The Controller, Development & Partnership Accounting is a highly trained accounting professional with experience in managing a wide variety of complex and specialized accounting functions involving regular application of knowledge of accounting methods, forms and techniques, and general accounting principles, practices and procedures. The Controller is responsible for managing the development accounting staff, improving accounting policies and practices, preparing or reviewing project debt/equity draws and related technical tests, project close outs (including obtaining the 8609 tax document), financial audits and tax returns, the maintenance of CPDC’s fiscal records, and timely preparation and reporting of recurring financial reports.
Essential Job Functions
- Direct and manage the activities of the development & partnership accounting department, for the preparation of accurate and timely financial management reports including, but not limited to, internal and external financial statements, annual audits and tax returns, investor or project related/required reports; fees and partnership waterfall calculations; and preparing work product as required.
- Maintain the books and records for all project partnership legal entities, including the corporate partner entities. This includes close coordination with the property management agent to ensure that project level books are timely reviewed and consolidated.
- Ensure compliance with the covenants and/or reporting requirements of governmental and corporate grants and loans.
- Provide technical accounting guidance to the accounting team and other CPDC departments to facilitate accurate and timely reporting on LIHTC partnerships to partners and regulatory agencies, and to ensure that certain tests critical to tax credit compliance are met as appropriate, including the Bond 50% test, annual 704(b) analyses, etc.
- Assure that project close outs are completed in a timely manner including the completion of the final determination of mortgage proceeds (if there is a CDA loan) and obtaining the 8609 from the state.
- Ensure that debt/equity draws are completed accurately and on schedule so that project payables can be paid timely
- Track project letters of credit to ensure timely close out.
- Coordinate with investors, auditors and other stakeholders to ensure requests are addressed timely and completely
- Prepare HUD Mortgagor’s cost certifications and other tax credit-related reports and tests required to comply with the requirements of project financing.
- Assist various Departments in special projects relating to operating and development entities.
- Maintain and/or establish accounting policies and procedures and other planning and control processes for the development accounting department.
- Recommend, design and/or implement departmental controls and procedures.
- Maintain appropriate corporate accounting files.
- Proactively demonstrate leadership qualities such as collaboration, initiative, innovation, problem-solving, accountability, planning and setting goals, managing resources and personal and staff development.
- Direct and review staff work and promote growth.
- Performs other related duties as assigned.
Required Skills and Knowledge
- Experience in accounting and analysis for real estate/Low Income Housing Tax Credit Partnerships.
- Ability to work in a fast‐paced accounting department with multiple entities, projects, and deliverables.
- Working knowledge of generally accepted accounting principles and regulations regarding tax credits and subsidized properties, requirements of the IRS, HUD, investors, lenders and/or state, and local government agencies and the reporting thereto.
- Experience in preparing work papers (through reconciled trial balance) and/or review thereof for annual audit by independent public accountants.
- Experience in preparing work papers and/or review thereof for annual tax returns.
- Experience budgeting, managing federal grants, and financial reporting.
- Aptitude to learn and operate CPDC’s accounting software and standard office programs such as Word and Excel.
- Strong project management and organizational skills, problem solving, and ability to handle multiple priorities.
- Superior knowledge of accounting theory and organizational skills.
- Excellent attention to detail and ability to implement internal controls.
- Ability to work independently and efficiently, and seek help when needed.
- Well‐developed leadership and interpersonal skills, and ability to work cooperatively in a team environment.
- Able to work with a diverse group of people.
- Bachelor’s degree in Accounting, Business Administration or related field required.
- Certified Public Accountant designation or MBA required.
- Minimum 8-10 years related experience and demonstrated knowledge in accounting for real estate.
- Minimum 2-4 years of supervisory experience managing accounting and other professionals.
How to Apply
- CPDC offers competitive salary, medical, dental, life, STD, LTD, 401(k), flexible spending accounts, EAP, and paid time off.
- Only resumes including salary requirements will be considered. Please click Apply and submit cover letter, resume and salary requirements. CPDC is an Equal Opportunity Employer. No phone calls, please.