About the Opportunity
Our client is a real estate investment firm with a diverse portfolio of commercial properties within the hotspots of NYC and Miami. The portfolio continues to grow through acquisition, development and capital improvement projects. They are searching for a Vice President of Property Accounting to report to the CFO. The role will manage property accounting and reporting to partners and leaders, handle budgeting and analysis, as well as cash management. The ideal hire will have commercial real estate experience, an analytical mindset and MRI experience.
The annual base salary range is $130,000 to $160,000. Actual compensation offered to the successful candidate may vary from posted hiring range based upon geographic location, work experience, education, and/or skill level, among other things. Details about eligibility for bonus compensation (if applicable) will be finalized at the time of offer.
Job Responsibilities
- Ensure prompt and precise generation of monthly and quarterly financial reports for property accounting, distributed to equity partners, owners, and lenders
- Guarantee compliance of property financial reporting and transactions with pertinent accounting standards
- Preparation or review of property analytical reports, offering detailed variance analysis
- Supervise an external accounting team from a third party
- Bank reconciliations and conducting analysis on loan compliance covenants
- Examine leases and lease abstracts, providing accounting guidance as necessary, and input leases into the accounting system for accurate tenant billing
- Support the monthly corporate billing process, underpinned by transparent schedules
- Serve as the principal point of contact for property accounting inquiries
- Contribute to the formulation of robust policies and procedures to safeguard the integrity of general ledgers and financial statements
- Evaluate procedures and proposing solutions to enhance operational efficiencies
- Provide supervisory support to property staff for their daily, monthly, and annual duties
- Actively participate in the formulation of annual budgets and re-forecasting processes
- Assist in the preparation of closing statements for property acquisitions or dispositions
- Aid in annual audits by ensuring timely provision of property-related information to auditors
- Ensure the timely preparation, review, and submission of all property-related tax work to third-party tax preparers
- Oversee and manage cash management and banking activities at the property level
- Lead and support initiatives to optimize MRI utilization and streamline processes through automation
- Review monthly financial data from third-party joint ventures
- Ad hoc or special accounting projects, such as implementing accounting software, reviewing transactions or business processes, and providing assistance with financial reporting and asset management
Job Requirements
- 6+ years of hands-on experience in property accounting within the realm of commercial real estate development and investment firms
- Bachelor’s Degree in Accounting
- Demonstrated capability in implementing accounting systems and their respective modules
- Previous experience in process enhancement initiatives and accounting system automation
- Proven track record in financial reporting and adeptness in account ledger reconciliation
- Experience in handling consolidation, intercompany transactions, and eliminations
- Proficiency in MS Office Suite, including Excel, Word, PowerPoint, and Outlook
- MRI software (both Web and Windows versions) is a prerequisite
- CPA, a plus
