Director, Subsidiary Finance

Full-time - Mid Level

Hybrid - New York City, NY

Executive, Legislative, and Other General Government Support

About the position

The Director of Subsidiary Finance is responsible for the financial oversight of all Empire State Development (ESD) Subsidiaries. This position will require in-office presence, although hybrid work schedules may be possible based on specific job duties and consistent with ESD policy. Minorities, women, and individuals with disabilities are encouraged to apply. Applicants must submit a cover letter with their resume to be considered.

Responsibilities

• Manage and direct Subsidiary Finance staff in the day-to-day financial oversight of ESD's Subsidiaries.
• Review and pre-approve funding sources and financial terms for all items slated for action/approval by the various Subsidiary Boards of Directors.
• Work with Contract Administration to review the validity of funding source(s) and other financial provisions for all Subsidiary funding agreements, major contracts, and development documents.
• Work with the accountants and Accounts Payable staff to verify coding and check status of payments.
• Review and manage monthly cash flow worksheets with Subsidiary Finance staff while coordinating and reconciling funding and account balances with the Subsidiaries' staff.
• Assist with the preparation of annual operating and capital budgets, including funding sources, with Sr. Director of Budgeting, Subsidiary Presidents and staff for presentation to their respective Boards.
• Analyze and review Budget Variance reports with the Sr. Director of Budgeting on a quarterly basis.
• Attend all Subsidiary Board meetings and relevant ESD Board meetings.
• Provide general business, financial assistance and payment status to the Subsidiaries, as needed.
• Serve as liaison between the Subsidiaries and ESD Finance on various financial issues, as needed.
• Review and approve all subsidiary payment requests under $50 thousand for payment processing.
• Special projects and assignments as requested by the Sr. Director of Budgeting.
• Serve as backup to the Sr. Director of Budgeting for final payment authorization approval(s).

Requirements

• Bachelor's degree in finance, accounting or related field.
• Minimum of 2 to 3 years of management experience in a relevant finance field (i.e., real estate finance, public finance, accounting, budgeting, etc.).
• Excellent oral and written communication skills.
• Superior analytical aptitude.
• Proficient in MS Office, especially Excel.
• Experience in creating and analyzing budgets and cash flow projections, reviewing financial statements, and interfacing with all levels of Management.
• Knowledge of PeopleSoft a plus.

Benefits

• Comprehensive Benefits Package.