Construction & Development Accountant

Responsibilities

• Develops and recommends financial controls and project accounting procedures aligned with organizational objectives.
• Identifies project financial risks, cost overruns, and discrepancies that require corrective action.
• Evaluates construction pay applications and financial documentation independently.
• Serves as a key liaison among developers, contractors, architects, lenders, consultants, and accounting teams.
• Communicates project financial status and risk exposure to management and stakeholders.
• Coordinates the activities of project accountants, consultants, or external reviewers.
• Supports process improvements and training related to construction accounting and draw administration.
• Reviews and validates construction pay applications against the approved Schedule of Values (SOV).
• Confirms costs are billed to the appropriate budget and contract categories.
• Identifies and prevents front-loading or overbilling of project costs.
• Verifies percentage completion through review of prior pay applications, progress reports, site inspection reports, and third-party validations.
• Collaborates with owners' representatives, architects, inspectors, lender consultants, and project controls personnel to validate construction progress.
• Reviews and collects partial lien waivers and releases from contractors, subcontractors, and suppliers.
• Ensures prior payments have been properly disbursed to subcontractors and vendors.
• Protects the developer from mechanic’s lien exposure through proper documentation and compliance.
• Calculates and verifies retainage withholding in accordance with contractual requirements.
• Performs arithmetic validation of pay applications, including formulas, totals, prior payments, and remaining balances.
• Reviews supporting documentation, including subcontractor invoices, payroll reports, schedules, and construction backup.
• Tracks project budgets against actual expenditures and identifies potential cost overruns or financial risks.
• Maintains oversight of project burn rates and flags signs of financial stress or budget deviations.
• Coordinates architect certifications and lender inspection approvals for draw requests.
• Ensures compliance with lender draw requirements, loan covenants, and contingency tracking.
• Collaborates with internal accounting and finance teams on project funding and cash flow management.
• Approves finalized draw packages for funding authorization and payment processing.
• Prepares project financial reports and communicates risk exposure to management.
• Performs other related duties as assigned.

Qualifications

• Strong knowledge of construction accounting, project budgeting, and draw administration.
• Strong analytical and reconciliation skills.
• Knowledge of construction contracts, lien waiver processes, and change order management.
• Understanding of construction lending and draw compliance requirements.
• Strong written and verbal communication skills.
• Strong organizational and time management skills.
• Proficiency in Microsoft Office Suite, particularly Excel.
• Experience with ERP systems, project accounting systems, or construction accounting software preferred.

Education

• Bachelor’s degree in Accounting, Finance, Construction Management, or a related field required.

Experience

• 5+ years of experience in construction accounting, project accounting, real estate development, or related financial operations.
• Experience reviewing construction draws, pay applications, and project budgets preferred.

Preferred Qualifications

• Certified Public Accountant (CPA) or related certification preferred.
• Experience working with construction lenders, developers, or commercial real estate organizations.
• Knowledge of AIA G702/G703 forms and construction draw processes preferred.