Commercial Property Financial Manager

2 days ago

Allahabad, Uttar Pradesh, India beBeeAccounting Full time ₹ 1,57,76,000 - ₹ 2,15,84,000

Job Overview

About the Role:

The primary responsibility of this position is to oversee the financial operations of a portfolio of commercial properties. The successful candidate will work closely with various teams to ensure compliance with lender, tax, and investor requirements.

This role involves managing day-to-day accounting functions using specialized software, such as MRI. Strong communication skills are necessary for effective collaboration with internal and external stakeholders, including property teams, Accounting Managers, and other departments like Acquisitions, Asset Management, Tax, and Finance.

Main Responsibilities:

  • Manage overall property-level accounting, including rent rolls, lease maintenance, cash management, financial reporting, annual budgets, quarterly budget re-projections, tax basis amortization, and depreciation calculations.
  • Support 3rd-party MRI users, review and approve operating and tax escalations, annual estimates, quarterly and annual reconciliations, cost pools, expense caps, exclusions, gross ups, and base year calculations.
  • Oversee loan compliance, mortgage payments, lender reporting, debt service coverage ratio calculations, loan and escrow draw, preparation of unaudited financial reports, comprehensive audit support, and preparation of audited financial statements with footnotes (FV and Tax Basis).

Additional Duties:

  • Joint Venture Accounting: Review and comply with operating agreements, prepare financial reporting on a consolidation or combined level, as required, including audited financial statements with footnotes (FV and Tax Basis), cash management, capital calls, distributions, management fees, income allocations, waterfalls, acquisitions, dispositions, diligence materials, settlement statements, estoppels, post-closing activity true-up, onboard properties, and train 3rd-party teams on financial standards and reporting.

Qualifications:

  • 5-8 years of experience in property accounting, with a majority in commercial real estate.
  • Experience working with Funds and/or Joint Ventures.
  • Knowledge of fair value GAAP, tax accounting, IFRS, TRS (Taxable REIT Subsidiaries).
  • Proficiency in tenant recoveries (CAM), waterfall calculations, year-end audit, financial statement preparation, and footnotes.
  • Experience with loan compliance, covenant calculations, and proficiency in financial software systems applications, Microsoft Windows software programs, and MRI.

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