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Senior Accountant

Senior Accountant

Job ID 
2018-1238
# of Openings 
2
Job Locations 
US-MA-Boston
Posted Date 
1/12/2018
Category 
Accounting - Value Add

More information about this job

Overview

Colony NorthStar, Inc. is a global real estate investment manager with over $42 billion in assets under management, 18 global locations, and 500+ employee’s worldwide, owning and managing numerous real estate verticals including Global Healthcare, U.S. Industrial, U.S. Hospitality, Global Other Equity & Debt, and Investment Management.

 

Opportunity:

 

The Senior Accountant is responsible for the property accounting and assigned tasks of a real estate portfolio consisting of multi-tenant offices or single tenant net leases.  The position reports to the Assistant Controller for multi-tenant offices and to the Manager for single tenant net leases.  The position is based in Boston and supported by an outsourced team of accounting professionals based offshore.

Responsibilities

General Accounting

  • Approve scheduled deliverables from offshore team (ex. journal entry upload files)
  • Approve journal entries prepared by staff accountant (ex. impairment, supplemental operating revenue and expenses)
  • Confirm proper accrual accounting for expenses and applicable escalation and pass-through to tenants
  • Approve unbilled and overbilled tenant expense recovery adjustments prepared offshore
  • Review annual CAM reconciliations and billings prior to management approval
  • Review Fixed Asset System data and general ledger interface and validate accounting
  • Review Job Cost module; ensure capitalization policy compliance
  • Review system’s straight-line rent function output, monthly amortization, and tie-out to lease documents
  • Review and approve market lease adjustments
  • Conduct balance sheets review and prepare reconciliations
  • Conduct income statements review and prepare reconciliations
  • Prepare monthly financial workbooks (work papers) and analysis
  • Prepare monthly, quarterly and annual financial statement packages, supplemental financial information, and footnote disclosures; ensure compliance with GAAP, policies and procedures, and guidelines
  • Review and summarize variances between properties’ actual results and their corresponding approved plans and/or pro forma purchase underwriting; reconcile NOI variances to occupancy levels
  • Prepare trend review report for offshore team’s follow-up review and analysis
  • Monitor debt compliance at the property level; prepare applicable documentation and required financial reports
  • Maintain loan payable schedules and validate interest expense accounts (prepaid, accrued, expense) monthly
  • Prepare annual financial audit deliverables (bank confirmations, PBC accounting work-papers)
  • Monitor REIT compliance at the property level
  • Prepare pro-rations and related accounting for acquisitions and dispositions; prepare re-prorations pursuant to purchase and sale agreements
  • Prepare, review, or approve components of property budgets and reforecasts, depending on role or function
  • Train staff accountants; respond to inquiries, as needed; delegate tasks where appropriate
  • Provide ongoing support to Asset Managers, property managers, and accounting management for assigned properties; respond to inquiries, as needed

Cash Management

  • Review daily cash activity and balances; review staff accountant’s cross check with bank integrated services
  • Approve daily cash report prepared offshore
  • Initiate funding of Concentration Accounts
  • Forecast and reserve for cash requirements in connection with capital expenditures, property taxes, and material expenses
  • Monitor line borrowing availability and repayment; prepare recording for approval
  • Authorize wire transfers, ACHs, book transfers, and other EFTs prior to supervisory approval
  • Approve bank statement reconciliations
  • Monitor reserve and escrow cash and prompt release requests

 

Accounts Receivable

  • Approve monthly net-out adjustments prepared offshore; approve final aged delinquency reports
  • Approve posting of tenant direct expense recovery charges ("bill-backs")
  • Approve tenant indirect expense recovery (CAM) calculations prepared offshore
  • Approve aged delinquency reports
  • Validate and approve tenant lease information prior to system activation (ex. lease data, recurring charges, CAM)

 

Accounts Payable

  • Review and approve invoices in automated workflows
  • Review and authorize loan payments prior to supervisor approval
  • Monitor property tax matters, including timely payments, abatements, related tenant recovery adjustments
  • Approve systematic management fee function
  • Approve sales tax returns and reconciliations
  • Monitor guidance and support provided by AP and staff accountants to third party management personnel

Other Responsibilities

  • Ensure the timely completion of system set-up requirements
  • Participate in Sarbanes-Oxley compliance activities applicable to job functions
  • Identify and remedy process failures
  • Routinely validate custom report designs and related data integrity
  • Other ad hoc duties and related reporting, as assigned and directed

Qualifications

  • Four-year degree in Accounting, Finance, or related discipline
  • Four to seven years of experience in a public accounting firm, real estate company, or a public/private mix
  • Significant experience with property management software (Yardi Voyager 7s highly desirable)
  • Experience with intercompany transactions
  • Intermediate to advanced Excel skills; experience with MS-Word
  • Strong analytical, communication, and interpersonal skills
  • Exceptional organizational skills, with the ability to multitask, prioritize, and meet and enforce established deadlines
  • Proven ability to initiate and complete work independently
  • Prior supervisory or task oversight experience preferred
  • Professional demeanor with a strong work ethic
  • Ability to take and provide direction well
  • Ability to perform multiple assignments with high attention to detail
  • Ability to work cooperatively and collaboratively with all levels of employees, management and external vendors to maximize performance, creativity, problem solving, and results.