What are the responsibilities and job description for the Commercial Accountant position at Oldham Goodwin Group, LLC?
The Oldham Goodwin Commercial Accountant is responsible for providing in-depth financial analysis, budgeting, forecasting, and cash flow management to support the performance of a commercial property portfolio. This role requires expertise in financial reporting, budget oversight, and the management of Commercial Mortgage-Backed Securities (CMBS) loans. The Financial Analyst works closely with property managers and senior leadership to ensure accurate financial insights, compliance, and strategic financial planning to drive portfolio growth and operational efficiency.
Reports To: Director of Operations
Overview: The Commercial Accountant role is critical in providing comprehensive financial oversight and strategic insight to support the success of the commercial property portfolio. This position requires a detail-oriented, proactive individual with a strong financial acumen and the ability to communicate effectively with property managers and senior leadership.
Responsibilities/Duties:
1. Budget Oversight and Management
o Develop, maintain, and monitor annual budgets for assigned commercial properties.
o Collaborate with property managers to ensure budgets align with property goals and owner expectations.
o Regularly review budget variances and provide explanations and corrective recommendations as needed.
2. Cash Flow Projections and Forecasting
o Prepare detailed cash flow projections to ensure positive liquidity and optimal financial planning.
o Conduct periodic financial forecasting to provide insights into property performance and support long-term financial strategy.
3. Monthly Financial Reporting
o Oversee and review monthly financial reports, ensuring accuracy and completeness of all financial data.
o Prepare financial analysis and variance explanations to help property managers and senior leadership make informed decisions.
o Provide insights and recommendations based on monthly financial performance.
4. CMBS Loan Management
o Monitor and ensure compliance with all requirements for Commercial Mortgage-Backed Securities (CMBS) loans within the property portfolio.
o Prepare and submit required financial reports and documentation to CMBS loan servicers on a timely basis.
o Coordinate with property managers to ensure loan covenants are met, including debt coverage ratios, reserve requirements, and reporting timelines.
5. NNN Reconciliations
o Oversee and perform triple-net (NNN) reconciliations, ensuring tenants are accurately billed for their share of property expenses.
o Review and confirm NNN reconciliation calculations with property managers, addressing any discrepancies and ensuring compliance with lease terms.
6. Financial Analysis and Reporting
o Conduct property-level financial analysis to assess key performance indicators, identify trends, and support decision-making.
o Provide regular reporting on financial metrics, including occupancy costs, lease renewals, and capital expenditures.
o Prepare and present financial analysis reports to senior management and property owners as required.
7. Financial Compliance and Audit Support
o Ensure financial reporting compliance with company policies, industry standards, and property management agreements.
o Assist in internal and external audits by preparing and submitting required financial documentation and explanations.
8. Collaboration with Property Management Team
o Work closely with property managers to support financial decision-making and drive effective cost management.
o Provide financial training and guidance to property managers, ensuring they understand and can interpret financial reports.
9. Additional Duties
o Perform other financial analysis, reporting, or budgeting duties as assigned by senior leadership to support departmental and portfolio objectives.
Work Hours: Full time hours- salaried position.
Qualifications:
o Bachelor’s degree in Finance, Accounting, Real Estate, or a related field.
o 3-5 years of experience in financial analysis, preferably within commercial real estate or property management.
o Proficiency in financial modeling, budgeting, and forecasting.
o Strong understanding of CMBS loans, NNN reconciliations, and property management accounting principles.
o Advanced knowledge of financial reporting software and property management systems.
o Excellent analytical, communication, and organizational skills.
o Ability to manage multiple priorities and meet deadlines in a fast-paced environment.
o Ability to handle multiple properties and prioritize tasks in a fast-paced environment.
o Comprehensive understanding of property management agreements, tenant relations, and compliance standards.
Job Type: Full-time
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Schedule:
- Day shift
Work Location: In person
