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Lead Property Financial Analyst

2 months ago

Chestnut Hill, United States WS Development Full time
Position Overview

At WS Development, we are committed to fostering a collaborative and entrepreneurial atmosphere where our team members are empowered to influence the decision-making, planning, processes, and culture of our organization. As a vertically integrated company, we focus on developing, constructing, owning, and managing exceptional spaces that attract people.

Our Accounting division is expanding, and we are seeking a Senior Real Estate Accountant. This position demands a high level of collaboration both within the team and across various departments. The Senior Real Estate Accountant will engage closely with Lease Compliance, Construction, Development, Property Management, Finance, Leasing, Legal, and Tenant Coordination. Building strong relationships, along with a dedicated work ethic, will be essential for success.

Key Responsibilities

The Senior Real Estate Accountant will oversee a portfolio of properties, including a more complex staffed property that will be reviewed by a Manager, while also managing less complicated properties on a monthly or quarterly basis without a Manager's oversight. Responsibilities include the monthly preparation of financial reports such as balance sheets, income statements, variance analyses, property/tenant statistics, and general ledger reconciliations.

This role will also involve working on both upper and lower tier entities within a structure and conducting initial REIT testing when applicable. Additionally, the Senior Real Estate Accountant will prepare cash distribution worksheets to assess the necessity of distributions to partners. Annual budget preparation for properties and addressing inquiries related to year-end work with external auditors will also be part of the responsibilities. The Property Accountant will interact with tenants and internal clients, addressing questions and concerns regarding the assigned properties in the portfolio. The ability to maintain both GAAP and Tax reporting for complex properties, understand all components of tenant leases, and effectively manage cash for intricate properties is crucial.

The Senior Real Estate Accountant will also be tasked with preparing Common Area Maintenance and Real Estate Tax tenant billings on a quarterly and/or monthly basis. Furthermore, they will handle Percentage Rent billings for properties and prepare tenant water billbacks on a quarterly and/or semi-annual basis for assigned properties.

This position includes reviewing the work of junior Property Accountants and providing training on properties that are typically smaller and less complex. The Senior Real Estate Accountant will offer feedback on the performance of Associates they supervise and may participate in annual reviews.

Success Factors

We are looking for an individual who thrives in a team environment and can collaborate effectively across all levels of the organization. The ideal candidate will possess passion, a strong work ethic, and a desire to positively impact a growing organization. To excel in this role, the individual must be detail-oriented, highly organized, and able to appreciate the urgency of critical deadlines while also grasping the broader context.

Qualifications
  • Bachelor's degree in accounting
  • 3 to 5+ years of experience in general ledger and financial statement preparation in a comparable setting
  • Familiarity with MRI, Avidxchange, and Anaplan is highly desirable
  • Proficient in Excel
  • The ideal candidate will quickly learn and master various software applications
About WS Development

WS Development, based in Massachusetts, is a mixed-use developer with a clear mission: to create spaces that people want to inhabit. Our approach values art, science, innovation, and, most importantly, people. We strive to engage each community we serve with exceptional experiences, designed with our customers, tenants, and partners in mind. Established in 1990, WS is one of the few vertically-integrated real estate firms that conceptualizes, owns, operates, and leases over 100 properties, ranging from innovative urban spaces to lifestyle and community centers. With more than 22 million square feet of existing space and an additional nine million square feet under development, we are among the largest privately-owned development firms in the nation.

At WS, we believe in the power of great ideas and great people coming together to design, build, and operate some of the most beloved real estate projects in the country. We thrive at the intersection of entrepreneurship and establishment, supported by decades of infrastructure while nurturing a culture of innovative excellence.

We are committed to ensuring that every WS employee feels welcomed and valued, regardless of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, disability, age, veteran status, marital status, parental status, cultural background, and life experiences, or for any other reason.