Financial Officer II
MaineHousing | Augusta, ME
Primary Purpose of Position: The Financial Officer II will coordinate, perform and monitor quality control audits, and assist in processing contract renewals and annual contract rent increases under Housing Assistance Payments (HAP) contracts for multifamily Section 8 properties.
Education /Experience: Bachelor’s degree in Accounting or related field and three years of financial review and housing administration or a combination of seven years of experience, training and independent study preferred.
Certifications / Licenses: Multifamily Occupancy Specialist Certification preferred
Coordinate reviews and perform quality control audits for Section 8 contract compliance (PBCA & TCA)
- Coordinate PBCA and TCA contract renewal tasks and annual rent increase task to ensure timely completion
- Provide Quality Control (QC) reviews of required tasks
Coordinate the HAP contact renewal process and perform quality control audits for Traditional Contract Administration (TCA) Section 8 Properties and PBCA contract renewals
- Provide guidance to owner/managers and internal MaineHousing (MH) staff on the provisions in the Section 8 Renewal Guide
- Determine if the renewal option chosen by the owner is consistent with the rules in the renewal guide.
- Coordinate with the owner, HUD and internal MH staff on timelines for completing the renewals.
Coordinate the process for rent increases and perform quality control audits for Traditional Contract Administration (TCA) Section Properties
- Send RCS to an independent reviewing appraiser for analysis and work with owner and initial appraiser to resolve any discrepancies
- Process requests for Special Rent Increases (review budget, determine initial equity, and utility costs)
Coordinate and perform quality control audits for the annual Project-Based Contract Administration (PBCA) HAP contract rent increases process
- Calculate the adjustment, execute contract/amendment and notify HUD and owner
- Enter all relevant data in HUD systems, HDS and the Multi-family database.
Participate in the annual audited financial and budget review process
- Review the submitted annual financial report and budget information in accordance with GAAP, HUD guidelines, HAP contracts and MaineHousing mortgage documents
- Review audited financial statements and annual budgets for properties in the multi-family portfolio to evaluate portfolio risk
- Provide quality control function to ensure consistent and accurate AFR/budget reviews
- Periodic participation in field audit activities
- Provide backup support for the escrow processing activities
- Be a resource to the department for questions related to financial activities of properties
Track PBCA tasks
- Prepare monthly invoice to HUD for PBCA administrative fees
- Prepare and submit all certifications as required by the PBCA contract
Prepare/Review monthly payment report to owners and Finance Department
- Process monthly subsidy vouchers and special claims as needed
- Work with HUD and owners when HAP funds are delayed
- Work with the Finance Department to reconcile bank accounts and prepare information for 1099s
Attend training and conferences
- HUD conferences and workshops regarding TRACS and Contract Administration are held in Washington D.C. on a quarterly basis
- HDS software users conferences are held in Florida on an as needed basis
- Various industry groups provide training or ask for MaineHousing participation on a regular basis
Other duties as assigned
Skills and Knowledge:
- Knowledge and interpretation of federal, state, and local laws regarding the programs
- Strong project management, time management, and organizational skills
- Effective conflict resolution techniques
- Strong PC skills using various software (spreadsheet, word processing, database)
- Ability to establish and maintain good working relationships with business partners
- Experience communicating effectively in front of groups
- Excellent communication skills – oral, written, listening
- Ability to take initiative, work independently, and utilize creative and analytical skills to resolve issues
Working Conditions: Fast paced environment with multiple priorities, interruptions & deadlines. The majority of the responsibilities will be performed within the MaineHousing facility. MaineHousing office hours are Monday – Friday from 8:00am to 5:00pm.
An environmentally friendly work place with a great recycling program Free parking and access to the Rail Trail A comprehensive benefits package: medical and dental insurance for employees, and eligible dependents including domestic partner, health care and dependent care flexible spending accounts, life insurance, short-term disability, long-term disability, long-term care, and two retirement plan options Earned Time12 Paid HolidaysJury Duty Pay Bereavement Leave Employee Assistance Program Flex-time and Telecommuting Wellness Programs Training and Professional Development Opportunities Casual Fridays
The starting salary for this position is $18.5177, plus a comprehensive benefits package as listed above.