DEVELOPMENT ACCOUNTING MANAGERSUMMARYThe Development Accounting Manager manages all financial aspects of real estate development projects from start to finish, including expense tracking, budget analysis, financial compliance, and stakeholder collaboration. This key role requires an experienced professional to work closely with Property Accounting, Corporate Reporting, and External Reporting teams, which handle accounting and reporting for operating properties, investment entities, and related fund vehicles.
ESSENTIAL JOB DUTIES AND RESPONSIBILITIES- Manage, mentor, train, and support a team of development accountants across all aspects of real estate development accounting, including project setup, cost tracking, reconciliations, invoicing, payments, financial reporting, investor reporting, and compliance procedures.
- Provide ongoing coaching, constructive feedback, annual performance evaluations, and professional development opportunities while establishing team goals, monitoring progress, addressing roadblocks, and ensuring deadlines are consistently met.
- Provide guidance, training, and support to contractors, consultants, joint venture partners, and other third parties to ensure alignment with accounting policies, procedures, and reporting requirements.
- Monitor project budgets, expenses, job costs, and overall financial performance against established benchmarks; oversee cost tracking, reconciliations, invoicing, payments, capital calls, and investor distributions; and provide proactive insights and recommendations to optimize profitability, financial health, operational efficiency, accuracy, and compliance.
- Support fundraising and investment activities by preparing capital calls, coordinating funding requests, tracking investor contributions, and assisting with distributions resulting from asset sales and other investment activities.
- Prepare and review project financials and construction management fee calculations while ensuring the proper and accurate recording of acquisitions, dispositions, and all related transactions in compliance with accounting policies, procedures, internal controls, GAAP, and applicable regulatory requirements.
- Serve as the primary point of contact for clients, lenders, development partners, auditors, tax preparers, investors, and other key stakeholders by providing timely and accurate financial information, addressing inquiries professionally, facilitating audits, and ensuring the timely submission of lender draw packages with complete supporting documentation.
- Review and interpret Development Management Agreements, partnership agreements, loan agreements, and other legal documents to ensure compliance and accurate financial reporting.
- Identify and implement process improvements that enhance operational efficiency, reporting accuracy, internal controls, and overall effectiveness within the accounting function.
- Support special projects and other ad hoc assignments as needed while contributing to the overall success of the team and organization.
Requirements
SKILLS AND EXPERIENCE- Bachelor's degree in Accounting, Finance, or a closely related field.
- 9+ years progressive accounting/financial executive roles: construction/real estate development, large-scale complex projects, senior management/executive leadership.
- Ensure all accounting processes strictly comply with GAAP (Generally Accepted Accounting Principles) and internal policies, maintaining financial integrity and mitigating risk.
- Demonstrated expert-level attention to detail, accuracy, and a commitment to maintaining the highest level of data integrity.
- Excellent written and verbal communication skills, with the ability to communicate financial information clearly and concisely to both financial and non-financial audiences.
- Proven ability to effectively manage multiple priorities, meet tight deadlines, and thrive in a fast-paced and dynamic environment.
- Advanced proficiency in Microsoft Excel, including the ability to create and utilize complex spreadsheets and data analysis tools.
- Experience with real estate accounting software such as RealPage (preferred), Yardi, or MRI, with the ability to learn and adapt to new systems.
- Must have a valid driver's license with no major infractions in the last 12 months.
WORK ENVIRONMENTThe work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is often exposed to outside weather conditions. The noise level in the work environment is usually moderate. This job description is intended to provide a general overview of the Development Accounting Manager role. The specific duties and responsibilities may vary.
