Chief Financial Officer at HOUSING FORWARD – Maywood, Illinois

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

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 Transactions

• Develop and maintain compliant cost allocation plans and indirect cost methodologies applicable across multiple entities.
• Oversee intercompany billing, shared services agreements, and management fees in compliance with Uniform Guidance and GAAP.
• Ensure appropriate documentation and approvals for transactions between the nonprofit and affiliated LLCs.
• Monitor reasonableness and allowability of costs charged across entities.

Audit, Risk Management & Internal Controls

• Serve as primary liaison to external auditors, tax advisors, and legal counsel.
• Lead annual financial audits, Single Audits, and any entity-specific audits or lender reviews.
• Oversee preparation and filing of Form 990, Form 990-T, and applicable LLC tax filings.
• Ensure strong internal controls across all entities to safeguard assets and public funds.
• Lead corrective action planning related to audit findings or compliance reviews.

Leadership & Organizational Partnership

• Lead, mentor, and develop a finance team capable of supporting a multi-entity, publicly funded organization.
• Foster strong collaboration with Programs, Compliance, Grants, Development, and Operations teams.
• Build financial literacy among leadership and managers across the nonprofit and affiliated entities.
• Promote transparency, accountability, and ethical stewardship of public and private resources.

QUALIFICATIONS & EXPERIENCE:

Required

• Bachelor’s degree in Finance, Accounting, Business Administration, or related field.
• Minimum of 10 years of progressive financial leadership experience, including oversight of complex, multi-entity organizations.
• Demonstrated experience managing federal, state, and local funding, including reimbursement-based contracts.
• Deep working knowledge of 2 CFR Part 200 (Uniform Guidance).
• Proven experience leading Single Audits and consolidated audits.
• Experience with Sage Intacct, including multi-entity and dimensional reporting.

Preferred

• CPA, CMA, or MBA.
• Experience with HUD, VA, and Illinois state funding.
• Experience with affordable housing, property-owning LLCs, or special purpose entities.
• Knowledge of nonprofit tax and compliance requirements related to affiliated entities.

Core Competencies

• Enterprise-wide financial strategy
• Multi-entity accounting and consolidation
• Budgeting, forecasting, and cash flow management
• Public-sector compliance (2 CFR 200)
• Systems leadership (Sage Intacct)
• Executive and board communication

PHYSICAL REQUIREMENTS:

• While performing the essential duties of this job, the employee is required to sit and stand for sustained periods of time, frequently talk, hear, use hands and fingers to feel, handle and operate objects or controls, and occasionally stand, bend, stretch, stoop, kneel, crouch, and walk up and down stairs.
• The employee is required to have close visual acuity to perform an activity such as preparing and analyzing data and figures, transcribing, and viewing a computer terminal.
• The employee may occasionally lift and/or move up to 25 pounds.

American with Disabilities Act (ADA) Statement: External and internal applicants, as well as position incumbents who become disabled, must be able to perform the essential job specific functions (listed within each job responsibility) either unaided or with the assistance of a reasonable accommodation to be determined by the organization on a case-by-case basis.

Housing Forward does not discriminate on the basis of race, color, religion, sex, citizenship, ethnic or national origin, age, disability, medical status, military status, veteran status, marital status, sexual orientation, gender identity or expression, genetic information, ancestry, or any legally protected status. This policy applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, recall, leave of absence, compensation, benefits and training. All qualified applicants will receive consideration for employment without regard to race, ethnicity, religion, sexual orientation, veteran status, national origin, or disability.

Job descriptions are not intended and should not be construed to be all-inclusive lists of all responsibilities, skills, efforts or working conditions associated with a job. While this job description is intended to be an accurate reflection of the job requirements, management reserves the right to modify, add or remove duties from particular jobs and to assign other duties, as necessary. This job description does not constitute a written or implied contract of employment.