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P2418 - Director of Finance, Habitat GTA
Posted on: 29 Jun 2020
Our client, Habitat for Humanity Greater Toronto Area (Habitat GTA), is a nonprofit housing developer in the process of expanding and diversifying how they achieve their mission of helping working, lower income families realize the strength, stability and self-reliance of a home of their own. With the help of volunteers, donors, and community partners, Habitat GTA provides a solid foundation for better, healthier lives for families, stronger communities and a better GTA for everyone. Since 1988, Habitat GTA has built 22 new communities and over 400 homes. The organization currently has over 300 mortgages actively under management as well as a number of active construction and land development projects in its pipeline. Habitat GTA has a service area that represents approximately 1 in 3 Ontarians, encompassing Brampton, Caledon, Toronto, and the Regions of Durham and York.
From a finance standpoint, Habitat for Humanity GTA provides an extremely challenging and stimulating opportunity given its unique business model. Business lines include: ReStores (retail), land development, construction, mortgages and fundraising. The Director of Finance will take their understanding of this inter-woven structure and become a strategic thought-partner, reporting to the CFO.
The successful candidate will be able to convert readily between hands-on reporting/analysis and long term organizational planning and will drive the following areas: project and construction financing, business planning, monthly financial reporting and budgeting. They will play a critical role in partnering with the senior leadership team in strategic decision making and operations as Habitat GTA continues to enhance its build capacity. This is a tremendous opportunity for a finance leader to maximize and strengthen the internal capacity of a well-respected organization. Position also provides opportunity to interact with other financial professionals from Habitat Affiliates across North America and other not-for-profits.
Responsibilities:
• Analyze and present financial reports, including those presented to the Board of Directors, in an accurate and timely manner; clearly communicate monthly and annual financial statements; compile financial reporting materials, and oversee all financial, project/program and grants accounting.
• Undertake financial modelling to support the organization’s ongoing strategic planning and related efforts
• Act as prime relationship to banks/lenders for all financing requirements: construction loans, term loans, equipment loans, mortgages
• Seek, negotiate, structure and monitor all debt that best suit project requirements and overall organizational financial health and stability
• Lead the annual audit process
• Introduce and leverage new financial information systems and streamlined processes, where appropriate
• Lead the annual budgeting and planning process in conjunction with the CFO and CEO; administer and review all financial plans, KPIs and budgets; monitor progress and changes and keep senior leadership team abreast of the organization’s financial status.
• In the context of understanding the complexities of the Habitat business model, manage organizational cash flow, modeling and forecasting
• Lead the Enterprise Risk Management process and reporting system, introducing continuous improvement for enhanced decision making
• Develop and implement appropriate efficient accounting, status reporting, internal controls and auditing systems, along with supporting documentation, as appropriate.
• Update and implement all necessary business policies and accounting practices
• Provide insightful research and analysis to leadership to aid in decision making. Make recommendations to management on financing, debt and the financial sustainability of projects.
• Provide leadership and mentoring to staff and volunteers, as appropriate, to foster an environment of problem solving, collaboration, efficiency, and improved business practices
Requirements:
• A CPA professional accounting designation
• At least 7-10 years of overall professional finance and operational experience
• Exposure to real estate development and project accounting and financing, with understanding of lenders, products, rates/fees/payment structures
• Comfort with real estate and financing legal documentation (e.g., APS, loan agreements)
• Proficient with real estate accounting issues
• Experience with the final responsibility for the content and accuracy of all financial data and reporting
• Experience with day-to-day financial operations: invoicing, banking, AP/AR, taxes, payroll
• Strong communication skills (written and spoken) and excellent presentation skills with the ability to interact effectively with Finance leaders across the sector
• Advanced skills in Microsoft Excel
• A successful track record in setting priorities; keen analytic, organization and problem solving skills which support and enable sound decision making
• Knowledge of the social/affordable housing sector is desirable including: federal, provincial and municipal grants/programs
• The ideal candidate will be a high energy, entrepreneurial finance leader with a social conscience who is looking to put down roots in an organization with the goal of being the successor for the current CFO
Attributes:
• An ambitious top performer with drive for continuous improvement – this role is considered a successor to the current CFO
• Interest and desire to build the capability of a finance team
• Flexibility and drive to grow with the organization as it too evolves and grows
• Passion for affordable housing and Habitat’s mission
Respondents should apply to Kelley Wagner, kelley@osbornefinancialsearch.com.