Finance Director - Manufacturing

POSITION IDENTIFICATION

Title: Finance Director / Cost Accounting

Business Unit: iManufacture

Reports to: Chief Manufacturing Officer

COMPANY PROFILE

Impact Housing is a vertically integrated housing development and production company whose mission is to solve the housing crisis among low- and moderate-income households in Southern California. Impact Housing is headquartered in the Bunker Hill district of downtown Los Angeles, coupled with a 51K SF modular manufacturing facility located in Yorba Linda and a satellite construction office in the Grantville district in San Diego.

Impact Housing closed a $25M Series A round of financing in September 2021 and is currently negotiating a term sheet for a secondary capital expansion round for plant capex and PropCo equity estimated at $70M, expected to close Q1 2024. The organization has a board of advisors comprised of the retired CFO and COO of Clayton Homes (Gross revenues $12B, wholly owned by Berkshire Hathaway).

The Finance Director / VP of Finance roll is to assist with leading an EBITDA driven vertically integrated as manufacturing profit center platform that delivers critically needed products, services and continuous improvement tools.

Impact Housing currently has contractual MSA (Master Service Agreements) in place for 425 units which translates into approximately $36.7M to the top line revenue for the operating platform. The current pipeline consists of 3 projects that are fully capitalized with programmatic institutional real estate investment partners. The future pipeline has a growing acquisition project list of 1,600+ total units under contract through 2026. Impact Housing anticipates the current headcount of 160 is expected to stabilize at 200 employees by the end of 2024.

The mission of providing affordable housing is strongly imprinted into the organization's culture. The company has a flat structure geared towards rapid growth with its manufacturing facility fully booked out through 2025. Business model stabilizes in 2024 with a goal of delivering 800 modules per year in 2025. Because the organization is innovating a new business model within the real estate industry, the culture has great openness to adopting groundbreaking new approaches supported by large scale data. Impact Housing's culture balances the intensity that comes with this kind of entrepreneurial work pace with ample opportunities to bond as a team.

REPORTING RELATIONSHIPS

The Finance Director/VP reports solid line to the Manufacturing Chief Officer and dot line to the Chief Financial Officer and at scale, will work with a team of 30+ professionals across the organization.

SUMMARY OF RESPONSIBILITIES

Impact Housing seeks Finance Director to lead the company's finance, analysis, and operational reporting initiatives. The successful candidate will augment the company's corporate systems and controls and alongside CMO and CFO, oversee the organization's requirements around financial reporting, financial analysis and modeling and operational accounting, Budget development, cash flow controlling and supplier base MSA terms & condition management. He or she will be responsible for the financial reporting and analysis for all investments supported by deep financial analysis, financial processes, KPI's and controls and process improvements. In addition, the VP Finance will provide system and process improvement for the Acumatica ERP suite.

IDEAL PROFILE

The ideal candidate will be a current have experience as a finance professional in a "large assembly" manufacturer or multi plant operational platform based in Southern California with some commercial real estate developer/general contractor background preferable.

KNOWLEDGE, SKILLS & ABILITIES

The successful candidate will have the following knowledge, skills and abilities:

• Deep expertise in strategic and operational financial leadership for manufacturing is required.

• Some experience in financial leadership in multifamily, commercial, or master plan (horizontal) development + construction or at a minimum multi facility operational level oversight also required.

• Proven experience in FP&A, financial reporting.

• Deep understanding of lean operations / investment, Mfg. plants consolidation mastery profit thinking and able to command and choreograph results.

• Track record of success building out corporate finance and accounting teams and required system wide tool implementation and scaling.

• Ability to develop, report and articulate KPI's for the business units. Must be able to communicate results of operations, develop leading indicators and work with the management team to address KPI's and develop plans to counter KPI's that are problematic.

• Strong problem-solving capability with the ability to create value.

• ERP experience tier 1 or tier 2 (Acumatica, Oracle Netsuite).

• Gather financial data for analysis and forecasting with respect to profits, trends, costs, and compliance!

• Coordinate the preparation of annual, quarterly, and monthly reports.

• Own all Mfg aspects of Finance operations, including:

• Regular financial reporting (e.g. preparing monthly, quarterly, and annual financial statements), forecasts, planning, budgeting, financial analysis, cash management, and procurement

• Timely and accurately provide reporting of financial information to internal parties, government regulators and outside agencies.

• Audit and improve productivity and effectiveness of current cross team processes.

• Prepare financial reports Build robust internal financial and operational processes

• Drive and manage the financial initiatives, including developing action plans to ensure annual financial objectives are met

• Monitor financial performance by measuring and analyzing results.

• Prepares timely and accurate analyses, summaries, and reports of financial data on the operating progress of the company.

• Create a reliable cash flow projection process and reporting structure that includes minimum cash threshold to meet operational needs, AP/ AR Management Discipline. Planning and execution.

• Routinely review revenue cycle metrics to proactively identify and address issues affecting overall performance

• Manages the company's compliance with local and federal regulatory matters.

• Partner with senior leaders to ensure the company hits budget targets.

• Direct and manage the finance and accounting teams for Mfg. and develop the financial strategy for the organization.

• Improve efficiency related to billing, reporting, revenue recognition, payments, receivable, etc.

• Promote a culture of high performance and continuous improvement that values learning and a commitment to quality.

PERSONAL CHARACTERISTICS

• Strong passion for Impact Housing's mission to innovate the housing market by scaling housing production to historically high levels for low- and mid-income households.

• Embrace "hands on" approach, seeking to help build out entire team during rapid scaling road map. Willingness to explore and implement innovative processes and solutions required in renovating decades old real estate development industry paradigms.

• Strong executive presence and sense of professionalism with a creative, driven and entrepreneurial style.

• Deep commitment to ethics and to embedding ethics throughout the organization.

• Strong desire for a long-term commitment to grow with the company.

• In-depth knowledge of financial benchmarking, accounting, audit and tax compliance, and other regulatory matters

• Adept in fiscal management principles and processes including resource management and needs assessment.

• Partner with management team to establish and track financial goals.

• Possesses critical knowledge of federal and multiple state tax laws as well as basic accounting issues.

• Able to identify risks as well as opportunities to provide feedback on decisions affecting financial results of the company.

EDUCATION & TRAINING

An undergraduate degree and MBA are required.

COMPENSATION

• Competitive salary range of $180,000 - 190,000 dependent upon experience and certification.
• Health benefits, Medical, Dental, FSA, and HSA
• Vacation
• Sick time
• Holiday pay
• Ownership of company equity
• 401K Retirement Plan

Impact Housing is an equal opportunity employer and does not discriminate against any employee or job applicant because of race, color, religion, national origin, medical condition, pregnancy, sex, gender identity, gender expression, age, veteran status, physical or mental disability, or other applicable legally protected characteristics.