Park City, Utah
Chief Financial Officer Job Opening in Park City, Utah - Position Specification ? Chief Financial Officer
PECO Real Estate Partners (PREP)
With a legacy of transforming retail properties, PECO Real Estate Partners (PREP) has the expertise and experience to optimize retail property value. PREP has incorporated Phillips Edison & Company's former development and strategic retail divisions and focuses on the acquisition, repositioning and management of power and lifestyle centers, enclosed malls, mixed-use retail projects and single-tenant developments. PREP is a fully integrated real estate operating and asset management company. The company has expertise in every discipline of retail shopping center operation and management. Through the execution of a focused investment strategy, PREP identifies optimal target locations and leverages its management team's long-standing relationships with brokers, property owners and retail tenants, to identify and capitalize on development and redevelopment opportunities.
PREP offers two divisions with highly specialized teams:
The Strategic Investment Funds (SIF) team focuses on complex properties such as power centers, enclosed malls and mixed use projects.
The Net Lease Investments (NLI) team focuses on single-tenant projects.
PREP is well capitalized and prepared to build a significant portfolio of net lease and strategic investment assets with significant opportunities to create meaningful value.
The CFO Role
PREP is seeking an experienced Chief Financial Officer who will be responsible for providing hands-on leadership in managing the balance sheet and risk exposure of the company, capital raising, investor relations, reporting and the accounting and tax functions. The position will report to Michael Phillips, Chief Executive Officer, and will be a key member of PREP?s Executive Management Team. The CFO will play a key role in implementing the company?s future growth plans.
The CFO will examine how to enhance growth, profitability and value creation by evaluating internal operations, cash management strategy, the effective use of corporate assets, and by understanding the financial and operational needs of a growing business. In addition, the new Chief Financial Officer will have accountability for building and leading a skilled finance staff, increasing the overall financial acumen of the company, and assuring that the finance & accounting functions remains fundamentally excellent to attract and retain top professional talent.
The CFO position requires a top 50 University undergraduate degree and top 25 MBA or equivalent significant retail real estate experience. A strong finance and institutional investor reporting background and strong banking and capital markets relationships are required. The ideal candidate is employed as a CFO, Director of Finance, or Treasurer in a retail real estate company and has 15+ years total experience. A work history that includes retail experience in the mall sector is required, public company experience is preferred.
Key Responsibilities:
Develop and implement a long-term Strategic Finance Plan for the company
Manage banking and other permanent lending relationships including credit facilities and commitments
Manage the Company?s balance sheet and risk exposure
Source, structure and negotiate new loans to support a significant growth pipeline.
Execute on acquisition financing, refinancing and disposition activity
Lead cash management and debt compliance activities including liquidity, working capital and related reporting
Provide leadership to the FP&A team in providing analytical support to various lines of business
Manage overall debt of the portfolio including interest rate exposure, lines of credit, corporate recourse, and access to the debt markets
Develop plans to improve the financial acumen of the operations consistent with the needs of the Strategic Finance Plan
Appraise the organization's financial position and issue periodic reports on organization's financial stability, liquidity, and growth
Investigate and initiate alternative debt strategies
Expand forecasting in conjunction with debt compliance covenants
Organizational tax planning and transactional tax strategies
Manage cash balances to meet distribution goals
Operational analysis to identify issues and determine the financial impact on operations and leasing
Develop the long-term fund raising capability for all PREP capital needs.
Manage all investor relations and reporting, maintain and grow the existing investor base, provide timely and accurate reporting, solicit interest in additional investment opportunities, monitor investor returns and communicate with investors
Candidate Profile
The Chief Financial Officer will have proven track record of comprehensive financial, accounting and capital markets leadership. He or she will be an outward focused financial relationship builder who can introduce new opportunities for the Company while increasing the financial acumen of the organization. The ideal candidate profile will include substantial retail real estate and capital experience.
Specific Candidate Requirements
15+ years of relevant real estate financing experience with a proven track record of executing complex project and organizational level transactions
Strong management experience leading teams of reporting, accounting, tax, capital, and FP&A professionals
Exceptional references including a positive referral from a former CEO and an outstanding reputation in the banking community
Leadership confidence and ability to embrace conflict and manage associates at all levels including multiple department heads
Exceptional analytical, negotiation and presentation skills
MBA or equivalent advanced degree or equivalent real estate experience
The ideal candidate is employed as a CFO, Director of Finance or Treasurer in a retail real estate company, and has at least 15 ? 20 years of total financial experience
Willingness to travel to New York and other financial centers and attend industry trade shows and deal making events
Willingness to relocate to a corporate office in Park City, UT or Cincinnati, OH
Personal Competencies & Values
Business Acumen
Executing for Results ? must be reliable, hard-working, pragmatic and results oriented with capacity to deliver impact
Leading Teams ? must be honest, loyal, and thoughtful
Building Relationships and Using Influence ? must have excellent listening skills and the ability to mobilize stakeholders and build cooperation at all levels
Job Type: Full-time
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