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Manages staff performing accounting functions for a portfolio of properties or for a single large or complex property.

Essential Duties & Responsibilities include the following. Other duties may be assigned.

• Manage and direct the Property Accountants in performing their assigned responsibilities to include accounting activities and financial reporting for assigned properties. Ensure all work products are accurate, timely and complete.

General Responsibilities:
• Assist and direct the Property Accountants in maintaining the property level general ledgers in conformity with the companys policies and procedures.
• Ensure that the Property Accountants are complying with internal controls established by the company.
• Hiring, developing and managing the Property Accountants.
• Assist Property Accountants in cash management functions. Ensure there are adequate funds available to meet operating needs, using working capital, distributions and/or capital calls.
• Actively participate in Asset Team meetings and/or projects.
• Manage Property Accountants daily activities.
• Set and review Property Accountants Goals & Objectives and evaluate performance.

Monthly Responsibilities:
• Review and approve the bank reconciliations.
• Review and approve the Property Management Fee Calculation.
• Review and approve the Construction Management Fee Calculation.
• Review and approve property level cash basis MAP, variance reports and forecast.
• Review the Cash and Accrual Basis Trial Balances to ensure that all activity is properly classified in the property level general ledgers.

Quarterly Responsibilities:
• Provide guidance to Property Accountants in the preparation of the general ledger account reconciliations.
• Perform initial review of the general ledger account reconciliations.
• Review the property financial statements and related supporting documents to ensure that the financial statements are correct and in conformity with GAAP (on some properties this may be a monthly responsibility).
• Review property level loan compliance tests (on some properties this may be a monthly responsibility).

Annual Responsibilities:
• Provide guidance to the Property Accountants in the preparation of the property level audit packages and financial statements.
• Review the property level audit package information and schedules for completeness, accuracy, to ensure a minimal number of audit adjustments.
• Review the annual direct expense letter audit schedules for completeness and accuracy.
• Review and approve the tenant escalation true-ups.
• Assist or participate in the annual property budget preparation process.
• Maintain the general ledgers and prepare financial reporting for their assigned Partnerships, if applicable.

Fund Specific Responsibilities:

General Responsibilities:
• Maintain the partnership level general ledgers in conformity with the companys policies and procedures.
• Ensure compliance with company established internal controls.
• Perform partnership level cash management functions.

Monthly Responsibilities:
• Prepare partnership level bank reconciliations.
• Review partnership level Cash and Accrual Trial Balances to ensure that all transactions are properly recorded on both sets of books.
• Review Rollup to the partnership level to ensure that all general ledger activity consolidates properly.

Quarterly Responsibilities:
• Prepare the partnership level general ledger account reconciliations and related schedules.
• Prepare the partnership level consolidated and consolidating financial statements in compliance with GAAP and Fair Market Value, as applicable.
• Prepare partnership level loan compliance tests (may be a monthly responsibility in some cases).

Annual Responsibilities:
• Creates and monitors Fund level budgets to facilitate Fund liquidity planning within designated timeframes, if applicable.
• Prepare the partnership level audit package and financial statements in compliance with GAAP and Fair Market Value, as applicable, and with accuracy and completeness, ensuring a minimal number of audit adjustments.

Other Responsibilities:
• Read and understand the governing documents for all of their assigned properties and partnerships, to include, partnership agreements, management agreements, loan documents, purchase and sale agreements.
• Ensure that accounting activities comply with all applicable laws and regulations, corporate policies and guidelines, accepted accounting standards and the governing agreements.
• Assist in developing and maintaining the Portfolio Accounting Policy and Procedure Manual.
• Actively participates in any departmental training and education programs. Seeks out opportunities to contribute to the success of the program by identifying areas where training is needed and assisting in developing appropriate training programs.
• Accurately completes or supervises the completion of accounting for acquisitions, dispositions and major transactions as they occur. Ensures that the recording of major transactions is completed within 30 days of close and the transaction audits are completed within the quarter of occurrence.
• Perform thorough research of accounting issues to ensure transactions are recorded in conformity with GAAP.
• Prepare the interim audit package for every major transaction for review by company management and the independent auditors.
• Prepare the subsequent settlement reconciliation of major transactions as appropriate.
• Promptly respond to requests for information from other departments within the company and follow through to ensure resolution.
• Participate or lead special projects as assigned by management.
• Maintains regular contact and builds solid working relationships with Property Managers and Asset Teams within assigned portfolio/properties to ensure high level of customer service as measured by manager observation and feedback from principal customers.
• Promptly implements action plans to address any identified customer service issues.
• Reaches out to peers to identify solutions to issues.
• Completes well thought out and well documented self-review within designated timeframes.
• Brings issues and concerns to managers attention on a timely basis.
• Provides accurate, timely and useful information to measure progress in achieving company, business group and property goals.
• Delivers monthly, quarterly and annual reporting to the Portfolio Controllers on time.
• Delivers packages that are complete, technically accurate, contain adequate support, are fully referenced, and require minimal revision.
• Ensures that a proper accrual basis close occurs on a monthly basis that is timely and technically correct. Minimizes workload during the close by ensuring accrual-related tasks are completed throughout the month, if possible.
• As the direct lead with outside auditors, monitors the audit package from preparation through report issuance to ensure an accurate, timely and complete final product. • Effectively controls timely delivery and quality of product to prevent additional audit billings.
• Demonstrates technical expertise by staying abreast of current technical accounting pronouncements. Takes initiative in staying up to date by reading technical literature and attending training as appropriate.
• Analyzes new or changing circumstances at the earliest opportunity to identify accounting impact. Appropriately communicates impact in a timely manner, makes recommendations, and follows through to be certain that identified issues are brought to closure on a timely basis.
• Delivers fluctuation analyses that are well written, complete, and require minimal revision.
• Demonstrates a full understanding of system capabilities and limitations and proficiency in its use for recoveries (including mid year true up and budgeting) and deferred rent calculations.
• Implements new processes and procedures accurately, on a timely basis, and with minimal supervision.
• Makes a significant contribution to the success of any meetings or conferences by active participation in the planning process and by actively participating in the meeting or conference.
• Volunteers to participate in special project work as opportunities arise. Takes ownership of the project and makes a meaningful contribution to its success. Follows through to completion.
• Serves as a resource for other department members in areas of expertise as designated by manager.

Supervisory Responsibilities:
• Manages exempt and non-exempt staff under the direction of the Portfolio Controller.
• Demonstrate effective management, leadership, coaching and development of staff to achieve company and department goals and objectives including but not limited to:
• Ensure annual goals and objectives are established for all staff within designated timeframes.
• Ensure job responsibilities and expectations are clearly defined and communicated, work is assigned and distributed appropriately, staff is appropriately trained, and performance issues are addressed in a timely manner.
• Conduct regular staff meetings.
• Regularly provide formal and informal performance feedback to staff including discussions of strengths and areas for improvement.
• Complete well thought out and well-documented annual performance reviews and salary recommendations within designated timeframes.
• Demonstrates actions and communications that support the companys Equal • Employment Opportunity and Affirmative Action Programs in all aspects of employment.


Requirements:

Essential Skills & Qualifications:
• Strong working knowledge of issues, procedures and practices associated with property and partnership accounting.
• Demonstrated ability to manage multiple projects and priorities to conclusion.
• Ability to effectively resolve problems that balance multiple needs and interests.
• Ability to respond to changing and sometimes ambiguous situations.
• Demonstrates sound and accurate judgment.
• Strong oral and written communication skills. Ability to read, to analyze, and interpret complex documents.
• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
• Intermediate proficiency in Microsoft Word, Excel, and complex accounting software programs.
• Ability to complete objectives and projects with broad managerial direction. Work is generally reviewed at the time of completion.
• Education/Experience:
• Bachelors degree (B.A. or B.S.) in Accounting from a four-year college or university, or equivalent combination of education and experience.
• Minimum 2 years experience in managing staff of two or more employees.
• Minimum 4 years experience in accounting including experience with a national accounting firm and/or real estate industry experience.

 

Certificates, Licenses, Registrations:

• Certified Public Accountant (C.P.A.) designation preferred.

Physical Demands:
• The physical demands are representative of those that must be met by an employee to successfully perform the essential functions of the job. Physical demands include extended periods of sitting.
• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Working Environment:
• Work environment characteristics are representative of those an employee encounters while performing the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• The employee works primarily in a large office building.
• Travel requirements vary depending upon position location. Travel may be required up to 20% of the time on the job.

Date Posted: 01/30/2006