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Job Description

This candidate will be responsible for the financial oversight of the property management firms engaged to manage the properties. Major responsibilities include monthly review of property financial statements, responding to audit request, preparing annual CAM reconciliations, assisting with project-budget preparation/review, preparing projections and year-end net cash flow calculations.

Hours

Full-time, Mon-Fri, 8-5pm

Location

Iwilei, Honolulu, Oahu

Pay

$70,000 to $80,000 a year

Responsibilities

• Manage long-term financial viability and support the physical live ability of a 27 project, 1903 rental unit portfolio and commercial spaces. The primary function of this position is to assist the Asset Management team in managing the financial aspects for the portfolio.
• Ensure compliance with partnership, limited liability corporation, government, tax-exempt and tax credit regulatory agreements.
• Monitor the accuracy and completeness of monthly financial statements.
• Monthly review of operating financial statements to ensure accrual accounting standards are maintained, management fees are calculated correctly, capital expenditures are properly recorded and related depreciation schedules are updated and prepare related adjusting journal entries if needed. for the property managers to record.
• Monthly review of condo association financial statements to ensure expense allocations are correct.
• Monitor cash accounts for unusual activity and ensure that required monthly reserve contributions are made.
• Prepare quarterly calculations of debt service coverage ratios for each project to ensure compliance with loan requirements.
• Monthly, quarterly, and annual reporting of the portfolio's financials to the Finance committee.
• Monthly, quarterly, and annual reporting of the portfolio's financials to the limited partners and lenders.
• Assist with the review of project and condominium operating budgets prepared by the property management companies.
• Review annual audits.
• Analyze and evaluate portfolio financial progress and recommend necessary changes to the Asset Managers.
• Assist with negotiating contracts affecting the entire portfolio by preparing cost benefit analysis or cash flow projections.
• Assist the Director of Finance with project loan refinancing tasks.
• Assist the Asset Managers in the preparation of the annual capital expenditure needs.
• Monitor cash flow, plan for adequate cash available for emergencies, and track accumulated strategies.
• Work closely with Director of Asset Management and/or Director of Finance in analyzing strategies.

Qualifications

• College graduate, preferably with an educational background n business, finance, accounting, real estate, or related field.
• At least (3) years experience as an accountant, may substitute educational background/field.
• High School diploma with at least ten (10) years of experience as an accountant or bookkeeper may be substituted.
• Ability to read and interpret financial audits, statements and tax returns.
• Ability to review and manage project property budgets.
• Ability to prepare and present various types of presentations to groups.
• Respond to multiple priorities in a busy work environment.
• Ability to work independently.
• Ability to resolve problems and conflicts.
• Must have knowledge of GAAP
• Knowledge of tax exempt bond, government financing, and tax credits