Senior Accountant - Chicago, United States - Peak Properties

Description

Job Description

Job Description


POSITION:
Senior Accountant

POSITION SUMMARY:

• The Senior Accountant will be a "player/coach", leading and managing an accounting staff and the virtual accounting team for the month end property accounting and corporate accounting for the Mid-Rise and High-Rise business sector. The Senior Accountant shall be responsible for overseeing the timely delivery, completeness and quality assurance of the monthly financial statement closing and reporting process to ownership, the accounts payable process, treasury management, budgeting, cash flows, accounts receivable and various other functions to achieve greater efficiencies in operations and help achieve the firm's objectives.

EXPECTATION FOR ALL EMPLOYEES:

• Supports the organization's mission and values by exhibiting the following behaviors: excellence

and competence, collaboration, innovation, commitment, accountability, and ownership.

• To thrive in this role, you should have a passion to learn and grow and be able to work well and inspire other team members.

ESSENTIAL DUTIES & RESPONSIBILITIES:
Leadership

• Ensure seamless interaction and outstanding communication with the firm's management team.
• Serve as a leader in the management & development accounting sector of the company, providing support and process improvement, where applicable.

Month End Reporting, Treasury Management & Compliance

• Manage and oversee the timely delivery, completeness and quality assurance of the monthly financial statement closing and reporting process to ownership including, but not limited to, the following;
• Maintain, review and revise month-end workpapers.
• Maintain, review, analyze and reconciliation of balance sheet and income statement general ledger accounts.
• Prepare/Review end of month journal entries for all material financial statement line items.
• Oversee and manage the bank reconciliation(s).
• Prepare and maintain fixed asset and depreciation schedules; reconcile same to general ledger.
• Prepare/Review accrual/re-class worksheet for inclusion in the general ledger.
• Prepare/Review capital expenditure report and roll forward schedule.
• Collaborate with various management team members to prepare monthly variance analysis. (actual v. budget)
• Prepare and maintain a fixed asset schedule accounting for additions and dispositions, calculate and record depreciation and prepare roll forward schedules.
• Prepare/Review all billing for the firm.
• Prepare/Review roll-forward equity schedules for ownership.
• Prepares preview statements and distributes to and/or Virtual Accounting team to ensure the following month's recurring charges and past due charges are accurate
• Monitor compliance of all ownership, debt and other agreements.

o Review agreements to determine appropriate compliance requirements, including but not
limited to, reporting, covenants and due dates.
o Prepare investor and/or lender reporting deliverables.
o Prepare and analyze periodic excess net cash flow distribution calculations.
o Reconcile capital activity to Statement of Members' Capital.

• Oversee/Review cash management and treasury activities, including the initiation of all electronic transfers and AP batches prior to disbursement to vendors and ownership.
• Prepare journal entries related to significant transactions such as acquisitions, dispositions, and financings.
• Prepare data to support the annual financial statements and collaborate with third party accounting firms to provide external audit and income tax support.
• Provide support for all accounting questions and reviews
• Review expense ledgers and assists in recovery reconciliations
• Supervises accounting information and aids internal and external stakeholders with data review
• Participates in various acquisitions processes within required timeframe and ensures compliance to all internal controls and company policies
• Interfaces with building management and owner representatives on financial and operational issues
• Coordinates with property management team members to ensure financial compliance with all procedures
• Researches and assists with technical accounting issues as necessary
• Work and train the virtual accounting team the processes and ensure closing expectations are met on a timely and accurate basis.

Budgeting

• Assist in the preparation of the Mid-Rise / High-Rise Corporate Budget
• Collaborate with the property management team and assist in the drafting of the property budgets where needed.
• Develop, manage and oversee all corporate costs and allocations thereof for corporate expenses, contracts and employees.

Accounts Payable

• Work with the accounting team (local and virtual) to ensure the following
• Ensure that all new vendors after obtaining the new vendor requirements necessary. [new vendor setup form and W-9's]
• Update each vendor profile, which shall include default GL code(s) to mitigate human error, as well as, create efficiencies in the review and approval processes of vendor invoices.
• Maintain and manage W-9's for every vendor.
• Review every vendor invoice and ensure it is addressed to the correct entity, address and confirm that the vendor invoice is being forwarded to the proper location. Resolve any inconsistency with the vendor.
• Manage the Accounts Payable workflow for efficiency.
• Identify all AP approval issues to ensure that the approval process is being submitted and approved timely.
• Review and approve all vendor invoices.

The review shall consist of the following:
(i) Vendor Name, (ii) Mailing address, (iii) Invoice number, (iv) Invoice date, (v) Amount of Invoice, (vi) GL Coding is proper and reconciles to the Vendor Contract Summary Spreadsheet, (v) Confirm mathematical accuracy of the invoice, where necessary, (vi) Ensure that the current amount due is the amount that has been approved, (vii) Verify that any past due balances have been paid, (viii) Ensure that the remit address is the same as the invoice and (ix) Confirm that a statement, collection or past due notice was not submitted for approval. (No payments shall be made from a statement, collection notice and/or past due notices)

• Research any vendor issues as they arise.
• Distribute checks to the vendors for each check run.
• Review all bank accounts online daily to ensure there is no unusual activity. Record any bank fees and deposits identified.
• Maintain records and ensure proper handling and filing of all accounts payable and deposit files are maintained. (e.g., vendor files, deposit files, W-9's, 1099's/1096's, year-end retention, and other pertinent office-related documents)
• Oversee the corporate credit card coding and submittal process. Ensure that all cardholders submit their receipt timely, so the corporate credit expenses are coded properly. Pay the corporate credit card timely.
• Make bank deposits immediately to minimize any AR.

General

• Ability to take on special projects while continuing to perform main accounting review and management responsibilities.
• Proactively research technical accounting and reporting matters and stay abreast of pending changes in relevant technical guidance .
• Oversee and manage the processing and distribution of 1099's and 1096's.
• Maintain scheduled office hours, condition of office and that all responsibilities are handled professionally.
• Demonstrate leadership in attitude, communication skills, and appearance.
• Utilize your entrepreneurial skills to network and build strong relationships, both internally and externally, with clients and the community.
• Support the growth and development of team members, helping colleagues meet their professional goals.
• Assist in ad-hoc projects and activities where necessary and/or appropriate to foster growth and best practices of the business.

TRAINING REQUIREMENTS

• Ongoing professional development.

QUALIFICATIONS/SKILLS

& KNOWLEDGE REQUIREMENT:

• 5+ years of real estate accounting experience or public accounting.
• Bachelor's Degree in Accounting; CPA a plus.
• Experienced with Yardi software
• Proficient with MS Office software and QuickBooks or similar type accounting software program.
• A sound knowledge about various aspects of financial and real estate assets
• Ability to communicate information succinctly and anticipate and resolve issues/problems on a proactive basis.
• Aptitude to be detail-oriented, yet flexible, in a dynamic environment with a focus on meeting deadlines.
• Possess excellent collaborative skills to work in partnership with colleagues and across various departments.
• Strong work ethic with the highest degree of honesty, integrity, and discretion.
• Positive attitude.
• Ability to multitask, prioritize and manage time effectively.
• Ability to take initiative and work independently.
• Excellent problem solver; demonstrates ability to use creative alternatives.
• Works effectively with coworkers, clients, customers, and others by sharing ideas in a constructive and positive manner; addresses problems and issues constructively to find mutually acceptable and practical business solutions.
• Protect the confidential nature of the work as appropriate.

Company Description Peak Properties cares about their employees and the work that they do. Our company values work-life balance, teamwork and dedicates ourselves to working hard.

Company Description

Peak Properties cares about their employees and the work that they do. Our company values work-life balance, teamwork and dedicates ourselves to working hard.
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