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Lead Property Accounting Specialist

2 months ago


Kennedy Space Center, United States ZRS Management Full time
Job Overview:

The Lead Property Accounting Specialist plays a vital role within the Property Accounting division at ZRS Management, LLC. Reporting to a Property Accounting Manager or Controller, this position is accountable for comprehensive accounting functions for a designated portfolio of multifamily properties. The selected candidate will ensure the preparation of precise and timely financial reports, meeting the expectations of our clients within established reporting timelines.

Key Responsibilities:

The primary duties of the Lead Property Accounting Specialist include, but are not limited to:
  • Preparation of monthly financial reports for various properties.
  • Reviewing financial statements to provide insights on the properties in their portfolio.
  • Ensuring the accuracy and punctuality of financial reports required by ZRS and our external clients.
  • Managing cash flow and anticipating future cash shortages for each assigned property, including monitoring daily cash balances and maintaining a cash transaction log.
  • Conducting monthly bank reconciliations and addressing outstanding items.
  • Assisting in the review of bank reconciliations prepared by Property Accountants as necessary.
  • Overseeing invoice payments and ensuring adherence to the accounts payable schedule for each property.
  • Monitoring critical payments such as real estate taxes, insurance, and debt service for all assigned properties.
  • Calculating and processing necessary cash distributions to property owners.
  • Setting up electronic fund transfers within various banking platforms.
  • Collaborating with on-site teams and other members of the Property Management structure to facilitate pre-close and close activities, addressing financial statement inquiries, and providing support to ensure the completion of accounting processes for timely client delivery.
  • Preparing for Accounting Month End (AME) by reviewing site reports against general ledger reports and approving month-end date advancements when required.
  • Preparing financial statements/reporting packages in a timely manner by recording all necessary journal entries throughout the month.
  • Calculating and reviewing asset and management fees for accuracy.
  • Reconciling and understanding all balance sheet accounts and preparing supplementary reports as needed.
  • Conducting monthly general ledger closures.
  • Responding to inquiries promptly.
  • Monitoring debt levels and ensuring compliance with debt covenants.
  • Reviewing lender escrows (taxes/insurance) and replacement reserve escrows to ensure sufficient funds are available for future use, along with monthly reconciliation of escrows and reserves when applicable.
  • Reviewing and posting accruals and reclassifications as necessary.
  • Assisting in the preparation of supporting documentation for year-end audit processes.
  • Helping set up properties within the accounting software and preparing opening entries for new properties and closing entries for sold properties.
  • Preparing final operating statements, fund distributions, reconciliations, and closing bank accounts for all sold properties.
  • Conducting annual follow-ups on budget statuses throughout various stages to ensure completion and timely uploads within assigned deadlines.
  • Participating in discussions to address necessary updates to the Accounting Department's policies and procedures.
  • Assisting in training associates on all aspects of the Accounting Cycle as needed.
  • Supporting special or ad hoc projects and other tasks as required.
Required Skills & Experience:
  • Strong computer skills, including proficiency in property management software.
  • Familiarity with Real Page/Yardi/MRI.
  • Proficient in Microsoft Office Suite.
  • Ability to communicate effectively in English.
  • Understanding of Generally Accepted Accounting Principles (GAAP).
  • Capability to perform cash forecasting and management.
  • Ability to analyze and review financial statements.
  • Excellent analytical, communication, and organizational skills.
  • Effective time management skills to prioritize workload and meet tight deadlines.
  • Strong customer service and interpersonal abilities.
  • Ability to work independently and autonomously.
  • Detail-oriented with strong communication skills.
  • Knowledge of business practices and principles.
  • Ability to foster cooperative working relationships and work as part of a team.
  • Capability to manage multiple projects and tasks simultaneously.
  • Ability to train others effectively.
  • Commitment to maintaining confidentiality.
Qualifications:
  • Minimum of 3 years of accounting experience, preferably in residential property accounting.
  • Bachelor's degree in Accounting or Finance is required.
Working Environment:

The Lead Property Accounting Specialist operates in an office setting, requiring the ability to sit for extended periods. The role involves physical activities such as pushing, pulling, stooping, kneeling, reaching, grasping, talking, hearing, climbing, and lifting objects up to 5 pounds. The individual must be capable of using office equipment, including computers, phones, faxes, and scanners. Regular commuting to and from work during standard business hours is expected.

ZRS Management is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.