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    Chief Financial Officer - San Francisco, United States - Associate Capital

    Associate Capital
    Associate Capital San Francisco, United States

    2 weeks ago

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    Description
    Direct message the job poster from Associate Capital
    Associate Capital is looking for a Chief Financial Officer.

    Our flagship project Power Station is rapidly advancing through economic headwinds, and our firm is actively recruiting top performers to meet the demands of a large scale development project.


    About Us:
    Associate Capital is a dynamic and growing real estate firm. Our primary focus is Power Station, a once-in-a-generation, waterfront development project in San Francisco's Dogpatch neighborhood.

    We have developed a specialty in urban, adaptive reuse projects,, and our future endeavors are not limited to one project.

    We actively seek projects that deliver superior returns but where genuine community engagement and topnotch design can transform urban areas.

    In our colleagues we value hustle, collaboration and creativity in the face of complexity. We have nimble capital and are not prone to bureaucracy at the expense of efficiency or common sense.

    About Our Work:


    Power Station sits on the largest privately held, waterfront parcel in San Francisco and is nestled among other large development projects that are collectively transforming the city's eastern waterfront (e.g., Mission Rock, Pier 70).

    We are developing 5M sq ft of new residences, office, life science and thoughtfully curated retail, all interspersed with 7 acres of parks.

    We aim to establish the global standard for sustainable development and living.

    How did we get here? The power plant was decommissioned in 2011, and the site was acquired by Meg Whitman's family office in 2016.

    We fully entitled the project with unanimous approvals in 2020 and started horizontal construction in early 2021, all in record time.

    Today the site is fully demolished, remediated, excavated and graded.
    We have constructed a state-of-the-art sea wall and stabilized our historic power structures. Building design and street improvements are well underway.

    We broke ground on our first residential building in October 2023 and are on track to commence construction on a large, build-to-suit commercial building in 2025.Since inception, we have consistently delivered on schedule and budget.


    Position Summary:
    Associate Capital is looking for a strategic financial leader to help guide the next chapter of this project. The CFO will be part of the management team and report directly to our Managing Partner, Enrique Landa.
    We need someone to migrate institutional-quality practices to a small and growing company. We need a hands-on worker who can be in the trenches as well as overseeing others.
    No one will have every skill on our list. Please consider meeting with us if you are strong in many areas and can learn others.

    Your spheres of responsibility include:

    • Financial Strategy and Planning

    Develop and execute financial strategies aligned with the company's growth objectives, overseeing financial forecasting, budgeting, and long-term planning for major projects.

    Own the multi-year business plan and balance the needs for equity/debt to achieve those goals.
    Collaborate with leadership to assess project feasibility, risk exposure, and potential returns, while ensuring alignment with investor expectations.
    Create processes that drive growth, process improvements, and controls.

    • Tax Management

    Lead efforts to optimize investor tax structures, working closely with legal and tax experts to ensure efficient utilization of tax incentives and strategies.

    Manage tax compliance with a Big 4 firm.

    Participate as the lead on all tax matters – coordinating with outside legal and accounting firms to ensure that deal terms and accounting/tax are aligned with business goals.


    • Strategic Partnerships

    Participate with legal and asset teams on deal structures, clearing issues relating to tax and accounting matters, and execution on finance/accounting/compliance in JV agreements and leases.

    Collaborate with legal, tax, and accounting professionals to navigate complex regulatory environments, optimize tax strategies, and ensure compliance with local laws and regulations.

    Work with JV partners and property managers to review all financial reporting inbound and outbound Treasury/Cash management.
    Maintain relationships with lenders and negotiate debt for individual deals.

    • Capital Strategy & Investor Relations
    Consider sources of outside capital in the future that share the vision for Power Station's potential.
    Understand investor expectations and communicate with various capital sources to instill confidence and deepen relationships.

    Bring experience working institutional investors, domestic or international, to articulate the potential of Power Station and enable the firm to deliver on that vision.

    Develop and refine an ongoing capital strategy that enables the firm to deliver the right product at the right time to optimize the project's overall returns.


    • Family Office Partnership
    Serve as the key liaison to our principal capital's family office for financial reporting and debt/equity activity.
    Ensure goal alignment and pivot appropriately based on that understanding.
    Anticipate questions, concerns and needs when entering into new partnerships.
    Implement best practices in financial operations, internal controls, and risk management to safeguard company assets and promote operational efficiency.
    Work closely with General Counsel to ensure all development activities comply with City regulations and our Development Agreements.
    Develop creative solutions that add value to the project while fulfilling compliance commitments.
    Oversee the company's financial operations, including accounting, treasury, financial controls, and reporting functions, ensuring accuracy and compliance.
    Responsible for timely and accurate financial reporting to board, lenders and investors.
    Oversee budgets (actuals and projections) for construction, management company, and lenders.

    Assist Controller and management in deciding what system goals are aspirational and what efforts are necessary and best practices to do the work above.

    Coordinate with the construction team and understand their goals. Make sure that the accounting team is

    focused


    on construction costs and is going above and beyond to support the construction team as it manages very large dollars on a very large project.

    Work with JV partners and property managers to review all financial reporting inbound and outbound.

    • Capital/Treasury/Cash Management

    Manage capital deployment strategies, financing options, and capital allocation for various projects, balancing short-term liquidity needs with long-term growth objectives.

    Evaluate and negotiate financing terms with lending institutions and investors to secure favorable terms.
    Work with asset managers on JV deals to manage capital calls and distributions.

    Competencies:
    You will love building Power Station with your core competencies:
    Strategic problem solving
    Sound judgement
    Highly organized and detail oriented
    High output
    Collaborative teammate

    Qualifications:

    You should have:
    Min. 15 years relevant experience in real estate (including at an owner/operator, developer, fund manager or consulting firm).
    CPA preferred
    MBA or Masters in Real Estate preferred

    Location:
    On site at Power Station office in Dogpatch 4 days/week. Lunch is served 2-3 days /week, plus thoughtfully curated snack selection. Occasional travel may be required.

    Compensation:
    Salary and annual bonus target based on experience. Base salary range of $300,000-450,000 based on experience, plus an annual bonus and deferred compensation. We plan to include this position in a long-term incentive compensation plan.

    Benefits:
    We are a small, close-knit group.

    We are committed to going above and beyond in providing benefits that protect you and your family – at zero or low cost to you.

    Company pays 70% of medical, vision and dental premiums for employee and family (or $350 monthly stipend for waiver of health benefits)
    HSA with employer contributions ($250/month for individual or $500 for family)
    401K with 50% employer match (up to 4.5% of base salary)
    15 days PTO per year,

    plus

    two weeks of office closures (the week of July 4th and the week between Christmas and New Year's Day)
    Statutory sick leave
    16 weeks paid parental leave (birthing parent) or 12 weeks paid parental leave (non-birthing parent)
    Life and AD&D insurance (paid by company)
    Supplemental life and AD&D insurance (available at below-market rates)
    Long-term disability insurance (paid by company)
    Short-term disability insurance (available at below-market rates)
    Pre-tax employee contributions for public transportation expenses
    CARES Act student loan assistance program
    Hospital indemnity insurance, accident insurance, critical illness insurance and legal insurance (available at below-market rates)

    Disclaimer:
    Above is an outline of this position only. It is not comprehensive, and it is subject to change at any time.

    We are proud equal opportunity employers and committed to providing an inclusive environment based on mutual respect for all candidates and team members.

    Employment decisions, including hiring decisions, are not based on race, color, religion, national origin, ancestry, sex (including pregnancy, childbirth, breastfeeding or medical conditions related to pregnancy), physical or mental disability, sexual orientation, gender identity or expression, age, military or veteran status, genetic information, medical condition, natural hairstyle or any other characteristic protected by state or federal law.

    We also provide reasonable accommodations to qualified individuals with disabilities in accordance with state and federal laws.
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