What are the responsibilities and job description for the Director of Finance and Accounting position at Trek Development?
A downtown Pittsburgh based for-profit, real estate development and property management firm specializing in building, operating, and managing innovative and sustainable communities is seeking a talented Director of Finance and Accounting who can think strategically and operationally. Our group has gained regional and national recognition for creative, comprehensive approaches to development and transforming neglected spaces into vibrant communities. We maintain an active pipeline of development projects and a growing portfolio of self and 3rd party managed property. Our work is guided by the mission: to Create Value, Enhance Lives and Strengthen Communities.At TREK, we believe the right cultural fit is just as important as possessing the skills and qualifications for the job. Our core values: Aesthetics, Alignment, Collaboration, Compassion, Inclusiveness, Quality, Commitment, Empathy, Humility, Integrity and Responsibility are best described in our commitment to TREK’s Hospitality Covenant. The Hospitality Covenant describes our core practices that we strive to achieve each day:
- To treat everyone with the kindness we all want
- To do our own part to take care of the place where we live and work
- To take the time to help each other achieve our goals and aspirations
- Overall Management and Strategy:
- Creation, implementation, and maintenance of inter and intra departmental standard operating procedures (SOP’s) that improve financial controls, efficiency of operations and enhance the company value. Establishing and monitoring internal controls is essential.
- Oversee the activities of the department, comprised of three internal accountants and five third-party accountants, ensuring the accurate and timely processing of accounts payable, purchase orders, corporate cash management, accounts receivable, payroll and tax compliance.
- Analyze and accurately report financial performance of Development Group, Management Group, and individual properties. Development of short and long-term operational goals, budgets, and forecasts. Ability to take ownership of the accounting and financial management software, RealPage, ensuring system accuracy and efficiency.
- Development
- Evaluate new projects in collaboration with the Development Department (EVP and CEO).
- Development of closing budgets (capital and operating), oversight and management of complex construction/development draw schedules, assistance with real estate acquisition and loan/equity closing due diligence.
- Monitor status of governmental financial compliance issues during development.
- Track and ensure timely collection of development fees.
- Property Management
- Collaborate with the Property Management Department to develop annual budget goals.
- Create and publish monthly, quarterly and annual performance reports of properties in collaboration with the Property Management leadership to provide the necessary feedback for operating efficiency and real time course correction (or enhancement) to field personnel.
- Effectively monitor underperforming properties and make recommendations for corrective course of action to Property Management.
- Assistance with lease enforcement and CAM reconciliation/billing for commercial properties.
- Asset Management
- Analyze and monitor cash flow, fees, and incentives due to ownership, maximize waterfall opportunities.
- Coordinate with outside auditors and provide needed information for the annual external audits and other financial statements. (Current portfolio is comprised of 39 distinct entities containing 1,200 residences and commercial space).
- Supervise and implement any/all financial reporting to lenders and investors.
- Ensure compliance with local, state, and federal government requirements particularly HUD and PHFA regarding financial regulations.
- Create and direct capital needs planning and implementation, including replacement reserve strategies in collaboration with Property Management department.
- Maintain and review schedule of maturing debt and operating partnership agreements. Establish and implement year 15 and other time sensitive restructuring strategies.
- Gather and interpret key market data regularly to inform potential repositioning/refinancing/sales opportunities.
- Bachelor's degree in Accounting or Finance
- 7 years of relevant experience in accounting/finance management
- Prior experience in real estate development or property management
- Experience with Low Income Housing Tax Credits preferred
- Experience with RealPage preferred
- CPA preferred
- Advanced skills in Microsoft Office Suite
- Strong organizational skills with ability to manage multiple projects in a timely manner
- Ability to analyze and make recommendations from large amounts of data
- Strong communication skills and proven track record of managing a department
- The employee is regularly required to move around the building or site.
- Constantly operates a computer and other office equipment.
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