Senior Real Estate Accountant bei Black Cultural Zone CDC

Description

Position Summary:

The Senior Real Estate Accountant plays a key role within the Black Cultural Zone CDC (BCZ CDC), working closely with the Controller and supported by the CFO. This role is essential for ensuring the accuracy and integrity of the financial records for the organization's real estate portfolio, which includes affordable housing and commercial real estate acquisition, development, rehabilitation, and management projects. It involves performing detailed financial reporting, transactional accounting, budgeting support, financial analysis, and ensuring compliance with all relevant tax and audit requirements.

Designated Group: Initiative Areas and Programs

Teams:

• Shared Services
• Finance and Accounting
• NCD (Neighborhood & Commercial Development)

Groups:

• Real Estate Development
• Property Operations and Asset Management
• Portfolio Strategy and Performance

Position Duties and Responsibilities:

Financial Reporting:

• Assist in the preparation of monthly, quarterly, and annual financial statements for the real estate portfolio.
• Ensure the accuracy and timeliness of all transactional accounting leading to financial reports related to real estate operations.
• Support the preparation of financial reports for funders, the board of directors, and other stakeholders.

Accounting:

• Manage the general ledger and sub-ledgers for real estate assets.
• Reconcile bank accounts and credit card statements related to real estate operations.
• Manage accounts payable and accounts receivable for real estate-related expenses and income.
• Process all real estate-related invoices for timely payment.
• Prepare and post journal entries to record real estate transactions, including rent revenue, property taxes, insurance, and maintenance expenses.

Budgeting and Forecasting:

• Support the development and management of annual budgets for the real estate portfolio.
• Assist in preparing and monitoring cash flow projections for real estate operations.
• Conduct variance analysis and provide recommendations for budget adjustments.
• Assist with the creation of project proformas.

Financial Analysis:

• Analyze financial data to identify trends and opportunities within the real estate portfolio.
• Support the preparation of financial projections and feasibility studies for new real estate development projects.
• Assist with developing grant and financing proposals and financial reports for funders related to real estate initiatives.

Internal Controls:

• Adhere to and help maintain strong internal controls to ensure the accuracy and integrity of the organization's real estate financial records.
• Ensure compliance with all applicable laws and regulations, including GAAP and applicable nonprofit accounting standards, as well as specific requirements for affordable housing and commercial real estate.

External Relationships Support:

• Support the management of real estate banking relationships and reporting requirements.
• Prepare expense and financial reporting documents for JV Partnerships.
• Assist in identifying risks that could impact real estate projects.

Audit and Tax Compliance:

• Assist with the preparation and filing of all required tax returns for real estate entities.
• Apply for annual property tax exemptions for all eligible real estate assets.
• Coordinate with external auditors to ensure timely and efficient audits.
• Maintain accurate records and documentation to support tax filings and audits.
• Lead the preparation for and support of annual audits for real estate entities, and support the annual organizational audit.

Other Duties as Assigned:

• Assist with special projects as needed.
• Participate in meetings and training as required.

Team Responsibilities:

• Attend in-person and on-site meetings at least 2 days per month and up to 4 days per month, and abide by the policies and procedures related to meeting attendance.
• Complete self-reviews, 360 reviews, and team lead reviews, if applicable, as a part of the semi-annual performance review process.
• Participate in a minimum of 5 hours of internal or external professional development opportunities each month on the designated professional development day and document the professional development opportunities you participated in.
• Complete bi-weekly checks, monthly initiative success reports, folder management, and initiative, project, or operational area documentation each month on designated administrative days.
• Meet with lead/steward monthly to discuss performance, using the C.R.E.A.T.E values and role description as guides for the discussion.

Qualifications

Required Knowledge, Skills & Abilities:

• Strong understanding of Generally Accepted Accounting Principles (GAAP) and nonprofit accounting standards.
• Excellent analytical and problem-solving skills.
• Strong attention to detail and accuracy.
• Excellent written and verbal communication skills.
• Proficiency in Microsoft Excel and other financial software (e.g., QuickBooks, Yardi).
• Ability to work independently and as part of a team.
• Strong organizational and time-management skills.
• Ability to meet deadlines and work under pressure.
• In-depth knowledge of affordable housing and commercial real estate development.
• Understanding of real estate finance, including property valuation and asset management.

Qualifications:

Required

• Bachelor's degree in Accounting, Finance, or Real Estate.
• Minimum of 3 years of experience in accounting or finance, with at least 1 year of experience in real estate.
• Proficiency in the Microsoft Office Suite.
• Exceptional communication, organizational, and problem-solving skills.
• Proven ability to thrive in a fast-paced, remote work environment.
• Adaptability to changing priorities and the ability to work independently.

Preferred

• CPA or other relevant professional certification (preferred).
• Experience with nonprofit accounting software (Sage, QuickBooks, others) is a plus.
• Experience with real estate software (e.g., NetSuite) is strongly preferred.
• Experience working with diverse communities and building strong community relationships, specifically focusing on Oakland, California.

Physical Demands:

Essential functions of the position require the employee to use a telephone, work at a standard computer terminal, and be able to follow reasonable ergonomic recommendations, sit for long periods, perform repetitive motions, stand, reach, lift and carry 20 pounds, and bend.