Assistant Controller, LIHTC

$110,000 - $120,000/Yr

Enterprise Community Partners - Columbia, MD

Full-time - Mid Level

Columbia, MD

About the position

Enterprise is a national nonprofit that exists to make a good home possible for the millions of families without one. We support community development organizations on the ground, aggregate and invest capital for impact, advance housing policy at every level of government, and build and manage communities ourselves. Since 1982, we have invested $54 billion and created 873,000 homes across all 50 states - all to make home and community places of pride, power and belonging. The Fund Investment Reporting and Management (FIRM) team is responsible for the management, accounting, and reporting for Low Income Housing Tax Credit (LIHTC) equity funds and Real Estate Equity funds. This position is responsible for preparation and analysis of operating results for financial reporting for assigned funds in accordance with generally accepted accounting principles (or other basis of reporting, e.g. tax basis, as necessary) to management, investors and regulatory agencies, budgeting, forecasting, modeling, review of entity tax returns and maintaining professional relationships and communication with colleagues, internal stakeholders, investors, partners, third-parties, auditors and regulatory agencies.

Responsibilities

• Obtain appropriate understanding of the business/fund structure necessary for the preparation and analysis of results and communications with investors, partners and auditors.
• Review, evaluate and summarize terms and conditions of operating and other agreements of assigned funds and ensure Enterprise enforces its rights and meets its obligations.
• Maintain general ledgers, supporting schedules, journal entries and workpapers in accordance with Generally Accepted Accounting Principles and Partnership Agreements.
• Create and maintain financial models incorporating the forecasts of investor pay-ins, tax credits and tax losses; this could include supporting the process of creating hypothetical models under the supervision of a director.
• Manage fund sources, uses and timing of cash activity.
• Be the team lead on the year end audit delivery and attendance at associated meetings.
• Prepare and review quarterly equity fund financial statements and investor benefit schedules, supporting schedules, journal entries, and analysis, with GAAP to tax variance analysis of operating partnerships annual income.
• Prepare and review annual equity fund tax returns and fund audits, ensuring all information is completed timely and accurately.
• Support the line of business by providing information and analysis relevant to decision-making including the monitoring and evaluation of key metrics, performance indicators and risks.
• Create and ensure distribution of related investor reports.
• Interact with Enterprise staff, investors, and external auditors to provide accurate and timely financial information; this includes being the primary contact for some investors on capital call and benefit schedule questions.
• Facilitate the coordination of investor reporting between FIRM, Capital Markets and Asset Management, and identify and implement strategies to more effectively and efficiently meet increasing investor demands.
• Design, implement and maintain policies and procedures in support of internal controls over financial reporting, ensuring that accounting procedures and related documentation are designed so that internal controls are effective and functioning.
• Evaluate and implement efficient and effective processes, increasing cross-training and consistency and leveraging technology to increase automation and decrease manual effort on routine activities.
• Proactively demonstrate leadership qualities such as collaboration, initiative, innovation, problem-solving, accountability, planning and setting goals, and personal development.
• Assist the Director in leading the FIRM department to meet the goals of the department and of the larger finance organization.
• Direct and review staff work and promote growth as applicable.
• Complete other duties and projects as assigned.

Requirements

• Bachelor's degree in Accounting, Finance or equivalent is required; CPA and or advanced degree is preferred.
• 5-7 years accounting/finance experience preferred.
• Must possess strong financial, analytical, organizational, and quantitative skills, and ability to coordinate complex activities, prioritize conflicting demands and meet deadlines with a quality, accurate work product.
• Must be highly motivated, be able to work independently and possess strong written and oral communication skills, with the ability to communicate effectively at all levels.
• Knowledge of generally accepted accounting principles (GAAP) is required.
• Excellent computer skills, particularly with Excel, are required.

Nice-to-haves

• Supervisory experience preferred but not required.
• Public accounting experience and knowledge of real estate analysis/forecasting or partnership LIHTC tax preferred.
• Experience with financial modeling preferred.
• Experience with Workday is desirable.
• Experience in accounting and analysis related to real estate/LIHTC partnerships is preferred, and knowledge of NPV and IRR are a plus.
• Particular expertise with fund taxation a significant plus.

Benefits

• Dental, health, and vision care plans.
• Family-building benefits, such as fertility, adoption, surrogacy support, and gender-affirming care.
• Flexible work arrangements to promote a better work-life balance.
• Health advocacy, EAP, and mental health benefits.
• Financial education, wellness programs, and auto-enrollment in the company's 401(k) plan with employer matching contributions.
• Learning and development opportunities, including tuition reimbursement for job-related courses and certifications.