Property Management Controller

PRIMARY OBJECTIVES:

The Property Management Controller oversees all financial operations of the property management company, including accounting, financial reporting, budgeting, cash management and internal controls. The Controller will work closely with property managers, the finance team, and senior management to ensure timely accurate financial information and support strategic decision making.

KEY RESPONSIBILITIES:

Financial Management:

• Oversee the preparation of accurate and timely financial statements for all managed properties and the property management operating entity.
• Manage the month-end and year-end closing processes, ensuring all transactions are recorded accurately and in a timely manner.
• Supervise all facets of the property management accounting department, including accounts payable, accounts receivable, general ledger, budgeting and financial reporting.
• Oversee monthly variance analysis, including explanations for deviations from budgeted amounts for all managed properties and the property management operating entity.
• Monitor and analyze financial data to identify trends, variances, and areas for improvement.
• Coordinate with other departments to ensure accurate and timely financial information is provided.
• Manage and/or participate on special projects and corporate initiatives, as assigned.

Budgeting and Forecasting:

• Assist in the development and management of annual budgets for each property, in collaboration with the regional property managers, and the operating entity.
• Monitor and report on budget performance, making adjustments as necessary.
• Assist in preparing long-term financial forecasts and models to support strategic planning.
• Prepare and maintain financial forecasts, including cash flow projections, to support the company’s strategic plan.
• Establish key performance benchmarks and monitoring and maintaining ongoing performance against established metrics.

Cash Management:

• Monitor and manage cash flow to ensure sufficient liquidity for operations and optimizing returns on investment while monitoring risk.
• Monitor bank account activity.
• Implement and maintain internal controls to safeguard company assets.
• Monitor the timely monthly and quarterly distributions to investors in adherence to the Operating and Management Agreements.

Internal Controls and Compliance:

• Develop and maintain internal controls to safeguard company assets and ensure the accuracy of financial records.
• Ensure compliance with accounting principles, standards, and regulatory requirements, including GAAP, lender, grant agreements and industry-specific guidelines.
• Institute and maintain standard policies, procedures, internal controls, and processes that influence efficient and effective business processes.
• Ensure compliance with federal, state and local tax regulations and property management laws.
• Manage external auditors and accountants ensuring necessary documentation and explanations are provided in a timely manner.

Team Leadership and Development:

• Lead and manage the property management accounting team, providing leadership, guidance, training and mentorship fostering a culture of growth, collaboration, and excellence.
• Conduct regular performance reviews, set goals, and provide feedback to team members.
• Foster a collaborative and positive work environment, promoting continuous improvement and professional development.
• Provide training and guidance to the property management team, ensuring they understand and adhere to accounting policies and procedures.

EDUCATION:

• Bachelor degree in accounting, finance, or a related field