Development Accounting Manager

Development Accounting Manager

Boston Office - Boston, MA 02109

Overview

Salary Range $98,000.00 - $120,000.00 Salary Position Type Full Time Education Level 4 Year Degree Category Accounting

Description

The Development Accounting Manager (DAM) will work closely with the Senior Vice President of Finance and Accounting, and Director of Finance and Accounting in both project accounting and corporate accounting for consolidated and intercompany real estate activity. Responsibilities include, but are not limited to, the following:

Corporate Accounting:

• Review intercompany activity between 100 plus property entities and parent companies.
• Assist with tracking of predevelopment funding
• Review schedules and source data for annual corporate audits.
• Assist with review of partnership annual audits.
• Assist with review of partnership and general partner annual tax returns
• Assist with monitoring and maintaining guarantees

Development Accounting:

• Assist with review of closing and financing settlement statements.
• Assist with reviewing monthly development activity
• Assist and review preparation of cost certifications (audits of development activity)
• Assist and review preparation of debt service coverage ratio tests
• Assist and review preparation of 8609s
• Assist with review of deal internal and investor projections
• Supervise junior accountant and potential for supervising other positions within the department

Other Duties:

• The DAM will work collaboratively sharing knowledge and building trust, demonstrating effective leadership through professional work practices.
• The DAM will provide client support for both POAH's housing partners/regulators and investors
• The DAM will support the POAH Inc Board Audit Committee under supervision of the SVPFA and CFO
• The DAM will support the SVP of Finance and Accounting with special projects and aspects of corporate consolidation accounting and budgeting.

Qualifications

Required Education and Experience:

• B.S. in Accounting required
• Minimum of 5-7 years of experience in real estate accounting.
• Affordable housing background, specifically low-income housing tax credits
• Ability to piece together data from many sources and individuals.
• Understanding of nonprofit accounting preferred
• Yardi accounting system and construction module experience preferred
• Audit or tax experience preferred
• Proficiency in use of computers including Word and Excel with advanced understanding of project accounting for real estate Yardi and Crystal reports preferred.

Abilities:

• Ability to work periodic flexible hours and overtime is required. Travel by plane and automobile may be required.
• Ability to deal with stress, manage and motivate people and to meet deadlines and work with extraordinary commitment.
• Ability to understand financial statements and accounting as it relates to apartment operations and complex regulations related to affordable housing.
• Ability to work with computer software such as Yardi, Excel and Word.
• Ability to climb stairs, take elevators, bend, squat and reach over your head.

Key attributes of the successful candidate:

• Self-starting individual who enjoys working in collegial and entrepreneurial setting.
• Ability to piece together data from many sources and individuals.
• Understand nonprofit accounting.
• Understands real estate entity accounting, specifically affordable housing and low-income housing tax credits.
• Yardi accounting system and construction module experience preferred
• Audit or tax experience preferred
• Microsoft Excel, Word, Outlook

Characteristics Duties and Responsibilities:

1. Take complete ownership for areas of responsibility and share information, perspective and expertise with colleagues.
2. Help to sustain a culture of customer service, support and assistance for staff and for those we serve the residents, our colleagues, the owners and our housing partners.
3. Continue with your professional education and industry involvement to ensure that POAH is using the latest techniques and work to ensure that POAH operates within the parameters of accounting standards, GAAP, HUD, state housing agency and all applicable regulations and law.
4. Demonstrate a high level of accounting and analytical ability, financial acumen, accounting software knowledge, personal energy, ability to multi-task and deal with stress, and show superb communication skills, with patience and with an outgoing personality -- successfully interface with all types of people. Build networks, collaborate and solve problems.
5. Exhibit a genuine interest for those of lower income who rely on affordable rental housing and you will be expected to offer ideas / concepts so that POAH can be more effective in serving these clients.