Senior Real Estate Accountant

Realty Income; Greater London; On-site; GBP 45,000 - 65,000; Full time

Job summary

A leading real estate investment trust is seeking a Senior Accountant to prepare and analyze financial reports, manage month-end close procedures, and collaborate with third-party property managers. Ideal candidates will possess a strong background in commercial real estate accounting and be fully qualified. This role offers an opportunity to impact the development of the accounting function in a rapidly expanding company in the UK.

Benefits

Diversity and inclusion commitment

Career growth opportunities

Positive community impact

Qualifications

• Post qualified accounting experience within commercial real estate.
• Organized and detail-oriented, with ownership of work.
• Able to meet strict reporting deadlines.

Responsibilities

• Prepare and review monthly financial reports and analysis.
• Perform month-end close procedures for balance sheet and income statement.
• Support internal and external audit processes.

Skills

Financial acumen

Strong communication skills

Organization and efficiency

Fast-paced environment adaptability

Education

Qualified accountant (ACA/ACCA/CA or equivalent)

Tools

Yardi general ledger software

Microsoft Excel

Microsoft PowerPoint

Job description

About Realty Income

Realty Income (NYSE: O), an S&P 500 company, is a real estate partner to the world's leading companies. Founded in 1969, we invest in diversified commercial real estate and have a portfolio of 15,600 properties in all 50 U.S. states, the UK and six other countries in Europe, with a gross book value $58bn. We are known as "The Monthly Dividend Company®" and have a mission to deliver stockholders dependable monthly dividends that grow over time. Since our founding, we have declared 656 consecutive monthly dividends and are a member of the S&P 500 Dividend Aristocrats® index, having increased our dividend for the last 30 consecutive years.

You will be joining one of the largest Real Estate Investment Trusts in the world as we rapidly expand into the UK and European markets, including moving into new offices at 3 St. James's Square.

The European portfolio, including the UK, has experienced consistent growth quarter-on-quarter since our first international acquisition, a £429m 12-property portfolio from Sainsbury's in 2019. In just five years the portfolio now includes investments of over $11bn, and 483 distinct properties.

The depth and scope of the role will enable you to make an impact on the development of the accounting function, taking on additional responsibilities and challenges; with dynamic opportunities for career growth as the company expands.

Position Overview

The Senior Accountant is responsible for the preparation and review of monthly financial reports and analysis in accordance with company accounting policies. The job involves preparation of complex journal entries, balance sheet account reconciliations, analysis and comments. The ideal candidate has a continuous improvement mindset and will aim to increase the efficiency of the processes. The Senior Accountant liaises with third-party property managers and internal teams to ensure adherence to company policies and accurate and timely execution of the operating procedures.

Key Responsibilities

Financial Reporting and Analysis

• Timely perform month-end close procedures for assigned balance sheet and income statement reconciliations in accordance with the company accounting policies.
• Review assigned month-end close work papers and journal entries.
• Perform monthly financial statement fluctuation analysis.
• Provide supporting documents for audit; work with internal/external auditors to comply with local audit requirements including participation in internal control walkthroughs.

General Ledger

• Analyse and interpret GL data to ensure proper revenue and expense recognition.
• Record property acquisitions, review transaction information.
• Prepare/review monthly bank reconciliations.
• Obtain, manipulate, and incorporate data from third parties into account reconciliations of journal entries.
• Prepare payment calculations, distributions, and reporting packages for JV partners.
• Analyse and interpret GL data to ensure proper recognition of equity and loan advances.

Financial Operations Accounting

• Oversee third-party property managers as it relates to Operational Accounting:
  • Calculating and collecting rents, service charge expenses, insurance premiums, and tax expenses.
  • Insurance and property tax payments, accruals, and recoveries.
• Review coding instructions for vendor invoices supporting other teams/departments.
• Review and oversight of accounts receivable balances for countries under responsibility.
• Proactively follow up on past due amounts and address any client disputes regarding billing activities.
• Oversight of cash application for portfolio tenant ledger charges.
• Analyse lease agreements to determine straight-line rent calculations.
• Support acquisitions on-boarding.

Other Responsibilities

• Support/back up other accounting functions as needed.
• Consistently review current processes for improvement.
• Performs other special projects as assigned.

Candidate Requirements

Knowledge, Skills, and Abilities

Must have for the role

• Suitable post qualified accounting experience within commercial real estate.
• Fully qualified accountant (ACA/ACCA/CA or equivalent) or equivalent work experience.
• Strong financial acumen and knowledge of financial statements, and a thorough understanding of general accounting standards.
• Must be organized, detailed, flexible, efficient, and take ownership of own work product.
• Ability to work in a fast-paced environment and meet strict month and quarterly reporting deadlines.
• Strong verbal and written communication skills.
• Excellent PC skills, including Outlook, Word, Excel, and PowerPoint.

Desirable but not essential

• REIT experience.
• Yardi general ledger software experience.
• Top 4 qualified.

Our Mission & Values

For more than 50 years, Realty Income has been guided by our mission to invest in people and places to deliver dependable monthly dividends that increase over time. We do this by nurturing long-term, meaningful relationships that enable people to achieve a better financial outlook. We understand that when individuals succeed financially, they are able to provide for their families, support local businesses and pursue their greatest ambitions, creating a lasting positive impact on communities.

Realty Income is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, sexual orientation or educational background.