Development Accountant

Job Type

Full-time

Description

Seattle, WA

Finance

Full-Time, Exempt, Hybrid -- Monday and Friday On-Site

Compensation: $60,300 - $87,400 annually, depending on experience

Start your career at Bellwether Housing as a Development Accountant in the vibrant city of Seattle, WA!

Who We Are

Established in 1980 with a vision to create urban housing opportunities, Bellwether Housing has been a trailblazer in transforming lives. By breaking down housing barriers, we've empowered individuals and families, especially those from marginalized communities. As we continue to make a lasting impact, we're embarking on an ambitious mission to build and acquire 2,500 homes by 2025. This is your opportunity to be part of our dynamic team and help shape the future of affordable housing!

Position Overview

The Project Accountant is tasked with the accounting of Bellwether construction and development activities. This role is key during our growth phase of adding 2500 new units of affordable housing to the organization. Reporting to the Controller, this role will account for construction in process, track and monitor construction draws, and work collaboratively with our Real Estate Development department. The desirable candidate will have development and construction accounting experience with financial packages that include public and private funding and tax credit investors.

Your Impact

Portfolio/Project Accounting:

• Set up new projects in the accounting system.
• Responsible for the month end close as it relates to construction and development accounting for assigned portfolios.
• Maintain accurate accounting of construction and development activity:
• Review all incoming invoices for proper coding and budget.
• Identify and investigate budget variances and cost-over-runs.
• Maintain a system for tracking construction draws.
• Maintain detailed accounting and tracking of line of credit use.
• Maintain, track and ensure all lien waivers are cleared prior to project close.
• Work closely with Real Estate Development department for key reconciling items.
• Prepare and maintain a fixed asset roll-forward for construction-in-process/development activity.
• Support the Real Estate Development department and Controller with monthly project reports and projection of cash needs.

Project Close-out

• Work Collaboratively with the Real-Estate Development department for project close with Title/escrow. Including:
• Identify funds to bring to close.
• Prepare journal entries to properly reflect closing costs and account for ownership entity transition.
• Assist in the transition of construction loans to permanent financing. Record and set up new loans in loan amortization table.
• Prepare proper accounting for project completion of new construction or rehabilitated fixed asset into operations.
• Ensure all developer fee agreements and sponsor loans have been identified and recorded in the general ledger.
• Prepare supporting workpapers to support the preparation of Cost Certification Reports (where applicable). Work with external auditors to finalize Cost Certification Reports.
• Assist with the preparation of State Housing Tax Credit form 8609.

Consulting Projects

• Ensure timely and accurate billing of 3rd party consulting fees.
• Monitor the collection of client billings and construction management fees.

Annual Projects

• Assists with the annual budgeting process for assigned portfolios and prospective development projects.
• Participates in the preparation of the annual audits:
• Tax Credit Audits
• Wholly-owned
• Non-profit (Consolidated) audit
• Other duties as assigned.

Requirements

Who You Are:

• 3+ years of progressive accounting experience and financial statement preparation.
• Experience in Real Estate and Project Accounting.
• Demonstrated experience developing budgets, forecasts, and complex financial analyses.
• Experience with automated accounting systems and budgeting.
• Experience with interpretation and application of Generally Accepted Accounting Principles with an emphasis in Real-Estate/construction accounting.
• Proficient in MS Office Suite, including the ability to develop advanced spreadsheets, manage databases, and produce meaningful charts and graphs within Excel.
• Proven ability to organize and prioritize multiple projects.
• Excellent independent analytical, problem solving, and decision-making skills.
• Effective verbal and written communication and relationship building skills.
• Bachelor’s Degree in Accounting, Finance, and/or related field OR equivalent work experience.

Desired Qualifications

• Experience with Yardi Voyager ERP system.
• Experience with Tax Credit Partnerships.
• Project management experience.
• Experience working with a diverse group.

What We Offer:

Bellwether Housing is your platform for growth, empowerment, and purpose. When you join our team, you will receive:

• Competitive compensation ranging from $60,300 - $87,400 annually, depending on experience.
• Medical, dental, and vision insurance.
• A 403(b)-retirement plan with an employer match, guiding you towards a prosperous future.
• Fuel for your personal and professional development with $1,500 in employer-paid continuing education per year.
• An ORCA Transit Pass to navigate the city with ease.
• 27 paid days off in your first year and 8 paid office closure days.
• The chance to be part of a transformative mission, leaving a mark on the lives of those we serve in our communities.

At Bellwether Housing, you will elevate your career in a role that's as rewarding as it is impactful, where you’ll be part of a movement that is helping shape the future of affordable housing in Seattle and where diversity, equity, and inclusion are the pillars of our success.

Note: This role requires successful completion of a background check in accordance with Seattle’s Fair Chance Employment Ordinance.

Bellwether Housing is an equal opportunity employer. We will not discriminate based on race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

We support the Americans with Disabilities Act (ADA) to reasonably accommodate all qualified applicants (and employees) by providing reasonable accommodations to people with disabilities. To request Reasonable Accommodation for the application or interview process please contact

Bellwether Housing is dedicated to building a diverse, equitable, and inclusive workplace. We value having employees whose skills, experiences, and backgrounds reflect the populations we serve. We are committed to being an anti-racist organization, while acknowledging we have a long way to go. You can learn more about our DEI work on our website.

Any candidate, whether internal or external, that is selected for this position will be subject to a 90-day probationary period.

Salary Description: $60,300 - $87,400