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SENIOR ACCOUNTANT – CONTROLLER, DEVELOPMENT & CONSTRUCTION

Salary
$75,000-$99,999
Employment
Full Time
Real Estate Field
  • Accounting / Control
Location
Los Angeles
 CA
Postal Code
90017
Country
United States

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Description


SENIOR ACCOUNTANT CONTROLLER, DEVELOPMENT & CONSTRUCTION

Responsibilities:

 

The candidate will undertake all aspects of financial management, including property asset accounting, corporate accounting, financial reporting, budget preparation, as well as the development of internal control policies and procedures. We are looking for a controller to lead the accounting department and be responsible for providing technical accounting expertise, oversight of the financial process, and provide leadership.

Responsible for the full-cycle job cost/contract accounting functions associated with assigned projects related to constructions/development projects, including the completion, review, reconciliation, processing of loan draws, contract management, participating in pencil draw meetings, invoice processing and follow-ups and participating on project team meeting. Day to day accounting of assigned property or Assets as well as cash control for the Bank Accounts associated with these Assets.

Essential Duties:

  • Oversee day-to-day accounting operations, including but not limited to AP, AR and cash management
  • Oversee the implementation of either Sage Timberline or Yardi software system and oversee day-to-day recording of operations via accounting software system
  • Monitoring cash accounts via online banking
  • Overseeing business processes and accounting policies to maintain and reinforce internal controls
  • Entering/reviewing invoices for weekly AP protocol
  • General Ledger maintenance & journal entry preparations
  • Collaboration with external accountants and preparation of financial statements in accordance with GAAP
  • Oversight of tax and insurance accounts for multiple properties
  • Review pay application package from the general contractor and initiate the payment process in Payables system
  • Assist in setting up executed contracts in Job Costs Accounting program and monitor the progress payments
  • Track payments against contracts, track lien releases and communicate with project managers and general contractors to resolve payment issues.
  • Compile and assemble draw funding requests for construction/development loans and coordinate with development accounting group to commit payments after funding and then with Cash Control to make sure all related checks and wires, ACH are released accordingly.
  • Attend general contractor pencil draw meetings and paying key attention to the schedules and the percentage completed and the pay application in general.
  • Maintain the master list of construction loans on assigned projects and report monthly to the Project Director & VP of Development and the CEO & Managing Director if necessary
  • Work with development & construction group to perform a job cost month-end reconciliation including the retention accounts related to the projects assigned
  • Communicate and follow-up on construction/development activities, results, and pending issues with the development team and the development accounting team
  • Perform month-end procedures and communicate the accruals to the development accounting team for recording particularly the GC accruals
  • Keeping log of the conditional and the unconditional waivers for the assigned projects and communicate the project manager on the assigned projects.
  • Compiling the monthly requisition to track total construction cost for the assigned project working with the project coordinators to track and reconcile the project requisition spreadsheet periodically and ready to report on it
  • Processing construction invoices in Payable System and submit for approval. Follow up to make sure they are approved and coordinating with construction accounting staff to make sure invoice are released after funding coordinating with the development accounting teams and project teams to make sure cost to complete/contracts are all reconciled
  • Coordinate monthly project team meetings with construction accounting/development team/investment/fund accounting and property management teams if necessary
  • Track all unpaid invoices in Cost Accounting program and payable system and following up on the status if necessary
  • Work with the Development team especially the project coordinators and help manage the day to day construction administration related issues and report to both the development VP and the Construction manager if necessary.

 

Supervisory Duties:

  • Oversee Staff accountant(s)

Communication, Reasoning & Technical Skill Requirements:

  • Ability to speak Chinese is a plus
  • Effective communication skills to direct and respond to request for multiple project teams
  • Very detail-oriented and deadline-driven
  • Microsoft Office including Excel
  • General understanding of construction accounting processes and procedures and construction development processes
  • Experience with Yardi or related accounting/AP software

Educational/Experience Requirements (including certifications, licenses, etc):

  • Bachelor s Degree in accounting or related field with 5-10 years of experience in development & construction projects
  • Demonstrate a strong understanding and applying basic accounting concepts and principles

Job Functions


  • Accounting / Control
  • Administration
  • Tax
 

Job Sectors


  • Alternative Investments
  • Residential
  • Office
 

Experience


N/A


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