Lead Property Accountant

2 weeks ago


Chestnut Hill, United States WS Development Full time
Position Overview

At WS Development, we foster 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 firm, we focus on developing, constructing, owning, and managing exceptional spaces that attract people.

We are expanding our Accounting department and are in search of a Senior Property Accountant. This role demands a high level of collaboration, both within a team and across various functions. The Senior Property Accountant will engage closely with Lease Compliance, Construction, Development, Property Management, Finance, Leasing, Legal, and Tenant Coordination. Building strong relationships, along with a robust work ethic, will be essential for success.

Key Responsibilities

The Senior Property Accountant will manage a portfolio of properties, including a more complex staffed property that will undergo review by a Manager, while also handling less complicated properties on a monthly or quarterly basis without Manager oversight. Responsibilities include the monthly preparation of financial statements, such as balance sheets, income statements, variance analyses, property/tenant statistics, and general ledger reconciliations.

This role will also involve working on upper and lower tier entities within a structure and conducting initial REIT testing, when applicable. Additionally, the Senior Property Accountant will prepare cash distribution worksheets to assess the necessity of distributions to partners. This position entails preparing annual property budgets and addressing inquiries related to year-end processes with external auditors. The Property Accountant will also interact with tenants and internal clients, addressing questions and concerns regarding the assigned properties in the portfolio. Proficiency in maintaining both GAAP and Tax reporting for complex properties, understanding tenant lease components, and effectively managing cash for intricate properties is required.

The Senior Property Accountant will also prepare Common Area Maintenance and Real Estate Tax tenant billings on a quarterly and/or monthly basis. Responsibilities extend to Percentage Rent billings for properties and preparing tenant water billbacks on a quarterly and/or semi-annual basis for assigned properties.

This position will also involve reviewing the work of junior Property Accountants and providing training on properties that are typically smaller and less complex. The Senior Property Accountant will offer feedback on the performance of Associates under their supervision and may participate in annual reviews.

Success Factors

We seek an individual who thrives in a team environment and can collaborate effectively across all organizational levels. The ideal candidate will possess passion, a strong work ethic, and a desire to make a positive impact within 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 perspective.

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
  • Strong proficiency in Excel
  • The ideal candidate will demonstrate the ability to quickly learn and master various software applications
About WS Development

WS Development, based in Massachusetts, is a mixed-use developer with a singular mission: to create spaces that people want to experience. Our approach values art, science, innovation, and, above all, 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 companies that conceptualizes, owns, operates, and leases over 100 properties, ranging from innovative urban spaces to lifestyle and community centers. With over 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 country.

At WS, we bring together great ideas and talented individuals to design, build, and operate some of the most beloved real estate projects in the nation. We exist 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, life experiences, or any other reason.

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