Vice President Finance Accounting

The Newcastle Search Group has been retained by a highly established, industry leading real estate owner/operator (Commercial Office & Residential Multi-Family in the Loop to assist with the hiring of a Vice President, Accounting & Finance.

The hiring company is operating via a hybrid work schedule and is only considering local candidates to the Chicago area.

The Vice President, Accounting and Finance will have full ownership of

the accounting and financial reporting functions, reporting directly to the Chief

Operating Officer. This individual will oversee a broad accounting organization

spanning property accountants, accounts receivable, accounts payable and the

Controller of the affiliated property management company.

• Own full monthly, quarterly and annual close across all property and
• Prepare consolidated and property-level GAAP financial statements
• Deliver reporting packages to ownership, lenders, investors and JV partners
• Coordinate year-end close and audit/tax work paper preparation

• Lead and review all property accountants across the commercial office and multi-family portfolios
• Establish close checklists, policies and procedures for the property accounting function
• Serve as primary escalation for complex accounting and technical issues

• Oversee CAM reconciliations, straight-line rent, TI allowances and ASC 842 compliance
• Review tenant billing, AR aging, security deposits and deferred rent
• Oversee residential income, concessions, vacancy and capital improvement accounting

• Oversee all tenant/resident billing, collections, cash application and bad debt reserves
• Approve weekly payment runs, ensure proper coding, authorization and segregation of duties
• Manage vendor master file, 1099 filing and AP internal controls

• Review and approve property management company financial statements monthly
• Oversee management fee revenue recognition, payroll and overhead allocation
• Manage intercompany transactions, eliminations and cross-entity reconciliations

• Serve as primary system administrator and subject matter expert for Sage
• Manage entity setup, chart of accounts, dimensions, custom reports and oversee integrations with property management platforms, bank feeds and third-party systems
• Lead system upgrades, workflow automation and user training across all functions
• Oversee cash management, bank reconciliations and cash flow forecasting across the full portfolio
• Prepare and submit lender compliance packages, DSCR calculations and
• Manage debt service schedules, interest accruals and loan accounting

• Lead annual budget process for all properties, entities and the property management company
• Prepare monthly variance analyses with explanatory commentary for ownership
• Design and maintain a robust internal controls framework across all accounting functions

• Bachelor Degree in Accounting or Finance. CPA is highly preferred.
• No less than 12 years of total experience, with no less than 5 years in a people management capacity.
• Deep understanding of real estate industry.
• Demonstrated track record of process improvement, driving efficiency and building best practices.
• Strong systems skill set, included advanced Excel skills.