M & J Wilkow is seeking a Senior Accountant in its Corporate Office in Chicago, IL. The Senior Accountant performs a variety of professional level accounting duties in support of diverse portfolio of retail and office properties, including preparing and analyzing financial statements and monthly close of the general ledger. The position is responsible for the overall financial accuracy of property management reports, financial statements, journal entries and general ledgers. This position is an in-person role.
Essential Functions/Major Responsibilities
- Prepare monthly journal entries and monthly general ledger close, including the investigation, verification and reconciliation of all general ledger accounts on assigned property trial balances with sub-ledgers and/or appropriate support schedules (including maintaining the fixed asset database and recording of depreciation and amortization).
- Prepare/Analyze financial statements for an assigned real estate portfolio (including working with property management staff in the preparation of accrual entries at month end) of five to seven assets
- Review general ledger for unusual variances, prepare reclassifications and make necessary journal entries to make sure the financial statements are fairly stated and facilitate the publication
- Analyze mortgage agreements, partnership agreements, property/asset management agreements, and cash management agreements to determine proper accounting requirements and compliance items and prepare compliance submissions as necessary on a timely basis
- Utilizing closing settlement statements, preparing and recording the journal entries for the acquisition, financing and disposition of real estate assets and analyze sale agreements for post-closing transactions.
- Read lease agreements to verify lease abstracts/summaries and implement set-up of lease terms in MRI/Yardi and related recoveries for new or amended leases.
- Prepare/review monthly AR Reports and management fee calculations in accordance with property management agreements.
- Participate in the preparation of annual budgets and annual tenant expense reconciliations (CAM & RET.)
- Prepare quarterly/annual work paper packages and participate in annual audit process.
- Communicate with A/P and A/R Clerks to discuss collections and bank reconciliation issues.
- Prepare escrow draw packages in accordance with loan documents.
Specific Job Skills
- Strong knowledge of generally accepted accounting principles and income tax basis accounting; experience with year-end audits
- Ability to analyze, evaluate and act on issues and/or problems, reach sound conclusions, take appropriate action and communicate results to all relevant parties including financial partners and property team members.
- Good presentation skills - verbal, written and interpersonal communication skills, as well as good computer skills. Proficient in Microsoft Office. Experience with MRI and Yardi preferred
- Excellent organizational and time management skills; strong attention to detail and commitment to meeting deadlines
Education and/or Experience
- Bachelor’s Degree in accounting or related field
- A minimum of 3-5 years of property accounting experience with 1-2 years at the senior level preferred
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