Financial Controller

Scott A. Schaffer

Lumberton, NJ ***** 609-***-**** *************@*****.*** www.linkedin.com/in/scottschaffer6

Financial Management & Leadership Profile: Controller

Extensive experience in leadership of financial, operational, and team management activities.

Long-running track record of key contributions to planning, profit, and performance goals.

2012 New Jersey Apartment Association Corporate Employee of the Year Award.

2012 Lawrence Township, NJ Residential Award: Property & Neighborhood Improvements.

Overview:

Financial management professional with a broad range of skills in financial and business functions. Astute forecaster and rigorous financial analyst with a sound decision-making background. Consistently effective in ensuring a strong bottom-line performance. Success in implementing systems, tools, and procedures to create solid financial frameworks. Provide solid leadership for internal teams and strong relationship building with partner companies.

Selected Knowledge & Skill Areas:

Strategic Planning & Execution / Team Building & Leadership / Financial Reporting / Cost Reduction & Avoidance / Financial Forecasting & Modeling / Regulatory Compliance / Accounting Policies & Procedures / Internal & External Audits / In-Depth GAAP & FASB Knowledge / Risk Mitigation / Contract Negotiations / Strategic Partnerships

Professional Experience

PRD MANAGEMENT, INC. – Cherry Hill, NJ

Professional property management firm for fee-based entities and owner entities of affordable, LIHTC and conventional apartment communities; clients include for-profit entities, not-for-profits, and Municipal Housing Authorities.

Controller (1982-2018) Regional Manager / Controller (1986-2015)

HIGHLIGHTS:

Drove multiple cost saving initiatives that included the following: 18% annual savings by aggregating all insurance into group insurance; decrease in resident AR from $35,000 to $7,000 in 12 months; monthly savings of $1,500 to $6,000 through group purchase of 3rd-party utility commodity purchases; audit costs typically 20% below market costs; and annual savings through $80,000 in energy conservation upgrade.

Increased rental revenue at 1 location by $900,000 in a single year and improved apartment rental revenues by 300% over a 12-year period.

Maintained record of zero federal audit findings reported over a 30+-year period, coordinating the annual audits with 6 different independent auditing firms.

Played key role in helping company transition from company intranet to cloud-based software in 2014, with final conversion costs coming in under budget.

Secured federal grant for the acquisition and rehabilitation of 15 scattered site houses, managing the construction process through final HUD closing.

Established entity accounting procedures/policies and internal control systems as well as management policies and procedures approved by HUD/NJHMFA for entities.

Achieved debt refinancing and re-capitalization of $15 million via HUD 241a and 223f loans.

OVERVIEW:

Strategic Planning

-Collaborated with owners to develop strategic plans for the next 15 years, including capital expenditures and improvements as well as government contract renewals and potential debt refinancing/sales.

-Contributed to corporate plan for consulting service growth, along with creating a 3-tier standard apartment turnover replacement procedure with a vendor supply house.

Accounting & Cash Management

-Managed the AR process, including delinquent amounts due, and the AP process, including approval for selected purchase orders and invoices along with check signing authority. Initiated and maintained all internal accounting policies and procedures.

-Oversaw financial records for 24 entities, including comparative income statements and balance sheets, budget vs. actual analyses, trend analysis, and forecasting analysis against Key Performance Indicators (KPIs) and Key Performance Measurements (KPMs).

-Managed 80+ bank accounts, including transfers/wires/ACH, new accounts, and check signing activities. Handled cash flow management, including oversight on monthly federal subsidies. Reviewed and approved all bank reconciliations completed by others.

Team Leadership

-Managed, trained, and mentored team of 4 accounting professionals, 15 remote locations office staff, and an administrative assistant. Provided ongoing coaching and support to improve team performance.

Corporate

-Managed corporate financial records, including wire payments through monthly financial reports (budget vs. actual income statement, balance sheet, comparative I/S and B/S, and cash flow projections among others).

-Oversaw the property portfolio, liability, and other ancillary insurance for the portfolio. Served as a liaison with federal, state, and other regulatory officials as well as equity owners on 18 separate corporations.

Auditing

-Coordinated external audits, review audits, and federal grant audits. Conducted internal annual audits, including government compliance audits, as well as approving electronic submissions to government agencies.

-Reviewed auditor qualifications and proposal analysis, finalized all supporting documentation, responded to all A133 audit questions, conducted comparative reviews of accounts, and approved online submissions to govt. reporting agencies (e.g. HUD REAC, HFA, and Federal Clearing House among others).

Contracts & Purchasing

-Negotiated contracts for large capital expenditures (e.g. 600+-window replacement), oversaw 3rd-party utility commodity purchases for 2-5 year cycles, and managed contracts for benefits, maintenance, and other items.

Insurance

-Managed insurance COPE historical forms and all insurance risk assessment and insurance claims for the entire portfolio. Modified maintenance contract language to shift first liability to vendor (secondary responsibility to owner entity). Collaborated with 3rd-party HR department on benefit renewals and payment processing.

Regional Management

-Trained and managed remote office staff across 15 locations of as many as 1700 apartment units, as well as training and managing on apartment community budget preparation.

-Negotiated capital contracts with vendors, approved purchases over $1,500 and invoices over $1,500, and served as a liaison with federal and state government officials.

Education & Credentials

Bachelor of Science (BS) in Business Administration- Accounting – Bloomsburg State College – Bloomsburg, PA

Certifications/Licenses – National Affordable Housing Professional (NAHP-e); Specialist in Housing Credit Management (SHCM); Accredited Realty Manager (ARM), Institute of Real Estate Management; Certified Professional of Occupancy (CPO); Fair Housing Certification; Real Estate License

Affiliations – JAHMA: Board Treasurer, Board Member, Communities Quality Review Certifier, Chairman of the Foundation Scholarship Committee; Financial Consultant: St. Joseph Carpenter Society, Together, Inc. (non-profit social service agency); PA/HUD: Task Force Member; Crossroads Programs, Inc.: Board Member & Treasurer; Lumberton Youth Association: Founding Board Member/Treasurer

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