Development Accountant

Richman Property Services; Greenwich (CT); Hybrid; USD 75,000 - 110,000; Full time

Job summary

The Richman Group Development Corporation (TRGDC) is hiring a Development Accountant in Greenwich, CT. The role supports accounting and financial reporting for a portfolio of development projects from acquisition through construction to stabilization.

The position requires GAAP knowledge, rental housing program experience, and strong Excel with accounting software proficiency. Hybrid schedule includes 3 days onsite and 2 days remote, standard hours Monday–Friday.

Qualifications

• Requires a 4-year Bachelor's degree in Accounting, Finance or related field.
• 2-5 years accounting experience in real estate development, multi-family, or related fields preferred.
• LIHTC portfolios, HUD and tax-exempt bond experience desirable.
• Strong GAAP understanding related to real estate development accounting and construction cost tracking.
• Advanced MS Excel skills and experience with Yardi, MRI, JD Edwards, Sage or similar systems.

Responsibilities

• Maintain the general ledger and project accounting records for development entities.
• Prepare and analyze monthly, quarterly, and annual financial statements.
• Record and reconcile development costs, construction expenditures and project funding sources.
• Monitor project budgets and compare actuals to approved budgets.
• Prepare lender and investor draw packages and review requisitions for payments.
• Coordinate with construction, development and finance teams for timely draw submissions.
• Assist with LIHTC, HUD, tax-exempt bond and other affordable housing program reporting.
• Prepare development budgets, sources and uses statements, and cash flow forecasts.
• Collaborate with development, construction, legal, asset management and corporate accounting teams.

Skills

GAAP knowledge

Communication skills

Education

Bachelor's degree in Accounting, Finance or related field

Tools

Yardi

MRI

JD Edwards

Sage

MS Excel

Job description

Join our growing Team as a Development Accountant at The Richman Group Development Corporation (TRGDC) in Connecticut!

TRGDC is seeking a full-time Development Accountant to join our team. If you’re enthusiastic, and team-oriented, we want you to join our growing family!

Position:

Development Accountant

Location:

Greenwich, CT, corporate office. The position is a hybrid work schedule working 3-days onsite at our Corporate office in Greenwich, CT, and working 2-days remotely from your home per week. Standard office schedule of 8:00am-5:00pm, Monday through Friday.

Summary:

The Development Accountant is responsible for providing accounting and financial support for a portfolio of real estate development projects from acquisition through construction and stabilization. This position works closely with Development Managers, Asset Managers, Project Managers, lenders, investors, and corporate accounting teams to ensure accurate financial reporting, budget monitoring, loan compliance, and timely funding requests.

Essential Duties and Responsibilities:

Development Accounting & Financial Reporting

• Maintain the general ledger and project accounting records for assigned development entities.
• Prepare and analyze monthly, quarterly, and annual financial statements.
• Record and reconcile development costs, construction expenditures, capitalized expenses, and project funding sources.
• Monitor project budgets and compare actual expenditures against approved development budgets.

Construction Draws & Funding

• Prepare lender and investor draw packages.
• Review contractor requisitions and supporting documentation for payment requests.
• Coordinate with construction, development, and finance teams to ensure timely draw submissions.

Affordable Housing & Tax Credit Compliance

• Assist with accounting and reporting requirements related to LIHTC, HUD, tax-exempt bond, and other affordable housing programs.
• Monitor project costs for compliance with investor, lender, and regulatory requirements.
• Support cost certification processes and coordinate with external consultants and auditors.

Budgeting & Analysis

• Assist in the preparation and updating of development budgets, sources and uses statements, and project cash flow forecasts.
• Analyze project variances and provide explanations to management.
• Review contract commitments, change orders, and project expenditures for accuracy and completeness.

Cross-Functional Collaboration

• Partner with development, construction, legal, asset management, and corporate accounting teams.
• Participate in project meetings and provide accounting guidance related to development activities.
• Support process improvements to enhance financial reporting accuracy and efficiency.

Qualifications:

Education:

• 4-year Bachelor's degree in Accounting, Finance or related field required

Experience:

• 2-5 yeas if accounting experience in multi-family or related industry such as real estate development, construction accounting, affordable housing or property accounting preferred.
• Experience working with LIHTC portfolios or projects, construction loans, or real estate partnerships are desirable
• Strong understanding of GAAP, real estate development accounting and construction cost tracking
• Advanced MS Excel skills, Yardi, MRI, JD Edwards, Sage or similar accounting software systems
• Excellent written and verbal communications skills

We conduct criminal background and drug screenings as part of our hiring process. The Richman Group is an equal opportunity employer, providing employment opportunities to all qualified applicants without regard to race, color, sex, religion, national origin, age, disability, or genetic information.