Development Accountant (Foster City Office)

Location: Foster City Office 

Development Accountant 

This position is responsible for the full accounting cycle of development projects and newly placed in service properties in a given portfolio around 10 plus projects with minimum of 6 major on-going projects, including the analytical and reconciliation of all transactions in compliance with US GAAP, MidPen Accounting Policies and Procedures Manual and other statutory requirements, e.g., Low Income Housing Tax Credit rules. 

The Development Accountant works with a variety of team members in Development, Corporate and Property Accounting, Property Management, Asset Management and Resident Services as well as the management team at MidPen.

This is a hybrid position, based on current MidPen policy of working Tuesdays, Wednesdays, and Thursdays in the Foster City Office. Monday and Friday, option to work from home or the office. When working from home, requires a reliable internet connection.

Responsibilities:

• Prepare and submit loan draw requests in a timely manner.
• Track project actual costs and funding usages vs. project budgeted and contracted amounts in Job Cost Module and related interface with various applications. Prepare analysis of budget, contract, and actual variances, as needed
• Perform general ledger analysis for the assigned projects, account reconciliations, monthly close and prepare financial statements
• Prepare annual audit schedules and work with external auditors to complete audit and tax returns and ensure all are filed within timeline of partnership and other applicable agreements
• Collaborate with project managers and other accountants to meet company’s accounting needs and reporting requirements
• Apply and understand the proper accounting treatment under GAAP with accurate documentation and correct recording of transactions.
• Prepare annual audit schedules and works with the external auditors to complete audited financial and prepare cost cert audit with support from accounting managers
• Responsible for reading and understanding all compliance and partnership documents of assigned projects, including regulatory and loan agreements, as well as accounting treatment associated with each document
• Concisely present financial information and appropriately answer accounting questions to management and other users, as requested
• Ensure all inter-entity transactions are in balance. Analyze and clear variances prior to financial reporting close
• Ensure surplus distributions are correctly calculated and appropriately distributed
• Provide ad-hoc reporting, as requested. High proficiency in Excel tools used in analysis
• Perform other duties as assigned

Qualifications:

Education and Experience

• Bachelor degree in Accounting or Business Administration 
• CPA preferred. Strong GAAP knowledge required, and Low-Income Housing Tax Credit knowledge a plus. 
• Minimum of two years of general ledger accounting experience required with increased responsibilities.  
• Experience in accounting for job costs, real estate development, property rehab or construction, preferred. 
• Experience reviewing and ensuring compliance of regulatory, partnership, and loan agreements preferred. 
• Experience using enterprise accounting software and working knowledge of RealPage preferred. 
• High degree of accuracy, accountability and consistency produce quality work. 
• Ability to multi-task and work with changing priorities. 
• Advanced PC applications: Excel, Word, Access, and Outlook. 
• Excellent English written and oral communication skills. 
• Must be able to communicate with diverse parties and promote department teamwork. 

 

Physical Requirements

• Constantly perform desk-based computer tasks
• Frequently sitting
• Occasionally stand/walk, reach/work above shoulders, grasp lightly/fine manipulation, grasp forcefully, use a telephone, sort/file paperwork or parts, lift/carry/push/pull objects that weigh up to 10 pounds
• Rarely twist/bend/stoop/squat, kneel/crawl

 

​​​​​​​Pay Range

$80,000 - $95,000 Annual Salary - Pay based on applicable experience and qualifications