Directors to implement policies and strategies that enhance the organization's financial stability. This role encompasses oversight of financial management, accounting, billing/registration, risk management, asset management, and information technology.
The CFO will direct CEDC's financial affairs and provide management with financial analyses, including interim and final statements with supporting schedules. The CFO is tasked with creating and implementing systems to ensure timely audits and reports while assessing departmental systems for necessary improvements.
Additionally, the CFO will lead and manage the accounting, finance, investment, and IT functions, overseeing all financial operations, reporting systems, annual audits, tax returns, and internal financial statements. The ideal candidate will have extensive experience in managing finance—covering accounting, budgeting, control, and reporting—within a complex nonprofit environment with diverse funding sources, including federal, state, and county contracts. The CFO should exemplify a unique blend of strategic insight and operational expertise.
RESPONSIBILITY OVERVIEW:
MAIN FUNCTIONS:
This full-time executive leadership position, reporting directly to the Chief Executive Officer, is available for immediate hire in beautiful Ventura, California! Initially, the role will require a significant in-office presence, with a full-time requirement for the first 90 days. After this initial period, the position has the potential to transition into a hybrid role, necessitating in-office attendance on Tuesdays and Thursdays for the long term.
ABOUT CABRILLO ECONOMIC DEVELOPMENT CORPORATION:
Cabrillo Economic Development Corporation (CEDC) develops and manages inclusive residential communities that provide access to affordable, secure, and quality housing, forming a strong foundation for residents to thrive. The organization emphasizes environmentally sustainable practices and offers educational and training programs to equip residents with essential skills for employment and personal growth. By collaborating with local governments, businesses, and community organizations, CEDC addresses the housing crisis and enhances community well-being. With a focus on excellent property management, CEDC ensures coordination among its Property Management, Real Estate Development, and Resident and Community Services Divisions, fostering a superior living environment for residents.
POSITION OVERVIEW:
The Chief Financial Officer (CFO) serves as the principal fiscal and administrative officer for Cabrillo Economic Development Corporation (CEDC) and its affiliates, responsible for developing financial and operational strategies that align with the organization’s mission. Reporting directly to the CEO, the CFO plays a crucial role on the Executive Team, collaborating with the CEO and Board of Directors to implement policies and strategies that enhance the organization's financial stability. This role encompasses oversight of financial management, accounting, billing/registration, risk management, asset management, and information technology.
The CFO will direct CEDC's financial affairs and provide management with financial analyses, including interim and final statements with supporting schedules. The CFO is tasked with creating and implementing systems to ensure timely audits and reports while assessing departmental systems for necessary improvements.
Additionally, the CFO will lead and manage the accounting, finance, investment, and IT functions, overseeing all financial operations, reporting systems, annual audits, tax returns, and internal financial statements. The ideal candidate will have extensive experience in managing finance—covering accounting, budgeting, control, and reporting—within a complex nonprofit environment with diverse funding sources, including federal, state, and county contracts. The CFO should exemplify a unique blend of strategic insight and operational expertise.
RESPONSIBILITY OVERVIEW:
MAIN FUNCTIONS:
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Oversee financial plans and policies, manage accounting practices, maintain relationships with lending institutions and the financial community, ensure the integrity of fiscal records, and prepare comprehensive financial reports.
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Direct general accounting, property accounting, internal auditing, cost accounting, and budgetary controls.
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Develop, analyze, and interpret statistical and accounting data to assess operating results, focusing on profitability, performance against budget, and other factors that impact the organization’s fiscal health and operational effectiveness.
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Assess the performance of the Accounting Department staff, identify training needs, ensure personnel possess the necessary skills to meet CEDC’s objectives and make recommendations for hiring or removing staff as needed.
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Accurately maintain and reconcile the automated accounting system, ensuring current and long-term financial records for CEDC and its affiliates.
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Supervise and assess all preparatory tasks for annual audits, tax returns, and other reporting obligations. Serve as the primary liaison with the auditing firm to ensure the timely completion of the annual audits.
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Collaborate with the Chief Executive Officer and Senior Management Team to establish key economic objectives and policies for CEDC and its affiliates.
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Design and implement financial systems that provide monthly reports to the Board of Directors, detailing CEDC’s financial position regarding income, expenses, and earnings, reflecting historical, current, and projected operations.
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Facilitate seamless communication and collaboration among divisions through the accounting department, ensuring efficient support and information exchange.
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Develop and oversee the annual operating budget, ensuring alignment with organizational goals.
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Prepare comprehensive financial reports, including budget-to-actual comparisons by division, financial statements, cash flow analyses, compliance documentation, construction updates, project development summaries, loan portfolio assessments, financial forecasts, and detailed variance analyses.
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Manage tax planning and ensure compliance with all federal, state, and local tax obligations, including corporate, payroll, and Unrelated Business Income (UBI) taxes.
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Create and enhance internal reports for improved utility and efficiency, while also generating external reports as required.
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Assess and recommend appropriate insurance coverage to safeguard against property losses and potential liabilities.
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Hold ultimate responsibility for implementing effective financial controls within the organization.
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Negotiate and manage various audits, including financial, workers' compensation, bank, IRS, and the company’s 403(b) account.
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Partner with the Real Estate Development team to implement risk management strategies for new projects, review development budgets, and exit strategies, and advise the CEO and Board of Directors Finance and Real Estate Development Committees on the financial implications of project financing assumptions.
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Ensure compliance with all policy and legal requirements, including environmental initiatives, while developing and implementing reporting, measurement, and contract compliance systems.
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Oversee all aspects of risk management, including property insurance needs, claims management, and collaboration with HR on safety programs.
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Supervise the Grants Management team’s development of funding applications and proposals to secure financing for corporate and program expenses, including preparing the annual NeighborWorks America Organizational Underwriting (OU) application.
ASSET MANAGEMENT FUNCTIONS:
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Manage sublease contracts and address building requirements for the corporate office.
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Collaborate with the Property Management division to ensure compliance with funder, regulator, and investor reporting requirements, including those set by the California Tax Credit Allocation Committee (CTCAC) and the U.S. Department of Agriculture Rural Development.
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Partner with the Property Management Director to develop annual operating and capital improvement budgets, while also reviewing, analyzing, and interpreting budgetary and financial reports.
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Conduct monthly reviews of property financial statements, including balance sheets, income statements, and variance reports, to support portfolio performance assessments for senior management, lenders, and investors.
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Research partnership agreements, loan documents, and regulatory agreements as needed.
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Ensure timely submission of periodic reports while maintaining compliance with all regulatory, lender, and investor requirements.
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Collaborate with Property Management and Real Estate Development on strategies for portfolio recapitalization and enhancements to property management systems to optimize overall portfolio performance.
QUALIFICATIONS:
- 10+ years of progressively responsible management experience in accounting, including at least 5 years in a supervisory role.
- Accomplished leader with a proven track record in managing organizations with complex budgets exceeding $3 million in revenue.
- Bachelor’s degree in Accounting, Finance, or Business Administration from an accredited institution.
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Active CPA license or Master’s degree is required.
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A humble and hands-on nonprofit leader who’s willing to roll up their sleeves to get the job done while thriving in a broadly defined and autonomous environment.
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Proven experience in senior financial management, collaborating closely with executive leadership.
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Strong leadership capabilities with a track record of driving team performance.
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Expertise in developing and streamlining business processes for operational efficiency.
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Skilled in both hands-on accounting and strategic, big-picture financial planning.
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Advanced proficiency in computer and financial software systems.
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Exceptional organizational abilities.
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Excellent verbal and written communication skills.
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Adaptable and pragmatic problem solver.
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Governmental or nonprofit sector experience is highly desirable.
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Experience in a multi-company, multi-division environment within medium to large organizations is highly beneficial.
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Experience in real estate development and construction accounting is a plus.
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Proficiency with Tax Credit and grant reporting is beneficial, but not required.
COMPENSATION AND BENEFITS:
This dynamic full-time opportunity allows for a positive impact on the community by ensuring access to affordable, secure, and high-quality housing, laying a solid foundation for residents to thrive. In addition to a base salary of $150,000 to $170,000 based on years of experience and education, this exceptional role also receives access to a comprehensive benefits package that includes medical, dental, and vision insurance, as well as life insurance, long-term disability, paid time off, paid holidays, FSA, EAP, 403b and more!
APPLICATIONS AND NOMINATIONS:
Cabrillo Economic Development Corporation has retained the services of Scion Executive Search, a national executive search firm specializing in mission-driven organization recruitment, to assist in conducting this important search. For immediate consideration please apply with your resume and cover letter, formatted in Microsoft Word, via: https://scionexecutivesearch.com/job/12049.
Please address applications to:
Elizabeth Crimmins, Executive Search Principal
Scion Executive Search
(888) 487-8850 ext. 113
Review of applications, nominations, and expressions of interest will begin immediately and continue on a confidential basis until an appointment is made.
Cabrillo Economic Development Corporation is an Equal Opportunity Employer and encourages diversity and equity in all facets of the organization’s work. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, disability status, protected veteran status, or any other protected class.
ABOUT OUR FIRM:
Scion Executive Search is an award-winning retained executive search firm. Our track record and recruitment process have made us one of the top recruitment firms in the United States. Through innovative team building and recruitment solutions, Scion Executive Search seamlessly bridges the gap in interim and executive searches.
We are proud to be part of the Forbes lists of the Best Recruitment Firms and the Best Executive Search Firms in America. Additionally, Scion has been recognized as a ClearlyRated Best of Staffing firm as well as a top recruitment firm by The Business Times. Additional information about our firm and our practices can be found online.
Scion Executive Search is an equal opportunity employer and service provider and does not discriminate based on race, religion, gender, gender identity, national origin, citizenship status, sexual orientation, disability, political affiliation, or any other protected class. We are committed to the principles of Equal Opportunity Employment and are dedicated to making employment decisions based on merit and value, for ourselves, our client companies, and the candidates we represent.
For opportunities located in a region that has enacted fair chance, arrest, or conviction-based employment ordinances, Scion Executive Search proactively follows the enacted guidance and considers for employment all qualified applications with arrest and conviction records. We engage in socially conscious business practices and believe that diverse, equitable, inclusive, and non-biased talent and recruitment processes are foundational to the success of Scion as well as every client organization with whom we partner.
