The Financial Manager position provides support to the Property Management team and acts as a liaison between Corporate Accounting and local Property Management teams. Day-to-day activities include monitoring the financial performance of the assets, budgeting, forecasting, and reporting. Depending upon the portfolio needs, this position may have supervisory responsibility.
RESPONSIBILITIES
- Review and approve monthly accruals, AR reviews, CAPEX Distributions, AR batches, monthly rent-ups, and commercial billings.
- Review and approve lease abstracts/profiles and enter OPEX recovery set ups in accounting system-Lease Administration
- Review and finalize monthly variance reports and rent roll reconciliation.
- Review GL for consistency and accuracy and submit reclass entries.
- Review and reconcile tenant security deposit ledgers.
- Address CAM reconciliation inquiries from tenants
- Overseeing process for tenant audits.
- Complete annual budgets, reforecasts and OPE reconciliations.
- Address client questions concerning budgets, financials, CAM recoveries and provide custom reports as per client requests.
- Prepare complex tenant account ledger reconciliations to assist the property management team in collection efforts.
- Provide back-up support to Property Manager for invoice approvals.
- Coordinate and assist Accountants in final settlements with Seller/Buyer in property transitions.
- Research and handle accounting related issues/questions from internal Accountants as well as Clients
- Follow and ensure team SOC I compliance for applicable assets.
- Provide accounting software related mentoring, training, and support to the Property Management team.
- Special Projects/Tasks: may be assigned to assist with special projects for the assigned portfolio.
- Problem Solving: Complex items are handled with supervision/guidance (Ex. TI Overages, Complex Termination Fee calculations, complicated billbacks, etc.).
- Ownership: Be proactive throughout the month; ensure that any unique transactions/situations on your team are resolved throughout the month. Ensure that all internal/external deadlines are being met by team members that you supervise.
- Teamwork: helps solve problems, finds efficiencies, shares knowledge, and actively seeks opportunities to help.
- Takes responsibility for their assigned tasks/portfolio; others do not have to step into complete tasks. Self-motivated and does not need to be assisted and/or directed to complete responsibilities.
- Financial Reporting: Must have a good understanding of the clients’ financial reporting process including accruals, general ledger reviews, leasing reports, executive summary reports, and variances reports.
- Financial Reporting: Ability to complete all aspects of clients required financial reporting.
- Budgets: Understanding of variances effect on property cash flow and tenant estimated billings.
- Insurance - ability to determine if vendor insurance certificate meets client requirements. Track and maintain current COI for all vendors utilized at property.
- Insurance - understand insurance requirements per tenant lease and review certificate to ensure tenant insurance is in compliance with lease. Track and maintain current COI for all tenants within assigned portfolio.
- Leases - understands lease types (NNN, Base Year/Expense Stop, Commencement Date, Rent Start Date, etc.). Review basic lease information to agree to system lease report (dates, amounts, etc.).
- Leases - review the leases thoroughly for TI and landlord (LL) capital requirements, Caps/Gross Ups, options, lease termination fee options/calculation information, etc.
- Systems (MRI / Yardi, AVID, Kardin, IMPAK, RMIS, etc.) - read training materials, attend training. Become proficient in the systems utilized to perform job functions effectively.
- Transitions: some exposure to property transitions (sales, purchases, management change) with supervision and guidance.
- Accounts Receivable (A/R): Effectively manage AR within portfolio; process tenant billbacks, submit late letters, default notices and complete lockouts. Work with tenants to collect outstanding balances.
- Accounts Payable (A/P): Ensure all vendors are paid in a timely manner.
- Deadlines: Utilize calendar, trackers, checklists, etc. to ensure that all tasks are completed in a timely manner to meet all internal and external deadlines. Stay ahead of deadlines to avoid missing deadlines. If and/when deadlines are missed, communicate, and establish a new game plan with the supervisor, and with the accounting team, if applicable.
- Communicates deadlines, expectations, issues, etc. in a timely and effective manner. Seeks assistance from supervisor when prudent.
- SOC Compliance: Ensure SOC compliance when reviewing and/or preparing all transactions.