Lease Accounting Manager

About The Job

(Job Summary)

The Lease Accounting Manager will be responsible for overseeing and managing the accounting processes related to Common Area Maintenance (CAM) for retail shopping malls, including general ledger maintenance, monthly financial analysis, budgeting and forecasting, reporting to joint-venture partners, and year-end close procedures. This position also involves collaboration with internal teams and external partners to ensure financial accuracy and provide insightful financial reporting. The Lease Accounting Manager will also play a role in lease administration, accounts receivable functions, and ensuring timely and accurate reporting in compliance with lease agreements.

What You Do

(Duties/Responsibilities)

• General Ledger Maintenance:
• Review and maintain the general ledger accounts for assigned properties, ensuring accuracy and completeness of financial data.
• Ensure all transactions are properly recorded and that the financial information is up-to-date.
• Monthly Financial Analysis:
• Prepare and update monthly financial analysis, including variance analysis and commentary on discrepancies between budgeted, forecasted, and actual figures.
• Provide detailed financial insights to assist internal teams with decision-making.
• Budgeting & Forecasting:
• Prepare the annual operating budget for assigned properties, ensuring accuracy in projections and alignment with financial goals.
• Update periodic financial forecasts and adjust based on actual performance and emerging trends.
• Reporting to Joint-Venture Partners:
• Prepare and distribute reporting packages to joint-venture partners as required by ownership for assigned properties.
• Ensure all reporting is timely, accurate, and in compliance with partnership agreements.
• Year-End Close:
• Participate in the year-end close process for assigned properties, ensuring all financial tasks are completed in a timely and accurate manner.
• Reconcile year-end accounts and finalize all financials for audit purposes.
• Internal Reporting & Collaboration:
• Distribute financial reports to internal teams, including property management and leasing departments, providing support in reviewing, analyzing, and interpreting financial results.
• Collaborate with these teams to ensure that financial reporting aligns with operational performance.
• Audit Assistance:
• Assist external auditors with annual and special audits, providing necessary documentation and explanations for financial transactions.
• Ensure compliance with applicable accounting standards and internal controls.
  

This job description does not imply that the listed duties are the only responsibilities to be performed by the employee in this position. Employees may be required to carry out other job-related tasks assigned by their supervisor or management.

(Requirements)

What You Bring to the Table:

• Education: Bachelor’s degree in Accounting, Finance, or a related field.
• Experience: 2-3 years of accounting experience, preferably in property management, CAM accounting, or retail real estate.
• Additional Skills:
• Knowledge of property accounting principles, CAM billing practices, and lease administration.
• Strong attention to detail and ability to work independently in a dynamic
• Analytical & Interpersonal Skills:
• Strong analytical abilities to interpret complex financial data and provide actionable insights.
• Excellent interpersonal skills to effectively communicate findings to both finance professionals and non-financial stakeholders.
• Attention to Detail:
• A high degree of attention to detail to ensure financial accuracy, integrity, and completeness in all tasks.
• Adherence to Timelines:
• Ability to meet strict deadlines for month-end, year-end, and other critical reporting periods.
• Capable of managing multiple tasks simultaneously while ensuring accuracy and timeliness.
• Proficiency in Accounting Software:
• Strong proficiency with accounting software (e.g., Yardi, MRI, or similar property management/accounting systems) and advanced spreadsheet applications (Excel).
• Ability to leverage technology to streamline processes and enhance reporting accuracy.
• Effective Communication :
• Clear and effective communication skills, with the ability to explain financial data to both finance professionals and non-financial teams.
• Capable of presenting complex financial concepts in an easy-to-understand manner.