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American Real Estate Partners (AREP) · 4 months ago

Senior Construction Project Accountant

McLean, VA

Full-time

Onsite

Senior Level

5+ years exp

American Real Estate Partners (AREP) is a leading institutional fund manager and real estate partner headquartered in the Greater Washington area. They are seeking a Senior Construction Project Accountant who will be responsible for managing project accounting for various construction projects, ensuring cost control, compliance with contracts, and accurate reporting of project financial performance.

Real Estate

Responsibilities

Perform Project Accounting for various construction project types including interior, capital building renovations and development work within the Job Cost Module of the Financial Accounting system. To include managing project budgets, ensuring cost control, application of costs to budget line-items and to ensure adherence with all Company policies, procedures, and internal control requirements

Review daily assigned projects to maintain accuracy of project budget and project timeline. To ensure project costs are aligned with the project forecast & schedule. Track any changes, including scope modifications or unforeseen issues that can impact the budget and/or funding sources

Review and manage contracts to ensure compliance with project scope and legal requirements and adherence to contractual terms. Reconcile contract costs for each project to ensure accurate monthly billings to meet company and lender requirements

Review daily Accounts Payable batch posting for accuracy to ensure proper coding job, contract, cost code including review of all pay applications, release of liens, insurance certificates, bonds, etc. For accuracy before posting cost to the project and G/L

Prepare monthly draw Packages in accordance with Lender requirements for review and approval

Reconcile and monitor capital funding to ensure timely payment of construction invoices Prepare weekly job cost payable packages for review and approval

Prepare, analyze, and distribute monthly job cost reports for assigned projects to identify any mis-coded costs, over/under billing analysis and monthly project accruals. Report on project financial performance, including any changes or variations to original cost estimates

Identify potential risks to project cost, schedule, or quality and implement mitigation strategies to minimize impact

Perform monthly budget revisions and job costs adjustment in conjunction with the review of the Monthly Job Costs Reports and the General Ledger accounts to ensure accurate monthly project costs

Review monthly construction/development management fee invoices to ensure accuracy of the fee calculation

Review Project forecast and analyze actuals vs forecast costs to ensure accuracy of over-all recorded costs and remaining costs to complete budget against projects equity/ lender escrow budgets to identify cash needs

Perform project close out reviews to include accounting and construction systems as well as audit project documentation to ensure correct cost & fee analysis each quarter

Work cohesively with extended project teams including Accounting, Construction, Property Management and Asset Management

Respond to internal customers' daily inquiries relating to assigned projects

Ensure all deadlines from extended Project Team are met for all monthly accounting deliverables to ensure timeliness of the property financial reporting package

Provide support as requested

Qualification

Project AccountingConstruction AccountingBudget ManagementContract ManagementMicrosoft OfficeAutomated Accounting SystemsData Center ExperienceCommercial Real EstateCommunication SkillsAttention to DetailTeam Collaboration

Required

Minimum of 5 years of project accounting experience

Minimum of 3 plus years in construction accounting

Relevant experience in commercial real estate and/or general contractor field strongly preferred

Ability to read and interpret documents such as contracts, construction pay applications, correspondence, reports, and procedure manuals

Strong written and oral communications

Highly proficient in Microsoft Office (Outlook, Word and Excel)

Demonstrated understanding of automated accounting systems -- MRI, Yardi along with Construction Systems such as Procore, JD Edwards, Trimble and SAGE, etc