Property Accounting Manager

Job Description

Introduction We are seeking a highly skilled and experienced Property Accounting Manager to join our dynamic team. The ideal candidate will be responsible for overseeing the financial operations of our property management and real estate portfolios. This role demands a comprehensive understanding of accounting principles, property management, and real estate finance. You will work closely with the Controller, property managers, asset managers, and other key stakeholders to ensure accurate financial reporting, budgeting, and compliance with regulatory requirements. Key Responsibilities Prepare and review monthly, quarterly, and annual financial statements for real estate portfolios prepared by the Property Accountants. Train, monitor AP staff and accounting associates both employees and outsourced roles. Ensure timeliness and accuracy of Financial Reporting and Accounts Payable functions. Ensure full compliance with regulatory requirements and company policies. Address any issues and questions from different teams. Take care of employee reviews. Coordinate and collaborate with property managers and asset managers on financial matters. Assist with the preparation of budgets and forecasts for property portfolios. Monitor cash flow and initiate capital calls to fund property operations. Review and approve bank reconciliations and Workpapers to ensure accuracy. Prepare Budget Comparison Report (BCR) once property financials are finalized. Review BCR/PS explanations received from manager/regional. Prepare Investor specific reporting (Exec Sum for Park West, CWC). Assist with external audits to ensure timely and accurate audit completion. Quarterly compliance reporting and miscellaneous requests Coordinate and approve draw request packages Maintain accurate financial records and ensure the integrity of financial data. Analyse and report on financial performance metrics to senior management. Ensure cash is sufficient to cover expenses weekly. Ensure property tax payments and assessments timely payments. Review and distribution of monthly management fee for property owners and stakeholders. Prepare annual operating escalations and real estate tax true ups. Identify and implement process improvements to enhance efficiency and accuracy. Make last debt service payment and ensure lender reserve received. Contact insurance provider to cancel insurance and get prepaid deposits released. Assist with special projects and ad-hoc reporting as required. Approve AP to be paid after Regional Manager approves. Monitor portfolio cash levels and address potential cash shortfall situations with VP. Prepare overhead expense allocation worksheets. Process Amex expense report bill-back allocation. Input bank activity for ALMFF & ALMFF(A). Prepare investor report. Requirements Bachelor’s degree in accounting, Finance, or a related field. CA is preferred. 12-14+ years of experience, 4-5 years in property accounting or real estate finance, including team leadership experience. In-depth knowledge of GAAP and real estate accounting principles. Proficiency in Yardi and Microsoft Excel is a must. Excellent analytical and problem-solving skills with the ability to identify trends and discrepancies. Strong attention to detail and commitment to accuracy. Ability to effectively manage multiple priorities and meet deadlines in a fast-paced environment. Exceptional communication and interpersonal skills. Knowledge of property tax regulations and compliance. Demonstrated ability to work both independently and as part of a collaborative team. Strong organizational and time management skills. Show more Show less