Property Controller
4 days ago
Queens
Financial Reporting & Close • Assist in the preparation of monthly, quarterly, and annual financial statements for all affordable housing entities, partnerships, and developments., • Support the month-end and year-end close processes, including journal entries, account reconciliations, and variance analysis., • Prepare and review financial reports for investors, lenders, syndicators, and government agencies in accordance with applicable standards (GAAP, HUD, LIHTC)., • Maintain general ledgers for multiple ownership entities, including LLCs and limited partnerships. Affordable Housing Compliance & Regulatory Reporting • Ensure compliance with LIHTC program requirements, including annual owner certifications and investor reporting., • Coordinate preparation of HUD-required financial statements and annual audits for Section 8, HOME, and other federally assisted housing programs., • Assist in preparation of annual tax returns for partnerships and entities (Form 1065, Schedule K-1) in coordination with external tax advisors., • Monitor regulatory agreements, loan covenants, and ground lease obligations to ensure ongoing financial compliance. Budget & Cash Management • Support the annual budgeting process across the affordable housing portfolio, working closely with asset management and property operations teams., • Monitor cash flow for individual developments, flag variances, and recommend corrective actions., • Oversee accounts payable and receivable functions, including HAP (Housing Assistance Payment) processing and subsidy reconciliation., • Review draw requests for construction projects and manage funding disbursements from lenders, investors, and public agencies. Audit & Internal Controls • Coordinate annual financial audits with external auditors; prepare audit schedules, supporting workpapers, and draft financial statements., • Implement and maintain internal controls to ensure the accuracy and completeness of financial data., • Identify areas for process improvement and support the implementation of efficiency initiatives. Team Leadership & Collaboration • Supervise and mentor accounting staff, providing guidance on affordable housing accounting principles and procedures., • Collaborate cross-functionally with asset management, development, property management, and legal teams., • Serve as a key point of contact for investors, syndicators, lenders, and government agencies on financial matters. QUALIFICATIONS Education • Bachelor's degree in Accounting, Finance, or a related field required., • CPA license a plus, • Minimum 10-15 years of progressive accounting experience, with at least 5 years in affordable housing, real estate, or nonprofit finance., • Direct experience with LIHTC partnerships, HUD programs (Section 8, HOME, CDBG), and/or tax-exempt bond financing strongly preferred., • Strong knowledge of GAAP and affordable housing accounting standards., • Proficiency with property management or affordable housing accounting software (e.g., Yardi, MRI, RealPage, Sage Intacct)., • Advanced Microsoft Excel skills; experience with financial modeling and consolidation., • Familiarity with HUD REAC submission processes and LIHTC compliance reporting is a plus. Core Competencies • Strong analytical mindset with exceptional attention to detail and accuracy., • Excellent written and verbal communication skills; ability to translate complex financial data for non-finance stakeholders., • High degree of integrity and discretion when handling confidential financial and tenant information., • Self-starter with the ability to manage multiple priorities and deadlines in a dynamic environment.