Senior Portfolio Accountant Real Estate
At a glance
Senior Accounting role at Cornerstone HR Advantage LLC. Boston · full-time · no salary stated · we estimate $83,540–$110,913.
Cornerstone HR Advantage LLC has not published a salary for this role. The figure below is our estimate, not theirs.
financeroles summary, based on the employer's posting.
What you'll do
- Check monthly and quarterly property reports against GAAP and fund rules, then explain gaps between actuals and plans or underwriting
- Verify expense accruals and tenant pass-throughs, and prepare quarterly analyses and budget-variance narratives for focus meetings
- Support assigned portfolio teams and advise property accountants on cash, receivables, budgets, intercompany accounting and forecasts
- Prepare investor and lender statement support, loan draw paperwork and cash-funding requests for the Los Angeles team
- Help with portfolio budgets, compliance, tax schedules, property transitions, and acquisition or disposition accounting
What you bring
- At least four years in accounting, including three years in property management or real estate accounting
- Substantial experience with property management software, plus strong Excel skills
- A bachelor's degree and prior experience supervising others
Who this fits
This senior role is based onsite in Boston and reports to the Controller of Portfolio Accounting. It suits someone who can supervise, manage competing deadlines, and work independently while following direction.
From the employer
Senior Portfolio Accountant – Boston, MA
The position of Senior Portfolio Accountant reports to the Controller of Portfolio Accounting.
Essential Duties and Responsibilities:
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.
Confirm proper accrual accounting for expenses and their escalation and pass-through to tenants.
Prepare various quarterly analytical reports, budget variance narratives, and other support in connection with the focus meetings.
Provide ongoing support to the Asset Managers, Controller, Assistant Controller and Manager for assigned portfolios.
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.
Assist in the ongoing support to our comoany in Los Angeles including:
Supply documentation to support quarterly and annual financial statements for investors and lenders.
Prepare loan draw and escrow release documentation
Assist 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 the preparation of 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 the accounting for acquisitions and dispositions, and, along with the Asset Manager, coordinate the New Property Transition per Yardi process with the Property Manager.
Assist in the review of various functional areas in support of the property accounting for the Light Industrial Platform, as needed.
Qualifications:
Bachelor's degree. Finance or accounting preferred.
Must have 4+ years of accounting experience, three years of which must include relevant property management or real estate accounting experience.
Significant experience with property management software. (Yardi preferred.)
Strong Excel skills.
Exceptional organizational skills, with the ability to multitask, prioritize, and meet and enforce established deadlines. Prior supervisory experience required.
Must take direction well, but work independently with strong attention to detail and follow through.
Strong analytical, communication, and interpersonal skills.
We are seeking qualified candidates
Must have 4+ years of accounting experience, three years of which must include relevant property management or real estate accounting experience.
Significant experience with property management software. (Yardi preferred.)
Strong Excel skills.
Exceptional organizational skills, with the ability to multitask, prioritize, and meet and enforce established deadlines. Prior supervisory experience required.
Must take direction well, but work independently with strong attention to detail and follow through.
Strong analytical, communication, and interpersonal skills.
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