Staff Accountant II - Property Operations

We Are Norfolk Redevelopment and Housing Authority

NRHA’s Vision and Mission

We are proud to be the largest housing and redevelopment authority in Virginia and a leader in real estate development and property management across the country. Since 1940, we’ve been working to revitalize and improve neighborhoods in Norfolk. 

As an award-winning public housing authority designated by the Department of Housing and Urban Development (HUD), the NRHA VISION is to provide quality housing choices in neighborhoods where people want to live. Our MISSION is to provide quality housing opportunities that create sustainable, mixed-income communities.

Today, our dedicated team continues focusing on our vision and mission by providing exceptional service to residents, vendors, development partners, and community stakeholders through programs that support the development and sustainability of affordable housing and offering programs that support the goal of self-sufficiency for all residents of Norfolk, Virginia. 

Position Summary 

The Property Operations Staff Accountant is responsible for performing a full range of accounting duties requiring independent judgement, technical accuracy, and analytical skill. This includes financial management, reporting, and accounting of Norfolk Redevelopment and Housing Authority’s (NRHA) real estate portfolio, comprised of public housing, affordable housing, mixed-income developments, commercial properties, and other real estate assets. This position plays a key role in maintaining the financial integrity of NRHA by ensuring compliance with Generally Accepted Accounting Principles (GAAP), HUD regulations, and internal control policies. This position works closely with Property Management, Portfolio Analyst, Development, Budget and Finance staff to ensure accurate financial reporting, regulatory compliance, and sound financial operations that support the long-term sustainability of NRHA’s real estate portfolio. 

Essential Functions

Property Financial Management: Maintain the general ledger for assigned properties and real estate entities; prepare monthly property financial statements, including balance sheets, income statements, and cash flow reports; reconcile all balance sheet accounts, bank accounts, and intercompany accounts; record monthly journal entries and accruals; monitor property operating expenses and revenues for accuracy; review property financial performance against approved budgets; assist with cash management and reserve account monitoring; ensure proper accounting treatment for capital expenditures versus operating expenses.

Budgeting & Forecasting: Assist in preparing annual operating budgets for all assigned properties; prepare monthly budget variance analyses and explain significant variances; develop financial forecasts throughout the fiscal year; monitor operating reserves and replacement reserves; assist Asset Management with long-term financial planning.

Regulatory & Compliance Accounting: Ensure compliance with HUD, Low-Income Housing Tax Credit (LIHTC), RAD, and other federal, state, and local financial reporting requirements; prepare financial information for HUD reporting; maintain accounting records in accordance with Generally Accepted Accounting Principles (GAAP); assist with annual audits and regulatory reviews; prepare schedules supporting annual financial audits.

Internal Controls: Ensure compliance with Authority financial policies and procedures: maintain proper segregation of duties; recommend improvements to accounting processes; assist in developing standard operating procedures.

Reporting: Prepare monthly financial statements; budget variance reports; cash flow reports; reserve account activity; bank reconciliation report; and maintain confidentiality of sensitive financial, personnel, and organizational information.

Perform other related financial and administrative duties as required to support departmental and agency objectives. 

Performance Standards

• Maintain accurate financial records, prepare journal entries, and reconcile accounts in compliance with GAAP. 
• Timely preparation of monthly, quarterly, and annual financial statements with minimal errors. 
• Monitor expenditures to ensure alignment with HUD and grant requirements; support fund reporting and cost allocation. 
• Provide accurate and complete documentation for audits; assist in resolving audit findings promptly. 
• Enter and manage data in financial software (e.g., Yardi, Excel) efficiently and with precision. 
• Support the year-end closing process through accurate reconciliations and timely reporting. 
• Follow established financial policies and ensure compliance with internal controls. 
• Communicate effectively with finance staff.
• Balance multiple priorities, meet deadlines, and deliver consistently high-quality work. 
• Maintain strict confidentiality and uphold NRHA's ethical standards in all financial activities. 

Minimum Qualifications

Staff Accountant II

Bachelor's degree in Accounting, Finance, or a closely related field. Three to five years of progressively responsible accounting experience. Experience with multifamily property operations accounting preferred. Experience with affordable housing, governmental accounting, or nonprofit accounting is highly desirable. Equivalent combinations of education and experience may be considered.

Staff Accountant III

Bachelor's degree in Accounting, Finance, or a closely related field. Five or more years of progressively responsible accounting experience. Experience with multifamily property operations accounting preferred. Experience with affordable housing, governmental accounting, or nonprofit accounting is highly desirable. Equivalent combinations of education and experience may be considered.

Preferred Qualifications

Experience with LIHTC properties. Experience with HUD programs and public housing finance. Experience with ERP accounting software such as Yardi, RealPage, Elite, or comparable financial systems. 

Special Requirements 

• Must possess a valid driver’s license.
• Subject to a background check and reference verification prior to hire.
• Must maintain confidentiality and adhere to NRHA’s code of conduct and ethics policies.

Knowledge, Skills, and Abilities  

• Intermediate to advanced understanding of Generally Accepted Accounting Principles (GAAP), fund accounting, and financial reporting requirements. 
• Knowledge of HUD financial management and reporting procedures, including Public Housing, Housing Choice Voucher (HCV), and other federal grant programs. 
• Knowledge of concepts, principles and practices of LIHTC.
• Understanding of cost allocation methodologies, restricted funds, and multi-fund accounting. 
• Familiarity with federal and state regulatory compliance in a public-sector or nonprofit finance environment. 
• Knowledge of internal control frameworks and audit procedures. 
• Proficiency in accounting software systems (Yardi, Emphasys, or comparable ERP systems). 
• Advanced Microsoft Excel skills, including data analysis tools, formulas, and pivot tables. 
• Strong analytical and quantitative problem-solving skills with the ability to identify and resolve discrepancies. 
• Excellent written and verbal communication skills to prepare clear financial reports and explain complex financial data. 
• Strong organizational skills with the ability to manage multiple priorities and meet deadlines. 
• Ability to apply accounting principles to complex financial transactions with minimal supervision. 
• Ability to interpret and apply HUD and other funding agency financial guidelines. 
• Ability to work effectively in a collaborative team environment and provide training to others. 
• Ability to maintain confidentiality, integrity, and professionalism in all financial matters. 
• Ability to adapt to evolving technologies, financial systems, and regulatory requirements. 
• Ability to work independently and exercise sound judgment when handling sensitive financial information. 

Physical Requirements

While performing the duties of this job, the employee is frequently required to sit, talk, see, or hear. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 20 pounds. Job requires depth, color, and texture perception.

NRHA will consider equivalent substitutes for education and/or experience, provided that the candidate can demonstrate that he/she has obtained the knowledge and skill necessary to perform the duties of the job.

NRHA offers a competitive compensation and benefits package. The compensation offer will be determined by the candidate's work history and skill set. Benefits include VRS retirement, medical, dental, and vision insurance; life insurance; long-and short-term disability insurance; tuition reimbursement options; public service loan forgiveness, and much more.

Drug Free Workplace: NRHA maintains a drug free workplace.

VRS Contribution: All full-time employees are required to contribute 5% of annual salary toward their retirement account; in accordance with VRS retirement provisions. This will be handled through a pre-tax payroll deduction. 

The Norfolk Redevelopment and Housing Authority is an Equal Opportunity Employer. We are committed to providing equal employment opportunities to all qualified applicants and employees without regard to race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, genetic information, veteran status, or any other protected status under applicable federal, state, or local law. We value diversity and encourage individuals from all backgrounds to apply.