Senior Development and Property Accountant

National Housing Trust•Washington, DC

9d•Hybrid

About The Position

National Housing Trust (NHT) is seeking a Senior Development and Property Accountant to join their team. This role is responsible for reviewing monthly real estate operating properties for accuracy, providing journal entries to property managers, and preparing auditors with trial balance and work papers annually. The position involves communication with property management companies, project lenders, NHT staff, NHT leadership, and deal investors. Additionally, the role is responsible for updating and maintaining accounting records for construction and real estate operating properties, and evaluating the reasonableness of financial statements and accompanying schedules for assigned reporting entities. The position has no supervisory duties and requires the ability to work additional hours during audit seasons. This is a DC-based position with a hybrid work schedule, requiring a minimum of two days per week at NHT’s administrative office.

Requirements

Bachelor’s degree in accounting, finance, or related field.
Five years of progressive experience in Accounting or Finance; with a strong preference for specialized experience in real estate, multi-family development, property management, affordable housing and LIHTC.
Excellent organizational, problem-solving, and time-management skills.
Ability to manage multiple projects with competing deadlines.
Proficiency with accounting software.
Proficiency with all MS Office software including advanced Excel capabilities (i.e. formulas and functions).
Exceptional knowledge of finance, accounting, budgeting, cost control principles, and Generally Accepted Accounting Principles (GAAP).
Solid experience coordinating audit activities and managing reporting, budget development and analysis, accounts payable and receivable, general ledger, and accounting for investments.
Strong interpersonal skills to effectively work with people at all levels across all departments.
Strong attention to detail and analytical ability to develop and implement improvements, as needed.
Excellent verbal and written communication skills with the ability to convey complex financial concepts and data.
A collaborative approach and team orientation.
Commitment to NHT’s mission, including a deep dedication to assisting low-income families.

Nice To Haves

Three or more years of LIHTC experience is strongly preferred
CPA or CMA license preferred

Responsibilities

Performs full cycle real estate accounting and project accounting for an assigned portfolio of properties with a focus on affordable housing real estate projects in stable operation, predevelopment, or development.
Oversee third-party property manager accountants’ monthly financial preparation and reconciliation issues.
Performs duties related to tracking and accounting for General Partner (GP) and Limited Partner (LP) interests in partnerships, accounting for fees earned, funds released, and reporting on project financial implementation.
Monitor intercompany accounting issues related to operating properties, loans receivable or payable, and related reconciliations.
Review monthly variance analysis reports and work closely with asset management on variance details.
Complete monthly, quarterly, and yearly financial statements for internal and external stakeholders.
Assist in the annual audit process for assigned entities and coordinate the tax process, as needed.
Participate in the calculation of the yearly surplus-cash calculations performed by Asset Management based on the audited financials.
Work with various departments to develop budgets and forecasts.
Calculate variances from the budget and report significant issues to management.
Ensure the organizational reporting requirements are met.
Integrate entity development activity into the operating ledgers maintained by the management agent.
Performs analysis on fund sources and uses, records and reconciles construction draw and construction financing transactions including acquisition and disposition, records loan fund interest accruals and equity investments, and bank deposits.
Performs bank reconciliations if needed, assists with the month end closing of the accounting records and project financial statement preparation, assists with budgeting and accounts receivable.
Records monthly trustee activity for projects that are bond financed; reconciles bank and bond accounts.
Manage construction draws and lender requisitions for assigned properties.
Maintains a monthly calendar (or as dictated in the loan agreement) to ensure reimbursements are done in a timely manner.
Reconciles draws to actual costs and the construction budget; tracks projected budgets with actual costs and provides auditor with project Construction in Progress (CIP)/fixed assets updates; develops and updates depreciation, amortization, and asset retirement obligation schedule; creates financial reports for investors and fund sources.
Assist with proforma preparation, closing process, initial draws and settlement statements.
Serve as the liaison for assigned properties between Finance and the Development Managers for 3rd party reporting requirements.
Support the Director of Development and Assistant Controller with monitoring the entity and project cash flow operating needs.
Prepares accounting packages for auditor review for assigned properties.
Regular calls and communication with vendors, contractors and banks to obtain adequate information as source documentation for audit records.
Provides supporting documentation for financial audits and other financial reviews as needed.
Assist in transitioning properties from development to operations.
Improve internal controls, policies, and procedures in accordance with GAAP.
Perform other duties as assigned that are pertinent and arise in the ordinary course of business.