Senior Portfolio Accountant Real Estate

HR Advantage, LLC; Boston (MA); On-site; USD 80,000 - 110,000; Full time

Job summary

A leading company engaged in real estate accounting in Boston is seeking a Senior Portfolio Accountant. The role demands extensive knowledge in GAAP compliance, financial reporting, and real estate accounting, ideally using Yardi software. Candidates should possess strong analytical and communication abilities with at least 4 years of relevant experience, including property management.

Qualifications

• 4+ years of accounting experience, including 3 years in property management.
• Prior supervisory experience required.
• Ability to work independently with strong attention to detail.

Responsibilities

• Review third-party property management reports for compliance with GAAP.
• Prepare quarterly analytical reports and budget variance narratives.
• Support Asset Managers with portfolio financial documentation.

Skills

Organizational Skills

Analytical Skills

Communication Skills

Interpersonal Skills

Education

Bachelor's degree in Finance or Accounting

Tools

Yardi

Job description

The position of Senior Portfolio Accountant reports to the Controller of Portfolio Accounting.

Essential Duties and Responsibilities:

1. Review monthly and quarterly third-party property management reports to ensure compliance with GAAP and funds' policies, procedures, and guidelines. Review and summarize variances between properties' actual results and their corresponding approved plans and/or pro forma purchase underwriting.
2. Confirm proper accrual accounting for expenses and their escalation and pass-through to tenants.
3. Prepare various quarterly analytical reports, budget variance narratives, and other support in connection with the focus meetings.
4. Provide ongoing support to the Asset Managers, Controller, Assistant Controller, and Manager for assigned portfolios.
5. Act as a resource to third-party accountants in relevant accounting policies, procedures, and systems including: cash collections and disbursements, accounts receivable monitoring, annual budget preparation, intercompany accounting, and cash forecasting.
6. Assist in supporting our company in Los Angeles by:

• Supplying documentation to support quarterly and annual financial statements for investors and lenders.
• Preparing loan draw and escrow release documentation.
• Assisting in the process of approved funding requests of monthly, emergency, and security deposit cash requirements between the property managers and Los Angeles.

Assist in the annual business planning, budgeting, and reforecasting processes for multiple portfolios.

Monitor REIT compliance and debt compliance at the property level.

Assist in preparing supporting schedules for state and federal tax returns.

Monitor appropriate real estate tax amounts funded to and disbursed from the properties' Operating Accounts seven days prior to their respective due dates.

Assist in accounting for acquisitions and dispositions, and coordinate the New Property Transition per Yardi process with the Property Manager, along with the Asset Manager.

Assist in reviewing various functional areas supporting property accounting for the Light Industrial Platform, as needed.

Qualifications:

• Bachelor's degree, preferably in Finance or Accounting.
• At least 4 years of accounting experience, including 3 years in property management or real estate accounting.
• Significant experience with property management software, with Yardi preferred.
• Exceptional organizational skills, ability to multitask, prioritize, and meet deadlines. Prior supervisory experience required.
• Ability to work independently with strong attention to detail and follow-through.
• Strong analytical, communication, and interpersonal skills.

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