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Construction Accountant

2 months ago

Silver Spring, United States Montgomery Housing Partnership Full time

Montgomery Housing Partnership (MHP) seeks a meticulous, detail-oriented Staff Accountant to join our team. As a crucial member of our finance department, you will manage the financial aspects of construction projects, ensure accurate and timely processing of construction draws, and maintain comprehensive financial records. The ideal candidate will possess strong analytical skills, a solid understanding of construction accounting principles, and exceptional attention to detail.

Who we are: Montgomery Housing Partnership, Inc. (MHP) is an active and growing nonprofit organization founded in 1989 that develops, acquires, rehabilitates, and builds quality apartment homes to meet Montgomery Countys growing need for affordable housing. MHPs community-based projects and programs include providing affordable rents, developing educational programs for residents to develop skills that expand their opportunities and balance their lives, and implementing neighborhood revitalization efforts in troubled communities impacted by disinvestment and structural inequities.

Responsibilities:

1. Construction Draw Processing:

Manage the process of reviewing and verifying construction draw requests from contractors and subcontractors.

Analyze draw requests to ensure accuracy and compliance with project budgets, contracts, and regulatory requirements.

Coordinate with project managers, engineers, and other stakeholders to gather necessary documentation and approvals for draw processing.

Prepare and submit draw packages to lenders or funding sources by established timelines.

2. Financial Analysis and Reporting:

Conduct thorough financial analysis of construction projects, including cost tracking, budget variances, and forecasting.

Prepare comprehensive reports detailing project financial performance, draw status, and any discrepancies or issues identified.

Collaborate with the finance team to reconcile project budgets, expenditures, and accounting records.

Assist in preparing financial statements and other regulatory reporting requirements related to construction projects.

3. Documentation and Compliance:

Maintain accurate and organized documentation for construction draws, contracts, change orders, and payment approvals.

Ensure compliance with relevant accounting standards, regulations, and internal policies throughout the drawing process.

Assist in audits and reviews by providing documentation, explanations, and support.

4. Communication and Collaboration:

Communicate effectively with project stakeholders, including lenders, contractors, subcontractors, and internal teams, to resolve issues and address concerns related to construction draws.

Collaborate with project managers, finance colleagues, and other departments to streamline processes, improve efficiency, and enhance financial controls.

Provide guidance and support to project teams regarding financial matters and draw procedures.

Qualifications:

Bachelors degree in accounting, finance, or a related field is required.

Previous experience in construction accounting, project finance, or related field is strongly preferred.

Proficiency in accounting software (MRI or equivalent) and Microsoft Excel.

Strong analytical skills with the ability to interpret financial data and perform variance analysis.

Excellent organizational skills and attention to detail, with the ability to effectively manage multiple tasks and deadlines.

Knowledge of construction industry practices, terminology, and regulatory requirements.

Effective verbal and written communication skills, with the ability to interact professionally with internal and external stakeholders.

Proactive problem-solving abilities and a commitment to accuracy and integrity in financial reporting.

Job Type: Full-Time

Compensation: Salary will be based on applicable experience.

MHP offers a competitive benefits package, including healthcare benefits, flexible spending accounts, 403(b) retirement matches, and generous paid time off.

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