Staff Accountant and Asset Management Sp
Staff Accountant & Asset Management Specialist
Status: F/T, Exempt
Cabrillo Economic Development Corporation (CEDC) is a community development corporation serving Ventura, Santa Barbara and Los Angeles Counties. CEDC’s core program areas are: development and construction of for-sale and multi-family rental housing for very-low, low, and moderate income families; homeownership education, property management; and community building and organizing.
The Staff Accountant & Asset Management Specialist will direct CEDC’s Corporate, Predevelopment, and Development financial affairs and, for the guidance of management, will prepare financial analyses of operations. The Staff Accountant & Asset Management Specialist directly reports to the CFO. S/he must be hands-on in accounting and should be able to create and implement systems that will ensure audits and reports get out in a timely manner.
The Staff Accountant & Asset Management Specialist is also responsible for a portfolio of up to 25 properties and is the primary contact for the assigned portfolio’s investors and lenders. The Staff Accountant & Asset Management Specialist acts as the representative of the owner of each property. As such, the Staff Accountant & Asset Management Specialist is directly responsible for ensuring that the long-term financial health of properties in their portfolio meets CEDC’s, owner and lender requirements.
The Staff Accountant & Asset Management Specialist provides analytical support to financial questions regarding the assigned portfolio. The Staff Accountant & Asset Management Specialist also works closely with several cross-functional teams focused on the financial health of the portfolio, including Property Management and individual property site staff, Accounting, Maintenance, Legal, Insurance, Business Systems, and Development. The Staff Accountant & Asset Management Specialist has extensive external contact with CEDC’s consultants (legal, financial, etc.), regulatory agencies, lenders and investors.
ESSENTIAL FUNCTIONS OF THE POSITION:
The position involves general accounting, internal auditing, cost accounting, budgetary controls, and assets. Essential functions of this position include, but are not limited to the following:
· Assist in the processing of CEDC and affiliates invoices, coding/inputting into accounting software system
· Process checks with support back-up and approvals
· Daily/weekly bank deposits
· Assist in the processing of revenue receipts, coding/inputting into accounting software system
· Maintain accounting A/P files for all invoices and checks
· Assist in the processing of the 1099s at year-end for vendors
· Process development related A/P and A/R
· Prepare, collect and maintain files of W-9s and insurance for vendors
· Budget entering into accounting software system
· Audit workpapers (with direction from CFO & Accounting Supervisor)
· Monthly division summary budget reports for Revenue and Expenses (detail GL if requested)
· Maintain CEDC financial files and all financial grant and loan agreements (with direction from CFO)
· Perform review of monthly property financial statements, including analysis of balance sheet, income statement and variance report, to support portfolio performance reporting for senior management, lenders and investors.
· Support due diligence efforts related to the acquisition, capitalization and disposition of assets.
· Coordinate regular asset calls and site visits with property management teams to ensure goals and budgets are being met, and if not, determine strategies for corrective action.
· Research, as necessary, partnership agreements, loan documents, regulatory agreements
· Submits periodic reporting and ensures all regulatory, lender and investor compliance
· Prepares and submit initial, and on annual basis, all documentation to ensure welfare tax exemption
· Maintains department calendar of reporting requirements. Scans significant documents and transfers to department’s electronic files. Monitors certificate of insurance database to maintain compliance with contract requirements.
· Oversee replacement reserves schedule and submits all requests for use of reserves.
· Oversees risk management needs and implements required trainings at both the properties and corporate.
- Bachelor’s degree and 2 years of accounting experience
- Associate’s degree and 3 years of accounting experience
- High school diploma and 4 years of accounting experience
- A minimum of three years’ experience in real estate or finance with a heavy emphasis on financial analysis of large portfolios is preferred.
- Must have experience in at least three of the following areas: non-profit affordable housing, refinancing of debt, HUD regulatory programs, real estate accounting, financial analysis, property management or project development.
KNOWLEDGE & ABILITIES:
- Demonstrated proficiency using Excel and Word.
- Ability to multitask and adapt to changing priorities in a fast-paced and collaborative environment.
- Proven ability to work collaboratively with groups both internal and external, and able to lead a project where needed.
- Ability to prepare financial feasibility analyses and strategic plans, conduct research, and prepare narrative reports and proposals.
- Proven capability to analyze complex problems.
- Strong analytical and accounting skills.
- Strong written and verbal communication skills.
- Good business and financial judgment.
- Ability to work effectively with all levels of staff in many departments, external financial professionals, and public officials.
- Experience with, or strong interest in, non-profit organizations and CEDC’s mission.
- Ability to work in fast moving, quickly changing environment.
- Ability to provide day-to-day support of assigned portfolio with minimum supervision.
- Ability to develop and maintain effective working relationships.