Company DescriptionJonathan Rose Companies is one of the country’s leading owners, developers and operators of green affordable and mixed-income communities. Founded in 1989, Rose has created projects with more than $4.2 billion of value with a current portfolio of 19,000 apartment homes in 15 states and Washington DC.
Our mission is to create a more environmentally thriving, socially just world through the development, preservation, renovation, and management of green, affordable and mixed income housing.
The firm is a fully integrated investment management, development and asset management company with property management, construction management, solar energy, mortgage finance and title company affiliates.
We strive to achieve positive environmental impact by investing in energy efficiency, decarbonization, and water conservation to reduce our use of natural resources and toxins. Our social impact is achieved by preserving and expanding housing affordability, and connecting our residents to health, education, financial, cultural and social services. And we aim to achieve these impacts in a co-creative process with governments, our residents and staff.
We are signatories to the United Nations Principles for Responsible Investing (UN PRI), benchmark performance annually through GRESB, and align our reporting with the Task Force for Climate-related Financial Disclosures (TCFD) guidelines, SASB Standards, and GRI Standards.
Position DescriptionThe Capital/Development Controller is responsible for everything within a Joint Ventures accounting and applies cash, accrual, and full GAAP accounting principles to prepare, analyze, maintain, and deliver complete and accurate financial reports for a highly complex or strategic portfolio of clients and properties.
We are searching for qualified applicants who can report to either our New York City or Cleveland Offices.
The pay range for this position is $165,000-$190,000 per year.
Responsibilities:
GENERAL ACCOUNTING
- Responsible for driving real estate development projects from beginning to end
- Assist the development management team throughout all project phases, including site acquisition, contracts, programming, entitlement, design, finance, construction, and leasing/marketing
- Prepare pre-development and development schedules
- Oversee and coordinate funding requests to lenders and partners through design cycle
- Interpret financial performance with senior management
- Prepare project updates for management
- Assist with negotiation and execution of contracts
- Participate in the process of sourcing new development and acquisition opportunities
- Reviews approved payment applications and invoices.
- Manages the payment of development fees, payroll and reimbursables.
- Rejects invoices without proper documentation (executed contracts, executed change orders, lien waivers, etc.) proper signing authorities.
- Alerts appropriate team members to resolve invoice approval issues.
- Facilitates disbursements via check or wire transfer upon receipt of funding,
- Manages cash balances.
- Prepare comprehensive monthly reports
- Ensures that all expenses, receipts, owner’s distributions, funding requests and other transactions for the accounting period have been accurately posted.
- Perform other duties assigned
PROJECT ACCOUNTING
- Ensures that contracts and change orders on design and construction projects are properly maintained, (including review for appropriate signing authorities).
- Assists in the preparation of project-specific required financial reporting.
BUDGETING & COST REPORTING
- Works with all team members to establish approved budget.
- Works with project executives to update and review anticipated project costs, including monthly variance report.
- Coordinates the preparation of development cost reports.
- Ensures all project costs to date are included in the cost report (construction, consultants)
- Reconciles development cost reports to general ledger and / or loan draws.
FINANCIAL STATEMENTS
- Financials statement preparation, including mastering of cash flow statements and hypothetical liquidation knowledge.
- Completes and oversees advanced level accounting transactions in preparation of client financial statement packages.
FINANCIAL PACKAGES
- Generates and reviews financial packages for accuracy and comprehensive reporting.
- Prepares packages on a schedule to ensure timely delivery to the client and other management teams.
Requirements:
- Bachelor’s Degree in Accounting, Finance or related field required.
- 4+ years of prior accounting, finance or related experience required.
- Professional experience with relevant finance and accounting business processes working with real estate preferred.
- 3+ years of experience with Project Accounting preferred.
- 2+ years of experience with Construction Accounting, Financial Reporting, Financial Statement Preparation, Preparation of Development Cost Reports, Development Accounting, GAAP, and Balance Sheets preferred.
- 1 year of experience Joint Venture Accounting and Depreciation preferred.
- Familiar with construction and real estate development such as acquisition, A&E, financing, marketing, insurance, RE Taxes, operating deficit, debt service and owners’ contingency usage.
- Knowledge of assets that have depreciation, amortization, and prepaid concepts as well as understanding of accruals.
- Knowledge of audit report footnote preparation and have had experience with an audit from a CPA company.
- Advanced knowledge of GAAP required.
- Ability to travel up to 10% of the time.
Rose Companies Benefits:
At Rose Companies our goal is to provide an affordable and comprehensive benefits package that provides security for you and your family and supports your overall wellbeing. Benefits offered include, but are not limited to: Medical, Dental, Vision, Flexible Spending Accounts, Life, Short-Term Disability, Long-Term Disability, 401K with company match, competitive paid time off policy, paid holidays, parental bonding leave and educational assistance.
Rose Companies is committed in policy and practice to providing equal employment opportunities for all applicants and employees, based upon their training, experience, and overall qualifications. Consistent with this commitment, discrimination against an applicant or employee based upon the individual’s race, color, creed, religion, sex, gender, age, national origin, ancestry, citizenship status, marital or familial status, sexual orientation, gender identity, gender expression, disability, military status, protected veteran status, genetic information, or any other condition or characteristic protected by law is strictly prohibited.