Controller, Operating Investments

Schnitzer West•Seattle, WA

12d•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 accounting-team development. The Controller partners with Investment Management, Asset Services, lenders, ownership groups, auditors, tax providers, insurance brokers, and third-party accounting contacts. The position has final accounting review and approval responsibility for monthly reporting packages, budgets, CAM estimates, and CAM reconciliations for assigned operating assets, subject to company approval policies and delegated authority.

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 understanding 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, establish priorities, and manage deadlines across reporting calendars and accounting systems.
Participate in hiring, onboarding, goal setting, performance management, succession planning, and employee 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 reporting packages and balance-sheet and bank reconciliations, tenant receivables, security deposits, fixed assets, depreciation, debt activity, related-party and intercompany balances, straight-line rent, lease accounting, and other significant estimates.
Set and manage the monthly accounting calendar, reporting deadlines, review milestones, report distribution, and cash-flow review meetings for company-owned properties.
Improve management reporting, portfolio consistency, variance analysis, forecasts, and decision-support tools; communicate with investment, asset-services, and property-management teams about portfolio activity and results.
Establish, document, and monitor accounting policies, procedures, and internal controls, including controls over cash, reconciliations, journal entries, payables, receivables, system access, and segregation of duties.
Ensure delegated authority and approval workflows are followed; monitor control exceptions, support fraud prevention, coordinate corrective action, and maintain records for audits, tax compliance, lender reviews, and ownership requirements.
Ensure accounting and reporting comply with applicable GAAP, management agreements, ownership and lender requirements, and company policies.
Oversee tenant billing, cash receipts, rent-roll-to-general-ledger reconciliations, receivables, collection 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; report delinquencies, collection risks, and recommended actions.
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 and track equity, capital balances, preferred returns, and other ownership economics as required.
Review debt activity, interest calculations, lender reserves and escrows, covenant reporting, compliance certificates, and lender submissions; improve liquidity forecasting, banking administration, and electronic-payment and check controls.
Lead budget guidelines, assumptions, calendars, and instructions; provide portfolio assumptions for personnel and shared departmental costs; perform final accounting review of property budgets and forecasts.
Lead CAM and other operating-expense reconciliation guidelines and perform final review and approval; work with property management and Asset Services on recoverability, gross-ups, caps, exclusions, true-ups, and supporting documentation.
Coordinate annual financial-statement audits and tax-return preparation; respond to auditor and tax-provider inquiries and coordinate applicable tax and regulatory reporting.
Prepare or review tax-basis schedules and tax-estimate support, respond to notices and information requests, and provide information to insurance brokers for renewals, claims, values, and exposure reporting.
Monitor compliance with accounting provisions in management agreements, operating agreements, loan documents, and other governing documents.
Support acquisitions and dispositions, including cash-flow 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, including acquisitions, dispositions, lease modifications, tenant improvements, capital projects, debt transactions, impairments, ownership restructurings, and related-party transactions.
Lead accounting implementation for new property and ownership structures, including chart-of-accounts design, system setup, reporting, forecasting, budget controls, and out-of-budget expenditure requests; coordinate transitions among owners, managers, lenders, and accounting providers.
Serve as senior accounting liaison with third-party accounting contacts and work with Investment Management and Asset Services to maintain accounting service quality.
Identify and implement process improvements, automation, standardized reporting, dashboards, and accounting-system enhancements; participate in 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 changes and train teams.
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 and accidental death and dismemberment insurance.
Short- and long-term disability insurance.
Optional employee-paid voluntary life insurance.
Dependent Care Flexible Spending Account (DCFSA).
Employee Assistance Program (EAP).
401(k) retirement plan with employer match.
Three weeks of PTO accrual, with increases based on years of service.
Ten paid holidays per year.
Up to a 30% bonus opportunity based on individual and company performance.