Senior Real Estate Accountant (Development)

Bisnow; Boston (MA); On-site; USD 90,000 - 125,000; Full time

Job summary

A leading company in residential community development seeks a Senior Accountant to manage financial reporting and the accounting process for their portfolio. The role involves collaboration with various teams and ensuring compliance with GAAP standards. The ideal candidate will have strong analytical skills, advanced Excel proficiency, and experience in real estate development.

Benefits

Health Benefits (Medical, Dental, Vision)

401k program

15 federal paid holidays per year

15 days of PTO

5 paid sick days

Qualifications

• 4-7 years accounting experience, ideally in portfolio or asset management.
• Strong understanding of GAAP standards.

Responsibilities

• Prepare financial statements and reporting packages on time.
• Manage month-end, quarterly, and year-end closing procedures.
• Ensure compliance with accounting standards and company policies.

Skills

Analytical Skills

Communication

Problem-Solving

Organization

Attention to Detail

Education

Bachelor’s degree in accounting

Finance or related field

Tools

Sage

TimberScan

MS-Outlook

Excel

Job description

Our SelectLeaders client builds residential communities with unique, sought-after amenities . They have decades of experience deploying, preserving and growing capital in real estateinvestments and development opportunities throughout the world.

The Senior Accountant will prepare the financial reporting for corporate financial reporting, the portfolio of residential land development and build-to rent (BTR) projects. Lead the month end close process and be responsible for the accounting process for the assigned portfolio of accounts, including account reconciliation, processing invoices, review of accounts payment, intercompany accounting, audits, vendor inquiries, possessing pay applications, reporting requirements and ad-hoc reporting. Collaborate with Acquisitions, Asset Management, Operations, Legal, and Property Management.

Key Responsibilities:

• Financial Oversight: Ensure the accuracy and integrity of your portfolio and corporate financial records and reporting.
• Teamwork and Engagement: Build and maintain strong relationships with peers, vendors, financial institutions, and auditors.
• Regulatory Compliance: Ensure compliance with accounting standards (GAAP, Tax Accounting, JV operating agreements), company policies, and external regulatory standards.
• Continuous Improvement: Champion initiatives to enhance efficiency and streamline workflows, mentor and support others, and contribute to the company goals and success.
• Maintain and Development Core Competencies: actively utilize and develop competencies to include but not limited to: research skills, accuracy, organization and time management, initiative and sound judgment, business acumen, and communication.

Position Responsibilities:

• Maintain the general ledger by recording, verifying, and consolidating financial transactions.
• Prepare comprehensive financial statements, reporting packages, including balance sheets, income sheets, and cash flow statements, on a timely basis.
• Reconciles and analyzes various company General Ledgers and portfolio accounts.
• Ensures appropriateness and correctness of recorded entries.
• Maintain the general ledger and portfolio accounts including but not limited to cash, accrued expenses, debt and loan financing, accounts receivable and accounts payable.
• Process annual 1099’s.
• Assist in the preparation of monthly, quarterly, and annual financial support schedules.
• Reconcile bank statements and produce accurate bank reconciliation for portfolio.
• Understand legal entity organization structure to ensure proper accounting procedures are applied at a transactional level.
• Responsible for compiling weekly cash reports and maintenance of cash balances.
• Coordinate with the Accounts Payable Manager for invoices needed to be processed for assigned portfolios. This includes: vendor W9 administration, code and process invoices, weekly check runs in accordance with approved capital calls, lien waiver compliance, expense allocations.
• Manage the month-end, quarterly, and year-end closing procedures.
• Prepare and calculation of management fees.
• Accountable for meeting the timeliness of monthly financial closing schedule.
• Work closely and effectively with asset management, underwriting, marketing, operations, and legal teams to incorporate their insights into accurate financials.
• Implement best practices for data management and ensure consistency in reporting across all entities.
• Responsible for coordinating and preparing portfolio accounts, JV audits with external auditors, investors, and partners.
• Maintains high level of confidentiality of information related to the investors, partners, owners, employees, strategies, financials, compensation, vendors, and organization.
• Perform other duties and special projects as assigned by management.

Essential Skills, Experience, and Preferred Qualifications:

• Bachelor’s degree in accounting, finance, or related field, or equivalent experience
• 4-7 years accounting experience, ideally with 1-3 years of portfolio or asset management industry accounting. Background in real estate development is preferred.
• Strong understanding of GAAP standards
• Advanced Excel skills (pivot tables, VLOOKUP etc.)
• Proficiency in Sage, TimberScan, MS-Outlook.
• Strong analytical skills with the ability to synthesize complex data and communicate insights clearly to non-financial stakeholders.
• Excellent problem-solving skills, ability to think critically to make informed decisions and recommendations.
• Proven ability to manage multiple projects and priorities in a fast-paced environment.
• Strong organization skills and attention to detail.
• Excellent communication skills, both written and oral, with the ability to collaborate successfully with alllevels of stakeholders.
• Proactive individual, possess a strong work ethic, deadline orientated, and team player.

Salary Range/Benefits:

• $90,000-$125,000 base plus annual bonus.
• Health Benefits (Medical, Dental, Vision)
• 401k program
• 15 federal paid holidays per year, 2-3 floating holidays and 15 days of PTO.
• 5 paid sick days.