Controller-Real Estate

Fifth Avenue Committee

Description
The Controller position reports to the Director of Finance and IT and works closely with the Director of Asset and Property Management. This position is responsible for all areas related to the financial oversight and reporting of FAC's property management portfolio and the corresponding subsidiary and affiliate ownership entities. The Controller supervises the Realty Accounting Clerk, other assigned Administrative and/or Accounting staff, and works closely with external auditors. Position is responsible for managing the team to ensure that work is properly allocated and completed in a timely and accurate manner. The Controller works closely with FAC's Director of Finance and IT to coordinate the annual audits and collaborates with the Director of Asset and Property Management, the Director of Real Estate, the Director of Finance and IT and the Executive Director, to provide analysis of the financial performance of our management and development portfolio.

Responsibilities:

• Maintain a thorough understanding of the reporting requirements and procedures required by subsidy sources, lenders and grant sources of our affordable housing and community facilities.
• Ensure proper and timely recording of all account transactions both payable and receivable with proper checks and balances procedures in place.
• Perform and oversee the work, ensure accuracy, and cause the submission of: Day-to-day management of general ledger including reviewing and posting entries to ensure accuracy of properties' financial records.
• Monthly reconciliation of Accounts Receivable and Accounts Payable schedules to the General Ledger.
• Monthly reconciliation of bank statements to the General Ledger and regular verification of bank deposits.
• Monthly Budget-to-Actual preparation.
• Quarterly vacancy loss reconciliation and report.
• Create a monthly and annual schedule to accomplish the above.
• Submission of Quarterly Reports to syndicators, funders, and regulatory agencies in coordination with the Director of Asset and Property Management.
• Initiate, plan, and oversee the preparation of the Audits and Year-End Closing for FAC's subsidiary and affiliate corporations, which will be performed independently or in direct collaboration with the Director of Finance & IT, as needed.
• Work with Director of Asset and Property Management and other FAC Senior Staff to provide financial analysis of the performance of FAC managed properties and prepare and enter into Yardi, annual project budgets.
• Develop and monitor internal controls for risk management and fraud control.
• Work with the Director of Asset and Property Management to maintain proper insurance coverage and tax abatements on all properties, ensuring proper renewal, negotiating terms and conditions,
• Advise Property Management of any inspections and report any incidents which could result in a claim.
• Assist Director of Finance & IT in maintaining our commercial banking relationships for all of our building operating accounts, review the accounts on a daily basis, coordinate any additional banking services such as internet deposits in coordination with Director of Finance & IT.
• Set up and maintain (new accounts ledger, new projects, bank accounts, etc.) of Yardi Voyager accounting software.
• Supervise assigned staff and project manage assigned external vendors effectively and as per policy.
• Other duties as assigned.

Qualifications:

• Bachelor’s Degree in Accounting or related field required.
• Minimum of three years of post-graduate experience in real estate finance and operations prefererd..
• Supervisory experience preferred.
• Yardi management software experience a plus.
• Good communication skills and ability to work in a diverse team environment.
• Demonstrated commitment to FAC's mission of economic and social justice.

How TO APPLY:
E-mail cover letter with resume and salary history by February 22nd, 2013 to the email address below and be sure to indicate "Controller" in the subject line.

Controller - Real Estate Fifth Avenue Committee 621 DeGraw Street Brooklyn, NY 11217

Email: jobs@fifthave.org Please, no phone calls. For more information, please visit www.fifthave.org

About Organization:
Fifth Avenue Committee (FAC) is a 35 year-old nationally recognized South Brooklyn- based community development corporation formed in 1978 that works to transform the lives of over 5,500 low and moderate income New Yorkers annually so that we can all live and work with dignity and respect while making our community more equitable, sustainable, inclusive and just.

FAC's mission is to advance economic and social justice by building vibrant, diverse communities where residents have genuine opportunities to achieve their goal as well as the power to shape their future. To achieve our mission, FAC develops and manages affordable housing and community facilities, create economic opportunities and ensures access to economic stability, organizes residents and workers, offers student- centered adult education and combats displacement caused by gentrification. We have developed over 800 units of affordable housing, creates job-training programs that have helped thousands of people get good jobs, and organized community residents to win public policy changes. In addition to our grassroots neighborhood work, we are actively involved in broader coalitions and campaigns.

FAC’s Asset and Property Management and Finance Units manage nearly 600 units of affordable, mixed-income and mixed use properties financed through a range of federal, state and local government and private financing including low-income housing tax credits and support by Section 8 and other government subsidy programs in a growing portfolio. The Finance Unit also supports affordable, mixed income and mixed use properties in development.

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