Assistant Controller

About the Organization

The Momentus Capital branded family of organizations - which includes Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies - is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems that have failed to address systemic issues of inequality, economic empowerment, and the widening racial wealth gap by offering a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology services that advance locally-led solutions. Our suite of products and services, experience, and scope will foster equitable job creation, wealth building, and economic mobility.

Position Summary

The Assistant Controller reports directly to the Controller and is responsible for managing the overall execution of various accounting functions related to Capital Impact Partners (CIP) and its subsidiaries; primarily Grant Accounting and Reporting (CIP and CDC Small Business Finance), Accounts Payable and Journal Entry & Reconciliation Review. The Assistant Controller should have a good understanding of the accounting issues facing the organization and serve as a guide/resource for the department as well as other internal groups of CIP. 

This position is supported by a highly skilled technical staff, including the two Senior Grant Accountants, the AP Manager and the AP Specialist.  This structure allows for the Assistant Controller to maintain an analytical perspective while the direct reports allocate more time to understanding the intricacies of their particular areas.  

Essential Responsibilities

Grant Accounting and Reporting

• Review and approve the periodic grant sweep wires within the Reval system before submission to Treasury department.
• Review quarterly and other reports generated for federal agencies and investors (i.e. Department of Education and private foundations).
• Review annual Department of Education performance report prepared by Sr Grant Accountant.
• Provide 2nd level of review of annual CIP consolidated audit.
• Provide 2nd level of review of annual 990 for CIP.
• Primary review Single Audit (A-133) and other audit schedules generated by Sr Grant Accountant prior to submission to external auditors.

Accounts Payable Daily and Monthly Grant responsibilities

• Approval of CIP and CDC AP invoices coded to grants.  This entails reviewing the specific grant related invoices for appropriate vendors, amounts, GL coding, and dates.  
• Review the monthly labor allocations and other spending of CIP and CDC grant funds to ensure that funds are expended according to specific guidelines (i.e. timing and amount) established in the respective agreements.  
• Review monthly CIP and CDC grant accounting batches and related financial reports.
• Review the CIP and CDC monthly grants revenue, net assets released (NAR) from restriction schedule.
• Compile the CIP and CDC quarterly forecasted and corporate annual budgeted grant revenue and NAR prior to submission to the financial reporting team.  Confirm that the funds are released timely and in adherence to grant agreements and GAAP.
• Assist the Sr Grant Accountants and Program teams to write/review grant proposals and assist in the generation of a spending budget to submit with the grant proposal for CIP and CDC awards.
• Review grant agreements to determine the appropriate accounting treatment per ASU 2018-08 guidance.
• Review monthly technical assistance invoices generated by Sr Grant Accountant prior to submission to various recipients of consulting work.  Ensure invoices have labor hours and other consulting costs to be reimbursed.
• Work with Sr. Manager of Financial Reporting to provide insight for fluctuations in grant funds or other major variances.

Quarterly and Annual Grant Reporting

• Work with Sr. Grant Accountants to prepare and lead the quarterly grant team meetings.

• Ensure that modules (i.e. General ledger, AP, AR and Fixed Assets) within the Financial Edge system are timely and accurately closed each month by Senior Grant accountant and AP Manager.
• Reviewing and approving weekly AP Invoices to ensure that the appropriate amount, invoice number, invoice date, and accounting codes are reflected within Financial Edge.
• Review compilation of the AP 1099’s for distribution to vendors and Internal Revenue Services.
• Serve as back up to AP Manager/Senior AP Specialist.

Journal Entries, Reconciliations, Audit

• Review and approve/post daily cash transactions recorded by Senior Grant Accountants and Senior Manager of Structured Funds.
• Review various monthly reconciliations for cash and other balance sheet accounts to ensure that any outstanding items have been researched, identified and cleared.
• Analyze monthly Trial Balance for variances and trends. Manage and encourage all Accounting staff to research and explain fluctuations so that the explanations can be provided to senior management on a proactive basis.
• Oversee work of the Accounting team in review and final approval of annual audit schedules.  Ensure consistency between schedules and annual financial statements.

Systems and Controls

• Work with various internal and external personnel as one of the administrators for the general ledger system; primarily the setup of new general ledger account codes, project IDs and funding sources within the general ledger.  
• Update Certify/Reimburse with new users, grant Project IDs and Funding Sources, as needed.
• Work with the Controller to oversee the Corporate American Express program and the affiliated American Express Global Travel program.  This responsibility requires the Assistant Controller to work as a backup to assist users when they experience systems issues with their Corporate American Express.
• Frequent review and approval of subgrants and new grants within the Salesforce system.
• Routinely assess the effectiveness of infrastructure processes to enable the Accounting and Finance teams to work as efficiently as possible.

Strategy, Policy, Advisory and Advocacy

• Work with the Controller to ensure that Finance team follows strategic policies and goals outlined by senior management including closely monitoring corporate spending, periodically reviewing processes to work as efficiently as possible, and guiding team by adhering to corporate core values.
• Research and work with the auditors to ensure that CIP accounting adheres to GAAP guidelines.
• Assist Controller and CFO with a variety of tasks as needed.

Requirements

Experience

• Minimum of 8 years of experience of increasing responsibility in a manager position within the financial services or nonprofit industries.
• Minimum of 8 years of experience with grant accounting, reporting and management, required.
• Minimum of 5 years of experience with Accounts payable review and oversight.

Education

• Bachelor’s Degree in Accounting or other related field
• Certified Public Accountant (CPA), required
• Grants Management certification, desired

Professional Skills

• Strategic thinker with excellent interpersonal skills and high emotional intelligence.
• Experience with Grant accounting and reporting, specifically understanding and implementation of ASU 2018-08.  
• Experience and familiarity with structured finance and managing on-balance and off-balance sheet lending programs. 
• An overall grasp of issues inherent in a financial institution’s accounting program, to be able to think creatively and assertively on such matters, and to manage a team in this discipline.
• Demonstrated ability to think through operational implications and efficiencies of business and new business ideas.
• Familiarity with using and implementing new business technologies and opportunities to use business technology innovations to build and grow the business. 
• Manage the financial function of the organization and communicate progress or issues to the Controller and CFO. 
• Familiarity with nonprofit community facilities, housing, health care, senior housing and care, community development, and/or charter schools is helpful; but not required.
• Although not required, experience with CDFIs and non-profit accounting and tax related matters is helpful.

Personal Attributes

• Demonstrated capacity for independent judgment and sound decision making in a diverse and complex organizational environment.
• Collaborative, facilitative leader, with drive for decisive results.
• Internal and external customer service mentality.
• Ability to foster trust, credibility, and cohesive teamwork among persons of diverse talents, backgrounds, and perspectives.
• Keen, analytical problem solver.
• Thrives in a fast-paced working environment.
• Highest level of integrity, honesty, and respect for others in both business and personal relationships.
• Sense of urgency.
• Strong communication skills.
• Positive and energetic.
• Wholeheartedly embraces the mission of the organization.
• Comfortable in a collaborative, consensus-based, rather than a culture of working in a “silo”.

Benefits

The salary range for this position is $124,147 - $165,736 and is eligible for an annual incentive.

This role is hybrid and based out of Arlington, VA.

All employees must be legally authorized to work in the United States. The Company will not sponsor applicants for work visas.

EEO: Momentus Capital is an equal opportunity employer committed to a diverse work force; and, as such, is fully committed to providing employment for qualified individuals, free from discrimination on the basis of race, color, religion, sex, age, sexual orientation, gender identity, national origin, disability, marital status, pregnancy, childbirth or related medical conditions, or any other protected characteristic established by applicable law.