Vice President, Commercial Accounting

US-NY-New York
Job ID
1991
Function
Accounting / Finance
423 West 55th Street

Overview

Related Companies is the most prominent privately owned real estate firm in the United States. Formed over 40 years ago, Related is a fully integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales.

 

Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi, London, and Shanghai and boasts a team of over 3,500 professionals. The Company’s portfolio of over $50 billion in real estate assets owned or under development is made up of best-in-class mixed-use, residential, retail, office and affordable properties in premier high-barrier-to-entry markets. Related has developed preeminent mixed-use projects such as Time Warner Center in New York and CityPlace in West Palm Beach and is currently developing the 28-acre Hudson Yards project on Manhattan’s West Side. Related also manages approximately $4 billion of equity capital on behalf of sovereign wealth funds, public pension plans, multi-managers, endowments, and family offices. Related was recently named to Fast Company Magazine’s list of the 50 Most Innovative Companies in the World.

 

Related also owns Equinox® Fitness Clubs and SoulCycle further expanding the company's capabilities into the health and fitness arena and enhancing the value of its properties through an exclusive, branded amenity and lifestyle offering. Related is a partner in CORE, a boutique residential brokerage. For more information about Related Companies please visit www.related.com.

Responsibilities

The Vice President of Commercial Accounting will work closely with various property Controllers in determining the proper GAAP accounting for the commercial property and Hudson Yards portfolio activity, transactions, and financial reporting.

 

  • Assist in directing activities of 15+ person property accounting team that includes 5 Property Accounting Controllers and coordinating property assignments to all team members
  • Provide direction and guidance to the Accounting team as they perform their duties to ensure timely, accurate and consistent delivery
  • Oversee the timely delivery of 45+ recurring financial reports which includes:
    • annual budgets,
    • CAM reconciliations,
    • reporting on fair market value, GAAP, IFRS or tax basis
    • Lender and institutional partners’ submittals requiring MRI, MS Word and MS Excel software
  • Oversee the annual property and management companies budget coordination together with the Asset Management Team
  • Authorize property disbursements, including electronic banking transmittals (ACH’s, wires, electronic book transfer, stop payments and opening and closing of bank accounts) for managed properties utilizing Treasury Management systems
  • Mentoring of the accounting team for future advancement, and providing day to day leadership, guidance, motivation and support
  • Evaluate structure of property accounting team and make recommendation to improve efficiency and control cost
  • Coordinate activities with Corporate Accounting, Tax and FP&A departments
  • Participate in various technology integration initiatives
  • Maintain control over accounting department property files
  • Work with internal corporate collections and commercial lease administration departments to reduce days outstanding in A/R
  • Manage auditor engagements for completion of annual audit reports for managed properties and ensure the timely distribution to Lenders and partners
  • Liaison with tax accountants to facilitate the timely preparation of Federal and State tax returns for managed properties
  • Streamline intercompany payment of all monthly management fees and salary reimbursements from managed properties
  • Work with Tax Certiorari attorneys and service providers in support of real estate tax appeal efforts and file annual income and expense reports required by municipalities
  • Special projects as assigned by CAO
  • Participate in due diligence efforts as directed by CAO

Qualifications

  • Bachelor’s degree in Accounting, CPA required
  • Minimum of 15 years of public/private real estate accounting experience
  • Ability to handle multiple tasks and work independently with attention to details
  • Clear communicator with ability to interact with senior leaders
  • Mature professional with sound judgment and interpersonal skills
  • Strong analytical ability
  • Excellent written and communication skills

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