Property Accounting Manager

January 02, 2018

Confidential

Orange County, California


POSITION SUMMARY & REQUIREMENTS

An Orange County based commercial real estate investment firm is seeking an experienced and detail-oriented Accounting Manager who will assume hands-on responsibility for all property accounting related to our growing national portfolio of stabilized and cash flowing commercial properties. The Accounting Manager works with a high degree of independence in performing accounting and financial activities for the company by developing and implementing systems for collecting, analyzing, verifying and reporting financial information as well as managing staff. 

This role is responsible for all areas relating to property accounting functions and financial reporting. This position will be responsible for overseeing the property accountants daily, weekly, and monthly accounting tasks and activities, and is expected to make recommendations for developing and maintaining accounting principles, practices and procedures to ensure accurate and timely financial reporting. This position must meet tight deadlines and a multitude of accounting activities.

Essential duties and responsibilities will include

  • Oversees day-to-day accounting operations of commercial property buildings.
  • Oversees month end and quarter end close for each respective property.
  • Reviews all general ledger journal entries, reconciles balance sheet accounts.
  • Ensures accuracy of all general ledger and sub-ledger information.
  • Responsible for reviewing bank reconciliations.
  • Reviews monthly Balance Sheets, Income Statements, and Cash Flows per property to verify account balances and reasonable revenue and expense amounts.
  • Assists with forecasts and budgets as well as provide detailed explanations of deviations from budget based on specific materiality thresholds.
  • Compiles financial statements for joint venture and lenders.
  • Oversees and ensures that all property and tenant lease input information is up to date and correct.
  • Reviews CAM reconciliations and assists in the set-up of CAMs in MRI
  • Assist in annual audits. Ensures reports/documents are forwarded to Auditor/CPA and maintains applicable documentation.
  • Reviews monthly funding requests and monthly distributions to investors.
  • Oversees processing monthly fees – i.e. including property management, leasing commissions, accounting, and construction management.
  • Responsible for overseeing monthly mortgage and other recurring monthly payments are paid timely – avoiding any penalties for late payment.
  • Prepare sales and use tax return forms and related backup and ensure the timely and accurate payment of amount due.   
  • Reviews quarterly lender impound reimbursements for property expenses.
  • Supports financial activity for all property sales, including preparation of final operating statements, funds distribution, GST reconciliation, closing of bank accounts, and any other relevant closing duties.
  • Assist in the annual budget process.
  • Maintains a full understanding of all property specific processes and upkeep of pertinent information relating to specific properties. 
  • Provides input/feedback for improving processes, procedures related to above duties and responsibilities, and initiating quality and efficiency enhancements.

 

Knowledge and Skills

The successful candidate will rely on their own extensive experience and judgment to plan and accomplish goals. They will perform a variety of tasks and a wide degree of creativity and latitude is expected.  The ideal candidate will have the following skills and background:

  • Bachelors of Science in accounting or equivalent work experience.
  • Extensive experience with MRI property accounting software is required.
  • Experience with accounting for industrial, commercial and/or retail real estate.
  • Strong proficiencies with Microsoft Office applications including intermediate to advanced level in Excel.
  • Strong leadership skills and experience managing a team.
  • Ability to multi-task, work under pressure, meet deadlines and be able to thrive in a fast-paced work environment.
  • Excellent verbal, written communication and interpersonal skills.
  • Ability to learn fast and work independently or as part of a team and take on new tasks with high level of difficulty.
  • Sound knowledge of bookkeeping theories, practices, and accepted office procedures; knowledge of accounting procedures.
  • Knowledge of the real estate transaction processes, including review of contracts.

 

Comments

  • Salary commensurate with experience
  • Full health insurance package
  • Paid sick days, vacation days and holidays