Housing Authority of the City of Milwaukee
Chief Financial Officer (Milwaukee)
Housing Authority of the City of Milwaukee, Milwaukee, Wisconsin, United States, 53244
Housing Authority of the City of Milwaukee (HACM)
Location:
Milwaukee, WI
Reports to:
Secretary-Executive Director
FLSA:
Exempt
Status:
Full-time Position Summary
The Chief Financial Officer (CFO) is a key member of the Housing Authority of the City of Milwaukees (HACM) executive leadership team and supports the Executive Director by providing strategic and organizational leadership in all areas of financial management and ensure the financial sustainability of the organization. HACM currently assists 10,779 households and more than 20,000 residents across its portfolio. That includes approximately 2,322 public housing units, 5,482 housing choice vouchers, 1,996 other affordable housing units (LIHTC (including Project-based voucher units), and 979 market-rate units. HACM is currently operating under a HUD Public Housing Recovery Agreement and Sustainability Plan, positioning its next CFO to work with the Secretary-Executive Director to drive transformation, accountability, and long-term financial resilience. The CFO is responsible for planning, implementing, and coordinating an effective financial management system for HACM, which includes, but is not limited to:strategic planning and accountability for fiscal and managerial results; preparing, managing and monitoring the Authority-wide budgets and financial performance;development or revision of financial policies and procedures; ensuring compliance with federal, state and local regulations; financial and resource management functions; risk management; management and oversight of the finance/accounting, procurement, and information technology departments; and preparation of regular and annual financial statements and reports. Key Responsibilities Strategic and Executive Leadership Supports the Executive Director in the development and execution of the agencys strategic plan, goals, and policy initiatives. Serve as a strategic advisor and operational leader and provides critical financial guidance on operational decisions, agency performance, and long-term sustainability. Oversees the implementation of corrective actions that are necessary for HACM to recover from Troubled status for both its Public Housing and Housing Choice Voucher programs, including those specified in the HUD Recovery Agreement and the Sustainability Plan or in Corrective Action Plans for the voucher program. People, Culture & Talent Supervise and lead finance and administrative staff, including prioritizing and assigning work; coordinating staff training; conducting performance evaluations; and coordinating hiring, disciplinary actions, and terminations. Oversee and manage procurement, information technology, and other administrative functions to enhance organizational effectiveness and efficiency, and ensure compliance with all federal, state and local regulations. Supervise financial and administrative staff, providing ongoing assistance and training/development to support a positive and productive working environment. Lead and develop finance and administrative staff in fostering a high-performing, collaborative, data-driven and accountable team culture that leads to the achievement of excellence and the implementation of best practices. Financial Operations Oversight Directs the overall financial policies and accounting practices of HACM and any instrumentalities and other subsidiaries, ensuring fiscal responsibility, transparency, and accountability across all programs and ensuring appropriate internal controls are in place and are completed timely. Ensures that accounting and financial systems are maintained in accordance with Generally Accepted Accounting Principles (GAAP) as well as with HUD guidance and regulations. Develop and oversee the annual budget and long-term financial plans, ensuring proper allocation of resources to meet operational and strategic objectives. Monitor and manage the financial health of the Housing Authority, including evaluating funding strategies, assessing financial risks, and ensuring compliance with regulatory requirements. Oversees the research and contracting for the full range of the Agencys insurance needs and risk management strategies to protect organizational assets and ensure compliance with federal, state and local regulations. Work with other departments on capital planning and obligation/expenditures for capital items. Manage treasury functions, banking relationships, and investment strategies to prudently steward public resources. Establishes, directs and monitors the Agencys cash management activities to effectively manage cash flows and balances, provide financial forecasts, and ensure sufficient cash to meet immediate needs; identify opportunities for cost efficiencies or revenue generation; and review appropriate investment strategies. Oversee drawdowns of federal funds, fund transfers, and maintain general ledgers and bank accounts required for each program in accordance with Federal, state, or local requirements. Partner with Development and Asset Management teams to optimize the performance of our housing portfolio and ensure adequate cash flow and liquidity. Ensures compliance with all U.S. Department of Housing and Urban Development (HUD) regulations, Low Income Housing Tax Credit (LIHTC) regulations, other federal, state and local laws, and agency policies across all departments. Development, Real Estate & Portfolio Transformation Advance the Choice Neighborhood Initiative (CNI) transformation plan and other revitalization initiatives; structure repositioning transactions (e.g., LIHTC, RAD/Section 18, mixed-finance, etc.) with public/private/philanthropic partners. Work with financial advisors on financial modeling and structuring financing for complex affordable housing transactions, utilizing repositioning tools like LIHTC, RAD, Section 18, etc. Financial and Compliance Reporting and Audits Ensure timely and accurate reporting requirements are met for HUD, Wisconsin Housing and Economic Development Authority (WHEDA), investors, and other funding sources/partners. Provides regular monthly financial reports and statements to the Executive Director, Board of Commissioners, and external stakeholders such as HUD, Wisconsin Housing and Economic Development Authority (WHEDA), and Low-Income Housing Tax Credit (LIHTC) investors/partners regarding the financial condition of HACM and its related instrumentalities and LLCs. Coordinates the annual independent financial audits, and other third-party monitoring reviews and audits in a timely and well-organized manner. Assists with the preparation, review, analysis and transmittal of PHAS information throughout the year and at the end of the fiscal year. Drive accountability for achieving and maintaining high performance on key federal metrics, including PHAS (Public Housing) and SEMAP (Section 8), especially on financial assessment indicators. Community and Stakeholder Engagement & External Affairs Work as the primary liaison with external auditors, banks, financial institutions and regulatory agencies to ensure compliance and financial best practices. Represent HACM in meetings with HUD, WHEDA, local government, investors, donors, residents, resident organizations, neighborhood groups, media, and other partners. Facilitate investor, lender, and state housing agency relations and coordinate communications with the various partners regarding LIHTC development finances. Communicates and coordinates accounting and procurement policies, practices and procedures, reports and audit findings with other departments, vendors, reporting agencies, partners, clients and the public. Minimum Qualifications Education and Experience:
Bachelors degree in Accounting, Finance, or a related field; 8 to 10 years of progressively responsible experience in financial management, preferably within public housing authorities, government agencies, or nonprofit organizations; or an equivalent combination of education and experience to successfully perform the essential duties of the job. Certification: Certified Public Accountant (CPA) certification Technical Expertise: Demonstrated proficiency with HUD financial regulations in Public Housing, HCV/Section 8, affordable housing (LIHTC, mixed finance) Some knowledge of asset repositioning tools (RAD; Section 18; etc.) preferred oHigh level of proficiency in financial software, accounting systems, and Microsoft Office software Other:
Valid drivers license Core Competencies Financial & Regulatory Acumen:
Excellent knowledge of HUD/LIHTC regulations and accounting for housing programs. Proven experience in budgeting, financial reporting, grants management, and regulatory compliance. Integrity and Trust: Leads with honesty, transparency, and consistency; builds trust across all levels of the organization and with external partners. Strategic Execution:
Provides strategic and operational leadership over finance via measurable plans with budgets. milestones, and accountability. People Leadership:
Values professionalism and teamwork; coaches staff to ensu
Milwaukee, WI
Reports to:
Secretary-Executive Director
FLSA:
Exempt
Status:
Full-time Position Summary
The Chief Financial Officer (CFO) is a key member of the Housing Authority of the City of Milwaukees (HACM) executive leadership team and supports the Executive Director by providing strategic and organizational leadership in all areas of financial management and ensure the financial sustainability of the organization. HACM currently assists 10,779 households and more than 20,000 residents across its portfolio. That includes approximately 2,322 public housing units, 5,482 housing choice vouchers, 1,996 other affordable housing units (LIHTC (including Project-based voucher units), and 979 market-rate units. HACM is currently operating under a HUD Public Housing Recovery Agreement and Sustainability Plan, positioning its next CFO to work with the Secretary-Executive Director to drive transformation, accountability, and long-term financial resilience. The CFO is responsible for planning, implementing, and coordinating an effective financial management system for HACM, which includes, but is not limited to:strategic planning and accountability for fiscal and managerial results; preparing, managing and monitoring the Authority-wide budgets and financial performance;development or revision of financial policies and procedures; ensuring compliance with federal, state and local regulations; financial and resource management functions; risk management; management and oversight of the finance/accounting, procurement, and information technology departments; and preparation of regular and annual financial statements and reports. Key Responsibilities Strategic and Executive Leadership Supports the Executive Director in the development and execution of the agencys strategic plan, goals, and policy initiatives. Serve as a strategic advisor and operational leader and provides critical financial guidance on operational decisions, agency performance, and long-term sustainability. Oversees the implementation of corrective actions that are necessary for HACM to recover from Troubled status for both its Public Housing and Housing Choice Voucher programs, including those specified in the HUD Recovery Agreement and the Sustainability Plan or in Corrective Action Plans for the voucher program. People, Culture & Talent Supervise and lead finance and administrative staff, including prioritizing and assigning work; coordinating staff training; conducting performance evaluations; and coordinating hiring, disciplinary actions, and terminations. Oversee and manage procurement, information technology, and other administrative functions to enhance organizational effectiveness and efficiency, and ensure compliance with all federal, state and local regulations. Supervise financial and administrative staff, providing ongoing assistance and training/development to support a positive and productive working environment. Lead and develop finance and administrative staff in fostering a high-performing, collaborative, data-driven and accountable team culture that leads to the achievement of excellence and the implementation of best practices. Financial Operations Oversight Directs the overall financial policies and accounting practices of HACM and any instrumentalities and other subsidiaries, ensuring fiscal responsibility, transparency, and accountability across all programs and ensuring appropriate internal controls are in place and are completed timely. Ensures that accounting and financial systems are maintained in accordance with Generally Accepted Accounting Principles (GAAP) as well as with HUD guidance and regulations. Develop and oversee the annual budget and long-term financial plans, ensuring proper allocation of resources to meet operational and strategic objectives. Monitor and manage the financial health of the Housing Authority, including evaluating funding strategies, assessing financial risks, and ensuring compliance with regulatory requirements. Oversees the research and contracting for the full range of the Agencys insurance needs and risk management strategies to protect organizational assets and ensure compliance with federal, state and local regulations. Work with other departments on capital planning and obligation/expenditures for capital items. Manage treasury functions, banking relationships, and investment strategies to prudently steward public resources. Establishes, directs and monitors the Agencys cash management activities to effectively manage cash flows and balances, provide financial forecasts, and ensure sufficient cash to meet immediate needs; identify opportunities for cost efficiencies or revenue generation; and review appropriate investment strategies. Oversee drawdowns of federal funds, fund transfers, and maintain general ledgers and bank accounts required for each program in accordance with Federal, state, or local requirements. Partner with Development and Asset Management teams to optimize the performance of our housing portfolio and ensure adequate cash flow and liquidity. Ensures compliance with all U.S. Department of Housing and Urban Development (HUD) regulations, Low Income Housing Tax Credit (LIHTC) regulations, other federal, state and local laws, and agency policies across all departments. Development, Real Estate & Portfolio Transformation Advance the Choice Neighborhood Initiative (CNI) transformation plan and other revitalization initiatives; structure repositioning transactions (e.g., LIHTC, RAD/Section 18, mixed-finance, etc.) with public/private/philanthropic partners. Work with financial advisors on financial modeling and structuring financing for complex affordable housing transactions, utilizing repositioning tools like LIHTC, RAD, Section 18, etc. Financial and Compliance Reporting and Audits Ensure timely and accurate reporting requirements are met for HUD, Wisconsin Housing and Economic Development Authority (WHEDA), investors, and other funding sources/partners. Provides regular monthly financial reports and statements to the Executive Director, Board of Commissioners, and external stakeholders such as HUD, Wisconsin Housing and Economic Development Authority (WHEDA), and Low-Income Housing Tax Credit (LIHTC) investors/partners regarding the financial condition of HACM and its related instrumentalities and LLCs. Coordinates the annual independent financial audits, and other third-party monitoring reviews and audits in a timely and well-organized manner. Assists with the preparation, review, analysis and transmittal of PHAS information throughout the year and at the end of the fiscal year. Drive accountability for achieving and maintaining high performance on key federal metrics, including PHAS (Public Housing) and SEMAP (Section 8), especially on financial assessment indicators. Community and Stakeholder Engagement & External Affairs Work as the primary liaison with external auditors, banks, financial institutions and regulatory agencies to ensure compliance and financial best practices. Represent HACM in meetings with HUD, WHEDA, local government, investors, donors, residents, resident organizations, neighborhood groups, media, and other partners. Facilitate investor, lender, and state housing agency relations and coordinate communications with the various partners regarding LIHTC development finances. Communicates and coordinates accounting and procurement policies, practices and procedures, reports and audit findings with other departments, vendors, reporting agencies, partners, clients and the public. Minimum Qualifications Education and Experience:
Bachelors degree in Accounting, Finance, or a related field; 8 to 10 years of progressively responsible experience in financial management, preferably within public housing authorities, government agencies, or nonprofit organizations; or an equivalent combination of education and experience to successfully perform the essential duties of the job. Certification: Certified Public Accountant (CPA) certification Technical Expertise: Demonstrated proficiency with HUD financial regulations in Public Housing, HCV/Section 8, affordable housing (LIHTC, mixed finance) Some knowledge of asset repositioning tools (RAD; Section 18; etc.) preferred oHigh level of proficiency in financial software, accounting systems, and Microsoft Office software Other:
Valid drivers license Core Competencies Financial & Regulatory Acumen:
Excellent knowledge of HUD/LIHTC regulations and accounting for housing programs. Proven experience in budgeting, financial reporting, grants management, and regulatory compliance. Integrity and Trust: Leads with honesty, transparency, and consistency; builds trust across all levels of the organization and with external partners. Strategic Execution:
Provides strategic and operational leadership over finance via measurable plans with budgets. milestones, and accountability. People Leadership:
Values professionalism and teamwork; coaches staff to ensu