Alexandria Redevelopment and Housing Authority is seeking an experienced leader with strong financial acumen and administration to serve as its Senior Director of Finance & Budget.
ABOUT THE SENIOR DIRECTOR OF FINANCE & BUDGET POSITION
The Senior Director of Finance & Budget (Director) reports to the Chief Executive Officer (CEO) and is responsible for overseeing and managing the financial operations of the Alexandria Redevelopment and Housing Authority. This includes Authority-wide budgeting; resource management and financial management functions; management of the Authority’s procurement operations; financial planning, forecasting, and reporting; and risk management. The Senior Director will provide strategic financial leadership, support decision-making, and ensure the financial sustainability of the Authority. Additionally, the Senior Director will oversee information technology and other key operational functions.
This position requires a strong leader with subject matter expertise in public sector finance; housing authority operations; and compliance with federal, state, and local financial regulations. The salary range for this position is $175,000-$225,000 annually. The final offer will be commensurate with experience.
In alignment with the duties of the position, the Senior Director of Finance & Budget will have the following essential duties and responsibilities. Other duties may be required and assigned.
Finance and Budget Administration
- Effectively directs the overall financial plans and accounting practices of the Authority, ensuring propriety and prudence of all operations.
- Advises the ARHA CEO and members of Executive Leadership Team on portfolio repositioning efforts, the purchase and sale of real estate assets, and other related activities to support agency’s mission.
- Oversees the effective financial management of all programs, including grants for which the Authority receives funds.
- Designs, implements, and maintains project-based accounting system for conventional housing programs.
- Implements cash management and investment strategy with ARHA banking partner.
- Develops and maintains an efficient internal auditing system to ensure integrity in the use of funds, equipment, materials, and personnel to safeguard the Authority’s funds and property.
- Directs budget and cost controls, financial analysis, accounting practices, payroll functions, insurance coverage and evaluation, purchasing and inventory expenditures, and Capital Funds Program (CFP) purchase requisitions.
- Oversees monthly operating subsidy draw-downs, monthly check runs, funds transfers, etc., and maintains general ledgers required for each program in compliance with federal, state, and local requirements.
- Serves as Line of Credit Control System (LOCCS) Officer. Prepares and/or oversees monthly operating subsidy draw-down from LOCCS and records subsidy in general ledger by project.
- Directs the preparation of budget documents and budget submissions to HUD and other local agencies as required and is responsible for the control of and adherence to items contained within the budget after approval of the budget by the Board of Commissioners (BOC).
- Coordinates annual audits and other third-party monitoring reviews and audits in a timely and well-organized manner.
- Establishes, maintains, and oversees cash controls to avoid overdrafts and initiates and/or oversees internal transfers to cover expenses.
- Supervises the 1099 process and ensures accurate and timely submission to the IRS.
Financial Analysis and Reporting
- Analyzes and reconciles inter-fund accounts by project and maintains a prepaid insurance schedule, allocating monthly insurance expenses by project.
- Analyzes and interprets financial data and recommends changes to improve systems and financial performance.
- Prepares and/or directs the preparation of monthly financial statements, balance sheets, and various regular reports regarding the financial condition of the Authority and status of all programs and budgets to ensure the timely flow of information to the CEO, BOC, HUD, and Tax Credit Partners as appropriate.
- Forecasts revenue for the Authority, develops fiscal impact statements, and provides advice on economic development activities.
- Reviews and analyzes financial statements and requests; revises and/or approves reports prepared by staff; and creates and develops departmental policies, plans, priorities, goals, and objectives.
Purchasing and Risk Management
- Ensures accounting and financial systems are maintained in accordance with Generally Accepted Accounting Principles (GAAP).
- Establishes and maintains appropriate internal controls to ensure compliance with applicable federal, state, and local laws and regulations, as well as Authority rules and procedures.
- Designs and evaluates the financial components of proposed development projects, including development of pro formas, to ensure projects meet the criteria for issuance of Authority taxable/tax-exempt bond financing.
- Works with financial advisors on structuring leverage financing for new housing developments.
- Researches and contracts for the full range of the Authority’s insurance needs.
- Ensures the prudent investment of any and all Authority funds and maintains accurate records of all transactions and ongoing effects of investments.
- Consistently adheres to strong Authority standards regarding the ethical, responsible, and appropriate use, care, and safeguarding of Authority materials, supplies, resources, and other assets.
Operational Efficiency and Stakeholder Engagement
- Provides management and oversight of the Authority’s computer systems, voice, and data communications networks by working with the Senior Director of Information Technology and vendors to identify and evaluate technology needs and provide technical solutions and cost-effective approaches for daily administrative and Authority operations.
- Represents the Finance Department to other Authority departments, elected officials, and community-based organizations, and coordinates Department activities with those of other departments and external agencies and organizations as appropriate.
- Communicates and coordinates accounting policies, practices, and procedures with department and Agency managers, vendors, reporting agencies, clients, and the public.
- Conducts budget workshops with other directors and commissioners during the budget process.
Talent and Leadership Development
- Supervises departmental staff, providing ongoing assistance to support a positive and productive working environment.
- Makes recommendations for and oversees the selection, employment, training, direction, supervision, utilization, discipline, and termination of department employees.
- Makes recommendations regarding salaries, employee benefits, and periodic revisions.
- Counsels and prepares periodic evaluations on the accomplishment of assigned goals and objectives.
QUALIFICATIONS
The qualified candidate will have a Bachelor’s Degree from an accredited college or university with major coursework in Accounting and eight (8) years of experience in financial management. The CPA designation and a Master’s Degree in Accounting, Finance or related field are both preferred.
The qualified candidate will also demonstrate the following knowledge and abilities:
- Thorough knowledge of the modern principles, practices and techniques pertaining to accounting, budgeting, financing, financial reporting procedures and requirements, personnel management, and financial management of housing programs.
- Comprehensive knowledge of modern principles, GAAP, budgeting, financing, loans, mortgages, and financial reporting and cost allocations.
- Thorough knowledge of the relationship between the Authority and federal, state, and local jurisdictions and their abilities to provide funds or other support to the Authority; accounting control requirements; and auditing principles and procedures.
- Thorough knowledge of applicable federal (HUD), state, and local laws and regulations pertaining to public housing authorities and the Housing Authority’s operating policies and procedures as they pertain to the position.
- Thorough knowledge of the modern principles, practices, and techniques of personnel management, training, and performance evaluation.
- Ability to prepare clear and concise narrative and statistical reports and deal effectively with situations requiring tact and diplomacy, with firmness.
- Ability to plan, direct, and supervise the work of others, to delegate responsibility and authority, and to hold subordinates accountable for tasks assigned.
- Ability to present information in a clear, organized, and convincing manner.
- Ability to accurately and completely document in writing appropriate events and activities.
- Ability to read and comprehend complex material.
- Ability to establish and maintain effective working relationships with subordinates, co- workers, and persons outside the Authority.
- Ability to operate appropriate Authority computer equipment and software packages.
TO APPLY
The Alexandria Redevelopment and Housing Authority is partnering with PoliHire to identify their next Senior Director of Finance & Budget. If you are interested in this opportunity, please send a letter of interest and resume outlining your experience to resumes@polihire.com. Please include “ARHA Senior Director ” in the subject line of your email.
ABOUT THE ALEXANDRIA REDEVELOPMENT AND HOUSING AUTHORITY
The Alexandria Redevelopment and Housing Authority (ARHA) was established on June 27, 1939 by City Ordinance and Mayoral appointment of a five-member Board of Commissioners, in accordance with the Code of Virginia’s enabling legislation. The first low-rent housing units were occupied in 1941.
For over 80 years, the Authority has managed the City of Alexandria’s public housing units and provided affordable housing, economic opportunities and a living environment free from discrimination for low-income and moderate-income residents of Alexandria. The Authority’s mission for the next five years is to become an industry leader in the development and management of model mixed-income communities, while simultaneously increasing ARHA residents’ self- sufficiency and quality of life.
The Authority’s mandate is to:
- Administer and operate the Public Housing Program for persons in the low income and low- to-moderate income brackets, in accordance with state and federal statutes and regulations prescribed by the U.S. Department of Housing and Urban Development (HUD).
- Administer the tenant-based Section 8 (now Housing Choice Voucher Programs) for persons in the low- and moderate-income brackets, in accordance with state and federal statutes and regulations prescribed by HUD.
- Administer and operate Moderate Rehabilitation Programs for project-based subsidies in privately owned properties, operated and maintained by ARHA.
- Administer and operate Low Income Housing Tax Credit properties for low income and low- to-moderate income families, owned, operated and maintained by ARHA.