Job description

Senior Development Accountant, Boston Corporate Office - Boston, MA / Remote

General Statement of Duties: Responsible for the daily accounting functions and financial reporting for a portfolio of development projects. Act as the main point of contact regarding all financial matters for assigned portfolio. Provide accurate and timely information to internal and external stakeholders. Serve as a resource and mentor for junior staff.

Supervision Received: Works under the general direction of the Development Accounting Supervisor and Development Assistant Controller.

Supervision Exercised: Responsible for guiding, mentoring and reviewing the work of junior staff.

FLSA Status: Exempt Essential

Functions of the Position: (Any one position may not include all the duties listed, nor do the listed examples include all that may be found in positions of this class.) • Oversee and manage a portfolio of development projects.

• Review monthly project requisitions and bank reconciliations prepared by junior staff.
• Communicate with lenders and investors regarding project funding.
• Proactively seeks answers to complex problems and displays initiative to acquire additional job knowledge.
• Understand the following programs and apply knowledge to assigned projects to maximize the financial benefits to Beacon and our investor partners.
• Internal Revenue Code § 42 - Low-income housing credit
• National Park Service historic tax credit program
• State low-income and historic tax credit programs (various States)
• Tax-exempt bond financing rules when partnered with 4% credits
• Prepare workpapers and understand the forms and reports required by various State agencies and bond counsel including, but not limited to, LIHTC cost certifications, 10% carryover allocation test, 50% test, 95/5 certification, 8609 forms, and state low-income and historic tax credit forms.
• Prepare year end audit and tax return workpapers and correspond with external auditors regarding same.
• Submit equity installment requests and correspond with investors regarding same.
• Perform a review of work prepared by junior staff including workpapers, reporting, journal entries and correspondence.
• Mentor junior staff by fielding questions and providing guidance and direction on all aspects of development accounting and LIHTC matters.
• Understand project models and proformas including the financing, equity, and tax credit basis assumptions.
• Read and interpret the legal documents and contracts that govern assigned projects and understand their relationship to the financial statements and project function.
• Work closely with internal and external stakeholders to prepare and execute acquisition, construction and permanent loan closing documentation and schedules.
• Work closely with development directors on budget analysis to prepare tax credit delivery projections, monthly forecasts and projected sources and uses.
• Review draft audited financial statements, cost certification and agreed upon procedure (AUP) reports and provide comments for auditors.
• Assist in writing and reviewing development accounting policies and procedures. • Provide feedback to supervisors on the performance of junior staff.
• Work on special projects and ad hoc reporting as requested.
• Maintains and respects project confidentiality.

Minimum Qualifications Education: Bachelor’s degree in Accounting required.

Experience:

• A minimum of three years of experience with the Federal and State LIHTC programs listed above, general ledger maintenance, financial statement preparation and month-end close preferred.
• Year end audit workpaper preparation experience required with a solid understanding of generally accepted accounting principles.
• Knowledge of the multi-family property management industry, development accounting and low-income housing tax credits preferred.

Knowledge, Skills and Abilities:

• Strong knowledge of Microsoft Excel and Word. Experience with Yardi and Avid software systems preferred, but not required.
• Hard-working, self-motivated with an ability to work independently.
• Must have good analytical skills and be able to apply knowledge gained to assigned projects.
• Must be detail oriented with proven organizational skills.
• Must be able to communicate clearly, both verbally and in written form.
• Must possess a desire and willingness to learn and move up within the organization.
• Must establish good relationships with colleagues and work toward team goals. Act as a leader in the department and mentor junior staff.
• Must have the ability to consistently meet deadlines and work under pressure due to work complexity and time sensitivity. Due to time sensitivity of work, position may occasionally require extended hours on during work days, holidays, and/or weekends during peak periods of business.
• Travel may be required for company meetings and/or trainings.

The pay range for this position is between $64,800 and $87,100.

Benefits Offered:

• Medical, Dental and Vision insurance, beginning on the first of the month after hire.
• 401(k) with company match, short term disability and long term disability insurance.
• 3 weeks’ paid vacation, 13 paid holidays.
• Summer flex scheduling options to allow for early releases on Friday from Memorial Day to Labor Day.

Beacon Communities LLC seeks a diverse pool of candidates. We are committed to a policy of equal employment opportunity without regard to race, color, ancestry, national origin, religion, disability, gender, gender identity, sexual orientation, age, veteran status or other protected class.

Beacon Communities - 2018, 2019, 2020 Boston Globe's Top Places to Work!!

At Beacon, we strive to make a difference in our residents’ lives. We build outstanding communities that make enduring contributions to the vitality of our cities and towns. We create communities that serve a diverse cross section of our society. Our communities are healthy and vibrant. Why? Because they are planned with care, consideration, and compassion.

Company Overview: Founded in 2004, Beacon Communities LLC is a privately-owned real estate firm that develops, acquires, invests in, and manages a wide range of multifamily housing. Beacon currently owns and manages approximately 18,000 apartments including affordable housing, market rate housing, and mixed income-housing. Its developments range from new construction, to historic adaptive reuse, to the renovation of existing housing.

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