Controller

Company: Reinvestment Fund

Location: Philadelphia, PA

Job Function: Accounting


Background

About Reinvestment Fund

Headquartered in Philadelphia, Reinvestment Fund operates nationally with regional offices in Baltimore, MD, and Atlanta, GA. Reinvestment Fund is a national mission-driven financial institution that creates opportunity for underserved people and places through partnerships. We marshal the capital, analytics, and expertise necessary to build strong, healthy, and more equitable communities.

As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs. They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services.

At Reinvestment Fund, you’ll be part of a talented and passionate team of communicators and business development staff, lenders, portfolio managers, analysts, grant program managers, accountants, and policy researchers who bring their unique talents to our mission.

Reinvestment Fund is currently undergoing a multi-year race, equity, and inclusion organizational change process, and we are seeking candidates who share a commitment to advancing racial equity and anti-racism and are prepared to engage in that work.

Work Location

Reinvestment Fund is maintaining a 100% remote work environment through mid-2022 due to COVID. Reinvestment Fund expects to provide a flexible work arrangement that will be a hybrid home/office work arrangement in 2022 and beyond. It is anticipated that a combination of working remote and two days in a Reinvestment Fund office location will allow for face-to-face interactions. Depending on the nature of the job, a more flexible work schedule may be considered.

Summary

The ideal candidate must be a highly motivated self-starter who is intellectually curious, enjoys working in a fast-paced environment and adapts easily to rapid change. The Controller is responsible for safeguarding all the company assets; assuring accurate and timely recording of all transactions and subsequent financial reporting; adhering to compliance with all applicable internal and external mandates with particular emphasis on IRS and FASB regulations, and ensuring ethical operation of the businesses.

The Controller reports directly to the CFO. The Controller leads the Accounting Department with a staff of ten, including two assistant controllers and two accounting managers as direct reports.

Responsibilities

Management & Leadership

  • Develops and sets clear objectives for accounting staff to ensure alignment and achievement of company initiatives and objectives.
  • Leads the accounting function of the Finance Department in all technical areas and ensures that all staff are appropriately trained and developed.
  • Ensures that policies and procedures for all areas under responsibility are documented, followed, disseminated, and updated as needed

Accounting, Reporting, and Compliance

  • Directs the monthly close process and reviews final consolidated financial statements and internal narrative-based financial reporting package.
  • Ensures appropriate GAAP accounting principles are accurately and consistently applied to all financial transactions. Leads research into new accounting pronouncements and develops implementation plans.
  • Ensures integrity of data and proper segregation of duties in the company ERP system.
  • Researches the impact of new business ventures on financial and operational reporting including such things as consolidation determination, noncontrolling interests, loan participation reporting and impaired loan reporting.
  • Oversees the relationships and provision of information to three external audit firms for annual audits.
  • Ensures accurate and timely reporting of all grant and contract-related transactions as required.
  • Assures compliance with all related local, state, and federal government reporting requirements and tax filings, grants, and contracts.
  • Liaison to internal Compliance Officer and/or internal auditors to assist the development of and assure adherence with all internal financial controls, policies, and procedures.
  • Approve general ledger and bank transactions on a daily basis.
  • Responsible for maintaining financial systems that are appropriate for the size and complexity of the company, with an eye toward continuous process improvement.

Communication and Collaboration

  • Communicates progress on major accounting initiatives to the Audit Committee of the Board of Directors.
  • Participates in monthly Criticized Asset Meetings to determine that GAAP accounting rules for impaired assets are followed.
  • Collaborates with controllers in other CDFIs across the country to discuss best practices and new accounting pronouncements.

Requirements

Education, Experience, and Skills

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 ability required.

  • Bachelor’s degree and CPA license required, MBA a plus.
  • Minimum 10 years of relevant accounting and financial reporting experience demonstrating a progression of management responsibility including a minimum of 5 years at the Controller level, or equivalent time as a Director/Senior Manager in a public accounting firm.
  • Experience in the financial services industry is required, and not-for-profit accounting experience is a definite plus.
  • In-depth understanding of GAAP particularly accounting for consolidation, lending transactions, and current expected credit losses. Familiarity with accounting for investment companies is a plus.
  • Strong leadership skills and the ability to think strategically and operationally (ideal candidate would have 50/50 experience between public and “hands-on” operational controllership).
  • Experience with a complex multi-company corporate structure with intercompany transactions.
  • Superior analytical, quantitative, and communication skills.
  • Expertise in the use of ERP systems and Excel.
  • Impeccable integrity and ethics.

Compensation and Benefits

Reinvestment Fund offers a competitive salary based on experience and skills, as well as an excellent benefits package including employer-paid health, disability, and life insurance, 401(k) retirement savings plan with employer match, flexible spending accounts (medical, dependent care), commuter benefits, tuition reimbursement, paid time off, and EAP program.

How to Apply

Please complete the online application at www.reinvestment.com and attach your resume and a cover letter.

Reinvestment Fund uses E-Verify to validate all new hires’ ability to legally work in the United States. Reinvestment Fund is an Equal Opportunity Employer.  Reinvestment Fund does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disabilities, or status as a veteran.

Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) that is a state-registered investment adviser.  In order to advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA.   As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and/or securities transactions information. For certain individuals, this reporting will extend to your household members. You may be subject to a background check.

COVID-19 Vaccination Update: We value the safety and well-being of our RF Community, which includes staff and beyond. As such, our team has chosen to require all staff, interns, and contractors to be fully vaccinated as a contingency of employment. Candidates should consider this requirement before applying.