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Property Accounting Supervisor

2 months ago


Bethesda, Maryland, United States Federal Realty Investment Trust Full time

Company Overview
Federal Realty Investment Trust is a distinguished leader in the ownership, management, development, and redevelopment of premium retail real estate across the nation's prime markets. As an innovative and dynamic entity in the real estate sector, we possess a top-tier portfolio of community shopping centers and mixed-use properties. Our esteemed investment and management team excels in executing both small and large-scale value-add investments, making a career with us rewarding and fulfilling. Although we rank among the largest publicly traded real estate investment trusts in the country based on asset value, we maintain a small company culture that empowers team members to engage in various aspects of our business strategy.

Role Overview
The Accounting Manager plays a pivotal role within a team dedicated to the financial oversight of properties owned by Federal Realty. Reporting directly to the Senior Director of Accounting, this position is responsible for leading a team focused on property accounting for a designated portfolio.

Key Responsibilities
  • Lead a team of two Senior Accountants tasked with property accounting for a specific portfolio, providing essential accounting support to related property operations and asset management teams.
  • Oversee the month-end closing process for a portfolio of properties, ensuring accuracy in the review and posting of general ledger journal entries, month-end accruals, and reclassifications.
  • Manage various closing processes, including monthly expense and income accruals, ensuring compliance and accuracy in real estate tax recovery, Common Area Maintenance (CAM) recovery, tenant recovery, and parking.
  • Prepare and analyze variance reports on property financial statements, collaborating with the property operations group to ensure accurate financial reporting.
  • Facilitate the onboarding of new property acquisitions, ensuring a smooth transition of tasks and the precision of related property accounting and reporting.
  • Supervise quarterly general ledger account reconciliations to guarantee timely and accurate completion.
  • Manage sales and use tax filings, ensuring compliance with state and local regulations, including coordination of sales tax audits.
  • Ensure the timely and accurate execution of quarterly partner distributions.
  • Conduct various analyses and prepare schedules to uphold the accuracy of monthly and quarterly financial data.
  • Act as the liaison with auditors for the completion of financial statement audits and internal control assessments, including Sarbanes-Oxley compliance.
  • Oversee multiple projects and perform additional duties as assigned.
Qualifications
  • Bachelor's degree in Accounting or Finance is required.
  • CPA certification is mandatory.
  • A minimum of 6 years of experience in commercial property accounting, with knowledge of retail properties being advantageous.
  • 2-3 years of management experience is essential.
  • Exceptional attention to detail and organizational skills.
  • Advanced proficiency in Microsoft Excel.
  • Strong analytical and problem-solving capabilities.
  • Proven ability to manage multiple projects and prioritize effectively without sacrificing accuracy or quality.
  • Excellent verbal and written communication skills.
  • Self-motivated, detail-oriented team player with a demonstrated ability to thrive in a fast-paced, deadline-driven environment.
  • Strong relationship-building skills, proactive, results-oriented, and resourceful.
  • Proven track record of delivering excellent customer service at all organizational levels.