Asset Manager/Property Accountant

Position Title:  Asset Manager/Property Accountant

Unit: Finance

Status: Full-Time; Regular; Exempt

Salary Range:  $90,000 - $100,000

Location: Long Island City

Summary

Reporting to the Senior Controller, the Asset Manager/Property Accountant (the Accountant) is responsible for overseeing a portfolio affordable housing development and management for the organization.  The position handles the accounting, analyses and reporting functions related to each entity which includes LLCs, LPs and HDFCs.  Ensures timely monthly reports to support a reliable assessment of the financial health of each property.  Coordinates with the Senior Controller and third-party management company (Phipps Housing) on the annual budget and financial statements audit for each property.  Also, monitors each phase of projects in development in consultation with legal and outside public accounting firms.  Additionally, assists with financial oversight of leased properties.

Core Competencies:

Mission and Culture Fit

Appreciation of our mission and cultural values.  Embraces the value and potential of all individuals without regard to race, ethnicity, gender, sexual orientation or class.

Property Accounting Knowledge

Must have detailed working knowledge of property management accounting policies and procedures with ability to communicate their purpose to accounting and non-accounting staffing a manner that is easily understood.  Should also have a operational knowledge of how low income housing projects funded by tax credits.  Able to relate operating results with programmatic needs.

Communication/Collaboration

Must have solid oral and written communication skills.  The position collaborates with many different people at various levels and the incumbent’s communication must be at the highest level to circumvent potential misunderstandings or misrepresentation.

Analytical Skills

Must have strong analytical skills with the ability to review and problem solve using a solid application of accounting principles.  Conducts/reviews periodic and regular analyses to ensure alignment of accounts and balances, with prompt disposition of irregular or reconciling items.

Organization Skills

Must be highly organized and able to produce quality work in a fast-paced working environment.  Should be able to exercise good judgment in establishing priorities in the face of multiple projects and tasks, ensuring that deadlines are met.

Specific Responsibilities:

1. Ensure compliance with project agreements and other regulatory and lender requirements for entire portfolio of subsidiary entities.
   1. Review existing LLC, LP and HDFC closing binders – including Partnership Agreements, Management Agreements and other regulatory agreements, developing a comprehensive database by project.
2. Serve as point person for maintaining relationship with third party company.  Evaluate performance of third-party company and offer recommendations to amend the relationship as needed.
3. Maintain entity tax status and compliance with federal, state and local regulatory agencies, including RE tax exemptions (420c) as needed.  Maintain database to oversee dissolution of entities no longer in use.
4. Prepare/oversee required quarterly financial and annual reports, audits and other submissions to government agencies, project partners, syndicators, lenders and funders for each project. Support Fortune’s relationship with asset management and oversight teams at various government agencies such as HPD, DHCR etc.
5. Ensure that reserves are properly maintained for each project and used in