Sr. Property Accountant

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:

1. Prepare monthly, quarterly, and annual financial statements for assigned properties, including income statements, balance sheets, and cash flow statements.
2. Ensure all financial records are maintained in accordance with GAAP and company policies.
3. Review and post journal entries, including accruals, deferrals, and reclassifications.
4. Assist in the preparation of annual property budgets and forecasts.
5. Monitor variances between actual financial performance and budget/forecast, providing detailed variance analyses.
6. Manage cash flows, including monitoring property cash balances and recommending transfers as necessary.
7. Perform monthly bank reconciliations and ensure the timely resolution of any discrepancies.
8. Review and process accounts payable, ensuring accurate coding and compliance with contracts and lease agreements.
9. Oversee the accounts receivable process, ensuring timely and accurate invoicing, tenant billing, and collections.
10. Assist with lease audits and rent roll reconciliation.
11. Prepare common area maintenance (CAM) reconciliations, real estate taxes, and insurance reconciliations annually, working closely with property managers and tenants.
12. Ensure timely and accurate general ledger maintenance, including reconciling all balance sheet accounts on a monthly basis.
13. Assist with month-end and year-end close processes, ensuring deadlines are met and all required documentation is prepared.
14. Support internal and external audits by preparing required schedules and providing information as needed.
15. Ensure compliance with Sarbanes-Oxley (SOX) and other regulatory requirements.
16. Collaborate with property managers, asset managers, and other departments to ensure accurate and timely financial reporting.
17. Provide financial insights to assist in strategic decision-making regarding property performance.

Qualifications:

1. Bachelor’s degree in Accounting, Finance, or related field required.
2. CPA designation preferred but not required.
3. 5+ years of experience in property accounting, real estate accounting, or a related field.
4. Strong understanding of GAAP and property accounting principles.
5. Experience with property management accounting software (e.g., Yardi, MRI, RealPage).
6. Advanced proficiency in Microsoft Excel (pivot tables, VLOOKUPs, data analysis).
7. Excellent attention to detail and organizational skills.
8. Ability to manage multiple properties and deadlines simultaneously.
9. Strong analytical and problem-solving skills.
10. Ability to communicate effectively with stakeholders at all levels.
11. Knowledge of property taxes, insurance, CAM reconciliations, and lease agreements.
12. Experience with budgeting, forecasting, and variance analysis.