Our real estate client is looking to bring on a Sr. Property Accountant to their team on a fulltime basis. The role is hybrid in Oak Brook, IL.
Responsibilities:
• Prepare monthly, quarterly, and annual financial statements for assigned properties, including income statements, balance sheets, and cash flow statements.
• Ensure all financial records are maintained in accordance with GAAP and company policies.
• Review and post journal entries, including accruals, deferrals, and reclassifications.
• Assist in the preparation of annual property budgets and forecasts.
• Monitor variances between actual financial performance and budget/forecast, providing detailed variance analyses.
• Manage cash flows, including monitoring property cash balances and recommending transfers as necessary.
• Perform monthly bank reconciliations and ensure the timely resolution of any discrepancies.
• Review and process accounts payable, ensuring accurate coding and compliance with contracts and lease agreements.
• Oversee the accounts receivable process, ensuring timely and accurate invoicing, tenant billing, and collections.
• Assist with lease audits and rent roll reconciliation.
• Prepare common area maintenance (CAM) reconciliations, real estate taxes, and insurance reconciliations annually, working closely with property managers and tenants.
• Ensure timely and accurate general ledger maintenance, including reconciling all balance sheet accounts on a monthly basis.
• Assist with month-end and year-end close processes, ensuring deadlines are met and all required documentation is prepared.
• Support internal and external audits by preparing required schedules and providing information as needed.
• Ensure compliance with Sarbanes-Oxley (SOX) and other regulatory requirements.
• Collaborate with property managers, asset managers, and other departments to ensure accurate and timely financial reporting.
• Provide financial insights to assist in strategic decision-making regarding property performance.
Qualifications:
• Bachelor's degree in Accounting, Finance, or related field required.
• CPA designation preferred but not required.
• 5+ years of experience in property accounting, real estate accounting, or a related field.
• Strong understanding of GAAP and property accounting principles.
• Experience with property management accounting software (e.g., Yardi, MRI, RealPage).
• Skills & Competencies:
• Advanced proficiency in Microsoft Excel (pivot tables, VLOOKUPs, data analysis).
• Excellent attention to detail and organizational skills.
• Ability to manage multiple properties and deadlines simultaneously.
• Strong analytical and problem-solving skills.
• Ability to communicate effectively with stakeholders at all levels.
• Knowledge of property taxes, insurance, CAM reconciliations, and lease agreements.
• Experience with budgeting, forecasting, and variance analysis