Chief Financial Officer

Chief Financial Officer 

Greater Minnesota Housing Fund

MISSION

GMHF supports the development of strong communities and affordable homes for all Minnesotans through access to low cost capital, effective partnerships and innovative solutions to local housing needs.

AT A GLANCE

• Established in 1996.

• Certified by the Department of Treasury as a CDFI and a 501(c)(3) nonprofit organization.

• Rated 3-Star AA+ Policy Plus by Aeris

• Member of the Federal Home Loan Bank of Des Moines

• To learn more about GMHF and the work they do, visit their website

Strong COMMUNITIES

Affordable HOMES

 

Minnesota faces a critical shortage of affordable housing. More than just a lender, Greater Minnesota Housing Fund (GMHF) is a leading statewide community development financial organization serving as both a nonprofit housing intermediary to identify and respond to gaps in the affordable housing ecosystem, and as the state’s largest affordable housing-focused Certified Community Development Financial Institution (CDFI), dedicated to bringing low-cost capital solutions to help meet Minnesota’s affordable housing needs.

 

GMHF was born out of a vision shared by The McKnight Foundation and Blandin Foundation to create a responsive, innovative intermediary that could address the unique affordable housing needs of Greater Minnesota’s rural areas, small towns, city centers, and Tribal lands. In 1996, these foundations committed $25M to create GMHF and have continued to provide major ongoing support in the years since, committing over $100M.

 

Today, GMHF works in all 87 counties in Minnesota and their investments include directly funding affordable housing projects, providing technical support to local communities, linking projects with financial resources, securing additional resources for affordable housing, and using research and program development activities to identify new and innovative ways of increasing affordable housing production.

 

It All Adds Up

 

Housing production, investment, and grantmaking since inception:

 

• $1.2B investments in 200+ communities across the state of Minnesota

• 23,667 homes for families and individuals in lowincome, cost-burdened households

• $4.3B total capital impact from GMHF’s lending and investing across all funds since 1996

• $824.4M project financing through the Revolving Loan Fund, leading to the creation or preservation of 23,677 housing units

• $285.5M socially motivated equity capital assembled by the Minnesota Equity Fund to finance 2,906 units of housing

• $23.5M capital mobilized through NOAH Impact Fund I, leading to the preservation of 701 units of unsubsidized rental housing

 

PROGRAMS & INITIATIVES

 

Emerging Developers Program: Offers technical assistance, training, grants, and access to GMHF financing to support developers who are creating community-based affordable housing solutions.

 

Housing & Health Initiative: Links healthcare and housing sector partners to create investment and innovation in housing stability – a critical social determinant of health.

 

Rural & Tribal Capacity Building: Supports housing development, preservation, and innovation in rural and Tribal communities statewide through grants, technical assistance, strategic partnerships, and financing.

 

THE CHIEF FINANCIAL OFFICER OPPORTUNITY

 

GMHF is at an extraordinary moment of growth and impact. Over the past decade, GMHF has doubled its lending capacity, expanded its total capitalization from $130M to $274M, and increased its staff from 16 to 32 professionals. This expansion reflects GMHF’s trusted reputation as Minnesota’s leading affordable housing financier – stepping up whenever gaps appear in the marketplace.

 

Their lending now supports roughly 25% of all projects selected by Minnesota Housing each year, while their equity subsidiaries – Minnesota Equity Fund and the NOAH Impact Fund – extend their reach into both new development and preservation of affordable housing statewide. GMHF’s innovative financial tools have enabled hundreds of partners to create and sustain thousands of homes for Minnesotans.

 

The next phase of GMHF’s journey is even more exciting. They’re expanding their presence in rural, Tribal, and Greater Minnesota communities; leading the way in energy-efficient housing finance; and pursuing new capitalization strategies to sustain long-term growth. Recent transformative grants, including $18M from MacKenzie Scott and $16M from Minnesota Housing, are fueling this next chapter of innovation and impact.

 

Joining GMHF now means becoming part of a dynamic, mission-driven team at the forefront of affordable housing finance – one that is shaping the future of equitable, sustainable communities across Minnesota.

 

WORKING RELATIONSHIPS

 

The CFO reports to the President & Chief Executive Officer (CEO) and is an integral member of the GMHF management team. They will lead a team of talented finance and accounting professionals and external advisors. which includes two direct reports and four indirect reports.

 

KEY RESPONSIBILITIES

 

Financial Strategy and Planning

 

• Leader: Develop and implement long- and short-term financial strategies in collaboration with the Board Finance Committee, CEO, and colleagues on the executive leadership team.

• Trusted Advisor: Provide counsel to the CEO and Board of Directors to support strategic planning and decision-making.

• Financial Steward: Analyze trends, develop predictive models, forecast financial performance, and recommend actions for long-term fiscal sustainability. Collaborate with the Director of Capital Development and Investor Relations and the management team to create multi-year and annual capitalization plans, identifying various capital sources including grants, debt, and program-related investments (i.e. debt with concessionary terms).

• Innovator: Lead GMHF’s innovation in testing, developing, and implementing new financial structures to meet GMHF’s capitalization needs, including off-balance sheet funds and secondary market strategies.

• Connector: Engage with similar CDFIs across the nation to share best practices and crowdsource innovative approaches to supporting communities and organizations.

• Key Relationships Manager: Cultivate, maintain and evaluate relationships with partners such as banking institutions, investment advisors, auditors, and other consultants to ensure alignment between financial resources and organizational goals.

 

Oversight of Financial Reporting and Compliance

 

• Financial Operations: Oversee financial operations and internal controls.

• CDFI Compliance, Certification, and Performance: Manage compliance with CDFI regulations and CDFI Fund contracts, annual CDFI recertification, annual Aeris rating process, and reporting to funders, lenders, and the Department of Treasury.

• Loan Portfolio and Compliance Management: Monitor loan portfolio performance and compliance with organizational, lender, and funder requirements. Ensure timely, accurate financial reporting to funders, lenders, foundations, and the Board of Directors.

• Accounting and Audits: Supervise staff and consultants in the preparation of audits, ensure tax returns are filed accurately and on-time, and maintain compliance with legal, regulatory, and nonprofit best practices.

• Impact Measurement: Oversee impact and outcomes measurement in alignment with GMHF strategic plan and CDFI best practices.

 

Capital Fundraising and Management

 

• Stakeholder Representation: Strategic ambassador to financial partners and lenders.

• Investment Management Oversight: Oversee investment management activities for GMHF reserves and non-deployed capital, communicating regularly with the investment advisor on performance and cash flow needs. Recommend asset allocation and investment policies to the Board of Directors and CEO.

• Financial Due Diligence and Development Support: Participate in development activities, acting as the point of contact for financial due diligence with funders and lenders, and negotiating and ensuring consistency in funding and loan agreements.

 

Effective Team Leadership

 

• Building Trust and Communication: Cultivate a trusting environment where team members freely share ideas and concerns. Lead with transparency, active listening, and consistency.

• Setting Clear Goals and Expectations: Develop team objectives that advance broader organizational goals; establish manageable steps with measurable outcomes to ensure clarity and track progress.

• Empowering and Developing Team Members: Nurture team to grow through opportunities and assignments such as training courses, seminars, mentorship, coaching, and challenging tasks that encourage team members to grow in their responsibilities.

• Promoting Teamwork and Collaboration: Foster a collaborative, inclusive work environment that values diversity of thought and encourages effective teamwork across the organization. Promote respectful and constructive debate and address conflicts promptly with a solution-focused approach

 

THE IDEAL CANDIDATE

 

The ideal candidate is a strategic, mission-driven finance leader who brings deep experience across lending and capital markets, whether from the private sector, government agencies, or other CDFIs, and understands how shifts in revenue and capital streams impact an organization as a whole. They are an exceptional team leader who develops and empowers a high-performing finance and accounting department, ensuring clarity, alignment, and strong execution on key deliverables. As a curious and adaptable communicator, they confidently represent GMHF to external partners, cultivate national networks, and translate complex information into clear insights for staff and the Board of Directors.

 

Above all, this leader brings a strong track record of delivering on organizational goals by setting measurable objectives, assessing financial and compliance risks, and guiding teams to make informed, strategic decisions that advance GMHF’s mission.

 

While no one candidate will possess all criteria below, the ideal candidate demonstrates many of the following professional and personal abilities, attributes, and experiences.

 

• Bachelor’s degree or equivalent experience in a related field.

• 10+ years of experience in a multi-faceted organization with senior level experience.

• Experience and expertise in finance, budgeting, accounting, institutional investments, capital markets, business management, strategic financial and organizational planning.

• Proven record of team development and team leadership.

• Demonstrated experience as a collaborative management team member with the ability to represent the finance department as a strategic thought partner to CEO, Board of Directors and other senior leaders.

• History of managing growth and aligning operations to support strategic business priorities.

• Knowledge of real estate development.

• Experience in community relations, board relations, management teams, and client relations.

• Excellent interpersonal, verbal, and written communications skills.

• Strong time management, prioritization, and delegation skills.

• Innovative thinker and ability to pivot to emerging opportunities and challenges in an entrepreneurial organization.

• Expert proficiency in relevant Microsoft Office applications, particularly Word, Excel, and PowerPoint.

 

COMPENSATION, BENEFITS, LOCATION

 

The expected compensation for this role is $190,000 – $275,000. The actual base salary will be determined on a case-by-case basis and may be adjusted based on the following considerations: job-related knowledge and skills, location, and experience. GMHF offers a comprehensive benefits package including medical/dental insurance, retirement contribution, short- and long-term disability, life insurance, flexible spending accounts, and paid holidays, vacation, sick and other leave. The primary office is in St. Paul, MN. This position offers a hybrid work schedule, including the ability for some remote work combined with on-site work.