Development Accounting Manager

Preservation of Affordable Housing; Boston (MA); On-site; USD 98,000 - 115,000; Full time

Benefits offered by this job

401(k) with company match

Bonus program

Professional development budget

End-of-year bonuses

PTO and parental leave

Job summary

Preservation of Affordable Housing (POAH) in Boston seeks a Development Accounting Manager to oversee corporate and real estate accounting activities, reporting to the SVP of Finance and Accounting and directing staff. You will manage intercompany activity, development closings, and audits, ensuring accurate financial reporting for a large affordable housing portfolio.

The role combines project and corporate accounting, requires 5–7 years in real estate accounting, and emphasizes nonprofit

Qualifications

• BS 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.

Responsibilities

• Review intercompany activity between 100 plus property entities and parent companies.
• Assist with tracking 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
• 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
• 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.

Skills

Real estate accounting

Data synthesis

Attention to detail

Collaboration

Work under pressure

Education

B.S. in Accounting

Tools

Yardi accounting system

Crystal Reports

Microsoft Excel

Microsoft Word

Job description

Job DetailsJob Location: Boston Office - Boston, MA 02109Position Type: Full TimeEducation Level: 4 Year DegreeSalary Range: $98,000.00 - $115,000.00 SalaryJob Category: Accounting

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.

QualificationsRequired 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

Why Join POAH

• Work at the forefront of affordable housing innovation.
• Collaborate with passionate and dedicated colleagues.
• Competitive salary and comprehensive benefits package.
• Contribute to the betterment of communities nationwide.
• Shape the future of housing policy and finance.

At POAH, we offer

• Competitive salaries and a comprehensive benefits package, including health and life insurance
• Generous leave programs, including PTO and parental leave
• A 401(k) retirement plan with company match
• Individual professional development budget for every employee
• End-of-year bonuses
• A vibrant company culture
• POAH is currently enjoying a remote hybrid schedule which allows employees to work from home but also requires in-office days. An ability to work a remote hybrid schedule is required of all candidates.

POAH is an Equal Opportunity Employer. Diverse candidates are encouraged to apply.

About the Organization: Preservation of Affordable Housing

Preservation of Affordable Housing (POAH) is a national nonprofit organization whose mission is to preserve, create and sustain affordable, healthy homes that support economic security, racial equity, and access to opportunity for all. POAH owns and operates more than 13,000 affordable homes at more than 130 properties in 11 states and the District of Columbia. POAH is based in Boston with offices in Chicago and Washington D.C.

POAH’s reach is national in scope, and its pursuit of the preservation mission is empowered by a focus on the business bottom line. Its strong reputation is the result of a demonstrated ability to craft complex financial transactions, tackle tough multi-family projects, and close deals that preserve the affordability of at-risk properties. The organization and its leaders are at the forefront of policy and legislative discussions around housing preservation, affordable housing finance and regulatory reform, including energy efficiency in the multifamily sector.