Manager, Real Estate Accounting

Position Title: Manager, Real Estate Accounting

Department: Finance

Reports to: Director, Real Estate Accounting

Salary grade: P

Salary Range: 83,000-103,800

Position Summary:

The Manager of Real Estate Accounting will manage the Real Estate Accounting Team in the Finance department, providing a broad range of financial management and strategic support functions. The position coordinates and performs budgetary and financial accounting functions in direct support of the Real Estate Group (REG), Choice Neighborhoods (CN), and Facilities and Operations Management (FOM) to include Atlanta Housing (AH)-Owned properties (residential and commercial), Corporate Finance and program initiatives. This includes organizing, developing, managing, and integrating all associated financial matters in accordance with policies and procedures established by the Department of Housing and Urban Development (HUD), and other federal, state, and local laws, rules and regulations pertaining to Atlanta Housing accounting operations. In addition, this position ensures financial information with respect to real estate development and operations is recorded and presented in accordance with Generally Accepted Accounting Principles (GAAP) and Atlanta Housing operating policies and procedures.

Essential Duties and Responsibilities:

• Manage and guide staff using management practices that develop and retain highly competent and highly performing employees. Supervisory duties include instructing, assigning, coordinating, reviewing and managing the work of team members to ensure completeness, accuracy, and timely completion; make recommendations for improvement, offer training and professional guidance, and provide assistance as necessary.
• Collaborate actively with REG senior management and staff, lead the annual REG, FOM, and CN projects and departments’ budget process based on AH corporate guidelines by providing budget instructions, ensuring development of achievable and realistic spending budget assumptions, reinforcing corporate and REG goals and objectives, creating timely and accurate supporting schedules, including underlying assumptions used.
• Plan and direct the AH-Owned Residential Communities’ annual budget process by developing budget instructions, communicating goals and objectives to the Property Management Developers (PMDs), creating supporting schedules and forms, leading the review of operating and capital budgets, and coordinating changes, as necessary.
• In collaboration with the Asset Managers in AH, oversee the development of the annual HomeFlex and MIXED Communities budgets and related activities.
• Review and analyze operations and financial performance reports. Provide financial guidance and feedback to Property Management Developers (PMDs) and REG Senior Management on financial matters.
• Actively participate in strategic discussions related to site-based budgeting, property development forecasts and asset management. Ensure long-term forecast is adjusted accordingly, when applicable.
• Oversee the Jobs and Contracts in Yardi’s Construction and Grant Management (CGM) module including tracking of funding sources including effective contract administration for assigned contracts.
• Oversee other REG financial management such as the monthly HomeFlex and Operating Subsidy payment process, including Operating Income Payments to the AH-Owned Residential Communities, and the Payment In Lieu of Taxes calculation for all AH-Owned and MIXED communities.
• Formulate and recommend policies, procedures, objectives, budgets, plans, cost controls and schedules for REG operations.
• Develop, recommend, implement and monitor quality control audits and evaluate work standards and performance levels ensuring uniformity, and effectiveness.
• Review and analyze financing commitment, partnership, management, and other agreements related to the low-income housing tax credit properties to ensure fees and other financial transactions recorded are timely, accurate, and allowable.
• Identify and perform required accruals during the year and at year-end in accordance with GAAP.
• May be required to perform other related duties as required and/or assigned.

Knowledge and Skill Requirements:

• Knowledge of accounting theory, principles, and practices
• Working knowledge of the Code of Federal Regulations (C.F.R.) and/or the U.S. Department of Housing and Urban Development (HUD) rules and regulations, including Rental Assistance Demonstration Program (RAD) preferred.
• Knowledge of affordable housing finance, including multifamily development and operations.
• Previous Yardi experience is a plus.
• Experience with effectively leading a high-performance team.
• Demonstrated experience in implementing consistent and standardized policies, procedures, and processes.
• Demonstrated experience managing multiple projects.

Education and Experience:

• Bachelor’s degree in finance, Accounting, Business Management or related field.
• 5+ years of related experience required, preferably within the Public Housing and/or Real Estate industries.
• MBA/CMA preferred.

Working Conditions:

Works in an office environment. May require frequent bending, stooping, reaching and prolonged sitting and/or standing. May require regular lifting usually not exceeding 15 lbs. Occasional travel may be required.