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Accounting Senior Manager
2 months ago
The Senior Manager of Accounting is tasked with overseeing the property accounting operations of the organization. This role involves the establishment and maintenance of accounting principles, practices, and procedures that align with industry standards. The Senior Manager will review financial statements and supporting documentation, presenting insights and recommendations to the accounting leadership team. Responsibilities also include the examination of tax filings and compliance documentation, along with the supervision of audit and reporting obligations.
Key Responsibilities
- Manage a diverse portfolio of properties, directly supervising a team of Managers, Senior Property Accountants, and Property Accountants. Effective team management and mentorship are essential to this role.
- Collaborate closely with Investment Managers to assess asset performance, prepare investor and lender reports, and provide data-driven insights for daily operational decisions.
- Ensure compliance with GAAP, tax basis, and cash basis accounting during monthly, quarterly, and year-end closings.
- Maintain accounting systems and process controls in accordance with company standards, recommending enhancements as necessary.
- Conduct thorough reviews and analyses of annual operating expenses.
- Oversee accurate and timely tenant billing processes, including CAM, RET, and general billbacks.
- Evaluate budgets prepared by accounting and cross-functional teams.
- Coordinate with independent CPA firms to produce audited financial statements and provide necessary support for year-end audits.
- Monitor compliance with loan agreements, including debt covenants and service coverage tests.
- Manage cash flow for each property, including distributions, capital calls, and investment of surplus cash.
- Participate in departmental efficiency projects, leading initiatives where expertise can drive improvements.
- Review compliance with REIT regulations and related planning.
As a Senior Manager, you will be a crucial support to the Portfolio Controllers, managing both your team and the assets effectively.
Growth Potential
In the initial year, Senior Managers will gain in-depth knowledge of the company, department, and property portfolio. Mastery of these areas will position the Senior Manager as a key contributor to projects and efficiency initiatives, driving the Accounting Department towards optimal performance.
Qualifications
- Minimum of 8 years of accounting experience, ideally within commercial real estate.
- Public accounting experience preferred, with a CPA designation.
- Bachelor's degree in accounting required.
- Demonstrated management experience, particularly in overseeing accounting staff.
- Strong analytical and quantitative skills.
- Excellent communication and relationship management abilities.
- Proficient in GAAP and advanced Excel, with knowledge of accounting software.
- Familiarity with programs such as Anaplan, MRI, and AvidXchange is advantageous.
WS Development is a leading mixed-use developer based in Massachusetts, dedicated to creating vibrant spaces that enhance community engagement. With a focus on innovation and excellence, WS Development operates over 100 properties, encompassing a diverse range of urban and lifestyle environments. The firm prides itself on its commitment to inclusivity and values the contributions of all employees, fostering a culture of respect and collaboration.
