VP of Finance & Real Estate Operations

Norris Square Community Alliance (NSCA) is a mission-driven community development corporation located in the Norris Square section of North Philadelphia. We provide comprehensive services to families in the areas of pre-school, afterschool, counseling, housing, and workforce development. We thrive on empowering, improving and promoting the self-advocacy of our economically diverse residents to bring about sustained improvements in their quality of life. After 35 years of services, the founder CEO retired, and we underwent a change in executive leadership in 2020. We are excited about our strategic direction and are currently looking to expand our team to help accomplish our vision. We are looking for passionate individuals who are committed to fighting poverty and inequality to join our team. We value employees who take pride in what we do and play a role in helping transform our organization and neighborhood each day.

Reporting to the Executive Director, this position is responsible for overseeing the financial and real estate operations of the organization. The ideal candidate will have a combination of experience in real estate financing and nonprofit. Previous experience with community development corporation is a plus with demonstrated experience in a multi-entity environment. Of critical importance is the candidate’s experience with annual audits and pro forma preparation for real estate projects, operating multiple companies. Understanding of consolidations, inter-company transactions, tax-basis, GAAP, and fair-value GAAP accounting is a necessity for success in this role, as is advanced skills in Excel and in the use of accounting software, including accounting software implementations and migrations.

RESPONSIBILITIES

• Oversee the finance and neighborhood development departments.
• Oversee development of budgets for core operations, building operations and Real Estate development projects.
• Legal, regulatory and partnership compliance regarding all financial functions
• Create financial models to evaluate potential new development or investments opportunities. Models include project and portfolio level performance and structured finance.
• Create financial models to evaluate property investment strategies with operating costs/revenue and income streams.
• Support Executive Director with financial models and analyses.
• Update financial models with actual data to evaluate investments.
• Negotiate development financing with the appropriate documentation.
• Assist with the preparation of multifamily applications for financing.
• Perform market research to determine/verify a project’s economics and verify assumptions used in models.
• Identify financial issues with potential economic impact.
• Work with Neighborhood Development Director to resolve development issues.
• Assist with physical due diligence (including review of contracts, preparing the budgets) of potential & existing acquisitions.
• Diagnose and troubleshoot financials on a monthly basis for errors and omissions.
• Assist and support in development of capital raising strategy and execution.
• Oversees financing strategies, activities, and partner and banking relationships.
• Oversees cash & investments to appropriately balance risk, return and liquidity.
• Prepare and present financial analysis with findings and recommendations.

REQUIREMENTS

• Must have a Bachelor’s Degree in Finance, Real Estate or a related field. Master’s degree preferred. MBA a significant plus.
• Must have high proficiency with computer software, including Microsoft Word, Excel and Outlook. Advanced skills in Microsoft Excel is a must.

• Must have outstanding leadership skills.
• Eight – ten years of experience in Real Estate Finance is a must. Experience in community development corporation strongly preferred.
• Knowledge of MIP accounting software strongly preferred.
• Must be able to work independently, be reliable and organized.
• Must have excellent verbal and written communication skills.

DISCLAIMER:

The information presented indicates the general nature and level of work expected of employees in this classification.  It is not designed to contain, nor to be interpreted as, a comprehensive inventory of all duties, responsibilities, qualifications, and objectives required of employees assigned to this job.

Competitive compensation based on experience. A comprehensive benefits package includes health insurance, life insurance, short term disability, ten paid holidays, personal time off (PTO), spring and winter break periods, compensatory time, and 403(b) retirement plan.