Director of Real Estate Accounting

Found in: beBee S US - 2 weeks ago

Chicago, United States Aparium Hotel Group Full time
Position: Director of Real Estate Accounting Location: Chicago, IL Job Id: 3436 # of Openings: 1 Director of Finance + Administration Reports to EVP Asset Management, the position is exempt
WHO WE ARE Hotels done differently. It's not just a slogan or catchphrase, it is who we are in everything we do. We believe in the power of People, Place + Character; ensuring our hotels are a place where individuals are valued and celebrated as a tribute to the neighborhoods and the people of the communities in which we operate; elevating our associates' pride in who they are, where they live and who we serve. Aparium has been recently named to Travel + Leisure's Top 25 Hotel Brands in the World. Driven by the belief that all hospitality experiences should be fueled by the poetics of their surroundings, Aparium was born with an intense focus on unearthing the amazing moments unique to every city. Since its founding, Aparium has grown into a new kind of hotel brand, one that ventures off the beaten path, both geographically and philosophically. It is a sophisticated hotel brand known for its singular ability to combine the business acumen of large hospitality companies with the charm of boutique hotels, bringing disparate forces together in bustling markets (large and small) across the United States. WHO YOU ARE You thrive in an environment where you are charged with finding the best solutions. You are an inherent problem solver, and you take pride in your ability to effectively make and communicate progress and decisions. You don't leave a job half finished, doing whatever it takes to close out a project. You can force rank and set priorities that align with the betterment of the company. You are collaborative, not stubborn, but bear the confidence to step up and own a decision. THE ROLE The Director of Finance + Administration will support Aparium's real estate investment portfolio in the primary functions of accounting, forecasting, cash management, and investment management. These functions include maintaining and ensuring accuracy of partnership books; reviewing and assisting in projecting cash needs at the property and partnership levels; working with consultants and advisors to complete corporate tax returns; monitoring property assessments and taxes to mitigate tax risk; managing Aparium's investor portal and using the portal to effectively and timely communicate with our investors on the status of their investments; organizing and maintaining historical investor documents; additional activities further detailed below and other activities that may be necessary from time to time. WHAT YOU WILL DO
  • Monitor, maintain, and ensure accuracy of ownership/partnership books, records, accounts, and working capital balances
  • Complete monthly financial reporting for ownership/partnership entities
  • Ensure compliance with lender obligations, including the timely delivery of debt service payments and all lender reporting requirements (monthly, quarterly, annually)
  • Validate proper recording of ownership expenses in hotel financials statements and ensure accurate forecasting of ownership expenses in cash flow projections throughout the year
  • Regularly review monthly property-level cash flow projections for accuracy
  • Produce and maintain monthly partnership cash forecasts in collaboration with the asset management team
  • Monitor and help assess total asset cash positions for capital event planning
  • Perform treasury functions on behalf of ownership/partnership
  • Manage Aparium's investor portal and investor communications; work with senior leaders to timely and appropriately respond to investors
  • Lead and manage third-party accounting firms to complete annual corporate tax returns for the real estate investment portfolio; review and finalize all tax returns; manage the preparation, communication, and distribution of tax documents to investors
  • Monitor real estate and personal property assessments; ensure tax bills are timely paid and properly recorded
  • Facilitate wire/ACH transfers to lenders and investors
  • Assist with preparing, reviewing, and organizing investment LLC agreements and investor subscription agreements
  • As may be required, support the development team on historic tax credit preparations and submittals, monitor submittals for state, federal, or municipal incentives
  • As may be required, support the development team with project budget reporting, construction draws, and closeouts
  • Perform special projects as may be required
  • Please note: this role will not be responsible for hotel operational accounting and finance
WHAT YOU WILL NEED
  • 4 - 7 years of experience in commercial real estate and/or hospitality industry on the ownership/partnership side with a focus on accounting or finance
  • Bachelor's degree in business, accounting, or finance required; advanced degree or CPA/CFA appreciated
  • Experience and knowledge of hospitality industry accounting practices, processes and protocols appreciated
  • Excellent analytical and quantitative skills
  • Superior written and oral communication skills to be able to communicate complex analyses in simple terms across a wide audience
  • Ability to work independently and prioritize a multitude of projects
  • Demonstrated proficiency in Microsoft Excel and Microsoft Office Suite
  • Ability to work flexible or extended hours to accommodate increased workload or projects and to attend meetings out of town
HOW YOU LEAD
  • Engage others in general conversation tactics to build rapport quickly; leading and adapting communication and presentation tactics to engage your audience; displaying adaptable interpersonal skills for a wide range of audiences and stakeholders
  • Approach fact-finding and discovery missions in a collaborative effort; valuing input and experiences of others that creates additional insight to uncover deeper issues that may need to be addressed or removed as a barrier to implementation
  • Value the importance of making decisions with integrity, maintaining confidentiality across internal workgroups, and knowing how to use discretion when appropriate; knows how to keep a secret by understanding the difference between transparency and confidentiality
  • Be highly analytical in thought and recommendations; although never acting like the smartest person in the room; and continually seeking out the facts; able to express a point of view without it being driven by your ego
  • Demonstrate business acumen and practice sound financial decisions by ensuring the actions and plans put into place support the achievement of operational goals and budgets
As an Equal Opportunity Employer, Aparium Hospitality Services celebrates diversity and is committed to creating an equitable and inclusive environment and a sense of belonging for all employees. We do not discriminate and believe every individual should be proud of who they are, where they come from, and take pride in who we serve. Aparium is an E-Verify employer.
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