Real Estate Controller

Black Cultural Zone - Oakland, CA

- Mid Level

Remote - Oakland, CA

About the position

The Real Estate Controller, supported by their team lead the CFO, is a critical role within the Black Cultural Zone CDC (BCZ CDC). This role oversees the financial operations of the organization's real estate portfolio, including affordable housing and commercial real estate development projects. It involves managing financial reporting, accounting, budgeting, financial analysis and ensuring compliance with all relevant tax and audit requirements.

Responsibilities

• Prepare monthly, quarterly, and annual financial statements for the real estate portfolio, including income statements, balance sheets, and cash flow statements.
• Ensure the accuracy and timeliness of all financial reports related to real estate operations.
• Prepare financial reports for funders, board of directors, and other stakeholders.
• Oversee 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.
• Prepare journal entries to record real estate transactions, including rent revenue, property taxes, insurance, and maintenance expenses.
• Develop and manage annual budgets for the real estate portfolio.
• Prepare and monitor cash flow projections for real estate operations.
• Conduct variance analysis and provide recommendations for budget adjustments.
• Analyze financial data to identify trends and opportunities within the real estate portfolio.
• Prepare 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.
• Implement and 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.
• Oversee the preparation and filing of all required tax returns for real estate entities.
• Coordinate with external auditors to ensure timely and efficient audits.
• Review and analyze audit reports to identify potential issues and implement corrective actions.
• Maintain accurate records and documentation to support tax filings and audits.
• Assist with special projects as needed.
• Participate in meetings and trainings as required.

Requirements

• 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.
• Experience working with funders and grantors.
• In-depth knowledge of affordable housing and commercial real estate development.
• Understanding real estate finance, including debt and equity financing, property valuation, and asset management.

Nice-to-haves

• 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., Yardi) is strongly preferred.
• Experience working with diverse communities and building strong community relationships, specifically focusing on Oakland, California.
• Proficiency in Microsoft Office Suite and project management software.
• Exceptional communication, organizational, and problem-solving skills.
• Proven ability to thrive in a fast-paced, remote work environment.
• Strong proficiency in project management software and remote collaboration tools.
• Adaptability to changing priorities and ability to work independently.
• A passion for community development and a commitment to social impact.
• Self-directed, focused, responsible, and disciplined.