Senior Accountant II - Property & Development Accounting
Company: Satellite Affordable Housing Associates
Posted on: May 21, 2023
Senior Accountant II - Property & Real Estate Development
About SAHA: Satellite Affordable Housing Associates (SAHA) is a leader in the affordable housing industry and is driven by the fundamental belief that every person deserves a home. We take pride in providing quality affordable homes that empower people and strength neighborhoods. Our philosophy of embracing sustainability, initiative, financial responsibility and diversity makes us one of the preeminent affordable housing development/management providers and employers in the Bay Area.
Position Summary: This position is responsible for multifamily property accounting and will also provide flexible support for SAHA's development and accounts payable teams as assigned. The position will work closely with the Controller and Accounting Manager to support SAHA's Property Accounting and Development Accounting teams. This position is responsible for all property accounting activity for an initially limited portfolio of five to six assigned properties, including the preparation of financial statements; participation in the preparation of property budgets and annual audits. Development accounting responsibilities include payables and reconciliation of the development general ledger accounts.
Desired Candidate Attributes:
You possess strong account analysis skills and enjoy resolving escalated or unclear accounting issues
You're flexible by nature and thrive with a diverse range of property accounting assignments and challenges
You are a team player who gets satisfaction by helping other accountants and departments
You are highly organized, follow checklists rigorously, and can prioritize amongst multiple assignments
You know how to communicate effectively with accounting and non-financial personnel
Location: This position will work at SAHA's Main Office in Berkeley, CA. This position has a hybrid work schedule and can work remotely for two days during the work week.
Compensation: The pay range for this position begins at $85,000 annually. Starting pay rates depend on candidate skill, experience, and needs/challenges of the specific position.
Benefits/Perks: We are proud to offer our employees a comprehensive benefits package and work/life balance. Please review the attached Benefits Overview for more details.
Primary Duties & Responsibilities include but are not limited to the following:
Financial Statements: Fully responsible for recording all transactions and month end closing entries for assigned portfolio of properties; Reconciles all bank accounts for the assigned portfolio, tenant receivables, subsidy receivables, accounts payable, and tenant security deposit sub-ledgers to the general ledger and reviews all remaining balance sheet accounts; Monitors submission and reconciliation of HAP vouchers, calculates and records the gross potential rent and vacancy and posts HAP receipts; Prepares monthly financial statements and reporting packages in accordance with GAAP and applicable regulations; Analyzes, investigates and explains budget variances, seeks input from Property Managers and Property Supervisors as necessary; Addresses complex accounting transactions by using analysis skills to devise and present recommended accounting treatment to the Controller; Provides required reporting to external investors by established deadlines and informational reporting to internal management as requested.
External Auditors: Provides auditors with all required documents and work papers and assures audit questions are answered and audit issues are fully resolved; Analyzes complex accounting questions and audit findings and coordinates with the controller and/or property management and responds as necessary; Submits audits to external organizations as required by property partnership, loan and subsidy documents.
Budgets: Participates on the budget team for assigned portfolio of properties and assists in the preparation of the timeline for the budget process. Provides budget worksheets for operations and capital needs to property management for budget preparation. Ensures draft budgets are mathematically accurate. Ensures approved budgets are entered into the accounting system and that budgets are updated based on final rent increases.
Move-Out Dispositions: Prepares requests for disposition of security deposits for residents who have moved out. Ensures accounts payable are properly entered into the accounting system and checks printed as necessary. Ensures the completed move-out packet is forwarded to property management staff within the required time frame and copies are filed properly.
Cash Receipts: Prepares non-resident cash receipts for deposit (e.g. laundry income and insurance refunds) and ensures cash receipts are recorded in the accounting system and filed.
Residual Receipts: Prepares annual residual receipts deposits and provides HUD with deposit documentation. Ensures that monthly deposits are at the required level.
Replacement Reserves: Prepares HUD Form 9250 and Tax-Credit replacement reserve requests in conjunction with the property supervisor. Tracks replacement reserve requests and releases. Ensures that monthly reserve deposits are at the required level.
External Agency Filings: Assists in ensuring compliance with municipal, state and federal regulations, including tax compliance. This includes but is not limited to preparing business property tax returns (571-L) business license applications, and assisting A/P staff with the preparation of year-end 1099 forms if necessary.
Fixed Assets: Maintains FA and depreciation schedules. Capitalizes expenses to FA and records depreciation monthly.
Cross Training: Cross trains with other positions in the accounting department such as development and accounts payable, and provides back up to accounting staff members as needed.
Filing: Files electronically own journal entries with adequate supports, month-end close packets, and bank reconciliations. Assists with annual setup of new files and move of prior year documents off-site.
Development Related Accounts Payable: Assists with the accounts payable process for development projects as needed. Determines payment requests have proper authorization, coding, documentation and are mathematically accurate. Ensures accounts payable are properly entered into the accounting system and that checks are printed, signed, and mailed;
Special Projects: coordinates with supervisor to take on special projects which are complex and require a high level of analysis, as assigned by supervisor.
Other: Additional duties as assigned by management.
Qualifications: Skills, Knowledge and Abilities
To perform this job successfully, an individual must be able to perform each duty satisfactorily. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience:
Bachelor's degree in business, finance or accounting.
Minimum four (4) years of experience.
Technical knowledge of all accounting functional areas and GAAP.
Knowledge of HUD and LIHTC regulatory requirements strongly desired.
Knowledge of Yardi software a plus
Must be experienced and highly skilled in Excel and proficient in MS Word.
Certificates, Licenses & Registrations Required:
Abilities and Attributes:
Strong analytical ability to assist the team in resolving escalated accounting items.
Excellent use of checklists and ability to follow through to resolution on escalated items.
Ability to autonomously handle daily responsibilities and projects with minimal direction.
Ability to visualize, gather information, articulate, analyze, solve complex problems, and make decisions.
Ability to assimilate a variety of information from diverse individuals, and make decisions for which a precedent may not exist.
Desire to improve existing processes and systems.
Excellent written, oral and presentation skills, writing sample required.
Must be accurate, organized, and highly detail-oriented with the ability to multi-task and
follow-through on all projects.
Ability to work collaboratively with different levels of staff and management.
Ability to work under pressure and successfully meet deadlines.
Excellent decision-making, interpersonal and time management skills.
Ability to work harmoniously in a multi-cultural team.
Ability to quickly understand and follow policies and procedures that pertain to the property, development and accounts payable accounting groups.
Must be skilled in all math applications with ability to analyze and review financial data.
Must be highly accurate in mathematical computations.
Position requires simple grasping and fine manipulation, sitting at a desk and using a computer for extended periods of time, moderate use of telephone, standing, walking, bending and reaching.
Requires occasional lifting or moving of objects up to 15 pounds. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The work environment is a normal office environment, with business casual attire. This position is mainly conducted in an open office environment where noise and temperature variations are minimal.
This job description is not inclusive of all responsibilities, skills, requirements, efforts or working conditions associated with this position. While this job description is intended to be an accurate reflection of the current position . click apply for full job details
Senior Accountant II - Property & Real Estate Development
Keywords: Satellite Affordable Housing Associates, Berkeley , Senior Accountant II - Property & Development Accounting, Accounting, Auditing , Berkeley, California
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