Assistant Controller, The Wharf

Washington, DC
May 16, 2018
May 21, 2018
Accountant, IT
Full Time
Job Title: Assistant Controller, The Wharf GENERAL SUMMARY: Reporting to the VP of Accounting and SVP of Project Management of the Wharf, the Assistant Controller will work to ensure the accurate and timely day-to-day, monthly, quarterly, and annual accounting and reporting for a consolidated group of entities under the Wharf Joint Venture. OVERALL RESPONSIBILITIES Accounting and financial reporting Prepares monthly, quarterly and annual reporting to project team and investors on a consolidated and project level basis in accordance with US GAAP Reviews and approves financial statements provided by 3rd party manager Prepares analysis of actual versus budget of project level costs Prepares ad-hoc financial reports for development team and investors Prepares loan reporting and covenant compliance reporting Ensures all accounts are properly substantiated and reconciled on a regular basis Ensures that all inter-company transactions are processed in accordance with the legal structure and are fully reconciled on a monthly basis. Prepares partnership waterfall calculations Performs transaction (acquisition/disposition) accounting Assists with appraisal/valuation process and reporting Ensures fixed asset register is maintained and accurate Calculates developer/asset management fees Accounting Operations Manages accounts payable, accounts receivable/billing processes Manages job cost coding and reporting Tax Administration & Compliance Coordinate preparation of federal, state and local tax returns, including preparation of supporting schedules Manage external tax accountant and REIT advisor Identifies tax savings opportunities Work with external preparer to produce K1s to partners Ensure compliance with REIT regulations for all relevant entities that make up the investment. Work closely with parent company on group tax issues and filing of quarterly tax estimates. Maintain inside/outside tax basis calculations of properties Monitor sales and use tax compliance Structure legal entities in a REIT compliant manner Manage exposure to ECI income Tax Administration & Compliance (continued) Monitor and report compliance with REIT regulations Monitors and reports tax leakage in structure Source preferred shareholders Administer preferred shareholder dividend payments Administer preferred shareholder stock registers Financial systems and processes Design and control of financial reporting systems Design and maintains project chart of accounts Establishes access and use controls Ensures integration of multiple accounting and operational systems Ensure appropriate systems infrastructure is in place Functional expert on finance systems - MRI, Timberline, BNA, and Nexus Payables Training & user support User administration - access control System and process integration Manage external service providers and associated cost Report writing and report database maintenance Internal control Develop and maintain financial policies and procedures for the project Implements and monitors an effective internal control environment over all aspects of project at all times Monitors compliance with project organization documents (partnership agreements, developer agreements) Ensures financial risks are monitored and reported Together with management, develop delegation of authority for all entities and establish compliance mechanisms Cash management Monitors and reports cash balances Prepares monthly cash flow forecasts Prepares capital call and distribution notices for subsidiaries and investors Financial Planning and Analysis Supports budget and reforecast process Prepares and maintains tax basis financial return model Treasury Monitor bank account balances for efficient use of cash Serves as system administrator for treasury management system Negotiates and manages letters of credit Maintains relationship with bank Bank Account set up and maintenance Audit Manage annual audit process, ensuring timely completion Negotiate fees Ensure audit schedules are prepared in a timely manner Write disclosures and research new pronouncements and their effects on Wharf accounting Coordinate implementation of auditor's recommendations Personnel Manage a team of 8 personnel Training and staff development Insurance Servicing, review, and approval of property insurance, corporate GL and EOO policies Premium allocations Claim management Broker management Corporate Affairs Work with outside advisors in preparing regulatory filings Collect minutes of meetings Prepare directors resolutions Maintain entity good standing Maintain corporate register Administer documentation retention policy Establish systems and processes to safeguard data and documents pertaining to the project SKILLS REQUIRED Highly proficient in MS Word and Excel Possess strong interpersonal and organizational skills with the ability to multi-task and prioritize Effective leadership abilities Proactive problem solver with ability to work independently to achieve results Excellent verbal and written communications skills Meticulous attention to detail and accuracy Ability to identify opportunities for process and system improvements and implement solutions Be self-motivated, dependable, responsible, flexible and professional Understanding of automated accounting systems (Experience with MRI is highly preferred) EDUCATION and/or EXPERIENCE 10+ years of relevant experience, private equity, real estate development, and real estate operations experience preferred Degree in accounting or finance required 2+ years of public accounting experience preferred CPA certification and consolidation experience highly preferred Strong knowledge of accounting principles, practices and procedures PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Sitting: 80% Standing: 10% Walking: 10% Lifting: up to 25 lbs. Apply Here: PI102341762

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