Controller, Operating Investments

SCHNITZER WEST LLC•Seattle, WA

16d•$150,000 - $180,000•Onsite

About The Position

The Controller, Operating Investments leads the property accounting function for a multi-entity portfolio of owned and third-party-managed operating assets. The role is accountable for accurate and timely financial reporting, internal controls, cash management, portfolio budgeting, CAM estimates and reconciliations, ownership and lender reporting, accounting-related lease and property-management contract administration, and development of the accounting team. The Controller partners with Investment Management, Asset Services, lenders, ownership groups, auditors, tax providers, insurance brokers, and third-party accounting contacts to support sound decision-making and consistent client service. The position has final accounting review and approval responsibility for monthly reporting packages, budgets, CAM estimates, and CAM reconciliations for operating assets in the assigned portfolio, subject to company approval policies and the delegated authority matrix. Responsibilities span team leadership, financial close and reporting, accounting governance, property accounting operations, cash and debt management, budgets and forecasts, audit and tax coordination, transaction accounting, systems, process improvement, and client service. This is a full-time, in-office position. The work environment is an office with usually moderate noise from typical business sounds, including computers, printers, telephones, and light traffic. The role’s physical demands include regularly walking, sitting, and using hands and fingers; talking and reading; occasionally standing and reaching; and occasionally lifting or moving up to 20 pounds. Close vision and the ability to adjust focus are required. Schnitzer West is an Equal Opportunity Employer. The stated salary range is $150,000–$180,000 annually, with eligibility for up to a 30% bonus opportunity based on individual and company performance.

Requirements

Bachelor’s degree in accounting, finance, or a related field, or an equivalent combination of education and relevant experience.
Eight or more years of progressive accounting experience, including financial close, financial reporting, reconciliations, internal controls, and audit support.
At least three years of supervisory or team-lead experience, including staff development and deadline management.
Experience in commercial real estate property operations accounting.
Advanced Excel skills and demonstrated proficiency with enterprise or property accounting systems.
Working knowledge of GAAP and ability to research and document accounting conclusions.
Strong analytical, problem-solving, organizational, written communication, and interpersonal skills.
Ability to manage multiple legal entities, reporting calendars, ownership structures, and stakeholder requirements.

Nice To Haves

Certified Public Accountant (CPA) designation and/or an advanced degree.
Public accounting experience.
Experience with Yardi, MRI, or similar property accounting and lease administration software; Argus or similar real estate cash-flow analysis software is helpful.
Experience with portfolio-level operations management and lease administration, including complex CAM estimates and reconciliations and a comprehensive understanding of fixed and variable expense impacts.
Experience with third-party property accounting, acquisitions, dispositions, debt compliance, owner distributions, and CAM reconciliations.
Experience with Microsoft 365, banking platforms, electronic accounts-payable systems, budgeting and forecasting tools, and system implementations or conversions.

Responsibilities

Lead, supervise, train, and develop investment and property accounting staff; balance workloads, set priorities, and manage deadlines across reporting calendars and accounting systems.
Participate in hiring, onboarding, goal setting, performance management, succession planning, and staff development; maintain cross-training and coverage plans.
Provide technical guidance and workflow coordination to corporate accounting personnel and other departments, and implement consistent accounting practices and service standards.
Lead monthly, quarterly, and annual close processes, including journal entries, accruals, reconciliations, financial statements, variance explanations, and ownership and lender reporting.
Review monthly reporting packages and significant account areas for accuracy, completeness, consistency, and timely delivery.
Establish and manage the monthly accounting calendar, reporting deadlines, and review milestones; improve management reporting, portfolio consistency, variance analysis, forecasts, and decision-support tools.
Coordinate distribution of financial reports and schedule monthly cash-flow review meetings for company-owned properties; maintain interaction with investment, asset services, and property management teams.
Establish, document, and monitor accounting policies, procedures, and internal controls, including cash management, reconciliations, journal-entry approvals, payables, receivables, system access, and segregation of duties.
Ensure approval workflows and delegated authority limits are followed; monitor control exceptions, support fraud prevention, and coordinate corrective action.
Maintain supporting accounting records for audits, tax compliance, lender reviews, and ownership requirements; ensure compliance with GAAP, agreements, lender requirements, and company policies.
Oversee tenant billing, cash receipts, rent-roll-to-general-ledger reconciliation, receivables, collections reporting, bad-debt analysis, security deposits, and lease accounting setup.
Oversee accounts payable, vendor controls, expense coding, property accruals, fixed assets, capital-project accounting, and construction-in-progress transfers.
Lead accounting for operating expense estimates and recoveries, real estate taxes, insurance recoveries, and other tenant reimbursements; monitor receivables, delinquencies, and collection risks.
Coordinate accounting setup for new properties, legal entities, leases, debt arrangements, ownership structures, and third-party management engagements.
Review capital calls and loan draws; calculate and coordinate owner distributions, tracking equity, capital balances, preferred return, and other ownership economics as required.
Review debt activity, interest calculations, lender reserves and escrows, covenant reporting, compliance certificates, and lender submissions; improve cash management, liquidity forecasting, banking administration, and payment controls.
Lead budget guidelines, assumptions, calendars, and instructions; coordinate portfolio assumptions for personnel and shared departmental costs.
Perform final accounting review of property budgets and forecasts for consistency with leases, contracts, historical results, capital plans, and ownership assumptions.
Lead CAM and other operating expense reconciliation guidelines and perform final review and approval; partner with property management and Asset Services on recoverability, gross-ups, caps, exclusions, prior-year true-ups, and supporting documentation.
Coordinate annual financial statement audits and tax-return preparation; respond to auditor and tax-provider inquiries.
Coordinate property tax, personal property tax, business license, sales/use tax, 1099, and other applicable reporting with internal staff and outside providers; prepare or review tax-basis schedules and tax-related support as applicable.
Provide property and financial information to insurance brokers and support renewals, claims, values, and exposure reporting; monitor compliance with management agreements, operating agreements, loan documents, and other governing documents.
Support acquisitions and dispositions, including projections, opening and closing balance sheets, closing statements, prorations, working-capital settlements, purchase accounting support, and transition planning.
Research, document, and review accounting treatment for significant or unusual transactions, and lead accounting implementation for new property and ownership structures.
Coordinate transitions involving third-party owners, managers, lenders, and accounting service providers.
Serve as senior accounting liaison with third-party accounting contacts and work with Investment Management and Asset Services to maintain high-quality accounting services.
Identify and implement process improvements, automation, standardized reporting, dashboards, and accounting-system enhancements; participate in system implementations, conversions, integrations, chart-of-accounts changes, and user-acceptance testing.
Monitor relevant developments in GAAP, lease accounting, accounts-payable automation, property accounting systems, budgeting platforms, and related technologies; communicate and train teams on required changes.
Participate in new-business proposals, presentations, and special projects as needed.

Benefits

Medical insurance with HSA or PPO plan options through Premera Blue Cross for eligible employees and dependents.
Prescription drug insurance included with each medical plan.
Dental insurance for eligible employees and dependents.
Vision insurance for eligible employees and dependents.
Basic life, accidental death and dismemberment, short- and long-term disability, and optional employee-paid voluntary life insurance.
Dependent Care Flexible Spending Account (DCFSA).
Employee Assistance Program (EAP).
401(k) retirement plan with employer match.
Paid time off: three weeks of PTO accrual, with increases based on years of service.
Ten paid holidays per year.
Eligible for up to a 30% bonus opportunity based on individual and company performance.