Senior Real Estate Accountant

3 weeks ago

Palo Alto, United States Marcus & Millichap Company Full time
Job DescriptionJob DescriptionAbout Us

About the Company: Marcus & Millichap Company (MMC) is a real estate leader and pioneer with a diverse family of companies offering Real Estate Services, Real Estate Investments, and Real Estate Developments. Each MMC company is a distinct fusion of real estate specialization and innovation powered by a culture of loyalty that permeates throughout the Marcus & Millichap organization. To learn more about the Company, please visit www.mmcrealestate.com.

Please note, we are in a great location – near Caltrain with excellent restaurants and shops within walking distance.

Position Overview

Job Description:

We’re hiring a Senior Real Estate Accountant to join our team in Palo Alto, California. Reporting directly to the Assistant Controller, the Senior Real Estate Accountant will manage the financial reporting and closing process of our multi-family subsidiary, Pacific Urban Investors (PUI). PUI invests in multi-family real estate with a successful track record and reputation under a strong management team. To succeed in this role, the Senior Real Estate Accountant should be detail-oriented and must work closely with the business process owners in PUI and peers within the MMCS accounting team in maintaining the accuracy of financial statements, budgets, and forecasts.

This is a great opportunity for those who would like to utilize and develop their existing skills. This role offers growth opportunities and provides vast experience in the corporate entity of a highly successful and dynamic real estate organization in the Bay Area. You will have a huge amount of ownership over your work and be working alongside a strong accounting management team. Please note: MMC has a fiscal year end of March 31st.

This is a full-time position working from the Palo Alto office.

Primary Duties & Responsibilities:

  • Manage monthly close of PUI and prepare the monthly reporting packages, including income statement, balance sheet, cash flow, actual / budget variance analysis, financial statement analysis, and commentary
  • Work closely with business process owners and our PUI’s property accounting group
  • Review and be familiar with LLC operating agreements and understand waterfall schedules
  • Prepare and review quarterly external financial statements and reporting for PUI, as required
  • Facilitate the implementation of the financial reporting platform (Yardi) that is currently being implemented at MMCS
  • Prepare/review the recording of transactions in the general ledger including sales, acquisitions, and refinancing
  • Perform analytical review of property-related financials for corporate reporting purposes
  • Partner with our multi-family subsidiary’s management team and provide decision-making support
  • Work with FP&A and tax departments on collaborative projects, including the development of company business plans and forecasts, as well as preparing schedules and other information to prepare tax returns for operating entities
  • When possible, document procedures and streamline processes
  • Identify internal control weaknesses and provide recommendations
  • Prepare and review schedules for the annual audit and provide audit support as needed
  • Other projects as needed

Knowledge, Skills & Abilities:

  • Consolidation, financial statements preparation and analysis, ad hoc reporting to support management decision-making
  • ERP knowledge preferred (Yardi)
  • Budgeting, forecasting, and variance analysis experience preferred
  • Advanced MS Excel skills (pivot tables, array formulas, macros, etc.) required
  • Previous interaction with internal/external auditors required
  • Positive attitude, eager to learn, and willing to take on challenges
  • Able to work independently and manage multiple projects simultaneously
  • Thorough and detail-oriented with a big-picture mindset
  • Ability to work in a team environment
  • Poised and patient to listen, teach, and lead
  • Enthusiastic and proactive

Qualifications & Education:

  • Bachelor’s degree in accounting or a similar field
  • CPA is a plus
  • 4 to 5 years of progressive accounting experience required in financial reporting/general ledger
  • Corporate accounting experience with a real estate investment firm is required, including fund-level portfolio accounting and reporting
  • Experience with and ability to understand the business dynamics and communication between business subsidiaries
  • The ideal candidate will have experience working for a multifamily investment firm
  • Big 4 accounting firm experience is also a plus

Benefits Overview:

The compensation plan for this role will be commensurate with the skills required for the position. As such, it will be comprised of a base salary and an annual performance-based incentive which is determined upon individual and portfolio performance. The Company offers a comprehensive benefits package to include:

  • Paid Time Off + Paid Holidays
  • Paid Sick Time
  • 401k + Employer Contribution
  • Medical (H.S.A./HDHP option w/ Employer Contribution)
  • Dental
  • Vision
  • Flexible Spending Accounts
  • Group Term Life/AD&D
  • Voluntary Life/AD&D
  • Long-Term Disability
  • Buy-Up Long-Term Disability
  • Employee Assistance Program
  • Other Voluntary Plans
Depending on the role, other benefits such as commissions, an educational assistance program (tuition reimbursement), a referral program, and/or car allowance may be applicable.

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