Senior Accountant -Real Estate Background -Amazing Company Culture!

JOB DESCRIPTION:

Reporting to the Assistant Controller, the Senior Accountant will be responsible for overseeing the monthly financial reporting process for various property management companies, including reviewing the financial statements for multiple properties, monthly accruals, consolidations, reviewing management fee calculations, and cash management. Prepares monthly or quarterly cash flow reports to accurately calculate distributable cash flow for each asset. Responsible for preparing and completing monthly or quarterly capital improvement draws and capital calls for unfunded commitment and submitting to either the Lender or LP for funding. Manages interim and annual financial audit engagements ensuring timely and accurate reporting.

Tasks and Responsibilities:

Financial Reporting and Operational Budgeting

• Oversees the monthly financial reporting process for the various Property Management Companies (PMC) to ensure timely and accurate reporting.
• Reviews preliminary financial reports provided by the PMC for accuracy making sure sub-ledgers such as bank reconciliations, accounts receivable, accounts payable, escrow balances and gross potential rent, etc. tie out to the financial reports.
• Review entries for acquisitions and dispositions, gain from sale.
• Review closing prorations for acquisitions and post close reconciliations.
• Reconcile Capital Expense bank accounts and provide a copy of the bank reconciliation and general ledger activity to the PMC.
• Verifies operating and capital expense items are coded correctly.
• Communicates any anomalies in the financials to the Asset Manager and the PMC.
• Ensures business licenses, local state taxes, real and personal property taxes and insurance premium renewals are paid timely.
• Provides accurate monthly financial statements to the joint venture partner(s) by the due date indicated in the joint venture agreement.
• Provides monthly, quarterly, or annual financial reporting to lenders as well as debt covenant calculations and certifications to comply with loan requirements.
• Updates the corporate Asset Management Fee, Construction Management Fee and Accounting Fee schedules on a monthly basis.
• Assists Asset Management and Portfolio Management with annual budget planning as needed.
• Provides budget figures for partnership and other expenses as requested by Asset Management.

Distributions to Joint Venture partners:

• Prepares monthly or quarterly cash flow reports to accurately calculate distributable cash flow for each asset.
• Provides recommended distribution amount to the Asset Manager for approval.
  Distributes cash flow to both the joint venture partner(s) and respective TruAmerica entity per the due date listed in the joint venture agreement.
• Maintains preferred interest or internal rate of return (IRR) schedule with distribution and capital call amounts.
• Draw Process and Capital Calls:
• Updates internal Capital Expense Tracker monthly or quarterly at a minimum.
• Completes monthly or quarterly capital improvement draws and/or capital calls for unfunded commitment and submits to either the Lender or LP for funding.
• Verifies all unit renovation and exterior capital improvement invoices paid by the PMC are included in each draw or capital call package.
• Includes capital improvement invoices paid internally by the TruAmerica Accounts Payable Manager.
• Verifies proof of payment and lien waivers are included in each draw or capital call package.
• Confirms funding is received from the lender or joint venture partners.
• Sets-up GP funding and communicates with Corporate Accountant once completed.

Financial Audits, Tax Return Preparation & Related Consulting Engagements:

• Manages interim and annual financial audit engagements ensuring timely and accurate reporting.
• Coordinates with the PMC to provide auditors with information requested in the PBC (provided by client) list, ensure that the PMC is adhering to timelines.
• Oversees engagement of ASC805 PPA (purchase price allocation) reporting for US GAAP audit requirements and cost segregation studies used for tax return preparation.
• Assists respective CPA firms with tax preparation requests including providing financial reporting, audited financials, cost segregation studies and acting as a liaison between the audit and tax firms as well as with the LP's.
• Ensures LP to ensure the receipt of audited financial statements, K-1's and tax returns filed by the required due date listed in the JVA.

Abilities/Qualifications ·

• Bachelor’s degree in Accounting or Finance required.
• Yardi Voyager and/or RealPage property management software experience is required.
• Knowledge of Generally Accepted Accounting Principles (GAAP), modified cash basis and cash basis accounting.
• 5+ years of multifamily real estate experience required.
• Ability to multi-task and work with minimal supervision; must be thorough, detail-oriented, and have excellent follow-up skills.
• Must be able to work in a fast-paced environment and meet deadlines in a timely fashion.
• Must have strong analytical skills and be a highly energetic team player with a positive attitude.
• Ability to communicate with all levels of management.
• Our Senior Accountant needs to be an individual who is committed to results and has a strong sense of personal responsibility for how the company performs. This person’s financial aptitude and analytical skills must translate into insightful actions and proactive business improvement. You will need to maintain a “big picture” perspective but also have strong attention to detail.
• We require that you be able to respond clearly and concisely to our third-party management companies, our Asset Management department, and our Senior Management Team regarding financial issues, and you must communicate effectively with clients, investors, and lenders.

Discretionary bonus of up to 25% 

Full line up of benefits, 401k and match up to 5%,

Ability to invest in company properties