NATALIE PHILLIPS

Joined the Wilcox team to fulfill their newly created controller position. Wilcox Communities was a young company formed to develop, construct, and manage multi-family residential real estate. At that point they were in the early stages of managing the first few communities they had built. Property accounting was utilizing a new system called Entrata by staff who had never studied or had training in the accounting field. The positive momentum created by the success of the first developments fueled a very aggressive development pipeline that was about to materialize into a period of exponential growth. Strategic development of the finance/accounting department was essential in turning that potential growth into a successful reality. The positive changes could fill volumes but the main highlights are :

Developing the essential accounting functions and processing out of the crude building blocks in the new Entrata software.

• Providing a proper chart of accounts for rental real estate operations.
• Designing and revising financial financial reports in consultation with the executive team to ensure they received adequate information to meet their objectives.
• Continual evaluation of monthly reporting to identify areas where reporting was inaccurate or incomplete, determine the cause, and train staff in the proper procedures to correct reporting errors.
• With continued diligence, the resulting system is currently well-functioning and provides efficient and reliable reports.

Evaluating the state of financial monitoring and reporting for the development/construction part of the business, consulting with the development group to determine what their needs were, and developing a system to meet those needs.

• The results of this project are particularly remarkable. Early team meetings revealed significant construction budget overruns that no one could easily identify the cause. Supply chain disruptions from Covid were creating massive costs overruns across the board and ownership needed to determine how to fund extremely significant shortages but they couldn't project the timing and amounts to be able to plan accordingly.
• A new system was built from the ground up and the current system provides accurate detailed information of the variances between budgeted and actual costs and projections of monthly costs throughout the entire construction timeline updated on a monthly basis.
• This has been invaluable to the executive function. Any critical issue is identified well in advance and monthly meetings are quick updates that highlight any unexpected changes.
• Information provided has helped improve the budgeting function for new projects which will greatly impact the continued development of new projects and avoiding significant issues created by either overcapitalizing or undercapitalizing development projects in the early stages

Modernized the monthly financial reporting distributions that was initially distributed in numerous separate emails containing large attachments, to the creating of a dedicated secure website where both current statements and all prior archived statements are accessible and indexed for easy access all from a single screen

• Manages the development accounting team responsible for approximately $250 million of assets comprised of approximately 125 separate projects across all stages of development
• Ensures accurate and timely financial reporting at the individual project level
• Provides timely payment and accurate recording of all project expenses, which includes management & reconciliation of about 100 bank accounts
• Accurately plans development cash needs including determining the appropriate timing and optimal use of available funding sources
• Oversees month-end closing, prepares financial statements, and manages complex reconciliations for each project
• Facilitates annual financial statement audits and reviews results
• Coordinates individual monthly construction progress or “draw” meetings with all interested parties (construction team, architects, engineers, investors, etc)
• Completes the comprehensive draw package which includes a complete financial summary of the progress of the project, review of budget/projections and reports prepared by the architect and/or engineers.
• Ensures timely submissions of draw package to financial partners and provides follow-up support, ensuring that requested funding is received promptly
• Participates in all of the construction loan and equity closings for each project.
• Performs a comprehensive financial review of current financials, development budget, total projected project costs and timing of a complex funding source structure
• Collaborates with lenders, investors, housing agencies, attorneys, title company and other interested parties to complete due diligence
• Performs review of contracts and various agreements and loan covenants in order to manage risks and advocate for the financial interests of the owners in closing negotiations
• Meets with the construction and corporate controllers on a weekly basis on company-wide cash management plan, which requires a comprehensive understanding of the financial operations of the entire company and ability to develop and implement complex strategies to meet those needs
• Participated in executive board meetings regarding company-wide strategy, planning, and management
• Woda Cooper Development Inc is a division of Woda Cooper Companies that collectively develop, build, and manage real estate, specializing in Low Income Housing Tax Credit (LIHTC), HUD, & RD programs.
• Financial Management & Leadership
• Management of draw process for construction projects - a crucial element in company-wide financial strategy and operations
• Closing of New Deals
• Intra-company collaboration

• Managed financial reporting for several clients in varying industries
• Excelled in client service and advisement utilizing effective communication, experience, problem-solving skills, and creative-thinking

• Performed various accounting duties ranging from basic accounting to CFO-level functions for several small to medium sized businesses
• Maintained accounting ledgers by posting monthly account transactions
• Prepared adjusting and closing entries, statements, and analyzed financial operations as required.
• Prepared monthly and/or annual financial statements as required by clients' business needs or loan covenants
• Provided accounting system consulting, setup, and training
• Provided payroll services
• Implemented Google Apps for Business suite of products
• Identified client business and operational needs and introduced services to provide solutions

• Accepted a position with the newly-formed RMG Financial Group as their first (and only) employee
• Solely developed and managed all functions required to run the business, which included a great deal of independent learning & research
• Passed the Series 7 General Securities Representative exam in order to make trades for client accounts
• Presented a plan to replace our company medical plan with a Section 125 Cafeteria Plan, received approval from management, and implemented the change which resulted in savings of payroll taxes for both companies and income taxes for participating employees

• Responsible for all financial and accounting functions for the small marketing firm.
• In addition to the day-to-day entries, and general cash & financing management, I had to completely overhaul the accounting system and investigate & repair a couple years of accounting errors, omissions, and account reconciliations.

• Performed auditing and financial statements of multi-family housing projects participating in LIHTC, HUD, and RD programs
• Recognized for the ability to deal with clients in a professional manner and for proficiency in handling difficult or unusual accounting & auditing issues
• Received promotions to positions of increasing responsibility, becoming the youngest senior audit manager in the company
• Lead nearly one hundred audit engagements each year
• Managed staff, including hiring, training, assigning appropriate staff to engagements, and supervising/reviewing their work
• Highly skilled in the drafting and preparation of professional-looking and accurate financial statements
• Developed corrective action plans with client to address identified deficiencies