Position Title: Portfolio Accountant FLSA Status: Exempt
Position Summary: The Portfolio Accountantis responsible for the full cycle of accounting and reporting for a portfolio of retail and mixed-use real estate investments. Effectively act as a controller for a portfolio of properties and perform all related accounting functions associated with these properties. The position requires a dynamic accounting professional who can work independently, prioritize tasks, is highly organized andcomfortable handling shifting priorities. A successful candidate will demonstrate an ability to meet deadlines while delivering quality work in a fast-paced environment.
Major Duties and Responsibilities
- Prepare timely, complete, and accurate monthly financial reports including calculation and posting of associated accruals, interest amortization, prepaid expenses, bank and other reconciliations, and property budget variance analysis
- Responsible for cash management and weekly check run process while ensuring proper invoice coding
- Prepare monthly cash flow forecasts
- Review daily application of cash receipts and calculate monthly management fee
- Prepare capital call, cash requests, and Owner distributions as needed
- Prepare required loan and escrow draw down requests as needed for assigned portfolio
- Responsible for proper billing and review of monthly rent up calculations and other non-revenue charges
- Ensure financial terms of tenant leases (base rent, % rent, recoveries, etc.) are billed correctly
- Analyze AR and work with property management team members to ensure proper reserves
- Assist with preparation of year end budgets and monthly / quarterly reforecasts for assigned portfolio
- Review all new and existing debt agreements and calculate covenant testing to ensure debt compliance
- Ensure compliance with all Owners’ policies and procedures for assigned portfolio
- Assist Property Management teams with tenant account reconciliations
- Prepare CAM/INS/RET recovery models for review by Portfolio Accounting Manager, Property Manager, and Asset Management
- Responsible for creation of percentage rent calculation spreadsheets
- Review new leases and lease abstracts for financial statement impact (TA, LC, TI, etc.)
- Calculate tax and GAAP depreciation using BNA system
- Assist in creation of property financial statements
- Prepare interim and year-end audit and tax work papers
- Assist with property acquisitions and dispositions and associated proration calculations
- Coordinate with Treasurer to set up new bank accounts
- Ensure accurate completion of annual income and expense forms for real estate tax jurisdictionsand file personal property tax returns where applicable
- Ad hoc reporting for Owners
- Other related duties as assigned
Qualifications
- An undergraduate degree in accounting or finance required
- 2+ years relevant accounting experience, real estate preferred, retail real estate highly preferred
- CPA preferred
- Experience and understanding of automated accounting systemsand AP data imaging,MRI and Nexus Payables a plus
- Proficiency in MS Excel and Word required
- Ability to work independently with limited supervision
- Strong interpersonal and organizational skills with the ability to multi-task and prioritize
- Self-motivated, team-oriented, dependable, responsible, flexible and professional