What are the responsibilities and job description for the Manager - Property and Development Accounting - Mixed Use position at Hines and Careers?
Overview:
While our projects are renowned for enhancing cities and pioneering sustainable practices, we recognize that the true driving force behind Hines' success is our 5,000 dedicated employees in 30 countries who draw on our 65-year history to build the world forward. This is why we prioritize investing in our people, offering comprehensive training, competitive compensation, robust benefits and generous vacation packages. By centering our focus on the growth and wellbeing of our team, we cultivate an inclusive environment where everyone, including our clients, can thrive.
Hines is proud to be named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2024. ¹Includes both the global Hines organization and RIA AUM as of December 31, 2023.
We are an equal opportunity employer and support workforce diversity.
No calls or emails from third parties at this time please.
When you join Hines, you will embark on a career journey fueled by vision and guided by leaders who set the standards of our industry. Our legacy is rooted in innovation and excellence, earning us a spot on Fast Company’s esteemed annual list of the World’s Most Innovative Companies, as well as recognition as one of U.S. News & World Report’s Best Companies to Work For in 2024. Discover endless opportunities to grow and make your mark at Hines.
Responsibilities:
As a Manager - Property and Development Accounting - Mixed Use with Hines, you will ensure the accuracy and propriety of all financial data and reports maintained and prepared for the properties/projects, tier entities, and investors. Responsibilities include, but are not limited to:
- Works closely with applicable Hines personnel (e.g. Property Manager, Project Manager, and Staff & Senior Accountants) to ensure accuracy of financial reporting, construction draws (if applicable) and budgets.
- Communicate and coordinate with appropriate representatives of external parties.
- Treasury functions including review of bank reconciliations and cash flow projections
- Review funding request to investors.
- Review and coordinate approval of reserves and write offs in accordance with governing agreements.
- Review lease abstracts and other related lease administration documentation ensuring proper lease accounting treatment per GAAP or other basis of accounting. May process lease administration for more complex leases.
- Review calculations of estimated operating and tax expense recovery billings for new/amended leases. Provide oversight and guidance to Accountant/Senior Accountant for more complex leases/calculations. May prepare for very complex leases/properties.
- Review operating and tax expense reconciliations (true-ups) as required per governing documents (leases, management agreement, etc.).
- Ensure records are being maintained timely, accurately and in compliance with GAAP or other basis of accounting. Special consideration to areas such as debt modifications, acquisitions/dispositions, interest capitalization, etc.
- General ledger review and analysis.
- Assist in Property and Hines Annual Plan/Budget/Projection preparation process providing oversight and guidance to Accountants. Reviews schedules/reports prepared by Accountants.
- Coordinate audits (external, internal, tenant, etc.) and review information for these audits, as needed. May prepare information for more complex accounting areas.
- Review monthly/quarterly financial statements and supporting schedules working closely with the Property/Project Manager and Accountants to ensure accuracy.
- Review quarterly debt compliance, if applicable, including compliance certificates and DSCR/Debt Yield calculations in accordance with loan documents. May prepare for more complex debt structures.
- Prepare reports for upper management and external users as well as other significant internal reports (e.g. investment performance templates).
- Research accounting guidance and draft position memos documenting accounting treatment of new/unusual items.
- May assist Asset Manager with maintaining Argus models or reconciliations between Argus model and Property Budget/Projections.
- Assist in supervision and training/development of Accountants.
- Prepare and teach/lead various Hines training courses to Accountants.
- Assist in completing Mid-Year/Annual reviews and compensation recommendations for direct reports, as applicable.
- Assist in due diligence process related to property acquisitions and dispositions or other special projects as assigned.
- Coordinate/manage the setup of new projects with guidance from Controller and assistance from Accountants. This could include setting up the property in JDE (or similar software), opening bank accounts, reviewing rent start letters and preparing and/or reviewing acquisition accounting schedules/entries (FAS 141/142 purchase accounting, straight-line rent, revenue models).
- Carry out the proper procedures to ensure internal controls are being met.
- Prepare tax projections and tax preparation workpapers.
- Work with Controllers to determine issues and needs of department.
- Ability to manage multiple assignments.
Minimum Requirements include:
- Bachelor’s degree in accounting from an accredited institution.
- CPA designation (or intention to work toward CPA designation) is preferred.
- Five or more years of professional accounting experience.
- Public accounting experience is strongly preferred.
- Commercial real estate experience is strongly preferred.
- Previous supervisory experience is required.
- Work indoors approximately 100% of the time.
- Ability to lift general ledgers, files, records, and computer paper (approximately 5-35 lbs.).
- Work overtime as business needs deem appropriate.
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Compensation
- Houston - will be determind based experience
- Chicago - $105,000 - $115,000
- Los Angeles - $110,000 - $125,000
- San Francisco - $120,000 - $135,000
At Hines, we strive for excellence as a leading global real estate investment manager, driven by our by our belief that real estate is fundamentally about people. Our diverse portfolio spans $93.2 billion¹ of assets across such property types as living, office, retail, mixed-use, logistics and life science projects – all designed to enhance value, connection and inspiration. Our strategic approach integrates local expertise with global knowledge, taking calculated risks aligned with our convictions to exceed expectations and tailor solutions to our clients' needs.
While our projects are renowned for enhancing cities and pioneering sustainable practices, we recognize that the true driving force behind Hines' success is our 5,000 dedicated employees in 30 countries who draw on our 65-year history to build the world forward. This is why we prioritize investing in our people, offering comprehensive training, competitive compensation, robust benefits and generous vacation packages. By centering our focus on the growth and wellbeing of our team, we cultivate an inclusive environment where everyone, including our clients, can thrive.
Hines is proud to be named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2024. ¹Includes both the global Hines organization and RIA AUM as of December 31, 2023.
We are an equal opportunity employer and support workforce diversity.
No calls or emails from third parties at this time please.
Salary : $105,000 - $135,000