Property Controller, Residential

Must have Yardi exp.
-5-7 yrs experience in property accounting, but have a strong real estate background.
-Know how to do accruals & deal with capital stack, refinancing, financial statement prep, read mortgages, and deal with capital draws. Familiar with refinancing, debt/yield calc.
-Must have review exp

GAAP Experience Preferred.

We are looking for an Property Controller where you will work in an ambitious and growing environment. Under some supervision you will be responsible for the financial reporting and analytical review of the property owner entities, joint venture entities and certain entities that invest in the JV entity. You will prepare monthly, quarterly and annual financial reporting packages and other client reporting as required.
Background in Historical GAAP/FV financial reporting and experience with wholly owned assets and joint ventures; Residential or Commercial or other Property accounting experience
Essential duties and responsibilities:

Financial reporting packages:
Produces financial reporting packages and other required financial information and analytics for all property related entities as required. Financial reporting packages include the preparation of workpapers for all balance sheet general ledger accounts on a monthly or quarterly basis in addition to standard financial statements. Financial statements are prepared on the reporting basis determined by the client (i.e. US GAAP - Historical Cost or Fair Value). Works with client’s auditors for interim and year end audits; helps draft annual audit report.

Monitors Financial Performance:

Compiles, analyzes, and monitors financial data by performing detailed review of monthly property owner reports including but not limited to: operating statement variance reports, aged receivables, aged payables and capital expenditures variance to budget. Responsible for calculation of debt ratios in connection with loan covenants where required.

Treasury Function:

Supports the daily activities of cash management. Prepares monthly bank reconciliations manually recording journal entries for reconciling items if needed. Reviews cash balances to avoid shortfalls, prepares capital calls or loan draws for funding when needed and requested by client. Prepares distribution waterfalls and executes distribution when required. Manages cash security deposits and major property related payments including but not limited to debt service, municipal taxes, real estate taxes and ground rent if applicable. Ensures fees payable to management company are accurately calculated and paid timely.

Risk Management:
Supports senior team members in the management of risk and compliance activities.

Lease Administration:
Review lease abstracts and lease recurring charge set up. Prepares escalation/CAM calculation for income budgeting/billing estimates and annual true ups.

Customer Service:
Troubleshoots escalated issues and ensures internal and client requests are handled timely, accurately and with a focus on customer service. Participate in recurring meetings with the client, adding value where needed.

Job requirements

· Degree from a four-year college or university program with an emphasis in accounting, finance or related field required.

· A minimum of three years accounting experience or equivalent combination of education and experience required. Prior experience in real estate accounting and analytics preferred.

· Solid organization skills and analytical skills a must.

· Communicates clearly, effectively and concisely. Should have presentation skills, solid written and verbal communication skills.

· Requires intermediate knowledge of Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB) regulations including an intermediate knowledge of financial terms and principles to include accounting methods: cash, accrual, and GAAP.

· Ability to comprehend, analyze, interpret complex documents and problem solve.

· Requires intermediate analytical and quantitative skills, solid economics, math and analytical skills and ability to apply them.

· Knowledge of real estate terms, definitions, and real estate analytical methodology. Knowledge of company financial systems as well as internal and external information sources. Intermediate knowledge of computer software and hardware (i.e., Microsoft Office Suite Products with focus on Excel). Ability to work in multiple accounting and/or reporting software applications.

· Decisions made with understanding of procedures and company policies to achieve set results and deadlines.

Job Type: Full-time

Pay: $175,000.00 - $200,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Experience level:

• 5 years

Schedule:

• Monday to Friday

Supplemental pay types:

• Bonus opportunities

Education:

• Bachelor's (Preferred)

Experience:

• GAAP: 2 years (Preferred)
• Financial statement preparation: 2 years (Preferred)
• Property Accounting: 4 years (Preferred)
• Accrual accounting: 1 year (Preferred)
• Refinancing: 1 year (Preferred)
• Residential Real Estate Accounting: 3 years (Preferred)

Work Location: In person