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Manager, Property Accounting

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Los Angeles
 CA
Postal Code
90017
Country
United States

This job is no longer active.

Description


BROOKFIELD PROPERTIES

Brookfield Properties is a leading owner, operator and developer of office and multifamily assets.  Our signature office properties define the skyline of dynamic cities around the world, including gateway cities such as New York, Los Angeles, London, Berlin, Toronto, and Sydney.  Our multifamily business owns, develops, renovates and manages approximately 40,000 high quality rental apartment buildings in supply constrained markets of major cities such as New York and Los Angeles, as well as high growth markets in the suburban U.S.

 

2018 Los Angeles Business Journal “Best Places to work in LA”



JOB DESCRIPTION / RESPONSIBILITIES

 

Responsible for providing timely and accurate accounting services and reporting of day-to-day operations of California Market Center (CMC), managing and executing the financial reporting, budgeting and forecasting process for assigned properties.

 

Responsibilities include:

 

Leadership

  • Take responsibility and ownership of financial results in monthly review and presentation to management.
  • Assist, review and coordinate the workflow of Leasing Administrator, A/R and A/P Supervisors

 

General Accounting

  • Review and analyze general ledgers for respective properties process journal entries, calculate monthly accruals and update balance sheet backup schedules.
  • Review and approve A/P voucher, payroll data entries, A/R adjustments, daily cash receipts journal, etc.

 

Financial Reporting

  • Prepare monthly and quarterly reporting packages for properties and the region for the corporate office
  • Review and prepare necessary reconciliations to balance sheet and income statement in a timely manner.
  • Prepare monthly and quarterly variance analysis and monthly balance sheet analysis
  • Ensure compliance of mortgage loan covenants and reporting requirements
  • Experience with Joint venture partnerships accounting and reporting

 

Audit

  • Prepare detailed year-end financial reconciliations, analyses and working papers
  • Provide accounting detail and assistance to internal/external auditors

 

Forecast and Budgets

  • Prepare quarterly forecasts, invoicing of operating expense recoveries, C.P.I. adjustments and security deposit transactions
  • Preparation of annual budget package, detailed variance analysis, and balance sheet analysis

 

Management of CMC Accounts Payable/Accounting Team

•     Manage the Manager, Accounts Receivables who is supervises a two-member team who is engaged in assessing and billing rent for MART spaces and collection procedures.

  • Manage on site Property Administrator with accounting related tasks such as processing invoices, assisting with department and building budget, and helping the Accounts Payable team.

 

CMC IFRS Bookkeeping

•     IFRS adjustments (Contra out GAAP Adjustments, NBV, Intangible, and record unrealized FMVGain)

 

CMC Investment-Level Bookkeeping-

  • Investments, Equity, Eliminations, Preferred Returns, Non-controlling interests, and consolidations.
  • Structuring consolidation reporting for equity pick-ups.
  • Maintaining US GAAP ICA Book for any IFRS reconciliation adjustment such as Fair Value Adjustment on Debt, Deferred Financing Costs Expenses, etc.

 

CMC Quarterly Financial Reporting-

  • Completing BPG Reporting Package by 3 phases including FFO variance analysis, Balance Sheet, Current vs non-current assets and liabilities, Income Statement, OCI, Equity Roll, lntercompany & related party balance details, IFRS to US GAAP ICA Reconciliation, Business Combinations, Cashflow Details, CF Checks, Continuities, EAi/JV and participating loan note disclosures, Geographic disclosures and risk exposures, Asset held for sale, Fair value of financial instruments, FV vs. other basis; Contributions; Sustaining CapEx, Inventory, Provisions, Available for sale, Financial instruments-netting, Derivatives & Hedging, Contractual, Post employ benefits; Related parties; Asset  pledged as collateral.
  • Completing BPY quarterly result excel including FFO actual vs forecast, Income Statement, Balance Sheet variances, Cash Flows.

 

CMC Quarterly Risk Reporting-

  • Completing BPG Risk Template
  • Generating Chatham loan analytic reports for reconciling/supporting BPG Risk Template.
  • Onboarding existing/new loans using Chatham's NOT template and provide loan documents.
  • Completing loan details/covenants/financial guarantee

 

CMC Quarterly Leasing Stats Reporting-

  • Completing BPG Leasing File, Analyzing Occupancy, and Expiry Profiles

 

CMC Quarterly Forecast Reporting-

  • Completing BPG Quarterly Forecast Template, Variance comments on forecasted quarter vs. prior quarter actual, annual business plan vs. annual forecast, prior year quarter actuals vs. forecast.

 

Supporting CMC BSREP Reporting/Valuation Memo Requirements­

  • 3rd-party management company such as CBRE.
  • Providing working capital projections quarterly.
  • Calculating Average In-Placed Rent quarterly based on individual tenant lease data for property stats tab.
  • Calculating Average Market Rent quarterly based on Business Plan and Argus Model Assumptions.
  • Completing track record equity roll, gross asset value bridge.

 

QUALIFICATIONS:

 

  • Bachelor of Science in Business Administration – Accounting/Finance; CPA preferred but not required.
  • Strong accounting skills with in-depth knowledge of US GAAP; IFRS knowledge a plus (specifically real estate).
  • 3 + years of public accounting and/or commercial real estate accounting experience preferred
  • Communication, presentation and interpersonal skills
  • Strong analytical ability
  • Effective communication and organizational skills; ability to handle multiple priorities, self-starter
  • Understanding of property management in relation to financial accounting, recoveries, budgeting and forecasting
  • Proficiency in PC based software. Must have experience working with Yardi. Experience in CTI and /or Hyperion a plus.
  • Ability to work on a computer for up to 10 hours per day and perform data entry.
  • Heavy work schedule is required quarterly and year-end close
 

Job Sector


 

Experience


2+ to 5 years


This job is no longer active.

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