Development Accountant

5 days ago

Philadelphia, Pennsylvania, United States Pennrose Management Full time
Job Title: Development Accountant

At Pennrose Management, we are seeking a highly skilled Development Accountant to join our team. As a key member of our finance department, you will play a critical role in managing the day-to-day accounting and administrative operations for our portfolio of multi-family, real estate development projects.

Key Responsibilities:
  • Work closely with project developers and other internal customers to provide timely and thorough information, insight, and analysis concerning their respective development projects and related budgets.
  • Prepare and enter all project job cost and journal entries necessary to maintain budget cost categories and ledger accounts to accurately reflect financial activity and balances.
  • Prepare monthly and periodic project funding requisition packages for submission to various lenders and investors.
  • Manage cash flow and oversee each development project and related entity, including payments to contractors and professionals, processing of wires, transfers, and collection of fees, loan disbursements, and equity contributions.
  • Oversee accounting operations and maintain the general ledger for entities associated with development projects.
  • Respond to inquiries from third parties, including partners, lenders, investors, vendors, housing authorities, and other governmental agencies.
  • Prepare and provide periodic and year-end workpapers and documentation as necessary for external auditors to complete cost certifications, tax returns, and audit preparation.
  • Lead, mentor, coach, and train colleagues, listening to their concerns and finding solutions and resources for them.
  • Present financial information, issues, and reports to management as needed.
Performance Metrics:
  • Timely and accurate submission of project funding requisition packages for projects.
  • Maintain accuracy of job cost and general ledger accounts and reports.
  • Prompt and accurate response and receive positive feedback from internal and external customers.
  • Timely and accurate completion of auditor-requested workpapers.
Requirements:
  • Bachelor's degree in accounting, finance, or a similar discipline.
  • Three or more years of experience in real estate and/or construction project cost accounting, preferably.
  • Extensive experience working with a major general ledger and job cost accounting software system.
  • Excellent MS Excel skills.
  • Ability to be flexible, work in a fast-paced environment, and meet deadlines.
  • Valid driver's license, insured vehicle, and ability to travel.

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