Role & Primary Responsibilities
The Senior Accountant will report to the Chief Financial Officer and will have primary responsibility for day-to-day accounting functions including financial reporting, cash management, budgets, bank draws, lending activities and other projects as assigned across various platforms within the company’s portfolio. Additional responsibilities include functions associated with financial planning and analysis, asset management and corporate reporting. Responsibilities include, but are not limited to, the following:
- Transaction Accounting:
- For acquisitions:
- Obtain an understanding of the investment and business plan
- Timely recording of the acquisition journal entry
- Ensure that Yardi, banking, leasing, and debt service items are appropriate established
- For dispositions:
- Timely recording of the disposition entry
- Assist the Senior Director of Finance and Accounting with close-out procedures, which may include determination of distributions, consideration of remaining payables, and collection of fees
- Full-cycle accounting associated with all components of platform-specific accounting operations. This includes:
- Timely posting of rent collection
- Completion of bank reconciliations
- Accurate and timely payment of debt service obligations
- Accurate and timely posting and/or payment of internal fees
- Accurate and timely accounting for all operating and development payables
- As necessary, assistance with annual CAM reconciliation procedures.
- Completion of monthly close procedures for all assets within 20 days of month-end with subsequent delivery of required lender reporting packages within the timeframes outlined within respective loan agreements.
- Completion of annual close procedures, including income pick-ups, and tax packages within 45 and 60 days of year end, respectively.
- Timely payment of annual property taxes.
- Oversight and facilitation of accounts payables and accounts receivables processes.
- Assist in the preparation of periodic outside investor reporting, including any audit procedures.
- Assist with any other projects or tasks that should arise in conjunction with the accounting for the Company’s various portfolio operations.
- Liaise with asset management, property management, and lease administration personnel regarding property accounting and operations, as needed.
- Development Accounting:
- For assets under development preparation of monthly capital call and bank draw packages, including reconciliation to development budget, reconciliation to checks etc.
- Clear and accurate understanding of the business plan and budget for each asset with specific regard to the timing and source of capital to be expended toward execution of the business plan.
- Maintenance of clear and accurate records for all development accounting activities such that the users of such information (e.g., developers, construction team members, and other members of the finance/accounting team) are able to execute their respective responsibilities.
- Assist developer and construction team members in tracking costs incurred to date relative to budget, with regard to both overall dollars spent as well as source of such funds.
- Track and ensure collection of development-related fees.
- Assist development groups when necessary by researching and responding timely to their needs.
- For acquisitions:
- As capacity allows, assist with accounting functions applicable across the company’s various platforms.
- Work with Senior Director and Director of Finance and Accounting on corporate reporting matters.
- Assist with the preparation of annual property budgets, as needed, as well as periodic review of budget to actuals in conjunction with monthly close procedures.
- Assist in calculation, billing and collection of fees associated with corporate asset, construction and development management functions.
- Assist in financial planning and analysis and asset management functions, where applicable.
- Assist in the continued development of policies and procedures focused on the finance and accounting functions.
- Bachelor’s degree in Accounting or Finance required. Master’s degree a plus.
- CPA or CPA-candidate preferred.
- 2 to 5 years related experience, preferably with commercial real estate development and property management.
- Public accounting experience a plus.
- Strong analytical and problem-solving skills required.
- Proficiency in Excel and Yardi preferred.