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Construction Finance Manager
2 months ago
We are looking for a skilled Construction Accountant to become part of a dynamic Real Estate and Construction firm. This role is a contract position with the possibility of transitioning to a permanent role. The Construction Accountant will oversee all facets of the accounting processes related to construction projects from inception to completion. This includes setting up projects, managing bank draws, processing subcontractor payments, and finalizing project accounts. The position also entails generating monthly reports, engaging in construction loan closings, converting loans to permanent status, and ensuring cost certifications are completed accurately. Compensation: $85,000-$105,000 based on experience.
The ideal candidate will possess a solid background in construction accounting, proficiency in managing project-related financial functions, and extensive experience in job costing.
Key Responsibilities:
Loan Draw Management:
- Prepare and submit monthly loan draw requests with precision.
- Secure approvals for draw requests, liaise with lenders, and ensure timely funding.
- Manage monthly billing for subcontractors and guarantee prompt payments.
- Communicate effectively with subcontractors and vendors to address any issues.
- Review lien releases and gather certified payroll for accuracy and completeness.
- Compile financial statements, reconcile bank and balance sheet accounts, and prepare job cost reports for various entities.
- Year-End Tax Documentation:
- Develop year-end tax return workpapers for external CPA firms.
- Monitor balances in bank accounts and manage cash available for construction loan draws.
- Prepare and document journal entries for all relevant activities.
- Finalize construction projects upon completion.
- Gather necessary information for final cost certification and submission of the Placed-in-Service Package.
- Collect data for capital contributions requests and loan conversions.
- Oversee bond arbitrage reporting processes.
- Prepare and maintain construction accounting 1099 forms.
- A minimum of 2 years of experience in a similar accounting role.
- Bachelor's degree in accounting or equivalent work experience.
- Experience in accounting for general contracting firms is preferred.
- Familiarity with lien laws and prevailing wage regulations is advantageous.
- Strong customer service skills with a professional demeanor.
- Exceptional organizational abilities.
- Capability to process diverse transactions swiftly and accurately.
- High attention to detail and excellent follow-through skills.
Karleen Rocheleau