Real Estate Controller

Job Title: Real Estate Controller
Location: New York City
Job Type: Full-Time, Permanent
Salary: $150,000 - $175,000

Position Overview:

As the Real Estate Controller, you will play a key role in overseeing the financial operations of a vertically integrated real estate company. You will be responsible for managing all accounting activities, financial reporting, budgeting, and internal control processes. This position requires a deep understanding of real estate accounting principles, strong expertise in MRI and Excel, and the ability to lead and collaborate effectively with the accounting team.

Key Responsibilities:

Financial Reporting:

• Prepare accurate weekly and monthly financial reports, including balance sheets, income statements, and cash flow statements.
• Review capital expenditure (CapEx) budgets and monitor their adherence.
• Compile funding statements and ensure financial reporting is in line with GAAP and regulatory requirements.
• Analyze financial results, identifying trends, variances, and areas for potential improvement.

Budgeting & Forecasting:

• Develop and manage financial budgets, ensuring alignment with organizational goals.
• Monitor budget performance, providing regular updates and recommendations to management.
• Prepare financial forecasts that aid in strategic decision-making and long-term planning.

Cash Flow & Liquidity Management:

• Oversee cash flow management to ensure the organization can meet operational and debt obligations.
• Implement policies and procedures to optimize cash management.
• Monitor banking activities and manage reconciliation of bank accounts.

Accounts Payable & Receivable:

• Supervise the accounts payable and receivable functions, ensuring timely and accurate processing of invoices, vendor payments, and tenant billing.
• Ensure that all transactions are accurately recorded in MRI software.

Property & CapEx Accounting:

• Maintain accurate property-level accounting records and general ledgers.
• Review property financials regularly to ensure accuracy and completeness.
• Work closely with property managers to resolve accounting-related issues and discrepancies.

Internal Controls & Compliance:

• Establish robust internal control procedures to safeguard company assets and ensure compliance with relevant policies and regulations.
• Coordinate audits and review activities with external auditors.
• Implement recommendations to improve internal controls and overall operational efficiency.

MRI System Management:

• Serve as the primary point of contact for MRI system management, including configuring system settings, user permissions, and reporting templates.
• Provide ongoing training and support to staff on MRI functionality and best practices.

Team Leadership & Development:

• Lead and mentor the accounting team, providing guidance to promote professional growth.
• Foster a collaborative, high-performance work environment that encourages teamwork and accountability.
• Conduct performance evaluations and provide actionable feedback to maintain a high standard of work.

Qualifications:

• Bachelor’s degree in Accounting, Finance, or a related field; CPA or equivalent certification is a plus.
• At least 7 years of experience in real estate accounting, with a background in Big Four accounting firms preferred.
• Proficiency in MRI or similar property management accounting software is required.
• Strong knowledge of GAAP and real estate industry-specific accounting standards.
• Exceptional analytical, problem-solving, and decision-making abilities.
• High attention to detail and accuracy, with the ability to prioritize tasks in a fast-paced environment.
• Strong communication and interpersonal skills, with the ability to collaborate effectively across teams.
• Proven leadership abilities and experience in building and motivating high-performing teams.

Additional Information:

• Working Hours: Monday - Friday, 40 hours per week
• Location: On-site, New York City
• Salary: $150,000 - $175,000
• Start Date: ASAP