Financial Controller

POSITION DESCRIPTION

Controller

Reports To: President / Owner

Department: Finance & Accounting

Employment Type: Full-Time, Exempt

Asset Classes: Residential (Single-Family/Condo), Multifamily, Mixed-Use

Target Start Date: On or before May 4, 2025

We are seeking an experienced Controller to lead the financial operations of a growing real estate development company with a diversified portfolio spanning single-family residential, condominium, multifamily, and mixed-use projects ranging from $100,000 to over $50 million in value. This is a critical leadership role, as the incumbent has held the position for 11 years and will be retiring in June 2025.

The Controller will be the senior financial officer responsible for all accounting, reporting, compliance, and internal controls. The ideal candidate brings deep real estate development accounting expertise — including job cost accounting, construction draw management, and investor reporting — and is comfortable operating as a hands-on individual contributor while building out a team as the project pipeline grows.

Financial Reporting & Accounting

•      Prepare accurate and timely monthly, quarterly, and annual financial statements for each project entity and the consolidated company

•      Manage the general ledger, chart of accounts, and all accounting operations including AP, AR, payroll, and bank reconciliations

•      Maintain project-level job cost accounting, budget-to-actual tracking, and variance analysis across all active developments

•      Oversee the capitalization of project costs in compliance with ASC 970 (real estate accounting standards)

Construction & Project Finance

•      Assist with preparation and submission of construction loan draw requests and coordinate with lenders, title companies, and inspectors

•      Monitor project cash flow, draw schedules, and funding timelines; flag variances or cost overruns proactively

•      Track hard costs, soft costs, and contingency usage across each active development

Treasury & Cash Management

•      Manage company and project-level bank accounts, e-transfers, and cash positioning

•      Forecast short- and long-term liquidity needs across the portfolio

•      Coordinate equity calls and distributions with ownership and investors

Insurance Coordination

•      Serve as the primary financial liaison with insurance agents and carriers across all company and project entities, including general liability, builder's risk, professional liability, and umbrella policies

•      Review insurance invoices, allocate premiums to the appropriate project or corporate entity, and ensure timely payment

•      Maintain certificates of insurance for all active projects and verify that subcontractor and vendor coverage meets contractual requirements

•      Coordinate with project managers and legal counsel to ensure adequate coverage is in place at each phase of development — from pre-development through construction completion and, where applicable, into the lease-up or sales period

•      Support lender and investor insurance compliance requirements, including evidence of coverage, named insured/additional insured documentation, and policy renewals

Compliance, Tax & Audit

•      Coordinate with external CPAs on annual tax returns (partnership, LLC, S-corp, and individual), audits, and reviews

•      Ensure compliance with federal, state, and local tax obligations including sales tax, use tax, and payroll tax filings

•      Maintain proper documentation for all entity structures, partnership agreements, and operating agreements

•      Support due diligence processes for acquisitions, dispositions, and refinances

Intercompany & Related-Entity Accounting

•      Manage all intercompany accounting between the management/development entity and related project LLCs, including accurate tracking of costs advanced on behalf of project entities and timely inter-entity billings

•      Record and reconcile pre-development costs incurred by the parent/management company (e.g., feasibility, entitlement, design) that are subsequently allocated or billed to project entities, with or without markup, in accordance with each project’s operating agreement

•      Maintain the books of the general contracting entity, including contract revenue recognition, subcontractor payables, retainage, and billing to project entity owners; ensure GC billings to related project entities are properly documented, arm’s-length where required, and reconciled on both sides of the transaction

•      Apply and enforce consistent intercompany billing policies, including markup schedules, cost allocation methodologies, and documentation standards; ensure all intercompany balances are eliminated or disclosed appropriately in consolidated reporting

•      Coordinate with external tax advisors and legal counsel to ensure intercompany transactions comply with partnership agreement terms, lender covenants, and any applicable transfer pricing or related-party disclosure requirements

Internal Controls & Systems

•      Establish, document, and enforce internal controls and accounting policies

•      Manage accounting software and recommend system improvements as the company scales

•      Oversee vendor relationships, contract review for financial terms, and insurance certificate compliance

Leadership & Team Development

•      Operate independently as the sole accounting professional in the near term

•      Recruit, onboard, and manage staff accountants as the project pipeline expands

•      Serve as a collaborative financial partner to ownership, project managers, and legal counsel

Required

•      Bachelor's degree in Accounting, Finance, or a related field

•      Minimum 5 years of progressive accounting experience, with at least 3 years in real estate development and general contracting

•      Demonstrated expertise in job cost accounting, construction draw management, and project-level financial reporting

•      Experience managing multiple entity structures (LLCs, partnerships, S-corps) simultaneously

•      Proficiency in real estate or construction accounting software (Currently using ComputerEase)

•      Strong knowledge of GAAP and real estate-specific accounting standards (ASC 970)

•      Excellent Excel skills; experience building and maintaining project pro formas and cash flow models

•      Ability to work independently, manage competing priorities, and meet deadlines without close supervision

Preferred

•      Experience with both for-sale residential (single-family/condo) and multifamily/mixed-use development

•      Familiarity with investor reporting, preferred return calculations, and equity waterfall structures

•      Background in lender compliance reporting and covenant tracking

•      Prior experience scaling a finance function and building out a small team

Compensation will be commensurate with experience and qualifications. A competitive package is anticipated including:

•      Competitive base salary

•      Performance-based bonus

•      Health, dental, and vision insurance subsidy

•      Paid time off and holidays

•      Opportunity to grow into a VP of Finance / CFO role as the company expands

Legacy Development is an established real estate development firm specializing in residential and multifamily projects across a range of scales — from boutique single-family and condominium developments to complex multifamily and mixed-use projects exceeding $50 million. Our team combines entrepreneurial agility with disciplined project execution, and we are entering a significant phase of growth. This is an opportunity to join a dynamic organization and play a central role in shaping its financial infrastructure.

To apply, please submit a resume and cover letter detailing your real estate development accounting experience.