Description

Background:

Established in 1984, BFC Partners is a full-service real estate development firm dedicated to creating community-first, urban development solutions in culturally rich neighborhoods. Providing affordable housing and mixed-use developments in order to strengthen and revitalize communities, the firm manages the entire development lifecycle, including land acquisition, community engagement, financing, design, construction management, and asset management. Based in New York City, BFC Partners has delivered over11,000 housing units, developed more than2 million square feetof commercial and retail space, and1 million square feetof community space, and preserved over5,000 affordable housing units. The company’s core values—Pioneering Progress,Committing to Community,Staying Affordable,Sharing Success, andBeing Accountable—guide every aspect of its work.

The Position:

BFC Partners is seeking a skilled and seasoned financial professional to become its next Vice President of Finance/Chief Accounting Officer (VP/CAO).  As a key member of the Executive Management team, the VP/CAO will act as a trusted advisor to the Partners and executive management team on all matters relating to the financial strategy and operations of the firm. The VP/CAO will oversee all finance, accounting, budgeting, reporting, tax, payroll, treasury and HR functions and assume a key role in the overall management of the company. Having established credibility within the organization and with lenders, the VP/CAO will be a strong leader in driving continued profitability and establishing a best-in-class Finance and Accounting function.

In addition, the VP/CAO will serve a leading role in evaluating and supporting organic growth strategies, as well as assisting in the potential execution and integration of acquisitions. BFC Partners is seeking a candidate who understands the importance of culture, brand, and strategy and will work proactively to justify investments in those areas. The position requires a person who can implement and manage their responsibilities while being cognizant of BFC’s culture and core values of success.

Specific responsibilities will include but not be limited to:

• Proactively collaborate with the Partners and senior leadership team to identify and drive the organization to achieve strategic and operational objectives;
• Provide leadership, direction, and management of the finance, accounting, and human resources (HR) teams;
• Elevate the finance function so that it adds value above-and-beyond accurate and timely financial reporting;
• Provide tactical financial guidance and advise on strategic leadership decisions that affect the firm’s financial stability and continued success (e.g., the evaluation of potential alliances, acquisitions and/or mergers and investments);
• Develop a reliable cash flow projection process and reporting mechanism which includes a minimum cash threshold to meet operating needs;
• Evaluate the finance division’s structure and team and develop plans to continually improve the group’s efficiency and effectiveness while supporting employees’ professional and personal growth;
• Evaluate and advise on the impact of long-range planning, introduction of new programs/strategies, and regulatory action;
• Develop and maintain key external strategic partnerships;
• Oversee and ensure accurate and timely reporting to external constituencies and maintenance of data systems where necessary;
• Forecast cash flow based on upcoming projects, expenditures, investments, and tax liabilities;
• Oversee the Project Accounting department;
• Prepare operating budgets and oversee financial reporting; coordinate the preparation of financial statements, financial reports, and project reports;
• Review, analyze, and present to the management team the month-end, quarter-end, and annual financial statements;
• Conduct monthly financial project review meetings with respective project management teams;
• Oversee and review yearly audit and preparation of tax returns by external CPAs;
• Analyze and manage process for work in progress (WIP) reporting and closing;
• Oversee the full cycle accounts receivable and accounts payable process;
• Perform margin analysis on projects for improved cost management and increased profits;
• Implement and coordinate changes and improvements in automated financial and management information systems and new systems in process;
• Ensure compliance with local, state, and federal income, sales, and payroll tax requirements;
• Oversee the approval and processing of requisitions, payments to subcontractors, purchasing, department budgets, ledger, account maintenance, and data entry;
• Establish and maintain appropriate internal control safeguards;
• Ensure financial records and systems are maintained in accordance with generally accepted accounting principles (GAAP) and other methods of accounting as needed;
• Establish and implement short- and long-range departmental goals, objectives, policies, and operating procedures;
• Represent the company externally to government agencies, banks, sureties, and insurance brokers and carriers;
• Coordinate external audits with outside accounting firms and governmental agencies or unions;
• Recruit, train, supervise, and evaluate accounting department staff;
• Oversee the Human Resource function.

YEAR ONE CRITICAL SUCCESS FACTORS:

BFC Partners has identified the following as the key success factors for year one:

• Learn the business and culture to build credibility with the executive team, peers, direct reports, and key stakeholders;
• Optimize and streamline the corporate and functional structure of the finance team to promote deeper alignment and plan for continual improvement;
• Collaboratively lead the senior management team and other key internal constituents through a comprehensive uniform budgeting process while playing an active role in consistently promoting operational excellence.

Requirements

Qualified candidates must have a broad understanding of business operations as well as strong leadership, communication, and analytical judgment skills to complement proven C-level technical expertise. This position requires an executive who is financially and operationally savvy, with a demonstrated ability to develop and monitor key performance metrics/dashboards in partnership with all department heads to support effective resource planning.

The successful candidate will possess strong finance and accounting skills, exceptional attention to detail, strong critical thinking skills, and the ability to be a hands-on leader who takes ownership of the financial and accounting strategy. Prior experience in a dynamic real estate development and construction company would be ideal. Additionally:

• Bachelor’s Degree in Accounting or Finance is required; MBA, CPA and/or other relevant professional designation is highly preferred;
• 12 or more years’ experience in finance roles, with at least 3 of those years serving in leadership roles as VP of Finance or related title within a company;
• Extensive knowledge of P&L, Balance Sheet and Cash Flow statements, coupled with strong GAAP accounting principles understanding;
• Fluency in enterprise resource planning (ERP) software; Timberline/Sage 300/Sage Intacct preferred;
• Ability to oversee the audit process;
• Strong writing, verbal, and interpersonal skills with the ability to communicate clearly with staff and to present BFC Partners in a compelling and effective manner to clients and stakeholders;
• Proactive problem-solving abilities and excellent judgment;
• Experience leading and mentoring staff; ability to evaluate and support professional development needs and opportunities as well as strategies to encourage growth;
• Experience distilling an organization’s operational areas for opportunity and building new internal capabilities to drive profitable growth;
• Early career experience in public accounting with a top tier firm is a plus;
• Deep commitment to equity, inclusion, accessibility, as well as an interest in community/neighborhood development;
• Discretion, maturity, and a high level of trustworthiness.

Other Information:

BFC Partners is an equal opportunity employer, and does not discriminate on the basis of race, color, religion, creed, sex, sexual orientation, gender identification, national origin, ancestry, age, marital status, citizenship status, veteran status, disability or any other criterion specified by federal, state or local laws, in the administration of its employment policy. BFC Partners strongly encourages applicants from all cultures, races, educational backgrounds, life experiences, socio-economic classes, sexual orientations, age, gender, and physical abilities to apply.

Compensation:

Compensation is expected to be $300K, plus bonus and benefits.

This position requires in-office attendance 5 days/week.

To Apply:

BFC Partners has retained the services of Harris Rand Lusk to conduct this search. Inquiries, nominations, and applications may be directed in confidence to:

Jack Lusk, CEO & Managing Partner
Anne McCarthy, COO
Harris Rand Lusk
260 Madison Avenue, 15th Floor
New York, NY  10016

Email cover letter and resume to: amccarthy@harrisrand.com

Please include “BFC Partners VP/CAO” in the subject line of the email