Accounting, Auditing, Bookkeeping, Administrative, Clerical, Support Services, Real Estate
4 Year Degree
Financial Planning & Analysis
Reconcile project costs to the general ledger.
Work with Development Managers or 3rd party development partners to obtain information to book monthly draw accruals.
Review payables to ensure accuracy of accounting.
Prepare journal entries for month-end accruals.
Provide month-over-month variance report for project costs.
Prepare project cashflow forecasts, updating monthly for changes in estimates and schedules based on information provided by other functional teams.
Financial & Regulatory Reporting
Prepare journal entries for non-recurring and significant transactions pertaining to development projects.
Prepare standalone and consolidated financial statements required for various stakeholder groups and effectively present these reports to executive leaders and development staff.
Assist with preparation of working papers for annual financial statement reviews and audits.
Ensure Banneker’s accounting policies are appropriately applied to new development projects.
Review closing documents, including closing statements, and record in accordance with GAAP.
Respond to financial related inquiries to investors, banks, development managers and officers, and internal departments.
Main the promote/participation schedules making sure the calculations adhere to the specific project agreement.
Management Reporting and Performance Measurement
Assemble financial reports for inclusion in development reporting package.
Complete “post-mortem” financial analysis of completed projects, documenting accounting lessons learned from projects that can be applied to future projects.
Review and enhance the existing system of controls and financial reporting for development projects.
Assist in annual reviews/audits and tax return preparation.
Prepare regular personal property returns and other compliance documents and timely submit to lenders, investors and regulatory agencies.
Manage cash and process payments for funded development projects.
Prepare documents needed to open bank accounts for new development projects.
Prepare bank reconciliation, balance sheet and income statement review, and budget analysis.
Facilitate and interact with internal and external auditors and tax preparers as needed.
Ensure real estate taxes, insurance, distributions, and other time sensitive payments are made in a timely and accurate manner.
Participate as a member of a growing organization, support new initiatives, cooperate and adapt to changes and processes.
Work with Development Managers and Asset Managers as projects near completion to develop accurate and updated operating budgets for projects.
Verify, review and analyze property general ledgers on both cash and accrual basis ensuring accuracy and adherence to established accounting policies and procedures. Responsible for general and advanced accounting functions and for meeting the accounting department calendar deadlines.
Interact with internal and external customers, other accounting team members, asset managers, property managers and all necessary departments to ensure prompt resolution of issues and achieve maximum efficiency of operations.
Assist with special tasks and process improvements.
Must have at least 5 years of experience in Real Estate Development Accounting.
Ability to prioritize multiple tasks and be comfortable working within a fast-paced environment.
Low income housing tax credit experience a plus
A Bachelor’s degree in accounting.
Proficient in Microsoft Excel, Word and Quickbooks.
Ability to read and interpret development agreements, operating agreements, loan agreements and other appropriate agreements to ensure that project entities and guarantors are in compliance with all reporting requirements.
Additional Salary Information: Annual bonus and salary review
About Banneker Ventures
Banneker Ventures (and its affiliates) is seeking a Real Estate Development Accountant to join its Accounting Team. The Development Accountant is an integral member of the Accounting Team and will assist in the day-to-day accounting of low income housing tax credit, workforce housing, market rate and mixed-use projects. Key responsibilities will include preparing journal entries, preparing loan documents and other account reconciliations. Responsible for ensuring the accuracy of accounting forecasts for development projects. This position reports directly to the Corporate Controller. That being said, Banneker works collaboratively in a team structure and the Development Accountant will work closely with the other staff in the Accounting Department, Development staff, and the COO and CEO.