Accounting Manager – Development

Job Summary

Reporting to the Director of Finance (DOF), the Accounting Manager – Development (AM-D) manages the accounting of housing projects in various stages of development (e.g. predevelopment, construction, lease-up, etc.), cost certification audit management, and assists with interdepartmental process improvements plus training for both Fiscal and Housing Development (HD) teams as needed. The AM-D is the lead for the Fiscal review of pay draws prepared by the HD teams;

and is responsible for understanding the project proforma, its funding sources/financing, and various regulatory requirements to better facilitate the financial reporting and cash position management of the projects during development phase(s).

The AM-D supervises the Senior Accountant – Development (SA-D) and collaborates with the Assistant Controller – Portfolio (AC-P) and Assistant Controller – Corporate (AC-C) to ensure the development books are timely and accurately completed, fairly stated and intercompany transactions are recorded/reconciled for consolidation purposes. The AM-D also supervises the development accounts payable (AP) process and stays on top of cash position analyses and management of development accounts.

Status: Full-time, Exempt

Location: San Francisco

Hours: Monday - Friday, regular business hours

Salary:$134,900 - $138,000;
Comprehensive benefits

Schedule: Onsite

A private non-profit founded in 1977, Chinatown Community Development Center believes in a comprehensive vision of community. We own and/or manage approximately 30 affordable housing buildings serving over 3,800 low-income seniors, single adults, formerly homeless adults, and families of diverse ethnic and cultural backgrounds in San Francisco’s Chinatown, Tenderloin, Western Addition, and Polk Gulch neighborhoods. We also build housing, develop grassroots leadership, and engage low-income residents and youth.

Our employees are passionate about the mission; thrive in a family organizational culture; and embody values of empowerment, teamwork, and compassion. Chinatown CDC serves a diverse population and is committed to hiring practices that provide culturally competent services. We encourage people of color to apply.

• Manages and oversee day-to-day development accounting operations to produce accurate financial information and reports for required financial reporting compliance and ad hoc reports as requested by funders/investors.
• Analytical review, reconciliations and projections support as needed for project feasibility, regulatory document review, and financial planning of project in partnership with HD and Asset Management teams.
• Participate in annual property and consolidated audits plus cost certification audits by ensuring development books are complete, all year-end accruals are made, and intercompany development transactions are properly recorded on the development books.
• Make continual improvements and standardizing cross-teams processes with pay draws from HD teams and accounting with portfolio accounting teams.
• Review regulatory agreements before and after closings to ensure Fiscal-related compliance items are appropriately addressed plus provide decision-making support to management on both an individual project and organizational strategic level, as well as know what requirements impact the accounting.
• Provide technical guidance and support to the SA-D to ensure compliance with US GAAP and other regulatory requirements.

Real Estate Development Accounting and Fiscal Management

• Manage and lead day-to-day accounting operations, cash management, and financial reporting of housing development projects.
• Oversee development AP process, accounts reconciliations, unposted transaction entries review (e.g. AP, cash receipts, journal entries, etc.), and general ledger maintenance to ensure accuracy of financial reporting in adherence with proper accounting methods, policies, and GAAP.
• Monitor and project cash flow from development bank accounts plus internal (e.g. revolving loan funds, etc.) and external (e.g. loans, investor equity, etc.) funding sources to anticipate funding needs as per…