Controller – #21492

Foster McKay; New Jersey; On-site; USD 120,000 - 180,000; Full time

Job summary

Foster McKay is seeking a Controller for a growing residential real estate development and property management company in Union County, NJ. The role reports to the Owner and oversees development and property accounting, payroll/HR, and staff supervision, coordinating with lenders and outside CPA firms.

Responsibilities include underwriting new deals, preparing fixed asset schedules, and producing timely monthly and quarterly ownership reports.

Qualifications

• 7+ years of Real Estate Development / Construction / Residential Development experience.
• Experience using ADP for Payroll and HR Support functions.

Responsibilities

• Oversee daily accounting for family-owned real estate development & property management.
• Responsible for payroll and HR duties.
• Supervise accountants, property managers and project managers.
• Create monthly, quarterly and annual reports for ownership.
• Underwrite new development deals, budgets and proforma models for banks.
• Coordinate financing with banks for construction and permanent funds.
• Review monthly loan draw packages before bank submittal.
• Implemented Sage Intacct & Procore.
• Manage external service providers and related costs.
• Ensure working capital is maintained.
• Develop and maintain financial policies for development accounting.
• Prepare monthly/quarterly reporting with GL analysis of fixed assets.
• Maintain fixed asset system including depreciation.
• Ensure timely property tax payments and annual tax filings.

Skills

Real estate

Accounting leadership

HR oversight

Team supervision

Tools

Sage Intacct

Procore

ADP

Job description

“The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle.”

Our client, a growing Residential Real Estate Developer, is looking to hire a Controller. Their projects range from $20-30M and include apartments and mixed-use retail space. They are currently working on two $25M residential complexes, and own and operate all the properties they build.

This position is in office 5 days a week in Union County, NJ.

What would I be doing?

Position Summary

The Controller will handle all Real Estate Development Accounting, Property Accounting and Finance, as well as oversee HR and Operations, working directly with the Owner. Will work closely with outside CPA firm as well. Supervise Accounting Staff (including an Accounting Manager and Bookkeeper roles, and some of the Operations and HR functions), as well as M/E close, financials, insurance, and working with Lenders, Banks, etc.

• Oversee all daily accounting functions for family-owned real estate development and property management company. Report directly to principal of the company.
• Responsible for all payroll and human resources duties.
• Supervise team of accountants, property managers and project managers.
• Create monthly, quarterly and annual reports distributed to ownership.
• Underwrite new development deals, including creating budgets and proforma models to be presented to banks for construction financing.
• Work with financial institutions to obtain both construction and permanent financing for all projects (placed $70M of bank financing in the first year with the company).
• Review monthly loan draw package for construction projects before bank submittal.
• Implemented Sage Intacct & Procore, replacing the use of multiple software packages.
• Manage external service providers and associated cost, calculate and process monthly developer/asset management fees. Ensure proper working capital is established and maintained.
• Develop and maintain financial policies and procedures related to development accounting.
• Prepare required monthly and quarterly reporting for ownership, which includes general ledger analysis of correctly fixed asset classification.
• Maintain fixed asset system for ownership, including monthly updates, analysis, and recording of depreciation.
• Ensure timely payment of personal property taxes and filing annual tax reports with government agencies.

What would make me qualified?

Qualifications

• 7+ years of Real Estate Development / Construction / Residential Development type experience required. Understanding Residential Real Estate Development is key, as this role can be very hands on in a growing development company.
• Experience using ADP for Payroll and HR Support functions.