Senior Real Estate Development Accountant (52080)

Essential Duties And Responsibilities

• Participate in Housing Development project meetings to provide financial updates, assess risk, and support business decision-making.
• Review proposals and contracts for fiscal responsibility, completeness, and consistency with standardized billing and documentation requirements.
• Prepare budget-to-actual analyses and variance reports for internal leadership and external partners.
• Carefully interface with syndicators, lenders, and housing agencies to respond to financial inquiries.
• Maintain and update detailed development and construction budgets.
• Establish and maintain project controls in Yardi, including job cost budgets, contracts, sources and uses, and expense tracking.
• Review and code development and construction transactions in Yardi to ensure accurate cost allocation.
• Prepare Anticipated Cost Reports, cash flow projections, and other financial analyses.
• Identify and reconcile intercompany transactions, including due to/due from (DTDF) accounts.
• Support monthly close and annual audit processes related to the development pipeline.
• Lead end-to-end construction loan draw processes across multiple projects.
• Prepare, review, and submit draw packages to lenders, investors, and public agencies.
• Coordinate supporting documentation, including pay applications, lien waivers, title reports, inspection reports, and cost backup.
• Track sources and uses of funds to ensure alignment with approved budgets and financing requirements.
• Monitor contingency usage and exposure.
• Coordinate with vendors and project managers to ensure invoices align with contracts, change orders, and approved budgets.
• Reconcile draws across Yardi job cost, general ledger, bank statements, and external lender tracking.
• Monitor draw schedules to ensure timely reimbursement of project expenditures.
• Approve invoices and coordinate with Accounts Payable on vendor setup and payments.
• Serve as a key cross-functional liaison on development finance, including cash management, funding timelines, and compliance.
• Partner with Finance, IT, and external consultants to enhance accounting systems and processes (including Yardi optimization).
• Support the development and enforcement of standard operating procedures for housing finance activities.
• Recommend and implement improvements to internal controls and accounting processes.
• Support Asset Management with financial tracking, including REO reporting, contingent liabilities, and operating budgets.
• Assist with tax filings and reporting for affiliated entities.

Development, Construction Financial Oversight, and Leadership

• Participate in Housing Development project meetings to provide financial updates, assess risk, and support business decision-making.
• Review proposals and contracts for fiscal responsibility, completeness, and consistency with standardized billing and documentation requirements.
• Interface with syndicators, lenders, and housing agencies to respond to financial inquiries.

Development, Construction Budget Maintenance, and Reporting

• Maintain and update detailed development and construction budgets.
• Establish and maintain project controls in Yardi, including job cost budgets, contracts, sources and uses, and expense tracking.
• Review and code development and construction transactions in Yardi to ensure accurate cost allocation.
• Prepare Anticipated Cost Reports, cash flow projections, and other financial analyses.
• Identify and reconcile intercompany transactions, including due to/due from (DTDF) accounts.
• Support monthly close and annual audit processes related to the development pipeline.

Construction Loan Draw Management

• Lead end-to-end construction loan draw processes across multiple projects.
• Prepare, review, and submit draw packages to lenders, investors, and public agencies.
• Coordinate supporting documentation, including pay applications, lien waivers, title reports, inspection reports, and cost backup.
• Track sources and uses of funds to ensure alignment with approved budgets and financing requirements.
• Monitor contingency usage and exposure.
• Coordinate with vendors and project managers to ensure invoices align with contracts, change orders, and approved budgets.
• Reconcile draws across Yardi job cost, general ledger, bank statements, and external lender tracking.
• Monitor draw schedules to ensure timely reimbursement of project expenditures.
• Approve invoices and coordinate with Accounts Payable on vendor setup and payments.

Finance Operations

• Serve as a key cross-functional liaison on development finance, including cash management, funding timelines, and compliance.
• Partner with Finance, IT, and external consultants to enhance accounting systems and processes (including Yardi optimization).
• Support the development and enforcement of standard operating procedures for housing finance activities.
• Recommend and implement improvements to internal controls and accounting processes.
• Support Asset Management with financial tracking, including REO reporting, contingent liabilities, and operating budgets.
• Assist with tax filings and reporting for affiliated entities.

COMPETENCIES

• Financial analysis & reporting
• Construction cost management
• Regulatory compliance
• Cross-functional collaboration
• Process improvement
• Risk identification & mitigation
• Strong understanding of GAAP and internal controls
• Excellent organizational skills with high attention to detail
• Strong communication skills with the ability to collaborate across departments and with external partners

EDUCATION AND EXPERIENCE

• Bachelor’s degree in Accounting, Finance, or related field (CPA preferred).
• 5–8+ years of accounting experience in real estate development, with a strong focus on affordable housing.
• Demonstrated experience managing construction loan draws and development budgets.
• Strong knowledge of LIHTC and other affordable housing funding structures.
• Advanced proficiency in Yardi (job cost, payscan, general ledger analytics, etc.).
• Advanced Excel skills (pivot tables, lookups, financial modeling, budget tracking).