Neighborhood Housing Services of Chicago, Inc. ("NHS") is a nationally recognized nonprofit housing, counseling, lending, and community development organization which has loaned and leveraged investment of more than $1.1 billion in Chicago’s neighborhoods since its founding in 1975. The mission of NHS is “to create opportunities for people to live in affordable homes, improve their lives, and strengthen their neighborhoods.”
NHS has five major areas of program activity:
Neighborhood Strategy/Community Building
NHS promotes community development through seven neighborhood-based and two regional offices, offering home ownership, lending, and home rehabilitation services. Through these offices, NHS builds powerful and enduring community partnerships to stabilize and transform the neighborhoods which it serves.
Neighborhood Lending Services (NLS), a nonprofit formed in 1986, is a Community Development Financial Institution ("CDFI") and an Illinois Residential Mortgage licensee. NLS originates loans that finance home improvement, home purchase, refinance, and home rehabilitation for low- and moderate-income families in NHS' geographies. NLS has lent primarily through a series of loan pools through which it has originated loans on behalf of a group of national, regional and community banks. NHS and NLS have lent approximately $590 million in total since 1975. NLS just recently raised its most recent loan pool of $35 million, which it will lend out over the next several years on behalf of these financial institutions.
Home Ownership Education and Counseling
NHS’s Home Ownership Education and Counseling program educates and prepares new low- and moderate income homeowners for success and sustains home ownership through post-purchase education and foreclosure prevention. It represents an innovative approach to providing services and training to help low and moderate-income families to purchase, rehabilitate, insure, and maintain a home. This program operates under grants from the City of Chicago and others, as well as through contract services to residential loan servicers.
NHS’s Innovation Division is responsible for spearheading new solutions to the evolving challenges in NHS’s target neighborhoods, as well as measuring the impact of NHS' activities. NHS is considered to be a pioneer in analyzing trends, responding to revitalization issues, and anticipating future needs and partners with policy makers at the local, state and national levels. NHS is a leader in the Neighborworks America® network and an active member of the Housing Partnership Network and other organizations.
Real Estate Development
The NHS Redevelopment Corporation (NHSRC), a nonprofit formed in 1985, has historically purchased and redeveloped single- and multi-family properties, and builds and sells new homes. Redevelopment activity has been strategically targeted to support the work of the neighborhood-based programs and promote neighborhood development. NHSRC currently owns and manages 295 units of multi-family and single-family low-income rental housing, but is in the process of exiting its multifamily business. In addition to improving neighborhoods through development, the NHSRC looks to address blighted and troubled buildings through its receivership and developer loan programs.
Since its founding, NHS and its affiliates have served more than 219,000 families, loaned approximately $597 million, assisted in the creation of over 4,800 new homebuyers, educated 38,800 individuals, and financed, built or rehabilitated 34,357 homes. Since 2003, NHS has counseled or educated 31,327 people at risk of foreclosure, saved more than 9,136 families from foreclosure, and reclaimed 1,222 vacant properties. NHS operates in the City of Chicago and Elgin, IL to serve residents of the Fox Valley. NHS recently opened an office in East Hazelcrest, IL to serve residents of South Suburban Cook County. NHS’ annual operating budget is $12 million. The organization’s current staff includes 110 positions. Lending and real estate development investment totals approximately $26 million annually.
In 2014, NHS appointed Kristin Faust as its new President. Under Kristin’s leadership, NHS has conducted a review of its business and is moving forward under a new strategic plan. Kristin and her team are continuing NHS’s long tradition as a national thought-leader in its field. The organization is well positioned to reach its next level of achievement. For more information on NHS visit www.nhschicago.org
SCOPE AND RESPONSIBILITIES:
This position offers the opportunity to be a critical player on the NHS management team and has exposure to senior leadership and other external stakeholders. The Controller is responsible for maintaining and improving the financial management system and oversight of the system of internal financial controls for all entities, and related limited partnerships. The Controller is responsible for directing and managing the staff and activities which support the overall financial health and strategic position of the organization; the Controller has three direct reports in a Finance Department of ten. The Controller reports to the Chief Financial Officer.
Principal Job Duties and Responsibilities
Manages the preparation of monthly financial statements which are submitted to the NHS Finance Committee. Preparation includes ensuring all events, transactions, accruals, and adjustments are posted timely, all accounts are reconciled, and all information is disclosed.
Audits and Tax Document Preparation
Coordinates the annual financial statement audit process with the external auditors and Finance department staff. Responds appropriately to audit recommendations.
Coordinates the annual 403b audit process with the external auditors and internal staff. Responds appropriately to audit recommendations.
Manages preparation of financial statements and the related footnotes for the annual NHS consolidated financial statement audit, including preparation of the schedule of expenditures of federal awards for the OMB A-133 Single Audit.
Monitors and reviews the annual audits for the multi-family limited partnerships.
Manages the preparation of IRS Form 990s for all NHS corporations ensuring information is updated timely and accurately.
Monitors and reviews the preparation of the tax returns for the multi-family limited partnerships.
Financial Policies, Procedures, and Internal Controls
Oversees the application of and adherence to established financial policies and procedures to ensure a strong system of internal financial control with a strong bias for continuous improvement; recommends and writes new and revised policies and procedures; effectively communicates policies and procedures to organization.
Reviews and approves journal entries and accounts payable in accordance with policy for all operations, including lending, redevelopment, counseling, and general operations ensuring appropriate supporting documentation is attached.
Ensures all events and transactions are approved in accordance with established financial policies and procedures and recorded on a timely basis. This includes ensuring appropriate documentation of approvals is maintained.
Ensures all general ledger account balances are reconciled on a monthly basis. This includes documentation and approval of the reconciliations.
Manages risks and detects issues with internal financial controls, policies and procedures and escalates those issues productively, then recommends and implements solutions to mitigate those risks and resolve those issues, including the recommendation of new or revised policies and procedures. This activity can also involve coordinating the efforts of others in the organization outside of the Finance Department.
Treasury and Cash Management
Oversees treasury management activities to ensure adequate resources are available; prepares cash flow forecasts to manage the organization’s cash position, including loan closings and line of credit; prepares borrowing base certificates for lines of credit; ensures bank accounts and reconciled on a monthly basis; reviews daily bank balances and cash position. Also recommends and implements policies, programs and procedures that maximize earned and investment income and advises senior management team members on ways to enhance financial position.
Prepares activity based costing and programmatic allocations of organizational direct and indirect costs to funding sources and legal entities. Conducts research into allocation best practices for NHS consideration.
Oversees the preparation of grants, contracts, and debt compliance reports to government agencies, private foundations, financial institutions, and others; oversees contract-billing process with governmental organizations, foundation and collaborative partnerships to ensure vouchers are submitted timely, accurately, and with appropriate supporting documentation (including time tracking by contract) to speed review and payment.
Oversees the payroll function ensuring payroll data is accurate and timely; ensures staff respond to payroll inquiries timely.
Budget Development and Variance Analysis
Manages the completion of the annual budget and forecast templates, which includes meeting with and providing guidance to department heads, analyzing budget to actual performance, reconciling department budgets with grants/contracts budgets, analyzing trends, and forecasting organization-wide personnel and non-personnel expenses. Provides recommendations to programmatic areas and departments on cost allocations, budget performance, and cost savings ideas. Manages the development of special purpose budgets as needed.
Supervises four direct reports within the Finance department who maintain and monitor sound internal financial controls and financial reporting systems within established financial policies and procedures to provide a reliable basis for senior management team and Board decisions.
Is responsible for the overall direction, coordination, and evaluation of these individuals. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; ensuring appropriate ongoing education is obtained; rewarding and disciplining employees; addressing complaints and resolving problems.
Effectively and efficiently navigates financial management systems and Microsoft Office software to create and maintain easy-to-use reports, analyze comprehensive sets of data, and prepare financial statements, budgets, and forecasts
Ensures that financial and customer information is secure, which includes ensuring proper storage of files and documentation and ensuring authorized access to financial management systems.
Maintains core professional competencies. Attends and participates in advanced educational programs and staff meetings.
Performs other duties as assigned.
Communicates with the Chief Financial Officer on a timely basis regarding status of required responsibilities and issues that may pose a risk to the finances, operations, compliance requirements, or established controls of the organization.
Supervises Finance department staff to ensure performance of expected job duties.
Ensures monthly financial statements and footnotes are prepared five business days prior to the monthly NHS Finance Committee meeting; ensures events and transactions are recorded timely and in the proper month.
Ensures statements and schedules required for the annual audit process are prepared in advance of the auditor’s fieldwork; ensures all IRS Form 990s and limited partnership tax returns are filed timely.
Ensures account reconciliations are completed and approved monthly; ensures journal entry approvals are documented; ensures documentation of completed reconciliations and approvals is maintained in an organized and easy to retrieve manner.
Maintains an adequate cash position enabling the organization to meet lending and investment commitments, while maximizing the earnings potential for liquid assets.
Provides high-quality customer service, both external and internal, to meet organizational standards.
Responds timely to investor and loan servicer requests for information.
Ensures grant and contract compliance reports, budgets, and other analyses are prepared and filed timely.
Bachelor’s Degree in Accounting or closely related field and Certified Public Accountant (CPA) designation is required.
Minimum four (4) years of industry experience in public accounting, not-for-profit, mortgage brokering, or real estate environment with increasing supervisory/management responsibility.
Special Knowledge and Skills
Demonstrated ability to work effectively in a team environment required.
Demonstrated experience in oversight of systems of internal financial controls required.
Demonstrated ability to research accounting pronouncements and other authoritative literature and to appropriately apply principles.
Experience sufficient to manage all financial functions, including preparation of financial statements and footnotes, treasury management, budget development, payroll, accounts receivable, and accounts payable.
Experience with not-for-profit accounting highly preferred.
Experience with government contract compliance and OMB A-133 audit requirements preferred.
Experience with bank or mortgage accounting preferred.
Strong managerial and leadership skills required.
Computer literacy required. Prior experience with general ledger systems required.
Additionally, the Controller is expected to:
Illustrate progressive responsibility as an effective financial strategist and manager in housing, lending, and/or real estate development environment.
Be a skilled leader, who has managed complex financial and programmatic systems and processes.
Be knowledgeable of generally accepted accounting principles, regulations and laws applicable to the position’s functional areas of responsibility.
Have a proven track record of achieving results and managing, coaching and developing people.
Have sound technical skills, analytical ability, good judgment, and operational focus.
Be a well-organized, self-directed, politically savvy team player.
Be an articulate, succinct and persuasive oral and written communicator who can interact with diverse audiences.
Be a decisive leader who is also inclusive and collaborative.
Think and act entrepreneurially.
Be a results-oriented professional who can positively influence organizational outcomes.
Possess the highest personal and professional integrity, compassion and standards of excellence.
Be passionate about the work we do and the people and communities we serve!
To perform this job successfully, an individual should exhibit a high degree of proficiency with Microsoft Office Suite, particularly Excel, as well as automated accounting systems and applicable software programs (e.g., Sage’s Micro Information Products (MIP)).
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
NHS is an Equal Opportunity Employer committed to a diverse and talented workforce.
Interested applicants should apply via the following url for consideration:
About Neighborhood Housing Services of Chicago, Inc.
Established in 1975, Neighborhood Housing Services (NHS) of Chicago is a non-profit neighborhood revitalization organization committed to helping homeowners and strengthening neighborhoods. Our mission is to create opportunities for people to live in affordable homes, improve their lives, and strengthen their neighborhoods.
NHS is a 501c3 non-profit corporation which includes five separate lega...l entities: Neighborhood Housing Services, Neighborhood Lending Services, Neighborhood Redevelopment Corporation, Neighborhood Redevelopment Corporation Initiatives, and Neighborhood Housing Services of the Fox Valley.
Neighborhood Lending Services (NLS) is a Community Development Financial Institution Loan Fund that stabilizes and revitalizes economically distressed communities throughout metropolitan Chicago. We facilitate such revitalization by helping first-time homebuyers purchase and maintain their own homes.