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Development Controller

Location:

Salt Lake City, UT


Company Description:

Our client is developing and building a new private mountain resort which will offer skiing, golf and other amenities and is located in the Wasatch Mountains north of Salt Lake City. The development encompasses 12,000 acres including 3,000 skiable acres of terrain and a private community being developed under a multi-phase 10-15 year buildout.


Position Description:

This position is responsible for direct oversight of the development and construction accounting.  Responsibilities include creating and implementing policies and procedures to identify, resolve and document accounting issues in addition to creating procedures to make the close and reporting processes more efficient and accurate.

 RESPONSIBILITIES:

  • Timely preparation, review, and distribution of all financial reporting packages for both internal and external distribution.
  • Maintain financial statements in a multi-entity environment.
  • Oversee the processing of all monthly draw submissions to the lender.
  • Oversee the accounts payable workflow / approval process for all contractors and vendors.
  • Oversee communication between the development team and the General Contractor/Subs regarding billing issues.
  • Review all monthly job cost reconciliations.
  • Work with the development / construction accountant to complete the monthly accounting close process including analytical review of the monthly operating results to ensure accurate accounting records are maintained and all variances are identified.
  • Oversee cash management functions for all operating entities and all development/construction projects. Ensure completion of all bank reconciliations.
  • Maintain general ledger accounts for all projects under construction and the operating entities.
  • Work with the development / construction accountant to ensure accurate and timely preparation of job cost data from weekly payroll reports, materials, and subcontract billings to prepare weekly cost reports for each project.
  • Approve wires, ACH payments, and intercompany transfers.
  • Interface with bank on all issues pertaining to the company including the setup of all new accounts.
  • Process and reconcile all capital calls and payments and updating of the investor portal.
  • Oversee all distributions and intercompany payouts (monthly, annually).
  • Oversee the accounts payable function for the development/construction company as well as all projects in development / construction. Ensure that all subcontractors and vendors meet all requirements of contract agreement prior to any payments.
  • Preparation of work papers supporting the annual audit.
  • Coordinate the preparation of annual tax return with outside CPA firm.
  • Review workload and analyze staffing requirements; interview, select, train, counsel and evaluate staff to ensure effective support; review the efforts of staff and provide direction where needed, ensuring timely completion of task and projects in accordance with objectives.
  • Provide ad hoc reporting as required by the Management team and Development Team on the operating entities and development / construction projects.

REQUIREMENTS:

  • Requires Bachelor’s degree in accounting, MBA or CPA preferred.
  • Requires 10 years of experience in financial management with increasing responsibilities for multi-faceted direction and planning.
  • Previous hands-on Accounting experience in a real estate development or construction company is required. Experience in a multi-company operating environment.
  • Requires 2 years of supervisory experience overseeing a team of project accountants.
  • Requires a solid understanding of Generally Accepted Accounting Principles (GAAP) and accounting pronouncements.
  • Must possess strengths in verbal and written communications; able to adapt communications / presentations and deliver clear and concise reports and analysis to senior management.
  • Yardi Construction software experience preferred.
  • Highly proficient in Excel.

To learn more about this position, contact: Margie Arcangelo | (239) 362-1335 | margie@crownsearch.com

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