The University Financing Foundation, Inc.
Job Description – Vice President of Finance
The University Financing Foundation, Inc. (TUFF) is a mission-driven developer that works with universities and research institutions to develop and acquire state-of-the-art buildings and vibrant communities where innovation and industry can thrive. A 501(c)(3) nonprofit, TUFF has over four decades of experience helping its clients achieve the best possible outcomes for their real estate and programming needs. Since 1982, TUFF has invested $3 billion and completed 79 projects serving over 100 institutions across the country.
The Vice President of Finance is accountable for the asset management of TUFF’s real estate portfolio, administrative, financial and risk management operations of the company, to include development of a financial and operational strategy, metrics tied to that strategy and the ongoing development and monitoring of control systems to preserve company assets and report accurate financial results. Responsibilities include oversight of TUFF’s daily compliance with all third-party obligations – obligations stemming from bond issues, commercial financings, lease obligations, facility ownership obligations and local governmental obligations. In addition, other administrative responsibilities including data communication and information technology, risk management, human resources services, banking relationships and accounting compliance are the responsibility of the Vice President of Finance. CPA is required.
The position reports to the Senior Vice President of Administration.
Specific responsibilities include:
Compliance
- Ensure compliance with all third-party obligations (Bank, Bond Trustees, etc.) as well as all legal and regulatory requirements
- Plan, develop and recommend new organizational policies and procedures to ensure compliance with all third-party obligations
- Ensure TUFF compliance with bond financing and tenant compliance with lease documents
- Review legal documents (i.e. bond documents, leases, etc.) and make recommendations for changes or considerations
- Monitor and track private business use activities generated in properties where tax-exempt financing is utilized
Budgeting and Forecasting
- Oversee budgeting and implementation of budgets
- Monitor compliance with budgets and report findings to Senior Vice President of Administration
- Manage cash flow forecasting
Accounting and Tax
- Ensure accounting staff maintains financial record systems in accordance with Generally Accepted Accounting Principles and monitor use of funds
- Ensure that record keeping meets the requirements of auditor and governmental agencies
- Oversee preparation of financial reporting materials
- Oversee audit and tax compliance activities
- Work with Controller to identify and resolve any accounting issues with independent auditors
- Perform periodic internal control checks and report findings and recommendations to Senior Vice President of Administration
- Remain up to date on best practices on nonprofit audits, private business use and other tax-exempt bond issues and state and federal laws possibly impacting the foundation including all post-issuance bond compliance
- Develop and implement strategies to monitor compliance with private operating foundation requirement
- Develop and monitor strategies to monitor and limit unrelated business income tax that TUFF may be subject to
Banking
- Develop and maintain banking relationships (Depository and lending)
Benefit Plan Administration
- Serve as fiduciary for benefit plans and oversee ongoing activities and compliance including recommendation of investment alternatives
- In conjunction with legal counsel, ensure best practices are followed including annual review of service provider performance and periodic RFP processes
Risk Management
- Understand and mitigate key elements of TUFF’s risk profile
- Monitor all open legal issues involving TUFF, and legal issues affecting the industry
- Construct and monitor reliable control systems
- Manage insurance agent relationship and maintain appropriate insurance coverage
- Manage resolutions of insurance claims and coverage issues with insurance company, agent and lessees
- Report risk issues with the Senior Vice President of Administration
Information Technology
- Periodically review technological needs and make recommendations for any changes
Business Administration
- Manage daily activity in office
- Stay current on external issues that may impact TUFF including financing environment, IRS initiatives, general economic and industry issues and bring significant issues to the attention of the Senior Vice President of Administration
- Work with Senior Vice President of Administration on operational, strategic and policy issues as they arise; make recommendations based on financial analysis and projections
- Work with Senior Vice President of Administration on engagement with the Board including assisting with meeting agenda preparation and selecting and engaging outside consultants (auditors, investment advisors, retirement plan advisors, etc.)
- Other activities as requested by Senior Vice President of Administration or CEO
Responsibilities also include management of third-party vendors and consultants who perform property, asset management and investment management.
Post-Financing Property and Asset Management
In partnership with the Vice President of Real Estate and Senior Vice President of Administration,
- Work with VP of Real Estate to manage property management company relationship relative to lease administration or other related issues with lessees
- Work with VP of Real Estate to maintain relationships with key tenant personnel
- Monitor the financial performance of all assets of TUFF
- Perform periodic surveillance including phone calls and site visits
- Prepare budget and variance cash flow analysis
- Prepare financial models and reconciliations
- Monitor operating expense experience and expense reconciliation
- Monitor the operational aspects of the facility
- Monitor the physical health of the asset
- Work with VP of Real Estate to manage property management staff, where applicable well as periodic reconciliation of the operating expenses and all other tangible aspects of the investment
- Manage periodic third-party property audits
- Monitor Institutional tenant and report findings of credit rating changes, future facility or financial planning, change in personnel and sub-tenancy, where applicable
- Develop, evaluate and institute financing strategies across the real estate portfolio
Investment Management
- Collect third party investment information and prepare internal reporting documents
- Update Senior Vice President of Administration on asset allocation and portfolio performance relative to benchmarks as well as individual manager performance
- Recommend changes to allocations amongst investment managers and related to asset allocation
- Maintain and recommend changes to the Investment Policy Statement
- Execute on agreed upon investment changes
📌 Full-time | On-site | Midtown Atlanta
📌 Bachelor’s in Accounting or Finance. CPA or MBA required.
📌 10+ years of senior financial and accounting leadership experience required with a concentration in real estate preferred
📌 To apply, please email resume and cover letter to teresa@tuff.org.