CAM Recoveries Analyst

Vestar Properties•Phoenix, AZ

12d•Onsite

About The Position

The Recoveries Analyst will be responsible for the annual tenant account reconciliations in accordance with terms. As CAM recoveries serve as an integral part of the accounting process, the individual will be working closely with the accounting, property management and lease administration teams on a regular basis to provide the most current and accurate information pertaining to each tenant’s lease.

Requirements

Advanced Excel skills a must; ability to work with large data sets and formulas
Strong interpersonal and communication skills for cross-department collaboration
Strong analytical skills with a high level of accuracy and meticulous attention to detail
Excellent organizational and time-management abilities
Ability to manage multiple priorities and meet tight deadlines
Bachelor’s degree in accounting, finance, business administration with emphasis in Accounting or related field is a plus
2 to 5 years of Commercial Real Estate experience and a working knowledge of Recoveries
Previous experience in Property Accounting, Lease Administration, or CAM Recoveries role
Experience with MRI and YARDI accounting software.
Microsoft Office (advanced Excel proficiency required)
Knowledge of finance, accounting, budgeting, cost accounting and cost control principles, and Generally Accepted Accounting Principles (GAAP)
Excellent written and verbal communication skills
Strong attention to detail
Applicants must have valid work authorization that does not know and/or will not in the future require sponsorship of a visa for employment authorization in the US by Vestar.

Responsibilities

Calculate and prepare year-end tenant reconciliations for common area maintenance, property insurance, and real estate taxes, referred to as ‘CAM’.
Review lease agreements and related legal documents to ensure accurate application of terms and all recoverable expenses are properly allocated including caps and exclusions.
Complete the initial and ongoing setup of CAM recovery calculations.
Partner with Property Management and Accounting Managers to assist with the annual property level budgeting process. Input and validate recovery estimates within Excel templates and internal accounting systems and verify lease level budget assumptions for CAM.
Partner with Property Management, Collections, and Accounting teams to research and resolve tenant billing inquiries and disputes. Adjust tenant recovery setups as needed and maintain audit trails for all changes in billing methodology or allocations.
Calculate and prepare semi-annual and annual property tax billings, annual insurance billings, and related tenant adjustments.
Facilitate responses to tenant audit requests by compiling necessary backup documentation, calculation worksheets and transaction level support. Reconcile tenant ledgers to ensure consistency between billed, paid and adjusted amounts.
Review and approve recovery related Tenant Accountant Adjustments (TAAs) submitted by Property Management Teams. Ensure adjustments are properly justified, documented and aligned with lease terms.
Provide support to other departments including property management, accounting, leasing, and lease administration for lease interpretation and recovery implications as needed.
Maintain internal documentation for CAM reconciliation procedures and recovery processes. Identify and implement opportunities for efficiency, accuracy and consistency across portfolios.