Controller, Commercial Real Estate
Partially Remote (2 days in office)
We are looking for an Commercial Real Estate Controller where you will work in an ambitious and growing environment. Under some supervision you will be responsible for the financial reporting and analytical review of the property owner entities, related taxable REIT subsidiary, joint venture entities and certain entities that invest in the JV entity. You will prepare monthly, quarterly and annual financial reporting packages and other client reporting as required.
Essential duties and responsibilities:
Financial reporting packages:
Produces financial reporting packages and other required financial information and analytics for all property related entities as required. Financial reporting packages include the preparation of workpapers for all balance sheet general ledger accounts on a monthly or quarterly basis in addition to standard financial statements. Financial statements are prepared on the reporting basis determined by the client (i.e. US GAAP - Historical Cost or Fair Value). Works with client’s auditors for interim and year end audits; helps draft annual audit report.
Monitors Financial Performance:
Compiles, analyzes, and monitors financial data by performing detailed review of monthly property owner reports including but not limited to: operating statement variance reports, aged receivables, aged payables and capital expenditures variance to budget. Responsible for calculation of debt ratios in connection with loan covenants where required.
Supports the daily activities of cash management. Prepares monthly bank reconciliations manually recording journal entries for reconciling items if needed. Reviews cash balances to avoid shortfalls, prepares capital calls or loan draws for funding when needed and requested by client. Prepares distribution waterfalls and executes distribution when required. Manages cash security deposits and major property related payments including but not limited to debt service, municipal taxes, real estate taxes and ground rent if applicable. Ensures fees payable to management company are accurately calculated and paid timely.
Supports senior team members in the management of risk and compliance activities.
Review lease abstracts and lease recurring charge set up. Prepares escalation/CAM calculation for income budgeting/billing estimates and annual true ups.
Troubleshoots escalated issues and ensures internal and client requests are handled timely, accurately and with a focus on customer service. Participate in recurring meetings with the client, adding value where needed.
Participates in systems testing and implementation related tasks if necessary.
May participate in special projects including new property set-up or disposition.
Performs other duties as assigned.
No formal supervisory responsibilities in this position however may guide lower level employees.
· Degree from a four-year college or university program with an emphasis in accounting, finance or related field required.
· A minimum of Seven years accounting experience or equivalent combination of education and experience required. Prior experience in real estate accounting and analytics preferred.
· Solid organization skills and analytical skills a must.
· Communicates clearly, effectively and concisely. Should have presentation skills, solid written and verbal communication skills.
· Requires intermediate knowledge of Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB) regulations including an intermediate knowledge of financial terms and principles to include accounting methods: cash, accrual, and GAAP.
· Ability to comprehend, analyze, interpret complex documents and problem solve.
· Requires intermediate analytical and quantitative skills, solid economics, math and analytical skills and ability to apply them.
· Knowledge of real estate terms, definitions, and real estate analytical methodology. Knowledge of company financial systems as well as internal and external information sources. Intermediate knowledge of computer software and hardware (i.e., Microsoft Office Suite Products with focus on Excel). Ability to work in multiple accounting and/or reporting software applications.
· Decisions made with understanding of procedures and company policies to achieve set results and deadlines.
Job Type: Full-time
Pay: $120,000.00 - $125,000.00 per year
- 401(k) matching
- Dental insurance
- Health insurance
- Paid time off
- Vision insurance
- Monday to Friday
- Bonus pay
- Bachelor's (Preferred)
- GAAP: 3 years (Preferred)
- Real Estate Accounting: 5 years (Preferred)
- Commercial Real Estate Accounting: 3 years (Preferred)
- Financial statement preparation: 4 years (Preferred)
- Financial Reporting: 4 years (Preferred)
- Workpaper Preparation: 2 years (Preferred)
Work Location: One location