Staff Accountant

Magnolia Capital•Chicago, IL

21h•Hybrid

About The Position

Magnolia Capital is currently seeking a Staff Accountant to assist in property financial reporting and accounting functions. This role will assist in all accounting functions for a growing portfolio of institutional quality, multifamily properties including the review of all disbursements, accounts receivable, and general ledger data and the preparation of reconciliations and other analysis as needed. The Staff Accountant will work closely with Magnolia’s property management brand, STYL Residential, to ensure accurate and timely financial reporting. The successful candidate must be a self-starter, organized, trustworthy, reliable, punctual, detail-oriented, and personable. This position is based out of Magnolia Capital's HQ in Chicago, IL.

Requirements

Bachelor's Degree required in Accounting
1-2 years of experience in accounting
Strong working knowledge of GAAP
Excellence time management skills
Strict attention to detail
High degree of confidentiality required
Strong written and verbal communication skills
Proficient with Excel and other Microsoft Office Suite products
Ability to collaborate and work in a team environment
Ability to meet stringent deadlines in a fast paced, results-oriented environment

Nice To Haves

CPA strongly preferred
Previous experience with institutional real estate accounting

Responsibilities

Oversee and review monthly, quarterly, and yearly information from related-party property management accounting
Compare financial results to budget and draft variance explanations
Review property level payables and receivables; inquire of property management team about unusual activity or past due balances
Review and maintain property fixed asset records, including GAAP and tax depreciation
Enter/import property level financials into corporate accounting system
Assist the Controller and asset management team in managing capital for renovations
Research relevant accounting issues and document findings/conclusions
Reconcile all parent company cash, investment, and equity accounts
Calculate and initiate payment for asset management and acquisition fees
Assist in development and implementation of accounting policies and procedures
Perform monthly, quarterly, and year-end closings of general ledger in accordance with GAAP
Perform other duties as assigned