Director of Accounting
Director of Accounting
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Job Description
We are seeking an accomplished and highly detail-oriented Director of Accounting to lead the companys complete accounting function covering development/project-level transactions corporate finance operations and ongoing property-level accounting for a diverse portfolio of multifamily affordable housing communities.
This leadership position is responsible for managing all aspects of HUD Project Based Section 8 LIHTC and other affordable housing financing compliance including the full life cycle of development accounting construction draws equity installments acquisitions and dispositions) corporate accounting (financial reporting budgeting cash management) and property accounting (monthly operations compliance and lender reporting). The Director of Accounting will serve as a key strategic partner to the CFO and senior leadership ensuring the organization meets its operational financial and compliance objectives.
Key Responsibilities:
Development Accounting
Oversee full-cycle development accounting from acquisition or ground-up construction through stabilization for multiple concurrent projects.
Manage construction draw preparation and submission to lenders/investors ensuring complete backup accurate budget-to-actual tracking and timely funding.
Monitoring capital stack funding sources including debt tax credit equity grants and soft loans
Manage the tracking accounting and assisting of the preparation of partner equity installments including gathering all documents required for partner equity installments modeling of financial stabilization resulting in final permanent loan amounts verifying contribution amounts and reconciling partnership agreements.
Coordinate acquisition and disposition accounting including purchase price allocations closing statement reconciliations and gain/loss reporting.
Coordinate closely with development and construction teams to ensure accurate project budgets cost allocations and capitalization of expenditures
Prepare and monitor development cost reports track budget-to-actual variances and analyze project-level cash flows
Ensure timely and accurate submission of funding requisitions to lenders investors and public agencies
Oversee the preparation and review of cost certifications final LIHTC submissions and 8609s
Collaborate with development managers to provide real-time financial insight for budget revisions change orders and funding drawdowns.
Corporate Accounting
Direct the preparation of quarterly AHF/AHM Guarantor financial statements ensuring accuracy completeness and compliance with GAAP as well as the Real Estate Owned (REO) schedule
Manage corporate cash flow forecasting treasury operations and intercompany account reconciliations.
Lead corporate budgeting and forecasting partnering with department heads to align budgets with operational and strategic priorities.
Oversee corporate payroll accounts payable accounts receivable and fixed asset management.
Direct the preparation of AHF consolidated corporate financial statements ensuring accuracy completeness and compliance with GAAP
Coordinate annual corporate audits and tax filings with external auditors and tax advisors.
Maintain and continuously improve internal controls policies and accounting procedures across the organization.
Property Accounting
Supervise accounting for stabilized and operating properties including preparation and review of monthly and quarterly financial statements.
Oversee rent roll reconciliations tenant receivables and delinquency monitoring ensuring compliance with affordable housing program rent restrictions.
Monitor and reconcile operating and replacement reserves in accordance with lender investor and regulatory requirements.
Ensure timely preparation and submission of lender and investor financial reporting packages including variance explanations.
Collaborate with property management to monitor expense controls budget adherence and net operating income performance.
Review and approve annual operating budgets for each property ensuring accuracy and alignment with financing and compliance requirements.
Support annual property audits tax return preparation and investor compliance certifications.
Leadership & Strategic Support
Lead mentor and develop the accounting team (9 including 2 managers) fostering professional growth and cross-training in development corporate and property accounting disciplines.
Partner with the CFO to assess financing structures evaluate investment opportunities and analyze organizational financial health.
Act as a liaison between accounting development construction asset management property management and compliance teams to ensure seamless coordination and reporting.
Drive process improvements technology adoption and system integrations to streamline accounting workflows and enhance data accuracy.
Qualifications :
Qualifications
Bachelors degree in Accounting Finance or related field; CPA and/or MBA preferred.
Minimum 12 years of progressive accounting experience with at least 7 years in a leadership capacity in multifamily affordable housing development.
Proven track record managing LIHTC accounting cost certifications and affordable housing compliance reporting.
Deep understanding of development accounting transactions including construction draws equity installments acquisitions and dispositions.
Demonstrated experience in corporate and property-level accounting in a multi-entity environment.
Proficiency in real estate accounting software (Yardi MRI Sage or equivalent) and advanced Excel skills.
Strong knowledge of partnership/joint venture accounting equity waterfalls and investor reporting requirements.
Excellent analytical organizational leadership and communication skills.
Preferred Attributes
Experience with HUD programs HOME funds Section 8 LIHTC and other public financing sources.
Ability to manage competing priorities in a fast-paced deadline-driven environment.
Skilled at building collaborative relationships across multiple departments and external partners.
Commitment to accuracy integrity and compliance.
Compensation: Competitive salary commensurate with experience performance-based bonus comprehensive benefits.
Additional Information :
All your information will be kept confidential according to EEO guidelines. #indst
Remote Work :
No
Employment Type :
Full-time
Employment Type
Full-time
