Senior Portfolio Accountant Real Estate

Hr Advantage - Boston, MA

Full-time - Mid Level

Boston, MA

Insurance Carriers and Related Activities

About the position

The Senior Portfolio Accountant is responsible for overseeing the financial reporting and compliance of property management activities, ensuring adherence to GAAP and company policies. This role involves reviewing financial reports, preparing analytical documents, and providing support to various stakeholders, including Asset Managers and Controllers. The position requires a strong understanding of property management accounting and the ability to work independently while managing multiple tasks effectively.

Responsibilities

• Review monthly and quarterly third-party property management reports for compliance with GAAP and funds' policies.
• Summarize variances between actual results and approved plans or pro forma purchase underwriting.
• Confirm proper accrual accounting for expenses and their escalation and pass-through to tenants.
• Prepare quarterly analytical reports and budget variance narratives for focus meetings.
• Provide ongoing support to Asset Managers, Controller, Assistant Controller, and Manager for assigned portfolios.
• Act as a resource to third-party accountants regarding accounting policies and procedures.
• Assist in supplying documentation for quarterly and annual financial statements for investors and lenders.
• Prepare loan draw and escrow release documentation.
• Assist in the funding requests for monthly, emergency, and security deposit cash requirements.
• Support annual business planning, budgeting, and reforecasting processes for multiple portfolios.
• Monitor REIT compliance and debt compliance at the property level.
• Assist in preparing supporting schedules for state and federal tax returns.
• Monitor real estate tax amounts funded to and disbursed from properties' Operating Accounts prior to due dates.
• Assist in accounting for acquisitions and dispositions and coordinate the New Property Transition process with the Property Manager.
• Review various functional areas in support of property accounting as needed.

Requirements

• Bachelor's degree in Finance or Accounting preferred.
• 4+ years of accounting experience, with at least 3 years in property management or real estate accounting.
• Significant experience with property management software, preferably Yardi.
• Exceptional organizational skills with the ability to multitask and meet deadlines.
• Prior supervisory experience required.
• Ability to take direction and work independently with strong attention to detail.
• Strong analytical, communication, and interpersonal skills.