Development Accountant

Schedule:

Full-Time | Hybrid as Applicable

Our client, a leading real estate developer, is seeking a talented and motivated Development Accountant to join its accounting and finance team in San Mateo, California.

This is an excellent opportunity for an accounting professional who enjoys working with numbers while also gaining exposure to the full life cycle of real estate development projects. In this highly visible role, you will be responsible for the accounting and financial reporting for a portfolio of approximately 10+ active development projects and newly placed-in-service properties.

The Development Accountant will work closely with professionals across Development, Property Accounting, Property Management, Asset Management, and Finance, giving you the opportunity to understand both the accounting and operational sides of real estate development.

This position is ideal for someone with a strong foundation in general ledger accounting who is ready to expand their experience into development accounting, construction/job costing, project financing, loan draws, budgeting, and real estate financial reporting.

As a Development Accountant, you will take ownership of the accounting and financial reporting for your assigned portfolio of development projects. Your responsibilities will include:

• Manage the full accounting cycle for assigned real estate development projects and newly placed-in-service properties.
• Maintain accurate project accounting records and ensure transactions are properly recorded in accordance with US GAAP and company policies.
• Prepare and process construction and development loan draw requests, ensuring supporting documentation is complete and accurate.
• Monitor project costs, funding activity, construction contracts, commitments, budgets, and available funding.
• Review invoices, project expenditures, and cost allocations to ensure expenses are recorded to the appropriate projects and accounts.
• Perform general ledger analysis, account reconciliations, journal entries, and monthly close activities.
• Prepare monthly, quarterly, and annual financial reporting for assigned projects.
• Analyze budget-to-actual results and investigate significant variances, unusual transactions, or discrepancies.
• Partner with development teams to understand project activity, upcoming costs, funding requirements, and changes to project budgets.
• Prepare schedules and supporting documentation for annual audits, tax filings, and other financial reporting requirements.
• Ensure compliance with applicable partnership agreements, loan agreements, regulatory requirements, and internal accounting policies.
• Reconcile intercompany transactions and balances and work with internal teams to identify and resolve discrepancies.
• Assist with the transition of completed development projects into stabilized property operations and property accounting.
• Maintain organized and accurate documentation related to project costs, financing, contracts, and accounting activity.
• Provide management with ad-hoc financial analysis, reporting, and special-project support as needed.

The successful candidate will have a strong accounting foundation, excellent attention to detail, and the ability to manage multiple projects and deadlines in a fast-paced environment.

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.
• Minimum of 2+ years of general ledger, corporate accounting, property accounting, construction accounting, or related experience.
• Strong understanding of US GAAP and fundamental accounting principles.
• Experience with account reconciliations, journal entries, general ledger analysis, and month-end close.
• Strong analytical and problem-solving abilities.
• Advanced proficiency in Microsoft Excel and comfort working with large amounts of financial data.
• Excellent organizational skills with the ability to manage multiple projects, priorities, and deadlines simultaneously.
• Strong written and verbal communication skills.
• Ability to work effectively both independently and as part of a collaborative, cross-functional team.

Candi…