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Purpose of Position
As a key member of the Executive Management team, the Director of Finance will report to the Chief Operating Officer and will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities of the company. This will include direct responsibility for accounting, finance, forecasting, strategic planning, investor relationships and partnership compliance and private and institutional financing.
To provide an administrative and accounting systems and procedures in compliance with generally accepted GAAP principles and requirements of the KICA Covenants and Board of Directors.
Provide oversight of accounting and IT departments to ensure support of organization goals and compliance with organization policies.
Responsibilities and Duties
General –
Administers the accounting function of the Community Association according to the KICA Financial Controls Manual.
Oversees IT department to ensure KICA is current on technology and operating within KICA’s policies and procedures.
Provides leadership in the development for the continuous evaluation of short and long-term strategic financial objectives.
Ensures credibility of Finance group by providing timely and accurate analysis of budgets, financial trends and forecasts.
Evaluates and advises on the impact of long range planning, introduction of new programs/strategies and regulatory action.
Establish and maintain strong relationships with senior executives so as to identify their needs and seek full range of business solutions.
Provide executive management with advice on the financial implications of business activities.
Manage processes for financial forecasting, budgets and consolidation and reporting to the Company.
Provide recommendations to strategically enhance financial performance and business opportunities.
Ensure that effective internal controls are in place and ensure compliance with GAAP and applicable federal, state and local regulatory laws and rules for financial and tax reporting.
Conducts performance appraisals, commendations, disciplinary action, and wage recommendations for those employees directly under his/her supervision.
Ensures compliance with company and department personnel policies and procedures.
Oversees the daily work activity of the accounting and IT operations of the Association.
Productivity –
Provides superior customer service to a diverse association membership.
Complete operations plan directives assigned.
Monitor COO’s timeline for completion of operations plan action items.
Manage and monitor areas under control, in accordance with the Financial Controls Manual and other applicable KICA policies. Report inconsistencies or projected overruns to COO.
Supervise and approve bi-weekly payroll, including payments to IRS and State for payroll withholding taxes, quarterly and annual payroll tax returns (941, unemployment etc.), W2s and 1099s. Reconcile all withholding accounts and accruals.
Trustee and Administrator of 401(k) plan, cafeteria plan, including filing necessary reports and tax returns. Work with Plan Sponsor to comply with IRS and DOL requirements.
Plan, organize and prioritize daily work activity; maintaining a high level of departmental productivity.
Coordinate monthly closing process and complete in a timely, efficient, and accurate manner.
Supervise the annual billing of KICA general, segment and amenity assessments. and the quarterly assessments for property status changes and closings of KRA lots.
Supervise the annual billing of commercial assessments.
Reconcile unsubdivided land annually with KP to ensure accurate assessments. Prepare and process unsubdivided land assessments quarterly.
Ensure restricted funds guidelines are adhered to, and charges are allocated. Prepare all necessary journal entries and maintain General Ledger.
Prepare, review and distribute financial statements to Board, Finance Advisory Committee, COO and Department Heads on a monthly basis.
Assist Board, Finance Advisory Committee, COO and Department Heads in analysis of statements and budgets. Serves as Vice-Chair on Finance Advisory Committee.
Schedule and attend finance committee meetings. Provide information link between committees and/or staff. Respond to verbal and written property owner financial inquiries.
Coordinate with financial institutions and Finance Advisory Committee for investments of Association funds. Maintain investment schedule and work with Finance Committee to maximize earnings while complying with Investment Policy. Report Investment activity to Board on a quarterly basis.
Supervise Accounts Receivable to ensure deposits are made and recorded in a timely manner.
Monitor weekly accounts payable processed by Accounting Assistant, ensure proper coding to budgeted line items, and verify appropriate approvals and documents to substantiate invoices. Sign checks and manage bank drafts.
Monitor and maintain insurance policies and claims, inclusive of, general liability, umbrella liability, property auto, et. al. Provide necessary information to agents on renewals and updates or changes in coverage, and provide information for annual insurance audits.
Monitor Fund Balances.
Responsible for filing of 1099’s, Sales and Hospitality Tax Returns, Business Licenses, Property Tax Returns, Income Tax Returns and Liquor License.
Other duties as assigned by the COO.
Quality Control –
Supervise the maintenance of fixed assets records and depreciation schedule.
Assist independent auditor with internal Annual Financial Audit as necessary to provide required documentation and to minimize audit time and expense.
Prepare monthly account reconciliation’s and schedules for financial reports and in preparation for annual audit.
Ensure filing of income tax returns and payments of estimated income tax, if required.
Work with tax accountant to develop tax planning strategies and minimize income taxes.
Cost Control –
Monitor existing and implement new internal controls as necessary in the financial operations of KICA.
Assist the COO, Finance Committee and Board in recommending, establishing and maintaining necessary reserve funds for future major repairs and replacement in compliance with the Reserve Policy. Prepare and monitor the 5-Yr MRR Reserve Fund analysis.
Monitor and assist in annual Reserve Study.
Implement and maintain contracts adhere payments according to contracts. Maintain contract files.
Coordinate annual budget process, working closely with COO, Association Department Heads and Finance Committee to prepare annual budget and cash flow projections.
Provide support to Department Heads to prepare and monitor budget performance and adherence.
Supervise the process of filing liens against properties that have past due accounts and follow the collection policy.
Maintain all property and equipment leases.
Follow all company policies and procedures to the Kiawah Standards.
Work efficiently in order to reduce costs.
Other duties as assigned.
As a key member of the Executive Management team, the Director of Finance will report to the Chief Operating Officer and will have primary day-to-day responsibility for planning, implementing, managing and controlling all financial-related activities of the company. This will include direct responsibility for accounting, finance, forecasting, strategic planning, investor relationships and partnership compliance and private and institutional financing.
To provide an administrative and accounting systems and procedures in compliance with generally accepted GAAP principles and requirements of the KICA Covenants and Board of Directors.
Provide oversight of accounting and IT departments to ensure support of organization goals and compliance with organization policies.
Responsibilities and Duties
General –
Administers the accounting function of the Community Association according to the KICA Financial Controls Manual.
Oversees IT department to ensure KICA is current on technology and operating within KICA’s policies and procedures.
Provides leadership in the development for the continuous evaluation of short and long-term strategic financial objectives.
Ensures credibility of Finance group by providing timely and accurate analysis of budgets, financial trends and forecasts.
Evaluates and advises on the impact of long range planning, introduction of new programs/strategies and regulatory action.
Establish and maintain strong relationships with senior executives so as to identify their needs and seek full range of business solutions.
Provide executive management with advice on the financial implications of business activities.
Manage processes for financial forecasting, budgets and consolidation and reporting to the Company.
Provide recommendations to strategically enhance financial performance and business opportunities.
Ensure that effective internal controls are in place and ensure compliance with GAAP and applicable federal, state and local regulatory laws and rules for financial and tax reporting.
Conducts performance appraisals, commendations, disciplinary action, and wage recommendations for those employees directly under his/her supervision.
Ensures compliance with company and department personnel policies and procedures.
Oversees the daily work activity of the accounting and IT operations of the Association.
Productivity –
Provides superior customer service to a diverse association membership.
Complete operations plan directives assigned.
Monitor COO’s timeline for completion of operations plan action items.
Manage and monitor areas under control, in accordance with the Financial Controls Manual and other applicable KICA policies. Report inconsistencies or projected overruns to COO.
Supervise and approve bi-weekly payroll, including payments to IRS and State for payroll withholding taxes, quarterly and annual payroll tax returns (941, unemployment etc.), W2s and 1099s. Reconcile all withholding accounts and accruals.
Trustee and Administrator of 401(k) plan, cafeteria plan, including filing necessary reports and tax returns. Work with Plan Sponsor to comply with IRS and DOL requirements.
Plan, organize and prioritize daily work activity; maintaining a high level of departmental productivity.
Coordinate monthly closing process and complete in a timely, efficient, and accurate manner.
Supervise the annual billing of KICA general, segment and amenity assessments. and the quarterly assessments for property status changes and closings of KRA lots.
Supervise the annual billing of commercial assessments.
Reconcile unsubdivided land annually with KP to ensure accurate assessments. Prepare and process unsubdivided land assessments quarterly.
Ensure restricted funds guidelines are adhered to, and charges are allocated. Prepare all necessary journal entries and maintain General Ledger.
Prepare, review and distribute financial statements to Board, Finance Advisory Committee, COO and Department Heads on a monthly basis.
Assist Board, Finance Advisory Committee, COO and Department Heads in analysis of statements and budgets. Serves as Vice-Chair on Finance Advisory Committee.
Schedule and attend finance committee meetings. Provide information link between committees and/or staff. Respond to verbal and written property owner financial inquiries.
Coordinate with financial institutions and Finance Advisory Committee for investments of Association funds. Maintain investment schedule and work with Finance Committee to maximize earnings while complying with Investment Policy. Report Investment activity to Board on a quarterly basis.
Supervise Accounts Receivable to ensure deposits are made and recorded in a timely manner.
Monitor weekly accounts payable processed by Accounting Assistant, ensure proper coding to budgeted line items, and verify appropriate approvals and documents to substantiate invoices. Sign checks and manage bank drafts.
Monitor and maintain insurance policies and claims, inclusive of, general liability, umbrella liability, property auto, et. al. Provide necessary information to agents on renewals and updates or changes in coverage, and provide information for annual insurance audits.
Monitor Fund Balances.
Responsible for filing of 1099’s, Sales and Hospitality Tax Returns, Business Licenses, Property Tax Returns, Income Tax Returns and Liquor License.
Other duties as assigned by the COO.
Quality Control –
Supervise the maintenance of fixed assets records and depreciation schedule.
Assist independent auditor with internal Annual Financial Audit as necessary to provide required documentation and to minimize audit time and expense.
Prepare monthly account reconciliation’s and schedules for financial reports and in preparation for annual audit.
Ensure filing of income tax returns and payments of estimated income tax, if required.
Work with tax accountant to develop tax planning strategies and minimize income taxes.
Cost Control –
Monitor existing and implement new internal controls as necessary in the financial operations of KICA.
Assist the COO, Finance Committee and Board in recommending, establishing and maintaining necessary reserve funds for future major repairs and replacement in compliance with the Reserve Policy. Prepare and monitor the 5-Yr MRR Reserve Fund analysis.
Monitor and assist in annual Reserve Study.
Implement and maintain contracts adhere payments according to contracts. Maintain contract files.
Coordinate annual budget process, working closely with COO, Association Department Heads and Finance Committee to prepare annual budget and cash flow projections.
Provide support to Department Heads to prepare and monitor budget performance and adherence.
Supervise the process of filing liens against properties that have past due accounts and follow the collection policy.
Maintain all property and equipment leases.
Follow all company policies and procedures to the Kiawah Standards.
Work efficiently in order to reduce costs.
Other duties as assigned.
Qualifications and Abilities
BS in Accounting or Finance, MBA preferred.
CPA certified.
10+ years in progressively responsible financial leadership roles, preferably in real estate development, property management, and/ or construction industry.
Thorough knowledge of payroll, accounts receivable, accounts payable, general ledger, financial reporting, budgetary processing.
General understanding of the operations and function of the association.
Ability to excel in a volunteer work environment.
Ability to provide quality services to a diverse member clientele.
Exceptional customer service skills, both internal and external.
Excellent managerial skills and ability to evaluate the work of others.
Working knowledge of organizations applicable financial practices and procedures, as well as a thorough understanding of state and federal rules and regulations.
Proficient with accounting software and standard office and accounting equipment.
Complete understanding of the operation and function of all systems under immediate control.
Thorough knowledge of financial operating parameters and variables employed in the daily operations of the KICA.
Ability to maintain an open line of communication, both verbal and written, with Supervisors, Associates, Employees, Members Owners, Committees and others.
Strong interpersonal skills, ability to communicate and manage well at all levels of the organization and with staff at remote locations essential.
Strong problem solving and creative skills and the ability to exercise sound judgment and make decisions based on accurate and timely analyses.
High level of integrity and dependability with a strong sense of urgency and results-orientation.
PC proficiency is essential (Windows environment) and strong working knowledge of Financial Edge and Excel is preferred.
Prolonged periods of sitting at a desk and repetitive motion.
Other requirements:
Pass a pre-employment drug screen, criminal background check, and driving record check.
Maintain a valid South Carolina Driver’s License
Please provide a cover letter, resume, and salary requirements with application.
Salary based on experience.