Senior Accountant in Los Angeles, CA at JRK Property Holdings

Date Posted: 7/22/2020

Job Snapshot

Job Description

Position Summary:

The ideal candidate will be responsible for all accounting functions for several multifamily properties within the multifamily real estate group. These responsibilities include maintaining and supporting the general ledger, recording revenue, accruing expenses, monthly financial reporting, budgeting and forecasting, profit and loss analysis and on a quarterly basis the preparation of consolidated and/or combined financial statements.

JRK Property Holdings:

Headquartered in West Los Angeles, JRK Property Holdings, Inc. (“JRK”), a fully-integrated privately-held owner and operator of multi-family, hospitality and self-storage properties throughout the United States. Founded in 1991, JRK owns, operates and manages 81 multifamily properties consisting of over 25,000 units, six hotels and two office buildings with a combined portfolio value in excess of $5 billion in market value. JRK operates in 22 states nationally and has over 1,300 employees.

Essential Functions:

· Monthly accounting close process including recordation of monthly operational activity

· Monthly preparation of schedules to support the balance sheet and income recordation

· Record rental income and ancillary income monthly. Also reconcile to cash receipts

· Prepare monthly bank reconciliations

· Record and amortize prepaid items such as insurance, loan fees and deferred income

· Maintain fixed assets, calculate and record monthly depreciation and amortization expense

· Reconcile security deposits to the subsidiary ledger monthly

· Accrue all property taxes which includes understanding how property taxes are calculated

· Record debt service monthly including principal amortization, interest expense, escrow accounts

· Understand how to analyze and record bad debt expense and prepaid rent

· Record payroll semi-monthly

· Record monthly accrued liabilities including utility expense, debt service, etc…

· Record management fee expense, asset management fees and other G&A expenses monthly

· Understand how to calculate and record interest expense and a preferred return

· Work with Asset Managers for proper capitalization of fixed assets and operational expenses

· Monthly comparison of income and expenses to budget with follow up and explanations for significant variances

· Analysis of financial data and assist with ad hoc projects

· Monthly financial statement reporting for management and investors

· Monthly forecasting of income, expenses and cash flow analysis

· Perform a quarterly consolidation or compilation of financial data

· Understand investment accounting (Cost method, equity method and consolidation and the differences between the methods)

· Provided accounting for Funds and an understanding of fair value reporting versus historical cost and yield calculations

· Preparation of the annual budget

· Coordinate and prepare workpapers provided to auditors annually

· Any other responsibilities that may be assigned from time to time.

Prerequisites:

Education:

· Bachelors and/or Masters Degree in Business Administration with an emphasis in accounting.

· C.P.A. is strongly preferred but not required

Experience:

· 4+ years of experience in the accounting and finance with real estate experience, preferably multifamily properties

· Understand internal controls for real estate operations and accounting

· Understand financial reporting and the significance of each financial statement

· Understand accounting and reporting to investors in funds

· Strong knowledge of GAAP, modified cash basis and cash basis accounting

· Experience in both the private and public accounting sectors is preferred but not required

· Reading and interpreting partnership agreements, promotes/waterfalls, and debt agreements

Skills:

· Credibility, ethical, full disclosure and clean financial history

· Confidentiality, understands the ethical standards of an accountant

· Conscientious about timeliness of assignments and quality of work product

· Accountable for specific performance and accurate.

· Ability to work independently with little supervision.

· Intuitive analytical skills to proactively address and identify accounting and operational issues

· Possess exceptional written and verbal communication skills, including ability to articulate recommendations in a concise and timely manner

· Able to handle multiple tasks and maintain control and order over same

· Ability to work under pressure in a fast paced, growth organization

· Understanding of multifamily real estate operations

· Exceptional analytical skills

· Good financial reporting and technical skills

· Strong work ethic. Ability and willingness to roll up your sleeves to get the job done

· Ability to develop relationships with all departments within the multifamily group with an emphasis on team.

Supervisory Responsibilities:

· Interact with and supervise certain tasks performed by accounts payable personnel

Hardware/Software:

· Exceptional computer skills in the operation and functioning of all programs used by the organization, i.e., Microsoft Word, Excel, PowerPoint; AMSI, eSite Property Management Software, Quickbooks

Other Abilities and Demands:

· Analyze, organize, summarize and articulate complex financial, operational and legal information

· Command of the English language and be able to proofread work

· Read and interpret agreements, then implement the relevant provisions of these agreements

· Detailed, organized and communicative

· Understanding, yet persuasive and decisive when dealing with others in the organization

· Responsive team player with ability to quickly prioritize among numerous pressing tasks

· Task and goal oriented and capable of functioning in an entrepreneurial and corporate setting

Working Conditions:

· Work in a dynamic office setting

· Some evenings and occasional weekends

· No travel required

This Job Description Does Not Constitute an Employment Contract

Job Requirements

Supervisory Responsibilities:

· Interact with and supervise certain tasks performed by accounts payable personnel

Hardware/Software:

· Exceptional computer skills in the operation and functioning of all programs used by the organization, i.e., Microsoft Word, Excel, PowerPoint; AMSI, eSite Property Management Software, Quickbooks

Other Abilities and Demands:

· Analyze, organize, summarize and articulate complex financial, operational and legal information

· Command of the English language and be able to proofread work

· Read and interpret agreements, then implement the relevant provisions of these agreements

· Detailed, organized and communicative

· Understanding, yet persuasive and decisive when dealing with others in the organization

· Responsive team player with ability to quickly prioritize among numerous pressing tasks

· Task and goal oriented and capable of functioning in an entrepreneurial and corporate setting