Pay: $50-58/hour
Firsts week of onboarding will be 4-5 days in office.
Competition: They are reaching out to RHI but have not spoken to them yet
Interview process: 90-min onsite interview on either Tuesday or Thursday (three 30-min interviews with team)
Profile:
- Property or development accounting experience preferred but not required.
- Can do property monthly closes, and draws with minimum supervision and training preferred.
- RealPage ERP preferred
_______________________________________
Job Title: Senior Development Accountant
Company: MidPen Housing - Foster City, CA
Worksite: Hybrid 2 days/week - Tues and Thurs in office required
Length: 6-8 months
Potential to convert: Yes
Reports to:
Development Accounting Manager
Reason for need:
LOA
Keys:
- Solid accounting month end close skills required—must be comfortable with bank reconciliations, month-end close, and (a plus - recording loan amortization and depreciation from the sub-ledger)
- MidPen is willing to train on aspects specific to development accounting, provided the candidate has a strong foundational accounting background
POSITION OVERVIEW
This position is responsible for the full accounting cycle of development projects and newly placed in service properties in a given portfolio around10 plus projects with minimum of 6 major on-going projects, including the analytical and reconciliation of all transactions in compliance with US GAAP, MidPen Accounting Policies and Procedures Manual and other statutory requirements, e.g., Low Income Housing Tax Credit rules.
The Senior Development Accountant works with a variety of team members in Development, Corporate and Property Accounting, Property Management, Asset Management and Resident Services as well as the management team at MidPen. Senior Development Accountant role requires highly tuned technical accounting skills as well as excellent communication skills.
ESSENTIAL DUTIES:
- Prepare and submit loan draw requests in a timely manner.
- Perform monthly close for assigned newly constructed properties and in construction properties. Including general ledger analysis, bank reconciliations, accruals, loans’ interests and payments, rental revenue, expenses variance analysis, and prepare financial statements.
- Track project actual costs and funding usages vs. project budgeted and contracted amounts in Job Cost Module and related interface with various applications. Prepare analysis of budget, contract, and actual variances, as needed.
- Prepare annual audit schedules and work with external auditors to complete audit and tax returns and ensure all are filed within timeline of partnership and other applicable agreements.
- Collaborate with project managers and other accountants to meet company’s accounting needs and reporting requirements.
- Review and understand GAAP audits and footnotes prepared by external auditors.
- Responsible for analyzing and interpreting financial information as well as accurately compiling and reporting the information for an assigned portfolio of projects.
- Responsible for reading and understanding all compliance and partnership documents, including regulatory and loan agreements, as well as accounting treatment associated with each document.
- Concisely present financial information and appropriately answer accounting questions to management and other users, as requested.
- Ensure all inter-entity transactions are in balance. Analyze and clear variances prior to financial reporting
- Ensure surplus distributions are correctly calculated and appropriately distributed.
- Provide ad-hoc reporting, as requested. High proficiency in Excel tools used in analysis.
- Perform other assignments as requested.
QUALIFICATIONS:
- Bachelor degree in Business Administration or Accounting Required
- CPA preferred. Applicable GAAP required, and Low Income Housing Tax Credit knowledge a plus.
- Minimum of three years of general ledger accounting experience required with increased responsibilities.
- Experience in accounting for job costs, real estate development, property rehab or construction, strongly preferred.
- Experience reviewing and ensuring compliance of regulatory, partnership, and loan agreements preferred.
- Experience using enterprise accounting software and working knowledge of RealPage preferred.
- High degree of accuracy, accountability and consistency produce quality work.
- Advanced PC applications: Excel, Word, Access, and Outlook.
