Chief Financial and Operating Officer

Overview

The Organization: The Massachusetts Housing Partnership (MHP) is a public, nonprofit organization that expands access to affordable housing and promotes housing equity in communities across the Commonwealth. Founded in 1985, MHP is a 70+ employee organization that has delivered $6.5 billion in below-market bank financing for affordable housing and currently has $1.2 billion in assets under management. Every action MHP takes — whether it’s a loan, grant, professional assistance, or development of a state or local policy — has the underlying goal of expanding housing opportunities for Massachusetts residents.

MHP’s community assistance team has helped cities and towns develop more than 5,000 affordable homes on donated public land and reached nearly every city and town in the Commonwealth with training, technical assistance, or staff support. Our rental financing team is a statewide leader in financing affordable rental housing and has financed the development and preservation of 33,500 apartments throughout the Commonwealth. Our homeownership team has partnered with banks and credit unions to finance 25,700 home purchases by low- and moderate-income first-time home buyers. Our housing data team built award-winning online tools that are helping cities and towns plan for housing growth, envision more inclusive communities, and comply with the MBTA Communities zoning law.

MHP is a proven leader and innovator that values:

• Equity – Housing must be available on an equitable basis for people at every income level throughout the Commonwealth. MHP devotes special attention to those who have been structurally excluded from homeownership by prior federal, state and local policy.
• Innovation – Housing production and preservation must meet the Commonwealth\'s current and future needs. MHP values experimentation, collaboration, and innovative solutions to close the gap between our housing needs and the supply and cost of housing.
• Sustainability – Our efforts to produce and preserve housing must be designed to confront the climate crisis. MHP is committed to the expansion of housing options in ways that are environmentally responsible and sustainable at scale.
• Community – Every city and town must facilitate an ample supply of housing that serves a wide range of households and creates an inclusive, successful, and thriving community. MHP fosters community engagement and empowers deeper civic leadership to break down local barriers to housing production.

The Role

Location: Boston, Massachusetts (Hybrid)

Reports to: Executive Director

Direct Reports: Director of Finance, Human Resources Director, Director of Engagement & Inclusion, Director of IT, Chief Accountant & Treasury Manager, and F&A Executive Assistant

Reporting to the Executive Director (ED) and serving as a member of the five-person Steering Committee, the Chief Financial & Operating Officer (CFOO) will succeed a long-tenured and well-respected leader. The incoming CFOO will inherit an exceptional team of committed staff who are responsible for the operations of MHP. The CFOO will provide the strategic vision and valued perspective to the ED, Board, Steering Committee, and staff guiding MHP’s finance team and operations including HR, Engagement & Inclusion, IT, and Administration. The CFOO will lead the strategy to support complex and multi-faceted work and ensure that MHP has the infrastructure and systems in place to achieve its mission effectively, support sustainable growth, and mitigate risk in a time of transition and uncertainty.

MHP has experienced exceptional growth in a dynamic market and created a new strategic plan to deliver on its mission by investing its resources in evidence-based best practices and evidence-generating investments that increase equitable access to homes in thriving communities. MHP learns from those investments to better understand what further innovations and system changes are needed to accelerate housing solutions for the Commonwealth.

MHP delivers on its mission by focusing on three strategic pillars: Supportive Environment : Building a state and local environment that expands housing opportunity and supports housing production at a scale commensurate with the Commonwealth’s needs. Effective Financing : Providing financing products and promoting partnerships that expand housing supply and equitable access to housing. Healthy Organization : Ensuring that MHP is a strong and resilient organization. The F&O team play a pivotal role in refining and executing on the third strategic pillar, as well as supporting the MHP team to deliver on the first two strategic pillars.

This CFOO role offers an exceptional opportunity to join a preeminent leader in affordable housing and play a pivotal role in ensuring MHP remains a strong, resilient organization – one that can sustain and strengthen its current operations and make a tangible difference in the lives of thousands of families across Massachusetts. As a trusted advisor to the ED and Board and as a member of the Steering Committee, the CFOO will help shape and execute MHP’s strategic vision, driving operational and financial strategies that support innovation, expand impact, and secure the organization’s long-term success.

Compensation

• The budgeted compensation for this role is $220,000 to $230,000. The listed range is just one component of MHP\'s total compensation package. Any final offer will be based on various factors including job-related knowledge, skills, competencies, and experience.
• MHP is an equal opportunity employer and is committed to creating an inclusive environment for all employees. MHP does not make hiring decisions based on age, race, gender, religion, disability, or any other characteristic protected by applicable law.

Key Responsibilities

• Leadership and Strategy
• Regularly assess organizational performance against the annual budget and financial forecasts; provide strategic recommendations to the ED and Steering Committee based on financial analysis and projections and revenue/expense analysis and make recommendations on financial strategy and business goals.
• Provide strategic and people-centered leadership by empowering and managing direct reports, aligning goals with organizational priorities, delivering clear and data-driven feedback, and fostering professional growth and succession readiness.
• Steward resources at MHP; ensure that operational infrastructure is in place to achieve current priorities and can sufficiently adapt to changing programs; proactively provide strategic recommendations to the ED and Steering Committee on resource management and needs.
• Balance all financial, operational, and talent functions to deliver on what MHP needs today and into the future.
• Regularly undertake nuanced business modeling, planning and stress testing; and align resources to meet agreed upon organizational objectives.
• Oversee short-term and long-term budgetary planning and resource management in alignment with MHP’s strategic plan; identify opportunities for revenue maximization and expense minimization and secure funding where appropriate and as opportunities arise.
• Partner, educate and inform the Board regarding ongoing financial results, operational effectiveness, and staff engagement. Generate reports and develop tools to provide critical financial, operational, and staff information to the ED, Steering Committee, and the Board.
• Actively contribute strategic insight and recommendations to MHP internal committees including the Steering Committee, Business Strategy Working Group, Investment Committee, Project Review, and Quarterly Performance Review.
• Ensure that MHP’s programs and initiatives are operating in accordance with MHP policies and procedures. Regularly review and update processes as MHP’s needs and resources change over time.
• Collaborate with financial institutions, key city, state and federal government partners, and philanthropic organizations.
• Monitor financial performance and make recommendations to ensure MHP’s financial stability in unrestricted net assets. Oversee MHP’s annual budget, endeavor to maximize income, manage costs, and secure funding where appropriate and as opportunities arise.
• Ensure MHP maintains current and accurate financial records, has sound documented financial and internal controls, and meets its debt service and other financial obligations on a timely basis and in accordance with loan agreements and other contractual agreements.
• Ensure timely and accurate financial reporting is provided to the Board, ED, Steering Committee, and senior managers.
• Liaise with external auditors; communicate regularly with the Audit and Risk Management Committee; assess and implement any necessary GASB standards, systems and reporting changes.
• Continuously develop and improve financial systems, internal controls and reporting.
• Oversee cash flow and investments, including banking and investment relationships, to ensure appropriate cash balances are maintained and investment returns are maximized.
• Manage the relationship with MHP’s investment advisor and work with the portfolio manager to maximize returns on the professionally managed fixed income portfolio.
• Monitor and report on aggregated quarterly investment returns which includes a fixed-income portfolio, loan participation, cash, and MHP owned balance sheet loans.
• Work with the finance staff to ensure that investments and balance sheet loans are laddered to maximize return and meet cash requirements.
• Operations and Systems
• Provide strategic leadership for all organizational operations and systems, including management and adjustment of IT systems and operational processes.
• Oversee and support the IT Director in:
• developing and implementing IT strategies that support and optimize MHP growth, cybersecurity, and program effectiveness.
• developing and implementing technology solutions and continuous improvement of IT infrastructure, business systems, and user support to ensure a consistent, reliable, and secure environment.
• driving the effective use of IT across the organization by ensuring that employees at all levels are trained and supported in fully leveraging available tools and systems to enhance productivity, communication, and collaboration.
• In conjunction with the IT Director, external vendors and consultants, capitalize on AI as a strategic and operational tool to enhance efficiencies, deepen cross-functional work and communication, and further promote data-driven decision-making and innovation.
• Support the IT team in educating non-technical stakeholders on AI capabilities and limitations, while leading change management efforts to address concerns, reduce resistance, and build adoption.
• Ensure the development, effective implementation and adoption, and maintenance of a robust contract management system that supports contractual compliance, operational efficiency, accurate invoicing, and strategic decision-making.
• Provide financial oversight and review of contracts to ensure alignment with MHP’s budget and fiscal policies, risk management standards, and organizational priorities prior to approval.
• Invest in continuous improvements in systems and practices that increase efficiency, effectiveness, and enable MHP to better utilize business intelligence.
• Strengthen decision-making processes to ensure MHP takes well informed, calculated risks in all areas of operations.
• Ensure MHP has systems and procedures in place to maintain compliance with state and federal requirements, to properly manage organizational risk and to support effective program implementation.
• Oversee management of MHP’s office space including leases, broker relationships, and make recommendations to the ED on lease options.
• Explore options for current or new office space when existing lease expires and how this might affect hybrid scheduling model.
• Human Resources & People Operations
• Partner with the HR Director to:
  • Ensure organizational capacity by aligning staffing and HR planning with current priorities, new program demands, and future operational needs.
  • Ensure HR policies are equitable and foster retention of top talent.
  • Review bi-annual third-party market compensation analysis and the pay equity analysis. Present recommendations for alignment to the ED, Steering Committee, and HR & Compensation Committee.
  • Collaborate and advise the HR Director on MHP benefits, benefit enhancements, and policies.
  • Oversee annual variable compensation recommendations, merit increases, salary adjustments, and promotions to the Executive Director, HR & Compensation Committee, and Board.
  • Collaborate with legal counsel and retirement plan professionals to cover plan compliance, employee education, and communicate available options.
  • Advise HR Director, ED, and staff on retirement plan options, alternatives, and investments offered.
• Support the Director of Engagement and Inclusion in:
  • Creating and executing strategies designed to enhance staff engagement and cultivate a sense of belonging.
  • Acting as a sounding board when analyzing the data from belonging surveys and making recommendations that will address findings.
  • Providing support and resources necessary in achieving fiscal year priorities, including codifying equity and inclusion policies and norms through KPIs and organizational learning and training.
• Develop and mention staff in goal setting, problem solving, resource management and outcome achievement.
• Provide leadership in employment decisions, ensuring accountability for performance and compliance with organizational standards and effectiveness.
• Manage MHP’s corporate insurance program, renewals, and ensure that MHP is appropriately insured and that the program is cost effective.

Education

• Bachelor’s degree required, preference for a master’s degree in a related field (e.g., finance, accounting, public administration, business administration) or equivalent knowledge, skills, and experience.

Travel

• Travel throughout Massachusetts will occasionally be expected.

To learn more about this opportunity, please contact:

Janet Albert, Partner, Bridge Partners and Neeta Mehta, Partner, Bridge Partners

Candidates will be considered on a rolling basis.

We urge your prompt consideration of this impactful leadership role.