Property Operations Controller

Job description

Summary:

The Property Operations Controller will be responsible for managing a team that oversees a portfolio of multifamily apartments, which includes partnering with our third-party management companies to ensure financial integrity, preparing and reviewing key performance indicators, managing CPA's to deadlines for audit/tax requirements, monitoring cash flow, budgeting and forecasting. Furthermore, the Property Operations Controller will be responsible for monitoring accounting policies applied by the third-party management companies and ensuring consistent and accurate reporting across the operating portfolio. The ideal candidate will have a thorough understanding of multifamily real estate, affordable housing and strong leadership and financial analysis skills.

Essential Duties and Responsibilities: (Must be able to perform the essential functions of this position with or without reasonable accommodation.)

• Manage a portfolio of operating properties and develop relationships with the management companies accounting teams
• Develop and issue weekly, monthly and quarterly reporting for the Asset Management and executive teams
• Provide effective direction, leadership and oversight for Property Accounting staff to ensure accurate and timely financial reporting
• Develop and train Property Accounting staff. This includes formal training as well as ongoing industry and job-specific development.
• Drive performance among staff to meet financial accounting objectives, ensuring all deadlines are met without fail
• Collaborates with the other department managers to support overall department goals and objectives
• Implement and monitor processes to review property level financial reporting and ensure data integrity
• Establish and enforce proper accounting methods, policies and principles
• Prepare the reporting of key performance indicators for operating properties
• Interface/communicate with Asset Management to be aware of physical changes at the properties which impact the financials and cash flow projections
• As necessary, communicate corrective actions to management companies to ensure financial integrity and to enhance profitability and overall health of the properties
• Advises staff regarding the handling of non-routine reporting transactions
• Monitor compliance with debt covenants and guarantees
• Provide on-going financial reporting requirements to lenders/investors
• Oversee review and approval of replacement reserve withdrawals
• Review annual property budgets in collaboration with Asset Management
• Understand and train on the cash flow streams PIRHL realizes from its various operating properties - Deferred Developer Fee, Asset Management Fee, Management Fee, Incentive Management Fee and straight Distribution of Cash flow
• Guide staff to prepare cash flow calculations and drive timely collection
• Calculate and coordinate payment of investor distributions and preferred equity payments
• Coordinate property audits and tax returns between CPA and property management accounting function
• Manage and update PIRHL's Real Estate Owned (REO) Schedule as well as PIRHL's Contingent Liability schedule for operating guarantees
• Responds to inquiries from the other finance and company-wide managers regarding financial results and special reporting requests
• Assist with due diligence reviews for new multifamily investment opportunities and ensure a smooth and successful transition into the portfolio
• Provide data/ad hoc analysis on project specific and/or portfolio data to Asset Management, Development and Finance
• Other duties as assigned

Supervisory Responsibilities:

• Assign projects and direct staff to ensure compliance and accuracy
• Manage staff workload and priorities to ensure deadlines are met
• Advise and educate staff on best practices and objectives of reporting
• Drive performance to meet financial accounting objectives
• Monitors and analyzes department work to develop more efficient procedures and use of resources while maintaining a high level of accuracy

Qualifications:

• Bachelor's degree in Accounting or Finance required, Master's degree or CPA preferred
• 5+ years accounting/finance experience; preferably with experience in multifamily housing financed conventionally and with Low Income Housing Tax Credits
• Knowledge of public and private housing finance programs and related compliance requirements, including HUD, HOME, Section 8, IRS Section 42 and other programs is a plus

Skills and Abilities:

To Apply:

Please be prepared to submit your resume with your online application. We are not accepting third party submissions.

PIRHL is committed to equal employment opportunity.

Visit for our complete Equal Employment Opportunity statement.