Senior Financial Accountant

PIDC / Careers / Senior Financial Accountant

DEPARTMENT: Financial Reporting & Accounting

REPORTS TO: Vice President, Financial Reporting & Portfolio Management

ORGANIZATIONAL DESCRIPTION

Philadelphia Industrial Development Corporation (PIDC) is Philadelphia’s public-private economic development corporation. Our mission is to spur investment, support business growth, and foster developments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. We achieve our mission through a diverse range of financing products, real estate solutions, and business support services. You can learn more about PIDC at pidcphila.com.

PIDC is committed to driving transformative growth for Philadelphians with a human-centered approach by directing our financial and real estate services, knowledge, and networks toward creating a vibrant and sustainable Philadelphia. To achieve this mission, PIDC focuses on five areas:

  • CAPACITY: Create and sustain internal capacity and external partnerships to scale the availability and breadth of economic development resources to clients.
  • CAPITAL ACCESS & SERVICES: Expand financing and business support services to benefit communities that have difficulty accessing capital.
  • LAND USE: Catalyze development of projects that create quality jobs and advance economic growth.
  • KNOWLEDGE AND NETWORKS: Share knowledge and networks to respond to clients, partners, and market needs.
  • EMPLOYEE WELL-BEING: Elevate the physical, mental, and financial well-being of PIDC employees and provide opportunity for each to thrive and grow professionally.

PIDC is governed by a thirty-member Board of Directors, appointed by the Mayor of Philadelphia and the President of the Greater Philadelphia Chamber of Commerce.  The staff includes approximately 60 full-time employees, and PIDC’s current 12-member senior leadership team has a combined 120+ years of experience at PIDC. The organization’s annual budget of approximately $12M is funded by a combination from fees generated by PIDC’s transaction activities, service and management contracts, and contributed revenue.

Over the past 65+ years, PIDC has settled over 13,800 transactions with a diverse range of clients — including over $21 billion of financing and 3400+ acres of land sales — which have leveraged tens of billions of dollars in total investment and assisted in retaining and creating hundreds of thousands of jobs in Philadelphia. 

POSITION SUMMARY

The Senior Financial Accountant is responsible for supporting the Vice President, Financial Reporting & Portfolio Management with the preparation of all externally distributed financial reports with respect to the Philadelphia Industrial Development Corporation and its affiliates (together PIDC) and the companies PIDC manages (currently the Philadelphia Authority for Industrial Development, The Navy Yard, and New Markets Tax Credit entities). This includes the preparation of year-end and quarterly financial statements and certain information given to the City of Philadelphia, lenders, and others, as well as the year-end audits and applicable tax filings. This position will ensure financial statements and processes are updated for current accounting requirements and ensure compliance with Generally Accepted Accounting Principles (GAAP) for nonprofit organizations and governmental units and other technical accounting requirements. This position is also responsible for supporting the compliance of governmental programs in accordance with Office of Management and Budget (OMB) Circular Uniform Guidance. The role also is responsible for certain functions relating to the servicing of PIDC’s loan portfolio, including, but not limited to, loan disbursement processing, loan payment processing, loan payoffs, and other loan adjustments in the loan servicing system (Portfol).

KEY RESPONSIBILITIES

External Reporting

  • Preparation of all externally distributed financial reports and information.
  • Coordinate the reporting activities with accounting and product groups to assure that various reporting deadlines are met.
  • Maintain current knowledge of Financial Accounting Standards Board (FASB), Governmental Accounting Standards Board (GASB), and other authoritative pronouncements and analyze their impact on reporting.
  • Research accounting rules and regulations and make recommendations regarding company policy. Provide support and assistance to external auditors when necessary.
  • Serve as a subject matter expert on complex accounting, financial reporting, and business matters, providing technical guidance and recommendations to support informed decision-making.
  • Evaluate reporting and accounting policies and procedures, and the control environment to ensure PIDC utilizes best accounting practices. Recommend and implement changes to ensure that the organization is in compliance with OMB Uniform Guidance and other regulatory initiatives.
  • Assist with the completion of the financial statements and required disclosures/footnotes.
  • Support tax preparations and ensure the returns are submitted on time.
  • Assist with the preparation of materials for the Board and relevant committees

Audit Support

  • Perform the monthly and quarterly reconciliations, including loans receivable, notes payable, intercompany, fixed assets, investments, accrued interest income and expenses, and others as needed.
  • Perform quarterly financial analytics, including deferred revenue, financial statement variance analysis, etc.
  • Perform quarterly valuation analyses of key areas, including allowances for loan losses, investments, and others as needed.
  • Support year-end close through the completion of annual audited consolidated financial statements and the preparation of multiple Form 990s and related tax filings.
  • Preparation of quarterly financial statements with variance analysis and analytical procedures for the VP, Financial Reporting & Portfolio Management to review.

Loan Accounting & Reconciliation

  • Perform timely and accurate loan recording and reconciling within the loan servicing system, Portfol, including disbursement and repayment as well as reconciling the loan balances to the accounting system, Business Central.
  • Support the VP, Financial Reporting & Portfolio Management in ensuring accurate accounting for all portfolio loans, noting where input from the SVP and Chief Credit Officer is needed regarding the impaired loans inventory to support the calculation of allowance for loan loss according to the FASB issued Accounting Standards.

Other

  • Participate in special projects as needed.
  • Manage ad hoc projects as directed.
  • Ensure assigned projects and departmental milestones are completed within established timelines, organizational objectives, and approved budgets.
  • Support the VP, Financial Reporting & Portfolio Management with special projects and workflow process improvements.
  • Assist the VP, Financial Reporting & Portfolio Management and the EVP & CFO in conducting regular portfolio reviews and analysis, between Portfol and Business Central, to identify opportunities and concerns.
  • Coordinate with PIDC’s Capitalization and Impact team to support financing applications and provide timely and accurate data for stakeholder reporting and compliance.
  • Maintain effective communication and coordination with other PIDC departments.
  • Other duties as assigned.
CORE COMPETENCIES
  • Financial & Technical Expertise – Strong knowledge of financial reporting, accounting standards, audit requirements, and regulatory compliance.
  • Strategic & Analytical Thinking – Uses financial and portfolio data to identify risks, evaluate performance, and support sound decision-making.
  • Portfolio & Risk Management – Effectively monitor loan servicing, portfolio performance, compliance, and organizational risk.
  • Communication & Collaboration – Communicates effectively and works collaboratively across teams, leadership, auditors, investors, and other stakeholders.
  • Accuracy & Accountability – Demonstrates strong attention to detail, organization, sound judgment, and ownership of results
QUALIFICATIONS
  • Must be a Philadelphia, PA resident or willing to relocate within six months of hire.
  • Bachelor’s degree in accounting and / or finance, required.
  • 7 or more years of accounting experience including audit, required.
  • Proficiency in US GAAP and GAAS, Governmental Audit Standards, and Single Audit.
  • Strong technical accounting knowledge and skills.
  • Proficiency in the use of accounting systems, required. Knowledge of Business Central, preferred.
  • Experience with Microsoft Office Suite (Word, Excel, PowerPoint) and Microsoft Outlook. Proficiency in Excel, required.
  • Experience servicing loan portfolios, including disbursement and payment application. Knowledge of loan servicing software and Salesforce, preferred.
  • Solid analytical and problem-solving skills.
  • Excellent communication skills (written and verbal).
  • Strong attention to detail and is highly organized.
  • Demonstrated ability to work independently with minimal supervision while collaborating effectively with internal teams and leadership.
  • Commitment to, and enthusiasm for, PIDC’s mission to attract investment, jobs, business growth, and development to help improve the quality of life in Philadelphia

To apply, please email resume and cover letter to and include the role/position in the subject line of the email.

PIDC promotes a culture of inclusion and prohibits discrimination in any employment or promotional practices on the basis of race, color, sex (including gender identity, sexual orientation, and pregnancy), religion, national or ethnic origin, age, disability, veteran status, or any other legally protected factor.