Your Property Accounting experience can be leveraged for growth and impact within a mature and evolving real estate investment / management business.
What Makes this Opportunity Awesome:
- Join an organization with an incredibly stable and profitable track record of success
- A recent top-down restructure gives this position tons of visibility and interaction with key stakeholders at both the financial and operational level
- Excellent work-life balance
Primary Objectives and Responsibilities:
Reporting to the Corporate Controller, the successful candidate will apply (GAAP/accrual) accounting principles and procedures to all aspects of accounting and deliver accurate monthly financial reports for real estate properties and consolidated entities. A key focus of this role will be addressing the reporting and operational issues of external Property Managers.
This position will review property operations and become familiar with each properties’ status in relation to their respective budgets and operational issues. Work closely with Controller, VP of Finance, internal Asset Managers and external Property Managers and JV Partners.
- Review monthly financial reporting packages prepared by Property Managers, including: financial statements, general ledgers, budgets, bank and account reconciliations, bad debt allowance, cash flow projections, rent roll, and job costing reports.
- Communicate with Property Managers regarding issues related to accounting, i.e. tenant receivables, wire payments, job costing, etc.
- Review annual CAM reconciliations prepared by Property
- Work with Asset Managers to coordinate timing of loan draw requests. Prepare and process loan draw payments. Maintain related job cost reports on a monthly basis.
- Prepare monthly/quarterly financial packages or other required reporting (DSCR, Debt Yield, etc) to lenders and JV partners, as
- Interpret escrow settlement statements and prepare related closing journal entries for property acquisitions or dispositions, loan refinancing, etc.
- Coordinate with Property Managers on annual budget preparation and review, including calculation of depreciation, amortization, debt service, insurance and CAM
- Maintain general ledgers including all monthly/quarterly journal entries, adjustments, account and bank reconciliations for assigned entities.
- Responsible for processing weekly Accounts Payable for assigned entities. Obtain proper approval and coding of invoices, initiate wire/ACH or check payment. Archive all A/P documentation accurately and timely.
- Prepare weekly cash requirement reports reflecting projected cash account sources and
- Ensure that all expenses, receipts, and other transactions have been accurately posted in each accounting
- Prepare consolidated financial statements quarterly for several
- Research and evaluate variances and provide detailed analysis/explanation.
- Assist with quarterly tax projections and tax payment
- Prepare annual tax packages and field requests/questions from tax preparers and
Bachelor's Degree (BS/BA) in Accounting
- Minimum 5-7 years of real estate accounting experience required -preferably with a mix of property management and construction/development job
- Demonstrated knowledge of GAAP and FASB regulations including strong understanding of financial and accounting terms and principals.
- Strong analytical skills and in-depth knowledge of lease language and CAM reconciliation
- Ability to comprehend, analyze and interpret complex documents (lease, loan and operating agreements).
- A hands-on, roll up your sleeves individual with a positive "can do"
- Experience interfacing with Asset Managers, Property Managers, JV Partners, Lenders, Auditors, Shareholders,
- Well organized and capable of multi-tasking on numerous
- Excellent written and verbal communication
- Advanced knowledge of Microsoft Office applications, especially MS
- Experience with real estate accounting software required - MRI