Property Accounting Analyst

Property Accounting Analyst

Wellington Management, Inc. is an established 40-year-old real estate management firm managing a portfolio of 100+ commercial and residential buildings in 24 communities of the Twin Cities Metropolitan area.

Our core business is built around managing property, and we exist to grow the metro that grew us through careful planning, development and project management.

We are hiring a Property Accounting Analyst to collaborate with our property managers to support day-to-day property operations, to provide ongoing analysis of property performance and trends to senior leadership, and to effectively communicate with all stakeholders inside and outside of the company. The position will focus on our commercial portfolio, though support for our residential portfolio may be required as well.

Responsibilities

The Property Accounting Analyst is responsible for the execution of the full real estate accounting cycle and integrity of the financial data being produced, which duties include but are not limited to:

• Perpetually reforecast property cash flows during the year, communicate potential cash flow issues with senior leadership and provide ad hoc financial analysis as required
• Complete annual budgets with property managers, and present budgets to senior leadership and owners
• Prepare, review, and issue timely and accurate financial statements on a monthly basis
• Alert senior leadership of any property performance problems as they become known, and provide actionable recommendations to solve the matter
• Be comfortable reading leases and loans, and ensure proper adherence to all lease terms and loan covenants
• Actively manage accounts receivable and communicate potential issues with property managers
• Ensure the property is making prompt on-time payments, confirm payable coding against budget and provide ongoing variance analysis
• Meet with property managers monthly to review property performance and adjust projections
• Monitor cash positions and accurately update the accounting system and general ledger on a daily basis
• Provide our outside CPA firms with the required information needed to complete their annual audits/compilations and tax returns for our assets
• Perform CAM administration
• Reconcile bank statements
• Support property managers with site projects, including construction draws and lien waivers

In addition, a qualified candidate will be able to:

• Communicate directly with stakeholders in an effective manner
• Engage in the process of onboarding new properties
• Assist our finance and legal teams with questions and projects as needed
• Stay up to date with changes to the accounting software, accounting/tax regulations and real estate industry trends

Qualifications

• Bachelor's degree in Accounting, Business, Real Estate, or another related field
• Minimum three years of progressive commercial and/or residential real estate accounting experience
• Exemplary Excel skill and the ability to run an Excel spreadsheet confidently in front of a large group
• Strong analytical and creative problem-solving skills
• Excellent written and verbal communication
• Expertise of the Yardi software package used by the company
• Ability to present and synthesize complex topics to all levels of the organization and to outside stakeholders
• Curiosity, a genuine desire to learn more
• Excellent time management skills, including the ability to adequately manage a work calendar
• Highly motivated and self-directed
• Strong leadership, teamwork and collaboration skills
• Highly organized with great attention to detail
• Adaptable to change

Working Environment

This is an on-site position located at Wellington Management’s St. Paul headquarters, with ample free parking. The position may occasionally be required to travel to property sites.

This position requires the capacity to work occasional overtime, especially during the budget and tax seasons.

Typical of a corporate office setting, Wellington Management’s office space includes frequent co-worker interaction and corresponding noise levels, and is subject to inside environmental conditions.

This role

• is a standard office work role, which includes frequent sitting and occasional walking and/or standing; stand up desk equipment is available upon request
• involves frequent usage of a telephone, PC and standard monitors
• has minimal lifting requirements

Some positions require local business travel, almost always within 45 minutes of the office, when needed to visit properties/sites.

Wellington Management offers a competitive salary commensurate with experience, including performance-based bonus opportunities. Other benefits include:

• Medical, dental, and vision insurance, Health Savings Account, short-term and long-term disability
• 401k, including employer contribution.
• Paid time off, paid holidays
• Annual educational assistance
• Donation matching program