Financial Controller

JP Management LLC•Hackensack, NJ

9d•$180,000 - $210,000

About The Position

An established, privately held real estate investment and property management company with a significant multifamily portfolio is seeking an experienced Real Estate Controller to lead accounting, financial reporting, and operational finance. This is the company's senior accounting and financial management position. The Controller reports directly to ownership/senior management and works closely with the accounting and property management teams, outside CPAs, tax advisors, and other professionals. The role combines real estate accounting and controllership with financial oversight, cash management, lender coordination, budgeting, forecasting, and decision support. The Controller supervises the Senior Manager responsible for significant portions of day-to-day accounting and FP&A. The Controller maintains overall financial accountability and senior-level oversight while delegating detailed accounting and analytical work. The position oversees accounting and reporting for the multifamily portfolio, property-level ownership entities, and management company; establishes policies, procedures, reporting standards, and controls; and provides ownership with timely, accurate, decision-oriented financial information. The role also oversees financial planning, property and portfolio performance reporting, cash and liquidity planning, internal controls, capital expenditures and fixed assets, debt and lender reporting, and accounting support for acquisitions, dispositions, and refinancings. The Controller coordinates annual audits, reviews, tax preparation, lender examinations, year-end reporting, and supporting schedules with external professionals, and improves processes through standardization, automation, and effective use of accounting and property management systems.

Requirements

Bachelor's degree in Accounting or Finance.
Approximately 10 or more years of progressive accounting and financial experience, including significant multifamily or commercial real estate experience.
Strong leadership, organizational, analytical, and communication skills.
Strong experience managing multifamily accounting professionals.
Advanced Excel and financial analysis capabilities.
Experience with real estate accounting or property management software.

Nice To Haves

CPA; strongly preferred for candidates with an accounting degree.
Controller experience with a substantial real estate owner/operator, developer, or property management firm.

Responsibilities

Supervise the Senior Manager responsible for significant portions of day-to-day accounting and FP&A, while maintaining overall accountability for the financial function.
Oversee accounting and financial reporting for the multifamily portfolio, property-level ownership entities, and management company.
Establish and maintain accounting policies, procedures, reporting standards, and internal controls.
Work with ownership and senior management on significant accounting, financial, cash-flow, and property-performance matters.
Provide ownership with accurate, timely, decision-oriented financial information and develop accounting personnel.
Serve as the primary internal financial contact for outside CPAs and tax professionals.
Coordinate year-end financial reporting and supporting schedules for property, partnership, and corporate tax returns.
Coordinate annual audits, reviews, tax return preparation, and lender examinations.
Improve efficiency through standardization, automation, and better use of accounting and property management systems.
Review property-level income statements, balance sheets, general ledgers, cash flows, and budget-to-actual results.
Ensure proper accounting for rental income, concessions, delinquencies, bad debt, security deposits, operating expenses, capital expenditures, and other property activity.
Review material property-level variances and ensure significant issues are investigated and resolved.
Maintain responsibility for timely and accurate monthly, quarterly, and annual financial statements.
Review monthly reporting packages and provide consolidated and property-level reporting on revenue and collections, operating expenses, NOI and trends, budget-to-actual performance, financial variances, occupancy, and capital expenditures.
Identify financial issues requiring management attention and improve reporting processes and management dashboards as appropriate.
Oversee budgeting, forecasting, and financial planning, including review of operating assumptions and monthly and quarterly forecast changes.
Analyze actual performance against budget, forecast, and prior periods; review property-level and portfolio-level NOI trends.
Oversee cash-flow forecasting and liquidity planning, and develop forward-looking analyses for property operations, capital expenditures, debt obligations, and other significant financial matters.
Establish and maintain financial controls over cash receipts and disbursements, vendor setup, invoice approvals, bank accounts, journal entries, security deposits, intercompany transactions, and owner distributions.
Ensure appropriate segregation of duties, maintain documentation and audit trails, identify control weaknesses, and implement corrective measures.
Maintain overall responsibility for property-level and corporate cash management; review cash positions, funding requirements, reserves, and upcoming obligations.
Oversee bank accounts, reconciliations, transfers, treasury controls, and controls over operating accounts, security deposit accounts, escrows, and reserves.
Maintain financial oversight of major property capital expenditures and renovation programs, review repairs-versus-capital accounting, maintain fixed-asset records, and monitor projects against approved budgets.
Coordinate depreciation, fixed assets, and cost-segregation information with outside tax professionals.
Maintain schedules of outstanding debt, interest rates, amortization, maturities, escrows, reserves, and material loan requirements.
Review mortgage statements and ensure proper accounting for principal, interest, escrows, reserves, and lender-controlled accounts.
Oversee lender financial reporting and covenant compliance.
Support ownership on the financial and accounting aspects of acquisitions, dispositions, and refinancings, including acquisition financial due diligence.
Review historical acquisition property financial statements, rent rolls, operating expenses, capital expenditures, taxes, and other financial information; assist in evaluating acquisition assumptions and projected NOI.
Review closing statements and ensure proper accounting for acquisitions, dispositions, and refinancings.
Establish accounting systems, bank accounts, controls, and reporting procedures for newly acquired properties.
Coordinate financial information requested by lenders, CPAs, and other transaction professionals.