Primary Function: Oversee the monthly reporting process for assigned commercial and multifamily real estate properties, ensuring accurate and timely financial reporting, while managing the onboarding of new properties and the offboarding of exiting properties.
Education: BS Degree in Accounting, CPA preferred. Minimum seven years' work-related experience, including prior supervisory or review experience.
Qualifications: Extensive accounting experience including financial statement reporting, bank reconciliations, and journal entries. GAAP reporting experience, advanced Excel, and real estate experience are required. Demonstrated ability to review and mentor accounting staff. Experience managing property transitions (onboarding/offboarding) strongly preferred. MRI or Yardi experience a plus.
Key Skills and Core Values:- Leadership and mentorship of Property Accountants and Senior Property Accountants.
- Collaboration with Thalhimer's accounting, property management, and asset management teams.
- Client Focus - addressing questions and requests for information from owners and asset managers.
- Results Focused with the ability to manage multiple priorities and deadlines independently.
- Continuous Improvement - identify and recommend process improvements across the accounting team.
- Excellence and strong attention to detail.
Responsibilities:- Review monthly financial statements and supporting schedules prepared by the accounting team for accuracy and completeness.
- Practical understanding of accounting principles and GAAP reporting requirements.
- Review monthly bank reconciliations and mortgage escrow account reconciliations; resolve escalated or complex reconciling items.
- Review journal entries, including accruals, depreciation, and amortization.
- Review balance sheet reconciliations for assigned portfolios.
- Review calculations of owner distributions and monthly management fees.
- Oversee cash flow monitoring and accounts payable processes across the portfolio.
- Support owners and accounting staff with year-end audit and tax reporting requirements.
- Manage the onboarding of new properties.
- Coordinate the transfer of historical financial data and records from the prior manager, working with IT, treasury manager, property managers, and clients.
- Oversee the setup of new bank accounts and accounting system configuration, and the transition of utility, mortgage, insurance, and other sensitive vendor accounts, coordinating with IT, banking partners, and vendors to ensure all items are completed timely.
- Partner with property management to ensure a smooth transition of financial responsibilities and reporting.
- Manage the offboarding of exiting properties.
- Prepare final financial statements, reconciliations, and closing packages for departing properties.
- Coordinate final owner distributions and settlement of outstanding payables/receivables.
- Ensure proper transfer or closure of bank accounts, escrow accounts, and vendor relationships.
- Facilitate transition of records and financial history to the outgoing owner or new management company.
- Train, support, and evaluate performance of accounting team members, including onboarding of new accounting hires.
- Serve as an escalation point for complex accounting issues and client inquiries.
- Assist with special projects as assigned.
