Director of Multi-family Accounting; Affordable Housing

Position Summary

The Director of Multi-family Accounting leads the accounting function for Franklin Apartment Management’s affordable housing portfolio (approximately 5,000 units), ensuring accurate financial reporting, disciplined month-end close and budgeting processes, and full compliance with the regulatory and investor/agency reporting requirements unique to affordable housing (LIHTC, HUD, HOME, and state housing finance agency programs). This role partners closely with property management, asset management, and compliance teams to protect the financial health and regulatory standing of the portfolio.

• Direct the monthly, quarterly, and annual close process for all multi-family affordable housing properties, ensuring accuracy and timeliness of financial statements
• Oversee preparation and review of property-level and portfolio-level financial reporting for ownership, investors, and lenders
• Lead annual budgeting and periodic reforecasting across the affordable housing portfolio, partnering with property management and asset management
• Manage and mentor a team of property accountants dedicated to the affordable housing portfolio
• Oversee cash management, bank reconciliations, and replacement reserve/escrow accounting for HU- and LIHTC-financed properties
• Coordinate and manage annual audits, cost certifications, and tax return preparation with external auditors and CPA firms. Accountable for timeliness of audits and tax returns
• Prepare annual available cash calculations and waterfalls to investors as well as any mid year calculations
• Review and approve journal entries, account reconciliations, and general ledger activity for accuracy and GAAP compliance
• Maintain and strengthen internal controls over accounting processes specific to regulated, subsidized housing
• Serve as the primary accounting liaison to investors, syndicators, lenders, and housing finance agencies
• Identify process improvements and drive standardization across the accounting function as the portfolio grows
• Working knowledge of Low-Income Housing Tax Credit (LIHTC / Section 42) accounting, including annual cost certifications, minimum gain, and investor equity reporting
• Familiarity with HUD multi-family programs (Section 8 project-based rental assistance, HAP contracts, Section 236, Section 202/811) and HUD's REAC/financial reporting requirements and Public Housing reporting
• Experience with HOME Investment Partnerships Program and other soft-debt/subsidy layer reporting
• Ability to coordinate with compliance staff on tenant income certification processes as they affect revenue recognition and rent restrictions
• Experience supporting regulatory and investor audits specific to affordable/subsidized housing

• Working knowledge of Low-Income Housing Tax Credit (LIHTC / Section 42) accounting, including annual cost certifications, minimum gain, and investor equity reporting
• Familiarity with HUD multi-family programs (Section 8 project-based rental assistance, HAP contracts, Section 236, Section 202/811) and HUD's REAC/financial reporting requirements and Public Housing reporting
• Experience with HOME Investment Partnerships Program and other soft-debt/subsidy layer reporting
• Ability to coordinate with compliance staff on tenant income certification processes as they affect revenue recognition and rent restrictions
• Experience supporting regulatory and investor audits specific to affordable/subsidized housing

• Bachelor's degree in Accounting, Finance, or a related field
• 7–10 years of progressive accounting experience, including multi-family or affordable housing property accounting
• 3+ years in a leadership or supervisory role managing an accounting team
• Hands-on experience with property management accounting software such as Yardi, Real Page, or MRI
• Strong knowledge of GAAP and fund/subsidy accounting as applied to regulated affordable housing properties
• Proven experience managing month-end/year-end close, budgeting, and audit processes for a multi-property portfolio
• Advanced proficiency in Excel and financial reporting tools
• Strong written and verbal communication skills, with the ability to present financial information to ownership, investors, and regulatory agencies
• Housing Credit Certified Professional (HCCP) or Specialist in Housing Credit Management (SHCM) designation
• Experience managing accounting across a multi-state affordable housing portfolio
• Prior experience in a growing organization…