Manager, Property Accounting

BXP•Boston, MA

4d•Onsite

About The Position

The Primary Purpose of this Position is to review, manage, audit, and analyze all financial matters related to the portfolio. This role provides support to the VP, Regional Controller and Senior Manager regarding the training and technical development of Senior Accountants and Accountants. The Manager, Property Accounting will coordinate initial and ongoing training, review and approve quarterly audit binders, and assist in the close the books process. This role involves reviewing financial statements for lenders, joint venture partners, and third parties, as well as reviewing tenant operating and real estate tax escalations. The Manager will analyze and interpret tenant leases, assist in complex transactions, and ensure tenants are billed correctly. They will also participate in variance analysis, perform straight-line rent responsibilities, and assist in preparing materials for business plan and reforecast meetings. This position is responsible for reviewing and posting journal entries, reviewing fixed assets, recurring billings, and lease logs, and managing departmental and regional timelines. A key responsibility is understanding and ensuring compliance with all legal documents related to assigned properties. The Manager will support the Finance & Capital Markets team with acquisitions, dispositions, and recapitalizations, and assist in transitions of new developments. Collaboration with Lease Administration, Accounts Receivable, Accounts Payable, Tax, Finance, Financial Reporting, and senior management is expected. This role also serves as a liaison to external audit teams and reviews capital calls, construction loan draws, and reporting for development projects. Finally, the Manager will review reporting for Senior Accountants and Accountants, collaborate with peers on process improvements, and perform other duties as assigned.

Requirements

Bachelor’s degree in Business Administration or Accounting required.
A minimum of five years of accounting experience required.
Excellent computer skills with proficiency in MS Excel required.
Proven organizational skills with ability to set priorities, manage multiple projects, and meet deadlines.
Self-starter capable of finding solutions with minimal supervision.
Ability to interact with co-workers, clients or vendors in an articulate, courteous and professional manner.
Ability to work under pressure.
Ability to work independently, as well as part of a team.
Adaptability to changing demands.

Nice To Haves

Previous accounting experience in commercial real estate settings or related industries preferred.
Exemplifies proven leadership skills by showing initiative, serving as a role model, demonstrating accountability, and a shared sense of commitment to the organization.

Responsibilities

Coordinate initial and ongoing training to Senior Accountants and Accountants based on the company’s processes, policies and procedures.
Review and approve quarterly audit binders and assist VP, Regional Controller/Senior Manager in the close the books process.
Review of financial statements as required for lender, joint venture partners and third parties in accordance with requirements contained in agreements.
Review of tenant operating and real estate tax escalations (escrows and true ups).
Analyze and interpret tenant leases and assist in the implementation and analysis of complex transactions for the region (acquisitions, dispositions, complex leases, debt transactions, etc.).
Ensure tenants are billed all rental and additional charges per their lease.
Participate in the initial review and presentation of quarterly revenue, NOI, and depreciation variance analysis to executive and senior management.
Perform regional straight-line rent responsibilities such as regenerations, reconciliations to the control file, and coordinates with lease administration in accordance with revenue recognition policies.
Assist VP, Regional Controller/Senior Manager in the preparation of materials and presentation of the annual business plan meeting and quarterly reforecast meetings.
Responsible for the review and posting of journal entries.
Responsible for the review of all monthly fixed assets, recurring billings and lease log.
Responsible for managing departmental and regional timelines.
Responsible for understanding and ensuring all accounting complies with all legal documents related to assigned properties (e.g. management agreements, development agreements, joint venture agreements, mortgage documents, etc.).
Provide support to the Finance & Capital Markets team as it relates to all acquisitions, dispositions and recapitalizations.
Assist in the transition of all acquisition, dispositions and new developments.
Work jointly with Lease Administration, Accounts Receivable, Accounts Payable, Tax, Finance, Financial Reporting and senior management in various corporate & regional departments.
Liaison to our external audit teams (REIT reporting, “Stand-Alone” GAAP and IFRS financial statements and notes, income and expense audits and operating expense audits).
Review capital calls, construction loan draws and all reporting related to the company’s development projects.
Review reporting related to the corporate accounting responsibilities of the Senior Accountants and Accountants.
Collaborate with peers at Manager level to discuss process improvements and best practices
Perform other duties as assigned.