Accounting

Opportunity Finance Network; New Brunswick (NJ); On-site; USD 140,000 - 160,000; Full time

Job summary

New Jersey Community Capital, a nonprofit CDFI, is seeking a Controller to lead accounting, financial reporting, audits, tax, and compliance for the organization and affiliated entities. The role oversees monthly closes, GAAP compliance (ASC 958), and lender/investor reporting, working closely with the CFO and executive team.

The ideal candidate has 8–10+ years of progressive nonprofit/financial management, strong Excel skills, and experience with real estate and tax-credit accounting, Single

Qualifications

• Bachelor’s degree in accounting or finance required.
• 8-10+ years of progressive accounting and financial management experience, including 3-5 years in a supervisory role.
• Nonprofit, CDFI or financial institution experience strongly desired; strong knowledge of U.S. GAAP and nonprofit accounting (ASC 958) required.
• Experience with loan portfolio accounting, including CECL, loan servicing reconciliations and lender/investor reporting.
• Experience with federal grants compliance (Uniform Guidance, Single Audit) and CDFI Fund certification and reporting strongly preferred.
• Experience leading external audits and managing tax filings and consolidations for multiple entities; NMTC or real estate/tax‑credit accounting is a plus.
• Experience with property management accounting for residential and/or mixed‑use real estate (rent roll, receivables, security deposits, reserves and escrows, property‑level reporting), preferably including affordable housing and subsidy compliance.
• Experience with construction and development accounting, including job‑cost tracking, draw requests, retainage, capitalization of project costs, cost certifications and construction lender/investor reporting.

Responsibilities

• Lead annual financial statement audits and coordinate with external auditors.
• Oversee Single Audit readiness and tax filings.
• Oversee year-end accounting for real estate and project entities, including depreciation and cost certifications.
• Oversee tax and regulatory filings and lender/investor reporting.
• Lead the annual budget process and ensure GAAP compliance (ASC 958).
• Manage and develop the accounting team; partner with CFO on financial strategy.

Skills

Leadership

Financial analysis

GAAP knowledge

Excel proficiency

Communication skills

Education

Bachelor’s degree in accounting or finance

Tools

Financial Edge

Yardi

Salesforce

Excel

Job description

Founded in 1987, New Jersey Community Capital is a nonprofit community development financial institution that provides innovative financing and technical assistance to foster the creation of quality homes, educational facilities, and employment opportunities in underserved communities of New Jersey. New Jersey Community Capital has become a leading innovator of strategies to propel foreclosure crisis recovery, including the large-scale acquisition and rehabilitation of abandoned properties and the bulk-purchase and modification of large pools of nonperforming mortgages. We provide portfolio management, financial training, research sponsorship, and policy advocacy in order to advance community development in New Jersey.

Summary

Reporting directly to the Chief Financial Officer, the Controller is the senior accounting and financial reporting leader for New Jersey Community Capital (NJCC), a nonprofit Community Development Financial Institution (CDFI), and its consolidating and non-consolidating affiliated entities, including entities with external partners. The Controller is responsible for the accuracy and timeliness of all accounting, financial reporting, audit, tax and compliance functions; owns the monthly close and internal control environment; oversees loan portfolio accounting and CDFI Fund, the real estate portfolio (including property management and construction/development accounting) and lender/investor reporting; leads the accounting team; and partners with the CFO and executive leadership on financial strategy.

Responsibilities

Leadership & Management

• Lead, mentor and develop the accounting team (e.g., Assistant Controller, Senior Accountants); set priorities, review work product and manage performance.
• Partner with the CFO on financial strategy, budgeting, forecasting and liquidity; present financial analysis to the executive team and Board committees (e.g., Finance, Audit).

Annually

• Lead the annual financial statement audit for NJCC and non-consolidating entities as primary liaison with external auditors; fulfill audit requests, prepare responses to financial statement questions and oversee GAAP-compliant financial statements and footnotes (ASC 958).
• Oversee Single Audit readiness, as applicable.
• Oversee year-end accounting for the real estate portfolio and project-level entities, including capitalization versus expense of development and construction costs, depreciation, impairment review, and consolidation determinations; support property-level and partnership audits and cost certifications.
• Oversee accounting and reporting for tax‑credit and real estate partnerships (e.g., LIHTC, NMTC, historic tax credits), including equity‑method accounting, allocations, investor reporting and coordination of partnership tax returns with outside advisors, as applicable.
• Oversee tax and regulatory filings with outside advisors and ensure proper completion of annual tax reporting.
• Lead the annual budget process and CDFI Fund certification and reporting (Annual Certification Report, Institution Level Report, Transaction Level Report).
• Review and approve the annual allowance for credit losses.
• Provide budget‑to‑actual variance analysis and explanations to the CFO, management, and the Board.
• Prepare and review covenant compliance and lender/investor reports, including portfolio performance, delinquency and loan loss reserves.
• Review balance sheet reconciliations, including equity accounts and net assets, to ensure all balances are valid, and monitor and follow up on open receivables, including Property Management fees.
• Review expenditures, match and compliance requirements for federal, state and other awards (including CDFI Fund and other grants).
• Review construction‑in‑progress and development project cost reports, including budget‑to‑actual, contingency, change orders, retainage, capitalized interest and soft costs, and sources‑and‑uses; ensure costs are properly classified and supported.
• Review property‑level financial statements and operating reports (owned and managed properties), including replacement and operating reserves, tax and insurance escrows, debt service coverage and lender/investor covenant calculations.

Monthly

• Own the monthly close; analytically review entity balance sheets and income statements.
• Ensure accuracy of intercompany accounts; review bank reconciliations and loan sub‑ledger to general ledger reconciliations.
• Review and approve journal entries within the accounting system and ensure their accuracy, including loan, interest, fee and debt‑related accruals.
• Oversee property management accounting in Yardi: rent roll and receivables aging, tenant security deposits, subsidy and tenant receipts, property management and asset management fees, and reconciliation of property sub‑ledgers and bank/escrow accounts to the general ledger.
• Oversee construction accounting: review and approve construction draw requests and project payables, retainage and lien waivers, accruals for work in place, and reconciliation of construction loan balances and interest reserves; ensure costs are coded to the correct project and entity.

Ongoing

• Maintain strong internal controls and written policies; ensure compliance with current accounting standards, including ongoing accuracy of lease accounting under the new standard.
• Work closely with other departments to ensure Yardi sub‑ledger reporting (rental income, receivables, rent roll, escrow balances) is accurate and agrees to the financial reporting system.
• Partner with Real Estate Development, Asset Management, Property Management and Lending on project budgets, developer and other fees, closings, draw schedules and project close‑out so that accounting treatment is accurate and consistent with GAAP and funder requirements.
• Support treasury, cash flow forecasting, debt management, and new financing structures (e.g., NMTC), as applicable.
• Manage and optimize accounting and loan management systems (Financial Edge, Yardi, Salesforce, and Benedict).
• Provide timely, accurate reporting to external parties, including lenders, investors, funders, regulators, and the CDFI Fund.
• Support Financial Management colleagues; interact often with other business areas and external parties while performing responsibilities; complete or assist with ad hoc and one‑off projects and perform other related duties as assigned.

Work Schedule

This job’s primary responsibilities are expected to be handled during regular business hours Monday through Friday 9:00 AM to 5:00 PM or adjusted as agreed by employee and supervisor. Some tasks may need to be completed outside of regular business hours or on the weekends.

Physical Demands

This is largely a sedentary role; however, physical ability may be required. This would be restricted to those needed in an office space including working with files, filing cabinets, and general office supplies/items. Standing will be required as needed.

This job operates in a professional office setting with moderate notice and many unscheduled interruptions. Sitting for long periods of time is typically in this position but brief periods of walking or standing may occur. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinet and fax machines.

This organization is fully committed to equal employment opportunity, maximum utilization of all employees, and employment and advancement regardless of race, color, creed, religion, sex, age, sexual orientation, national origin, disability, veteran status or any other characteristic protected by state, federal or local law. Discrimination of any type will not be tolerated.

Other Duties and Functions

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

Requirements

• Bachelor’s degree in accounting or finance required
• 8-10+ years of progressive accounting and financial management experience, including 3-5 years in a supervisory role.
• Nonprofit, CDFI or financial institution experience strongly desired; strong knowledge of U.S. GAAP and nonprofit accounting (ASC 958) required.
• Experience with loan portfolio accounting, including CECL, loan servicing reconciliations and lender/investor reporting.
• Experience with federal grants compliance (Uniform Guidance, Single Audit) and CDFI Fund certification and reporting strongly preferred.
• Experience leading external audits and managing tax filings and consolidations for multiple entities; NMTC or real estate/tax‑credit accounting is a plus.
• Experience with property management accounting for residential and/or mixed‑use real estate (rent roll, receivables, security deposits, reserves and escrows, property‑level reporting), preferably including affordable housing and subsidy compliance.
• Experience with construction and development accounting, including job‑cost tracking, draw requests, retainage, capitalization of project costs, cost certifications and construction lender/investor reporting.
• Demonstrated ability to supervise and develop a team and build strong relationships with the CFO, executive staff, Board members, auditors, lenders, and investors.
• Advanced Excel and Microsoft Office proficiency.
• Demonstrated ability to balance multiple tasks, collaborate with co‑workers, work well independently in a fast‑paced environment, prioritize and meet deadlines, and maintain discretion with confidential information.
• Strong written and verbal communication skills, including explaining complex financial information to non‑financial audiences; and excellent networking, relationship management, and customer skills.

Licenses & Certifications

Required

• Working knowledge of computerized accounting systems; Financial Edge, Yardi and/or Salesforce
• Compliance with continuing professional education (CPE) requirements needed to maintain licensure.
• Satisfactory background and credit check and eligibility for coverage under NJCC’s fidelity bond and insurance policies.

Preferred

• Active Certified Public Accountant (CPA) license in good standing
• Additional certifications such as CGMA, CMA or CFE.
• Experience with affordable housing and tax‑credit transactions (LIHTC, NMTC, historic tax credits), including investor and syndicator reporting and cost certification audits.
• Training or experience in federal grants compliance (Uniform Guidance), CDFI Fund compliance or NMTC accounting.

Note

• The Controller must comply with NJCC’s conflict‑of‑interest, confidentiality and code of conduct policies and applicable funder requirements.

Compensation and Benefits

$140,oo0 – $160,000