Job Details

Summary: Responsible for a full range of accounting processes and financial reporting for a portfolio of commercial and residential real estate, and Investment assets. Will partner directly with senior management, the property managers, and third-party management companies in conjunction with planning and reporting periodic performance. Will lead and mentor members of the accounting staff. Assist with projects directed by the senior management team. This will be achieved by performing the following duties.

Essential Responsibilities and Requirements as follows:

Real Estate and Investment Accounting and Reporting

• Prepare monthly, quarterly, and annual financial statements for assigned properties, ensuring compliance with Generally Accepted Accounting Principles (GAAP) and company policies.
• Participate in real estate transactions, including acquisitions, dispositions, and capital improvements, and ensure proper accounting of property-related income, expenses, depreciation, and capital expenditures.
• Analyze monthly Investment portfolio statements and prepare appropriate accounting entries to capture monthly transactions for acquisitions, dispositions, and dividend income and market fluctuations activities on the portfolios.
• Prepares monthly management reports, board book slides, and analysis to be reviewed by senior management, and presented to the Board of Trustees.

Account Reconciliation

• Provide oversight into the reconciliation of cash, investment, and other balance sheet accounts, to maintain accuracy and identify discrepancies.

Annual Budgeting and Five-year Planning

• Collaborate with property management to develop the fiscal year operating and capital spending budgets.
• Lead the process of preparing a five-year plan that will project out operating expenses, capital expenditure and cash flow.

Team Leadership and Staff Development

• Supervise and mentor members of the accounting staff, providing guidance on technical accounting issues, process changes and system developments.
• Assign tasks, review work, and ensure team efficiency.

Fixed Asset Accounting

• Tracking and reporting on capital expenditures through the life cycle, including: Record keeping for periodic spend on expenditures that are tracked through Construction in Progress (CIP); the placement of the fixed asset into service; the posting of monthly depreciation cost, and the processing for any disposition of fixed assets.
• Collaborate with the Treasurer and other members of the Senior Management Team on the compliance and/or updates to the Capital Expenditure Policy.

Cash Flow Analysis

• Prepare and review monthly cash flow statements, forecasting future cash needs and identifying potential issues.

Construction Accounting and Progress Payment Processing

• Plays a vital role in the oversight of financial reporting for all construction projects, ensuring that costs are accounted for and reported accurately.
• Review and provide guidance to Accounts Payable staff on progress payment invoices to ensure proper accounting treatment.
• Review all transactions that are recorded for construction in progress (CIP) and report monthly within the project/property financials.

Property Replacement Reserves

• Responsible in creating a spreadsheet for each property with corresponding invoices and copies of checks every six (6) months to be submitted to the mortgage companies.

Property Common Area and Project Cost Billings

• Prepare and maintain records of billable common area expenses for commercial properties.
• Collaborate with the commercial property management team on the preparation of common area billing cost estimates.
• Perform the annual reconciliation of actual cost to the prior year’s estimate cost.

Vendor & Supplier Contract Management and Oversight

• Oversee financial aspects of supplier and contractor bids and proposals. Ensure compliance with agreed terms, while seeking opportunities to negotiate cost savings and increase project profitability.

Lease Administration and Accounting Oversight

• Review residential and commercial lease agreements to ensure accurate accounting for rental income, tenant security deposits, and lease expirations.

Monthly reconciliation Prepaid Expenses, Accrued Expenses, and Cash Receipts

• Track and manage property tax payments, ensuring accurate recordings of either prepayments or accruals during the year on property taxes, insurance, and other property related expenditures.
• Reconcile monthly property reports of delinquent rents and prepaid rents to cash receipts.

Maintaining the General Ledger

• Prepare and post monthly LLC general ledger journal entries.
• Reconcile monthly balance sheet accounts.
• Update and prepare loan receivables trial balance.

Month-end and Year-end Financial Reports

• Assist in the preparation of month-end financial statements and reports.
• Update monthly stocks and bonds portfolio reports.
• Update monthly reports on Property level statistics and performance indicators.
• Prepare Charts and Graphs as needed in support to financial statements.

Annual Audit Preparation and Support

• Assist in the preparation of supporting annual audit reports.
• Collaborate with external auditors during the annual audit process, providing necessary supporting documentation and explanations.
• Assist in the ongoing review and revision of Policy and Procedures that will continue to change regarding accounting compliance, system changes, or in support of any ongoing risk that may be identified with existing policy.

System Management Support

• Utilize property management software to maintain accurate financial data and generate reports efficiently.
• Ongoing maintenance for the general ledger, setup for new G/L accounts, development of new reporting formats, and reporting structure for tracking capital expenditures and reporting of fixed assets.
• Support the staff as a backup Yardi System Administrator during times when the Administrator for vacation coverage.

Competencies: To perform the job successfully, an individual should demonstrate the following:

Job Knowledge / Technical Skills - Strives to continuously build knowledge and skills.

Customer Service - Manages difficult or emotional customer situations; Responds promptly to customer needs; Solicits customer feedback to improve service; Responds to requests for service and assistance; Meets commitments.

Interpersonal Skills - Focuses on solving conflict, not blaming; Maintains confidentiality; Listens to others without interrupting; Keeps emotions under control; Remains open to others' ideas and tries new things.

Communication - Speaks and writes clearly and persuasively in positive or negative situations; Listens and gets clarification; Responds well to questions; Writing is clear, informative, and professional.

Teamwork - The ability to work effectively with others, balancing the needs of the team and those of the individual; Gives and welcomes feedback.

Administration and Organization Support - Follows policies and procedures. Processes paperwork accurately, timely and legibly.

Productivity - Meets productivity standards; Completes work in a timely manner; Strives to increase productivity; Works quickly.

Attendance Punctuality - Is consistently at work and on time; Ensures work responsibilities are covered when absent; Arrives at meetings and appointments on time.

Professionalism- Approaches others in a tactful manner; reacts well under pressure; treats others with respect and consideration regardless of their status or position; accepts responsibility for own actions; follows through on commitments.

Dependability- Can be relied upon to meet schedules, deadlines, and productivity standards; completes tasks on time or notifies appropriate person with an alternate plan. Ability to travel to other properties, work a flexible schedule including filling-in when other properties are understaffed and work during holidays and weekends (when necessary)

Appearance and Grooming- Practices and appropriate grooming, hygiene, and attire selection.

Initiative- Volunteers readily; undertake self-development activities; seek increased responsibilities; takes independent actions and calculated risks; looks for and takes advantage of opportunities; asks for and offers help when needed; Sets and achieves challenging goals; Demonstrates persistence and overcomes obstacles; Measures self against standard of excellence.

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

• Proven experience in property accounting, preferably in commercial real estate
• Strong understanding of GAAP accounting principles
• Proficiency with accounting software and property management systems
• Leadership and team management abilities
• Excellent analytical and critical thinking skills
• Meticulous with strong organizational abilities.
• Strong analytical and critical thinking skills.
• Ability to work independently and meet deadlines.
• Effective communication and people skills.

Ability to adapt and respond to various situations.

Strong analytical, problem-solving, and conceptual skills.

Maintains a neat, clean, professional, and positive image always throughout the workday and/or whenever representing the Endowment Board to the public.

Possession of a current and valid CA driver’s license and operating vehicle with valid vehicle insurance.

Exhibit assertive energy, self-reliance, and cordial demeanor.

Positive attitude and ability to work well with others.

Ability to work a flexible schedule including nights and weekends (when necessary to attend Board meetings, company events and other business events)

Excellent written and oral/telephone communication skills that are effective with a broad diversity of audiences.

Excellent computer skills with proficiency in MS Word, Outlook, Power Point, and Excel

Ability to maintain sensitive and confidential information.

Ability to perform highly detailed work on multiple, concurrent tasks with constant interruptions and work under changing deadlines.

• Bachelor’s degree in accounting or finance.
• Proficient with Microsoft Office software and phone systems.
• Five to ten years of industry experience is preferred in Property Management.
• Property management software (e.g., Yardi Systems) preferred.

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this Job, the employee is:

Regular Attendance: This is an in-person position, and duties cannot be performed remotely.

Accounting work is primarily performed in the office, with occasional property walks with the project team to observe/inspect the work in progress and finished projects.

Standing and Sitting: Specific demands for standing and sitting on this job:

· Regularly required to stand

· Regularly required to sit

Walking and Reaching: Specific demands for walking and reaching on this job:

· Frequently required to walk and reach with hands and arms

Dexterity and Sense of Touch: Specific demands for sense of touch and dexterity on this job:

· Repetitive Motions: Regularly required to use hand to finger movements, handle, or feel

Lifting: Specific demands for lifting on this job:

· Occasionally lift and/or move up to twenty-five pounds or more

Visual Acuity: Specific vision abilities required by this job: Required to have close visual acuity to perform activities such as preparing and analyzing the accuracy of data and figures, extensive reading and composing of correspondence and viewing a computer screen for extended periods of time.

· Close vision

· Distance Vision

· Color Vision

· Peripheral Vision

· Depth perception

· Ability to adjust focus

Verbal and Auditory Demands: Specific talking and hearing abilities required by this job:

· Must be able to talk and hear

Work Environment: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

· The noise level in the work environment is usually moderate.

Conditions of Employment: This job has conditions of employment essential to the position. This list is not considered comprehensive and other conditions of employment are likely due to the nature of the position.

· Valid Driver's License

· Meets Company Insurance Carrier Standards for Insurability

· Pass pre-employment Background & Drug & Alcohol Screening