Senior Development Accountant
Senior Development Accountant
Employer Active
Job Alert
You will be updated with latest job alerts via email
Share
Job Alert
You will be updated with latest job alerts via email
$ 96000 - 105000
1 Vacancy
Job Description
Summary
Reporting to an Accounting Manager this position will be responsible for handling predevelopment and construction phases of the new construction projects acquisition and rehabilitation projects and a portion of the portfolio for properties that are going through reorganization refinancing litigation major repairs and/or resyndication. This person performs daytoday general ledger accounting activities monthly reconciliation process and monthend close draw process. This position works closely with project managers and requires a working knowledge of construction deals and financing from a GAAP perspective.
This position requires a highly detailoriented individual with good written and oral presentation capacities. The role is in an active office environment and must help build a strong accounting team
Responsibilities
FINANCIAL STATEMENTS
- Produces quality accurate and timely monthly financial statements by preparing GAAP monthly journal entries and account reconciliations. Entries include:
- Reconcile and amortize prepaids
- Expense accruals
- Debt reconciliations and interest accruals
- Insurance claim reconciliation
- Capitalize fixed assets
- Reconcile and record draw funding
- Categorize and record general contractor pay applications
- Nonaffiliated developer fee payments
- Nonaffiliated partner equity accruals
- Cash receipts o Accounts payable reconciliation
- Reserveintransit reconciliation
- Construction loan closing entries
- Records bank reconciliations monthly
- Reviews and approves accounts payable entries entered by accounts payable clerk
- Executes accurate and timely electronic approval packages for book transfers and wire transfers for draw funding payments to vendors capital contributions intercompany lending repayments and transactions between projects
- Prepares payment requests and backup documentation for urgent or nonroutine payment requests from development
- Records and reconciles construction draw activities including general contractor retention accrual
- Maintains all project financial files and statements and provides to auditors investors lenders development partners and external agencies as required
EXTERNAL AUDITORS
- Prepares and submits detailed financial statement audit packages annually for preconstruction and construction period projects
- Responsible for addressing all open items under managers guidance
- Prepares and submits workbooks and audit packages for a cost audit during the construction completion phase
CONSTRUCTION DRAWS
- Monthly completion of draws for external and internal funding including projects with multiple funding sources
- Sets up draw budgets with project manager under accounting managers guidance including sources and uses and budget category mapping
SPECIALIZED REPORTING AND AD HOC PROJECTS
- Assists in preparing and submitting ad hoc reporting as needed to external entities
- Performs various projects and analysis as required
- Prepares monthly and quarterly financial and draw reporting for the senior management group and the board
- Construction project report
- Predevelopment draw summary report o Hard cost construction progress report
- Intercompany lending analysis
- Placedinservice package due date report
COMMUNICATION AND PROCESS IMPROVEMENT
- Communicates effectively with development investors lenders development partners and external agencies
- Actively participates in meetings
- Continuously looking for ways to streamline the draw and monthly close process while ensuring quality and accuracy of the financial statements
Qualifications
- Bachelors degree in Accounting or Business
- Strong analytical organizational and problemsolving skills
- Proven proficiency with computer skills including Excel
- Working knowledge of GAAP
- Accounting software experience
- Strong written and oral presentation capability
- Demonstrated ability to work efficiently under managers supervision to meet time sensitive deadlines
- Ability to work harmoniously in a multicultural team
Preferred Qualifications
- Experience with Yardi
- Prior lowincome housing finance and development experience
- Relevant development accounting work experience
- Construction development accounting
BRIDGE Housing is an Equal Opportunity Employer committed to fostering an inclusive environment for our diverse workforce. We do not discriminate on the basis of race religion color national origin gender identity sexual orientation age marital status veteran status or disability. Pursuant to applicable state and local regulations we will consider qualified applicants with arrest records
Required Experience:
Senior IC
Employment Type
Full-Time
