Real Estate Accounting Manager

Job Description

Job Description

Title : Real Estate Accounting Manager

Reports To : Senior Real Estate Asset Finance Manager

Department : Finance

Location : Oakland, CA

Schedule : Monday through Friday

Travel : Local travel may be required

Employee Status : Regular, Full-Time, Exempt

Union : N/A

Supervises : Property Staff Accountant

Benefits

Two weeks of paid vacation a year, sick time, 14 holidays, up to five floating holidays based on employment status, medical and dental benefits on the first of the month following 30 days of employment, life insurance policy at no cost to employees (with the option of increasing policy amount), flexible spending account for medical and dependent care costs, commuter benefits, 403(b) with employer match, and other benefits. We foster a joyful workplace and offer opportunities for professional development and growth.

Agency Summary

The Unity Council is a non-profit Social Equity Development Corporation with an over 60-year history in the Fruitvale neighborhood of Oakland. Our mission is to promote social equity and improve quality of life by building vibrant communities where everyone can work, learn, and thrive.

Our programs aim to provide the community with the tools, knowledge, and resources to transform their lives and ultimately achieve their long-term educational, career, and financial goals. These holistic programs and services reach more than 10,000 individuals and families annually in five languages. Programs include early childhood education, youth mentorship and leadership development, employment services, career readiness training, housing and financial stability, senior citizen services, affordable housing and neighborhood development, and arts and cultural events. Our work expands beyond the Fruitvale district and now reaches across Oakland and into Contra Costa County. The Unity Council employs a diverse workforce of more than 300 people who reflect the linguistic, cultural, and ethnic identity of the communities we serve.

Position Summary

The Real Estate Accounting Manager (REAM) is responsible for overseeing Real Estate Development and Property Management accounting, audits and budgeting. This position is responsible for Real Estate Development accounting and audits for projects purchased or built by The Unity Council and its affiliated organizations. Additionally, will support and train users in property management software. The Real Estate Accounting Manager will report to the Senior Real Estate Asset Finance Manager. REAM must be able to adapt to a continually evolving environment, thrive in an autonomous and deadline-oriented workplace, and manage multiple projects.

Essential Duties and Responsibilities

The duties and responsibilities include, but are not limited to the following:

• Effectively manage a property accounting team currently consisting of 1-2 direct reports.
• Lead and direct Property Accountant in preparing financials for residential, office and retail properties.
• Act as liaison between third party clients, property management, real estate development and the property accounting team.
• Work with property accountant on monthly close process.
• Review financial statement packages prior to submittal to property management and external agencies.
• Review property accounts payable.
• Maintain annual filing log and ensure all annual filings are complete, such as Form 571L.
• Assist property accountant with processing debt payments, real estate taxes, owner distributions, payroll reimbursement, intercompany payables, and management fees.
• Manage the annual audit and tax filing process.
• Work with property accountant and property management department on the annual budget process.
• Common Area Maintenance (CAM) reconciliation and billing for commercial properties.
• Coordinate with Property Management department to oversee tenant accounts receivable – timely and accurate billing and move-outs, monitoring of delinquencies.
• Coordinate with Property Management department on the optimal use of operating cash and reserves – budgeting and use of available funds.
• Perform predevelopment accounting and reporting for Real Estate Development.
• Coordinate with Real Estate Development to ensure all real estate activity is reflected in accounting records.
• Review pre-development and construction invoices and process for payment.
• Lead the cost certification for Real Estate Development.
• Prepare monthly financial reporting for Real Estate entities.
• Prepare monthly Asset Management reports for Property Management Team.
• Respond to funders and regulators’ requests for reporting and information.
• Provide projections and forecasting as requested, especially to ensure optimization of year end surplus cash.
• Work in collaboration with property management, real estate development, and the property accountant to successfully transition properties whether newly managed, acquired or built.
• Ensure proper recording of any escrow activity (e.g. loan refinancing, title transfer, etc.)
• Become expert and super user of property management and accounting software (Yardi).
• Assist in software training and implementation.
• Perform other property accounting and finance tasks assigned by Senior Real Estate Asset Finance Manager or Chief Financial Officer.
• Perform and manage annual audit of properties, tasks related to property management for annual audit of consolidated financial statements of The Unity Council, audits and reviews by the government and regulatory entities.
• Ensure compliance with loan covenants and prepare timely compliance reporting for the banks and other entities that provide property financing.
• Generate periodic Asset Management Reporting, property budgets and analysis of actual results vs budgets/forecasts.

Qualifications

• Supervisory experience leading a team of degree accountants preferred.
• 2-5+ years of business finance or other relevant experience
• Strong fluency with Excel formulas and functions
• BA, or BS, or equivalent experience required (Bachelor’s Degree in Accounting/Finance/Economics)
• Experience in nonprofit finance. Real Estate finance, including affordable housing financing, tax credit, HUD and tax-exempt bond structures a plus.
• Strong knowledge of generally accepted accounting principles.
• Advanced computer and Accounting software literacy including but not limited to; MS Office skills (Word, Excel, PowerPoint).

Core Competencies and Skills

• Behave Ethically : Understand ethical behavior and business practices and ensure own behavior and the behavior of others is consistent with these standards and aligns with the values of the organization
• Build Relationships : Establish and maintain positive working relationships with others both internally and externally to achieve the goals of the organization.
• Communicate Effectively : Speak, listen and write in a clear, thorough and timely manner using appropriate and effective communication tools and techniques.
• Focus on Client Needs : Anticipate, understand, and respond to the needs of internal and external clients to meet or exceed their expectations within the organizational parameters.
• Foster Teamwork : Work cooperatively and effectively with others to set goals, resolve problem, and make decisions that enhance organizational effectiveness.
• Lead : Positively influence others to achieve results that are in the best interest of the organization.
• Make Decisions : Assess situations to determine the importance, urgency and risks, and make clear decisions which are timely and in the best interests of the organization
• Organize : Set priorities, develop a work schedule, monitor progress towards goals, and track details, data, information and activities.
• Plan : Determine strategies to move the organization forward, set goals, create and implement actions plans, and evaluate the process and results.
• Solve Problems : Assess problem situations to identify causes, gather and process relevant information, generate possible solutions, and make recommendations and/or resolve the problem.

Physical Requirements

• Must be able climb stairs, reach, bend, lift 20-30 pounds, crawl, kneel, stoop, twist, grasp with hands and fingers materials, use arms and legs, able to walk, climb ladders if applicable.
• Regularly required to sit for long periods of time, and occasionally stand and walk;
• Regularly required to use hands to operate computer and other office equipment;
• Close vision required for computer use.
• Ability to work on a computer for up to 8 hours a day.
• Occasionally required to stoop, kneel, and reach overhead.

Pre-Employment Requirements

• Background/fingerprints
• Reference Checks

This description is not intended to be construed as an exhaustive list of duties, responsibilities or requirements for the position. This position may change or assume additional duties at any time.

*** Please submit your cover letter and resume. ****

The Unity Council is an Equal Opportunity Employer.