Corporate/Development Accounting Manager at Phipps Houses / Phipps Affordable Management, LLC

Phipps Houses is one of the nation’s oldest and largest not-for-profit developer/owners of affordable housing. It is a multi-faceted real estate organization, involved in the development, finance, construction and asset management of new and rehabilitated multi-family housing for low to middle income New Yorkers. Through its subsidiaries, Phipps Houses Services, Inc., and Phipps Affordable Management, LLC it conducts residential and some commercial property management, and its tax-exempt affiliate, Phipps Neighborhoods, provides human services to its development communities.

Salary Range:  $125,000 to $140,000 and is based on training, education and experience.  Position is eligible for annual year end discretionary bonus

Primary Function:

·       Supervise staff of 1 – 3 accountants

·       Supervises and monitors individual staff performance to ensure:

o   Timely and accurate completion of assigned projects including monthly draws

o   Accurate and comprehensive financial reports and financial analysis

·       Responsible for ensuring accurate and timely project and development monthly reporting, internal and external development loan draws, accounts payable processing, and other management reports. This includes, but is not limited to:

o   Work with the Vice Presidents of Development on project tracking, assignment of project cost code categories

o   Work with lenders and public agencies to understand requirements for draw processing

o   Work with VPs of Development to prepare initial closing draw

o   Perform day-to-day activities and functions whole ensuring that departmental policies and procedures as well as cost and accounting standards are fully adhered to and implemented

o   Prepare and submit monthly requisitions to lenders

o   Track and reconcile project costs, invoices, and payments and submit appropriate invoices for payment

o   Ensure financial records are maintained in compliance with accepted policies and procedures

·       Review progress of development projects, including analyzing budget to actual reports and ensuring construction costs and financing are being properly recorded in Yardi Job Cost

·       Collaborates with development staff to ensure understanding of project, financing structure and timing of milestones

·       Provides technical skills and oversight to account for complex transactions in accordance with generally accepted accounting principles

·       Collaborates with Operating Accounting Managers for timely transfer of accounting information of development projects and transition of project from development stage to operations

·       Responsible for ensuring accurate and timely monthly, quarterly, and year-end financial reporting for Phipps Houses and Affiliates. This includes, but is not limited to:

o   Review of monthly financial reporting packages

o   Review of quarterly financial statements for Phipps Houses for internal distribution

o   Review of year-end financial statements

o   Preparation of workpapers to support general ledger balances

o   Review of activity in the Phipps Endowment investment accounts to ensure accuracy

o   Coordinate with our tax preparers to ensure timely filing of Phipps Houses and Affiliates tax return

·       Facilitate the completion of the audit of Phipps Houses Group, including preparation and review of workpapers and coordination with auditors to provide support and answer questions

·       Review trial balances for corporate entities for tax return filings

·       Coordinate with Brownfield Credit lawyers to file for Brownfield Credit Program tax credits and provide support and answer questions during the corresponding tax form

·       Shares responsibility with the Controller and Chief Financial Officer for evaluation and implementation of systems, policies, and procedures

·       Other ad hoc reports and assignments as requested

Desired Qualifications:

·       Education required is a minimum of a Bachelers degree in Finance or Business with a focus on Finance / Accounting

·       Five or more years of professional accounting experience in Real Estate

·       Two years of supervisory experience

·       Experience in accounting of consolidated entities a plus

·       Strong analytical skills, combined with the desire to evaluate and identify opportunities to streamline existing processes

·       Ability to develop strong cross-functional relationships and partnerships to meet business objectives and able to stay flexible working in a dynamic company

·       Ability to prioritize and meet rigorous timelines, while maintaining processes and excellent attention to detail

·       Good communication skills, both oral and written

·       Yardi experience preferred; experience with the Yardi Job Cost module a plus

·       Excellent technology skills preferred

Phipps Houses and Affiliates is an Equal Opportunity Employer that does not discriminate on the basis of actual or perceived race, creed, color, religion, citizenship or national origin, ancestry, alienage, citizenship status, age, disability or handicap, sex, marital status, veteran status, pregnancy, gender, sexual orientation, or any other characteristic protected by applicable federal, state or local laws.  Our management team is dedicated to this policy with respect to recruitment, hiring, placement, promotion, transfer, training, compensation, benefits, employee activities and general treatment during employment.