Financial Accountant (Development Accountant)

DEVCO MANAGEMENT COMPANY LLC•Saint Louis Park, MN

3d•$81,000 - $110,000•Hybrid

About The Position

DevCo is seeking a full-time Financial Accountant to join our team. This position may be based in our Bellevue, Washington office or St. Louis Park, Minnesota office. This position will report directly to the Financial Accounting Manager. The Financial Accountant is responsible for accounting and financial reporting for real estate development projects throughout the development lifecycle, from predevelopment through construction, lease-up/conversion, and transition to stabilized operations. This role maintains accurate project financial records, records development and financing activity, performs account reconciliations and financial analysis, supports project closings and owner funding activities, and coordinates with Development, Construction, Treasury, Asset Management, and third-party property management. The Financial Accountant also supports financial audits, process improvements, and other accounting initiatives.

Requirements

Strong analytical and problem-solving skills.
Ability to meet tight deadlines and prioritize workloads under pressure.
Ability to establish priorities and manage multiple tasks while seeing work responsibilities through to completion.
Excellent strategic, analytical and creative thinking aptitude in both an independent and team environment.
Must be a self-starter with the ability to work independently, be well organized, and perform in a fast-paced and changing environment.
Auditing skills, with the ability to research and reconcile complex accounts.
Advanced Microsoft Office skills (e.g., Word, Excel, PowerPoint, and Outlook) with an emphasis on Excel.
Strong organization and time management skills, with the ability to work cross-divisionally and to act and operate independently with minimal daily direction.
Strong interpersonal and communication (e.g., verbal, written, presentation) skills.
Strong systems knowledge, preferably in Yardi.
Familiarity with Shared Service general accounting processes.
Experience providing reporting and analysis to management
Bachelor's Degree in Accounting from Accredited College or University.
2-5 years financial accounting experience in Real Estate and Development preferred.
Must be able to speak, read and write English in a manner sufficient to carry out duties.
Successful completion of background check and drug screen required.
Must be legally qualified to work in the U.S. meeting I-9 guidelines.

Nice To Haves

Experience in Yardi preferred.

Responsibilities

Maintain accurate accounting records for development and predevelopment entities throughout the project lifecycle, including preparation of journal entries and review of project activity for appropriate accounting treatment.
Reconcile balance sheet accounts, bank accounts, Construction in Progress (CIP), development and construction loans, intercompany balances, and other project-related accounts.
Record and reconcile project closings and financing activity, including acquisitions, debt and equity funding, owner contributions, equity installments, development fees, and conversions.
Prepare and support owner cash calls, project funding requests, and construction draw activity as needed.
Prepare and analyze monthly financial statements, project reporting packages, and account reconciliations; monitor project costs, cash activity, funding, and significant outstanding accounting items.
Coordinate with Development, Construction, Treasury, Asset Management, third-party property management, lenders, investors, and other stakeholders to resolve project accounting and funding matters.
Support accounting activities and transitions throughout the project lifecycle, including development, construction, lease-up, third-party property management, and stabilized operations.
Assist with financial audits, tax return support, cost certifications, cost segregation studies, and other project-related reporting and compliance requests.
Research accounting matters and document appropriate accounting treatment as needed.
Identify and implement opportunities to improve, standardize, automate, and document accounting processes and procedures.
Support Accounting management with month-end and year-end reporting, system initiatives, training, and other ad-hoc projects.