Project Accountant

Harmony Housing Affordable Development Inc. (“HHAD”) is among the largest real estate developers of affordable rental housing in the United States. Our mission is to positively impact communities by creating and preserving quality affordable housing for low wealth households. HHAD is a wholly owned subsidiary of Harmony Housing, a 501c3 not-for-profit owner and operator of affordable housing. Our fast-growing organization is currently seeking a detail-oriented and experienced Project Accountant to join the expanding Finance Team . This individual will play an integral role in the growth of HHAD’s affordable housing development business. The ideal candidate will be responsible for managing the financial aspects of affordable housing projects, ensuring compliance with regulatory requirements, and providing accurate financial reporting to stakeholders. This position works in close coordination with HHAD’s Construction, Development, Finance, and Executive teams and is based in our Raleigh, North Carolina office, reporting to the Director of Project Accounting. This position is responsible for all aspects of development project accounting and is the primary accounting liaison to internal and external partners for assigned projects. Key responsibilities include establishing and maintaining accounting systems to track financial and job/cost information for development projects with multiple funders; ensuring that recording structures apply the appropriate generally accepted accounting principles (GAAP); and oversight of construction project funding and draw processes to ensure the timely distribution of costs to the appropriate funding sources. This position requires a great deal of autonomy and accountability, along with strong experience in financial analysis, low-income housing tax credits, general accounting practices, critical thinking and problem solving, negotiating, and teamwork. Project Accounting Process all accounts payable for development projects and ensure that payments are properly authorized, coded, documented and are mathematically accurate; maintain accurate and comprehensive payment schedules and cost allocations to ensure accurate repayment of all advances Prepare monthly interest invoices for all pre-development advances as applicable Create project specific draw procedures and process draw requests for various funders including banks, LIHTC syndicators, and governmental entities, to include contractor pay applications, approved change orders and soft cost invoices related to development activities; review and ensure all documentation is complete and accurate Maintain accurate records of all transactions related to funding draws, including invoices, receipts, and payment records; perform in-depth reconciliation of development costs from inception to construction closing to stabilization and close‑out Assist in monitoring project budgets, ensure development sources and uses remain balanced, and provide insights into cost management and financial performance Participate in project meetings and contribute to financial decision‑making processes Prepare closing draws, facilitate, and organize varied due diligence requirements for project closing and funding requests; review closing statements for accuracy Track balances of remaining funds available, ensuring continuous reconciliation of project sources and uses Compile information for external auditors as required for project cost certifications Assist with project close‑out process as may be required Revenue Management Review Developer Agreements to accurately predict accrued developer fees earned and anticipated receipt Reconcile development project receivables and provide monthly report on HHAD pre‑development advances to development projects and estimated repayment schedules Regulatory Compliance Ensure continuous adherence to local, state, and federal regulations related to affordable housing financing and reporting Prepare and submit required reports to funding agencies, regulatory bodies, and stakeholders in a timely manner Review project partnership and financial documents and ensure funding terms and conditions are consistently maintained Experience, Skills, and Abilities Required Bachelor’s degree in accounting, finance, construction management, or a related field. Minimum of three (3) years of increasing responsible accounting experience with an emphasis in real estate or construction accounting. Experience in accounting processes for LIHTC and tax‑exempt bond properties, and familiarity with affordable housing funding programs and compliance regulations is a plus. Demonstrated excellent analytical, problem‑solving, and decision‑making skills High‑energy, accurate, organized, highly detailed, and results‑oriented professional with demonstrable ability to successfully manage multiple projects and successfully work under pressure of strict deadlines Excellent written and oral communication skills with an ability to clearly and concisely express ideas, thoughts, and concepts verbally and in writing Strong financial and analytical skills, as well as advanced computer skills (Excel, Word, Adobe and SmartSheet); spreadsheet management experience including the ability to link and transfer data Ability to manage daily responsibilities and projects with minimal direction, while also working in close collaboration with a team to provide solutions where needed Ability to maintain a “big picture” focus while attending to very detailed work and providing thorough documentation Resourceful, flexible and maintain the ability to react and respond quickly towards positive outcomes Strong personal standards and values consistent with HHAD’s core values (entrepreneurial, integrity, caring, and excellence) A satisfactory background check will be required as part of the selection process. At Harmony Housing Affordable Development (HHAD), we believe that finding creative solutions for our clients comes from the collaboration of people with diverse backgrounds and perspectives. We strive to build a work environment that empowers all individuals with opportunities to channel their entrepreneurial spirit. HHAD is an EEO employer. #J-18808-Ljbffr Harmony Housing Affordable Development