Chief Financial Officer

Description

Position Summary

The Chief Financial Officer (CFO) is a senior executive responsible for the financial strategy, fiscal integrity, and regulatory compliance of the parent nonprofit organization and its affiliated LLCs and related entities. The CFO ensures sound financial stewardship across a mixed funding portfolio, including federal, state, local, and private sources, while maintaining compliance with 2 CFR Part 200 (Uniform Guidance) and other applicable regulations.

This role provides strategic leadership for budgeting, forecasting, financial systems, audits, and risk management across a multi-entity structure that may include housing, property ownership, and service delivery LLCs.

The CFO leads, manages, and develops the finance team and ensures adherence to the agency’s fiscal policies and procedures. The CFO serves as a trusted advisor to the Chief Executive Officer (CEO) as a key thought partner, collaborates with other members of the Executive and Leadership teams, and works closely with the Board of Directors supporting the Finance Committee. The CFO champions the integration of Housing Forward’s values and models a commitment to diversity and inclusion.

Annual Budget: ~$25 million (including affiliated entities)

Funding Mix:
Federal (HUD, VA), State of Illinois, local government, private and earned revenue

Entity Structure:
Parent nonprofit with multiple affiliated LLCs and related entities

Requirements

Enterprise-Wide Financial Strategy & Leadership

• Lead financial strategy and planning for the parent nonprofit and all affiliated LLCs, ensuring alignment with mission, governance structure, and long-term sustainability.

• Develop multi-year financial plans and scenario models that reflect complex entity structures, funding restrictions, and intercompany relationships.

• Advise executive leadership and Board of Directors on financial risks and opportunities related to entity structure, housing assets, and funding diversification.

• Present consolidated and entity-specific financial reports to the Board of Directors and Finance Committee.

Budgeting, Forecasting & Financial Planning (Multi-Entity)

• Lead development of annual and multi-year budgets for the organization and each affiliated LLCs.

• Oversee rolling forecasts, cash flow projections, and variance analyses at both consolidated and entity levels.

• Ensure budgets align with grant agreements, contracts, operating agreements, and lender requirements.

• Support program and operations leaders in managing entity-specific budgets and financial performance.

• Monitor liquidity and cash flow across entities, including reimbursement-based funding and property-related expenses.

• Monitor banking and investment activities of the organization and initiate appropriate strategies to enhance cash positions and achieve long-term growth of assets

Financial Management & Systems (Sage Intacct)

• Oversee day-to-day financial operations across all entities, including general ledger, accounts payable/receivable, payroll, and financial reporting.

• Ensure accurate consolidated and entity-level financial statements in accordance with GAAP and nonprofit accounting standards.

• Lead configuration and ongoing optimization of Sage Intacct to support multi-entity accounting, including:

• Entity and dimensional reporting

• Grant, contract, and program tracking

• Intercompany transactions and eliminations

• Ensure financial systems support reporting requirements for funders, lenders, regulators, and Boards.

Federal, State & Local Compliance (2 CFR 200)

• Ensure organizational compliance with 2 CFR Part 200, including allowable costs, procurement standards, cost allocation, and internal controls.

• Oversee financial compliance for HUD, VA, Illinois state agencies, and other public funders across applicable entities.

• Ensure proper financial segregation and documentation for restricted funds and entity-specific activities.

• Interprets implication of changes in local, state and federal regulations.

• Partner with Compliance and Grants teams to ensure financial practices align with grant agreements, contracts, and operating agreements.

Cost Allocation & Intercompany…