Assistant Controller of Development Accounting - Affordable Housing

McDowell Housing Partners is looking for an Assistant Controller of Development Accounting to join our growing team. The Assistant Controller of Development Accounting plays a pivotal role in the organization’s mission to provide high-quality affordable housing for families and seniors. This position leads all accounting efforts regarding the organization’s multifamily construction projects. The Assistant Controller of Development Accounting will report to the Chief Financial Officer and will work closely with the development, construction, and corporate accounting teams. 

Responsibilities

• Manage accounting functions through the entire development process from pre-development through cost certification, including monthly project financial reviews, monthly budget reconciliations and reallocations, debt and equity draws, closing draws, cost certifications, debt service reports, 50% tests, 10% tests and such other affordable housing development accounting tasks.
• Lead monthly calls with the accounting and development teams for the purpose of maintaining accurate financial models and finalizing monthly project performance reports.
• Coordinate with the Vice President of Finance, Accounts Payable, and Developers to maintain a current financial modelling of all projects in construction.
• Oversee project invoicing and budget management by utilizing Yardi Construction Manager software.
• Responsible for the overall maintenance and accurate reporting of the project development books and records. 
• Coordinate monthly project draws with internal Developers.
• Timely submission of draws to the lenders and investors.
• Coordinated closing and other project draws.
• Oversee the timely submission of invoice payments and disbursements.
• Manage the invoice payment and processing cycle.
• Coordinate all annual reporting of the projects on a GAAP basis to external auditors and tax preparers. 
• Adherence to an established closing schedule and timetables.
• Review Capitalized Interest, capitalized cost, and other depreciable cost schedules.
• Review and prepare reconciliations of Job Cost reports to submitted draws.
• Responsible for reviewing project reconciliations between corporate advances.
• Reconciliations of inter-company balances between projects and corporate.
• Consolidation of 3^rd party management company with our projects.
• Adjust books to reflect the ineligible cost incurred after issuing Cost Certifications.
• Help close out projects from a cost perspective.
• Coordinate and direct all development-related external accountant projects.
• Close out all development accounting functions and transition projects to stabilized operations after the completion of construction and property stabilization.
• Support and supervise development staff with any accounting functions required during the construction and permanent financing closing processes.
• Assist development and finance staff with any accounting or tax-related research required for the successful closing of projects.    

Qualifications

• A minimum of 5 years of experience in real estate development accounting.
• Prior Affordable Housing and LIHTC experience is REQUIRED.
• Experience in the Florida market is desirable.
• Requires a high-level of critical thinking, self-initiative and multi-tasking. 
• Must have the ability to multitask and meet deadlines in a fast-paced environment.
• Must be able to utilize creativity and resourcefulness to resolve issues that arise.
• Must be a team player with the ability to build and maintain relationships and rapport externally with financial partners, third-party consultants, government agencies and company staff.
• Must have proficiency with Microsoft Excel, Word, and Yardi with the ability to learn and implement new software and technologies quickly.
• A master’s degree or CPA license is preferred but a bachelor’s degree with experience in accounting is required.