Director, Recoveries and Collections

Perform Properties•Santa Monica, NY

About The Position

The Director of Recoveries and Collections is a senior finance leader responsible for maximizing the recovery, accuracy, and sustainability of tenant reimbursements across a national office and retail portfolio, responsible for overseeing and managing all aspects of tenant recovery operations. This role has authority to design recovery strategies, recommend and influence lease language, establish recoverability policies, direct tenant audit procedures, and oversee tenant audit outcomes, and make judgment-based collectability decisions. The role operates with a high degree of autonomy and serves as the point of accountability for tenant recovery governance, partnering closely with Portfolio and Asset Management, Leasing, Legal, Accounting, and Property Management.

Requirements

Bachelor's degree (accounting or similar field)
Minimum of 10 years of experience in commercial real estate finance, tenant recoveries/CAM, property accounting, audit, or portfolio operations
Deep experience across office and/or retail asset classes
Demonstrated success handling complex tenant audits and high-value disputes
5+ years of supervisory experience
Expert knowledge of commercial lease structures and recoverability provisions; CAM, operating expense, and tax, insurance, management fee recoveries; GAAP considerations affecting NOI and recoveries
Strong judgement in balancing technical compliance with practical business outcomes
Proven ability to operate with independent authority and sound discretion
Comfort making recommendations that influence lease negotiations, financial reporting outcomes, tenant relationship strategy

Responsibilities

Own and continuously refine the comprehensive recovery strategies and initiatives across office and retail assets, to maximize portfolio cost recovery and revenue generation.
Design, implement, and maintain formal recovery policies: recoverable vs. nonrecoverable cost definitions, allocation methodologies, administrative and indirect cost recoverability, and capital and CIP recoverability frameworks.
Establish consistent standards that balance lease compliance, audit defensibility, tenant relationships, and long-term NOI optimization; stay informed about market conditions and industry benchmarks to assess and enhance the competitiveness of recovery strategies.
Serve as a strategic partner to Leasing on deal structure and negotiations, Legal on lease interpretation and dispute resolution, Lease Administration and Accounting on acquisitions and new lease recovery pool system setup, Property Management on operational execution and documentation, and Asset Management on value creation and tenant strategy.
Collaborate with People & Culture/Learning & Development to provide training and guidance to internal teams on recoverability principles and best practices.
Act as finance authority on lease recoverability provisions including operating expense definitions, exclusions and caps, gross-ups and base year mechanics, audit rights and limitations; focus on maximizing revenue.
Partner with Leasing and Legal to recommend and approve standard recovery language for new leases, renewals, and amendments and evaluate proposed lease concessions or recoverability changes and advise on financial and long-term implications.
Partner with Portfolio Management and Data & Research to evaluate market rates for recoveries across the portfolio.
Lead or participate in special projects and initiatives related to tenant recovery operations, such as process automation, system implementations, or policy enhancements.
Develop and maintain strong relationships with external partners to support recovery efforts.
Lead tenant-specific and portfolio-level recovery billing collectability assessments.
Own and oversee all tenant audit activity: Audit intake, coordination, and response strategy.
Direct tenant recovery teams (in-house, affiliate, offshore); manage information exchange.
Review and recommend approval of audit findings, settlements, and adjustments.
Trend analysis and root-cause remediation.
Serve as the internal authority on audit outcomes and escalation decisions.
Monitor recovery trends and lead the review and analysis of lease agreements, CAM pool setups, and tenant accounts to identify recovery opportunities.
Use audit insights to improve future lease language, billing, and controls; develop and oversee resulting projects.
Establish and monitor internal controls over recovery calculations, billings, and adjustments; ensure accuracy and compliance with company policies, lease terms, and industry best practices.
Develop reporting and dashboards for recovery rates and leakage, audit exposure and outcomes, tenant dispute trends, portfolio-level risk indicators; communicate results, insights, and recommendations across senior leadership teams to support decision-making and revenue optimization.
Work in lock step with Accounting and FP&A leadership, property accounting, lease administration, and property operations to ensure recoveries are accurately recorded in NOI, accruals, and system setup, and financial reporting.