Genpact - Assistant Vice President - Property Accounting - CA/CPA
4 weeks ago
Assistant Vice President, Property Accounting
- With a startup spirit and 90,000+ curious and courageous minds, we have the expertise to go deep with the world's biggest brands-and we have fun doing it.
- Now, we are calling all you rule-breakers and risk-takers who see the world differently and are bold enough to reinvent it.
- Come, transform with us.
Are you the one we are looking for?
- We are inviting applications for the role of Assistant Vice President, Property Accounting.
- In this role, you will be responsible for supervising and reviewing the work of team members, conducting general and property accounting operations.
- The responsibilities primarily include executing accurate and timely month-end close process and procedures in accordance with GAAP, reviewing the monthly financial reporting and perform detailed analysis of all the accounts in the General Ledger.
- The Senior manager should possess a thorough knowledge of Accounting Principles and practices, knowledge of Property Accounting, and ensure accurate, effective, and efficient processes as per established internal controls.
- You must also be willing to work in flexible and varying shifts throughout the year.
- As a part of the team, you must react proactively, positively, patiently, and effectively to seeking clarifications, and have a customer centric approach to problem solving.
Responsibilities :
- This role will be responsible for successful transition of the process and responsible for setting it up FTR (First Time Right).
- Function as Subject Matter Specialist for the Property Accounting process, complete know how and understanding of the value chain.
- The role will require driving growth and ensuring strong engagement, stable operations, talent development, retention, and continuous improvements.
- Require leading teams, manage the overall performance, and foster positive work environment.
Other Responsibilities :
Financial Planning and Strategy :
- Collaborate with senior management on financial planning, strategic initiatives, and real estate investment strategies.
- Provide financial analysis, projections, and recommendations to support decision-making and achieve financial goals.
- Maintain attrition at the lowest level as per corporate target and proactively plan & execute people movement during high volume or attrition.
- Coach & mentor Senior Manager/ Manager and help them on their career pathing to succeed well in their roles.
- Ensure team is trained on all corporate/process and skill-based trainings and knowledge retention and improvement in the team.
- Develop and run metrics that measure the activities performed by R2R and present them in a synthesized way.
- Ensure process controls are appropriately established, communicated to employees and timely audited.
- Collaborate with members of Finance, all client departments and other third parties to continuously surface and diagnose inefficiencies to drive forward the design and implementation of process improvements and documentation.
- Identify improvement opportunities using Benchmarking data, provide demonstrate to Managers in designing and implementing process improvements and efficiencies along with executing on results required.
- Review the SOP Documentation and content creation/improvement.
Property Accounting :
- Thorough understanding of Financial Reporting, financial statements, including income statements, balance sheets, and cash flow statements, for individual properties or property portfolios.
- Ensure accuracy, compliance with accounting standards (e.g., GAAP, Cash, Accrual, GAAP etc.) and timely delivery of financial reports.
- Interacting with client stakeholders within and outside client organization to support reporting and decision-making related activities at property level.
- Understanding of the entire Property Management Process E2E requirements, if required can support the operational activities as listed below to drive operational efficiency and continuous improvement.
Capital Expenditure (CapEx) Management :
- Capital expenditures for property improvements, renovations, and major repairs. Ensure Capex budgets are tracked against actuals and ensure proper accounting treatment of Capex items.
Property Tax Compliance :
- Property tax assessments, payments, abatements, and compliance with tax regulations are done as per the due date.
Funds reinvestment :
- Treasury Bills, Certificates of deposits etc. so funds can be appropriately re-invested on time.
Expense Management :
- Property operating expenses, including utilities, maintenance, repairs, insurance, taxes, and other costs. Ensure accurate coding, allocation, and recording of expenses to the appropriate property accounts.
- Bank reconciliation of operating and non-operating account for all the properties and clearance of open items.
- Annual budgets, forecasts, and financial plans for properties.
- Review actual performance against budgeted figures, analyze variances, and provide insights for cost management and revenue optimization.
Audit and Compliance :
- Documentation and support for internal audits, external audits, and financial compliance reviews.
- Ensure adherence to accounting policies, internal controls, regulatory requirements, and industry standards.
- Ad-Hoc Analysis and Projects Reporting to stakeholders.
Rent and Lease Management Understanding :
- Rent rolls, lease agreements, and tenant accounts receivable/payable.
- Calculate and process rent payments, track lease terms and expirations, handle lease renewals, adjustments, and escalations, and reconcile tenant accounts.
- Ensure accurate and timely reporting of financial data to stakeholders meeting the accuracy and TAT commitments. Qualifications we seek in you. (All highlighted are mandate).
Minimum qualifications :
- Relevant Accounting Experience
- B. Com, M. Com, MBA, CA, CP
- +12 to 14 years of overall experience in Property Accounting - FP&A and Core Property Accounting) related processes and have prior experience of working with real estate client.
- CPA Candidate preferred.
- Excellent written & verbal communication, Interpersonal, Analytical Skills & highly initiative taking in approach.
- Understanding of Yardi, JD Edwards, MRI will be a preference.
- Detailed oriented with a drive for excellence.
- Ability to work independently and collaboratively.
- Able to meet tight deadlines.
- Strong Knowledge of US GAAP and property Accounting Principles for US markets. Excellent analytical, organization and critical thinking skills.
- Thorough knowledge of Real Estate industry and property accounting, Month Close & Period End Accounting and Budgeting
- Proficient in MS Office applications, especially in Advanced MS-excel knowledge.
Personal skills :
- Should have managed the Property Accounting processes for real estate clients in his prior role at managerial positions.
- Pride in accuracy.
- Prominent level of professionalism and a service attitude.
- Experience in team handling of minimum 50+ employees.
- Establish & Manage client relationship through regular engagement with the client.
- Pro-actively identify the issues or client needs and act.
- High customer service oriented.
- Understanding of Visual Basics (Preferred) Shift.
- Working for the US Client.
Evening Shift : 5:30PM to 2:30AM IST
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