Real Estate Portfolio Accounting Manager - Hybrid Work Environment

The Opportunity

The Portfolio Accounting Manager is responsible for managing accounting and financial reporting for Northland's multifamily and commercial properties and consolidated funds, including internal and external financial reporting, and assisting with year-end audits and tax returns, both property level and consolidated Fund level. The Portfolio Accounting Manager oversees a property accounting team of accountants. In addition, the Portfolio Accounting Manager is responsible for working with the accounting management team in order to develop best practices, internal controls, and opportunities to create efficiencies and implementing those practices within the Accounting Department. The Portfolio Accounting Manager plays an integral part in employee selection, training, and feedback, establishing performance standards, monitoring performance, and identifying opportunities for staff development. This will be a hybrid position, working both in office and remote.

Essential Functions

The following list of essential job functions is not exhaustive and may be supplemented or modified, as necessary.

• Review and understand monthly financial packages, including balance sheets and monthly operating statement variances reports, prepared by a team of property accountants for a portfolio of 100+ properties (primarily multifamily, with some commercial and mixed use properties) contained within a series of private equity funds.
• Review monthly work papers, bank reconciliations, cash transfers, and mortgage payments prepared by property accountants.
• Review and maintain accounting records, which include account analysis and financial statement analytical review, and also includes reviewing journal entries, and bank reconciliations.
• Assist the Real Estate Portfolio Controller with accounting for dispositions, acquisitions, and refinancing of property mortgage notes.
• Prepare annual audited financial statements and assist the Real Estate Portfolio Controller in reviewing audit and tax work paper packages.
• Liaison with outside tax preparer to facilitate the timely preparation of Federal and State tax returns for managed properties and assist in reviewing tax returns.
• Assist the Real Estate Portfolio Controller and the accounting team in understanding the impact of depreciation, amortization, state franchise taxes and 1031 Exchanges on the financial statements and tax returns.
• Participate in the annual financial planning and detailed budgeting process, including semi-annual forecasting, working with Regional Managers, Asset Management, Project Managers, and property accountants to produce the final reports.
• Monitor compliance with debt covenants and review lender reporting including timely distribution of audited reports to Lenders.
• Assist in documenting and maintaining accounting policies for Northland's properties.
• Liaison with other key departments, including Investments, Investor Relations, Corporate Accounting, Asset Management, Legal, and Treasury for information sharing and collaboration.
• Assist Real Estate Portfolio Controller and others in management team in external reporting (lenders, partners, and investors).
• Interview, train, mentor, and evaluate direct reports to ensure effective support. Review the efforts of team and provide direction where needed, ensuring timely completion of tasks and projects in accordance with mutually agreed upon goals and objectives.
• Analyze employee and team performance and develop and implement ways to increase efficiency and productivity and enhanced understanding of their roles and responsibilities.
• Assist the Real Estate Portfolio Controller on special projects as assigned. Take the lead on special projects as assigned.
• Read, understand, comply with, and enforce all Northland Investment Corporation policies and procedures.

About You

A Bachelor's Degree in Finance or Accounting, plus five years of accounting experience with at least two years of supervisory experience is required.

The individual must possess the following knowledge, skills and abilities and be able to explain and demonstrate that he or she can perform the essential functions of the job, with or without reasonable accommodation, using some other combination of skills and abilities.

• Experience preparing audited financial statements required.
• Public/private real estate and Fund accounting experience preferred.
• CPA license and public/private accounting background is preferred.
• Experience with MRI and/or Yardi Software preferred.
• Thorough understanding of full-cycle accounting transactions, and their effects on the General Ledger and financial statements.
• Experience in preparing complete financial analysis and financial statements, including footnotes.
• Must have a very good working knowledge of generally accepted accounting principles, income tax basis accounting, and be knowledgeable in tax accounting theory and tax compliance rules with the aptitude to research and learn new concepts.
• Strong organizational skills and desire to create high quality finished work.
• Familiarity with real estate concepts.
• Advanced competency with computer, peripherals, and variety of software including Microsoft Office 365.
• Strong verbal and written communication skills.
• Solid analytical and problem-solving skills, as well as attention to detail.
• Ability to handle pressure, meet deadlines, and set priorities for workload.
• Ability to manage time effectively to support multiple tasks simultaneously.
• Ability to interpret responsibilities and possess the initiative and willingness to assume additional responsibilities.
• Ability to work in a collaborative environment and maintain a cooperative, productive atmosphere.
• Ability to lead by example in setting high work standards and holding your team accountable for the same quality standard.
• Ability to communicate effectively with site managers.
• Experience managing a team and mentoring others.