Senior Accountant Development

HMHSS Homeport Hampton Roads
Norfolk, VA 23505, USA

A Brief Overview
The Senior Accountant performs accounting, funding administration, and financial reporting for HMC's development and construction portfolio, spanning ground-up new construction and major renovation of aging housing stock across our military housing communities. This role works alongside the Development Project Management team and serves as the financial control point among the development group, general contractors, lenders, and trustees, as well as the reserve account requirements set by our governing project documents.
What you will do

• Prepares, reviews, and submits monthly construction draw requests, including conditional draws — confirming every condition precedent is satisfied and documented before funds are requisitioned (lien waivers, sworn statements and contractor affidavits, stored-materials certifications, retainage calculations, third-party inspector sign-off).
• Maintains a tracked log of outstanding funding conditions and conditions subsequent on conditional advances; clear each item on schedule and elevate any condition at risk of delaying disbursement.
• Reconciles each draw against the approved project budget, the contract sum, and the schedule of values; investigates and resolves variances before submission rather than after.
• Coordinates with lenders, trustees, title companies, fund control agents, and third-party construction inspectors on draw certification, disbursement timing, and title continuation / date-down endorsements.
• Administers retainage schedules, including reduction and release at substantial and final completion, in accordance with contract terms.
• Maintains sources-and-uses tracking across equity, debt, reserve draws, and any government or partner contribution; monitors remaining availability by funding source.
• Reviews and records all change orders—owner-directed, contractor-requested, allowance reconciliations, and contingency draws—documenting the approval authority and the funding source for each.
• Owns the contract sum reconciliation at all times: original contract value, executed change orders, pending change orders, and unresolved claims, tied to committed cost and remaining contingency.
• Validates change order pricing support against contract terms—labor and equipment rates, material pricing, markup, overhead, fee, and general conditions—and flags calculations inconsistent with the contract.
• Tracks change order impact on affected budget lines, contingency balances, and funding availability; escalates promptly when a change order threatens a budget line or a funding condition.
• Maintains a complete audit trail linking every change order to an authorization, a budget line, a draw request, and a payment.
• Owns job cost accounting for assigned projects: commitments, hard and soft costs, capitalized interest, and allocation of shared or program-level costs across projects and phases.
• Applies and documents proper capitalization versus expense treatment for development costs; maintains construction-in-progress schedules and executes placed-in-service asset transfers at completion.
• Prepares monthly budget-to-actual reporting with variance explanation, and develops cost-to-complete and cost-at-completion forecasts jointly with project management.
• Maintains the commitment register (contracts, subcontracts, purchase orders) and reconciles it to accounts payable and the general ledger.
• Reviews contractor and vendor invoices for contract compliance, correct cost coding, tax treatment, and required supporting documentation.
• Administers PRA and ORA activity related to development and construction: required funding deposits, permitted withdrawals, and any minimum balance or funding-level tests.
• Supports cash flow forecasting for draw timing, interest carry, and reserve funding requirements.
• Executes month-end, quarter-end, and year-end close for development entities: journal entries, accruals, account reconciliations, and intercompany activity.
• Prepares department-level financial statements and supporting schedules; supports consolidation and management reporting.
• Serves as primary preparer and point of contact for…