Director, Accounting
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Full-time
USD75.4K - 100K/year
~COP150M - 200M/year
+ Equity
+ Bonuses
Posted about 3 years ago
Responsibilities
Massachusetts-based WS Development is a mixed-use developer with a singular mission: creating places people want to be. With an approach that values art, science, innovation and, above all else, people, WS strives to engage each community it serves with best-in-class installations and activations. Established in 1990, WS is a vertically integrated company that conceptualizes, owns, operates and leases more than 100 properties that range from cutting-edge urban spaces to lifestyle and community centers. With over 22 million square feet of existing space and an additional nine million square feet under development, it is one of the largest privately-owned development firms in the country.
Responsible for directing the company’s property accounting functions including establishing and maintaining accounting principles, practices, procedures, initiatives and industry best practices. Review financial reports, presents findings and makes recommendations to the company executives. Review and analysis of tax returns and compliance reports. Supervise and coordinate all audit and reporting requirements. Responsible for reviewing all budgeting and reforecasting for a portfolio of properties. Directs cash management at each property to ensure that distributions are made strategically based on what is happening at each property and determining when capital calls are needed. Responsible for review of debt compliance in accordance with loan documents. Supervise and mentor staff. Provide ongoing feedback to ensure all associates have a clear understanding of performance.
Responsibilities:
- Oversee a portfolio of properties, directly supervising Senior Managers, Managers, Senior Property Accountants and Property Accountants.
- Ability to manage a large team of direct reports.
- Work directly with Investment Managers, who oversee all aspects of properties, on asset health, investor and lender reporting and analysis, and providing data and insight over day-to-day operating decisions.
- Oversee, monthly, quarterly and year end closings for properties in accordance with GAAP, tax basis and cash basis accounting procedures.
- Ensures accounting systems and process controls are following company standards and best practices.
- Propose enhancements to controls where needed.
- Review and analysis of annual operating expenses.
- Responsible for managing and ensuring that all tenant billings including CAM, RET, and general billback are performed accurately and timely.
- Review and analysis of budgets prepared by accounting and cross functional team members.
- Work with the independent CPA firm to produce Audited Financials for entities as required.
- Provide required support for year-end audit or other financial inquiries.
- Review compliance with loan agreements that include debt covenant compliance, debt yield and debt service coverage tests and all other ongoing monitoring of the loans.
- Review all loan draws provided to the lenders.
- Oversee the cash management for each property that will include distributions, capital calls and investment of excess cash in certain investments (sweeps, money markets, etc.).
- Be an integral member of efficiency and other projects that the company/department will undertake.
- Lead certain initiatives where you can lend your expertise to effect change.
- Review REIT compliance and planning related to this.