What are the responsibilities and job description for the Development Accounting Supervisor position at rxr?
Headquartered in New York with a nationally-scaled platform, RXR is a 450 person, vertically integrated investment manager with expertise in a wide array of value creation activities, including acquisitions, asset and portfolio management, property operations, development, construction, leasing, and technological innovation. RXR is an active investor in real estate credit, rental housing, commercial property, and property technology through value-added and opportunistic investment strategies.
Role Summary
Development Accounting Supervisor is responsible for overseeing the development and cost accounting processes across development projects. This role ensures accuracy, compliance and financial integrity across budget controls, capital calls, project cost tracking, and reporting. The position partners closely with Development, Construction, Finance and leadership teams to monitor and analyze project performance, manage risk, and support strategic decision-making.
Key Accountabilities
Development Accounting & Capital Management
- Review development accounting project capital call packages for completeness, accuracy, and compliance with approved budgets, supporting documentation, and partnership/lender requirements prior to submission
- Prepare and compile capital call requests, including detailed sources and uses, supporting schedules, and required backup, for timely submission to equity partners and lenders in accordance with funding agreements
- Project Cost Control & Financial Oversight
- Assist with design, development and maintenance of project cost control systems and reporting
- Perform comprehensive cost control analysis across development projects, including review of construction contracts, consultant agreements, change orders (construction and consultant), non-contract commitments, and all budget modifications to ensure alignment with approved financial plans and identify variances or risks
- Monitor and evaluate budget changes, ensuring proper documentation, justification, and approval in accordance with internal controls and project governance standards
- Ensure budgets are consistent among financial models, capital calls, construction loan draws and management reporting
- Provide and analyze budget reforecasts, cost trend reports and commitments reports
Accounts Payable & Invoice Management
- Review and validate AIA requisition, construction payment application, consultant invoices for accuracy, proper coding, contract compliance, and supporting documentation prior to entry into the accounting system, ensuring adherence to project budgets and payment terms
- Post vendor and consultant invoices in a timely manner, verifying proper coding, supporting documentation, and alignment with contractual terms and approved budgets
Cash Management & Reconciliations
Record and reconcile electronic payments and cash deposits in the accounting system, ensuring accurate application to appropriate accounts, projects, and funding Financial Reporting & Close Process
- Prepare and record accruals for expenses at period-end, ensuring completeness and accuracy of financial data in support of monthly, quarterly, and annual close processes
- Record acquisition transactions, including purchase and sale of assets, ensuring proper recognition, classification, and supporting documentation in accordance with accounting standards
Core Competencies
- Development Accounting Expertise
- Financial Controls & Accuracy
- Analytical Thinking
- Accountability
- Problem Solver
- Systems Proficiency
- Collaboration & Communication
Experience and Education
- Bachelor’s Degree in Accounting or related field
- Experience in Development Real Estate
- Fluent in Construction Accounting
- Fluent in budgetary Cost Control
- Fluent in AIA application and Construction Contracts
- 5 years of relevant experience
- Working Experience of Sage 300, eBuilder and Timberscan
The salary range and/or hourly rate listed is a good faith determination of potential base compensation that may be offered to a successful applicant for this position at the time of this job advertisement and may be modified in the future. When determining a team member's base salary/rate, several factors may be considered as applicable (e.g. location, years of service, specialty, education, relevant experience).
Bonus eligible.
Pay Range
$120,000 - $140,000 USD
Salary : $120,000