Arch Companies is a New York City based real estate investment, development, construction, property and asset management firm active across the United States with a concentration on primary and secondary markets. Arch Companies seeks candidates who can work in a collaborative environment and possess drive, integrity, creativity, and a strong work ethic.
Arch Companies is seeking a Director of Accounting. The position will be based in our NYC headquarters. The Director of Accounting reports directly to the Managing Director. The Controller must be a flexible and adaptable team-player with strong organizational, managerial and communication skills.
Principal Duties and Responsibilities
- Responsible for all aspects of the portfolio wide accounting functions, comprising of residential, commercial, ground up development, debt financing and corporate entities.
- Assist with the day-to-day operations of property corporate accounting functions in a manner which promotes teamwork and encourages continuous improvement.
- Supervise and develop accounting procedures for accounts receivable, accounts payable, cash management & payroll.
- Leadership of various levels of staff, property, and project accountants
- Liaise with 3rd party management firms and their finance teams to give guidance and ensure policies and procedures are followed.
- Give direction to the accounting team on internal month and year end close processes as it relates to corporate allocations, financial statement preparation, accruals, review and approve journal entries and work papers. Calculate and issue financial analysis on the financial statements to management.
- Set priorities and expectations on teams’ engagement for various projects.
- Planning, organizing and coordination of the month and year end close out of financial records for external parties such as lender, investor, and partner reporting requirements. Liaise with numerous CPA firms to provide all data necessary for numerous property and partnership level audits as we all as tax filings.
- Maintain and scrutinize internal controls for continuous improvement.
- Review and evaluate current and future cash requirements for internal purposes and 3rd party covenants. Make necessary cash transfers for short term cash requirements. Coordinate and track corporate cash transfers
- Assist with implementing, and continued maintenance of the annual budget / calculate variances from the budget and report significant issues to management
- Comply with local, state, and federal government reporting and tax requirements
- Support management team with onboarding all newly acquired assets for uninterrupted operations. Migrate new portfolios to accounting software in a timely fashion and ensure accuracy of COA, ledger, and opening entry.
- Maintain full cycle investor equity tracking from contribution and distribution to final liquidation. Arrange incoming and/or outgoing cash transfers between investor or partner entities and property for capital events. Direct team on proper documentations and journal entries. Field investor inquiries regarding tax treatment of deal transactions as well as tax reports.
- Ensure accurate and timely completion of the company’s tax filings for corporate, property, and investor entities. Must have comprehensive understanding of various tax structures and their effect on related parties to ensure compliance and optimal tax treatment.
- Responsible for all aspects of partner level tax planning, wealth management & tax filing. A deep understanding of partnership accounting treatment specifically in the real estate industry is essential.
- Administer new entity formations and respective government and tax agency paperwork. Organize bank account opening process and access for the team. Confirm all parties have required accounts and proper level of access with sensitivity to confidentiality.
- Assist acquisitions team with accounting diligence and tax strategy on prospective acquisitions.
- Ensure efficient and accurate intercompany receivables, payables, and money movements. Preside over inter-department communication and transactions to facilitate.
- Review and provide feedback on variety of legal or loan agreements for finance and accounting related accuracy.
- Post entries for corporate accounts payable, accounts receivable, payroll, & partners capital accounts. Partner and corporate bank account and credit card reconciliations. Perform periodic reviews of corporate expenses to ensure inter-company allocations are up to date.
Experience, Skills and Abilities Required
- Minimum 7 years prior relevant experience, real estate industry a must
- Bachelor’s degree in accounting or business administration or another similar field
- Experience with a reputable CPA is preferred
- Exceptional knowledge of finance, accounting, cost accounting and Generally Accepted Accounting Principles (GAAP)
- Advanced knowledge of bookkeeping and accounting best practices, laws, standards, and state/national regulations
- Proficient in Microsoft Office Suite and Quickbooks
- Experience with general ledger functions and the month-end/year-end close process
- Ability to keep records and files organized, keen attention to detail
- Competent collaborator and skilled cross-functional communicator
- Strong time manager with respect for deadlines
- Self-starter, dedicated and professional demeanor
- Ability to build and foster a strong team environment
- Excellent oral and written communication skills
- Highly ethical with an ability to maintain and safeguard sensitive information
7+ to 10 years
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