The Assistant Vice President (AVP), Development Accounting, reports directly to the Chief Financial Officer and is responsible for the strategic leadership, management, and oversight of all development/construction accounting functions across the organization's development, construction, and pre-development activities. This position ensures the accuracy and integrity of development-related financial reporting, budget management, draw administration, audit compliance, cash flow forecasting, and team development while supporting operational efficiency and organizational growth.
The AVP serves as a key business partner to Development, Finance, Asset Management, Operations, and Executive Leadership teams to ensure accurate financial management throughout the lifecycle of each project.
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Provide leadership and oversight for the Development Accounting Department, including Development Staff Accountants, Accounts Payable Clerks, Billing Analysts, and related personnel.
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Develop, mentor, and evaluate team members to promote professional growth, accountability, and high performance.
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Assign and balance workloads across the department based on project complexity, staff capabilities, and development needs.
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Establish annual departmental goals, performance expectations, and development plans for team members.
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Foster a collaborative, service-oriented culture focused on continuous improvement and operational excellence.
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Partner with executive leadership to identify opportunities for process improvements, increased efficiencies, and cost reductions.
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Direct all aspects of construction accounting activities for development, pre-development, and construction projects.
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Oversee construction draw processes, reimbursement requests, and funding administration.
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Ensure the timely and accurate preparation of financial workbooks, draw packages, cost certifications, and funding documentation.
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Manage accounting activities related to pre-development costs, construction-in-progress (CIP) accounts, placed-in-service assets, permanent loan conversions, and project closeouts.
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Review and approve construction-related journal entries, reconciliations, and supporting documentation.
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Ensure compliance with company policies, accounting standards, lender requirements, investor agreements, and regulatory guidelines.
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Monitor construction budgets and actual project expenditures in partnership with Development and teams to ensure accurate cost reporting.
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Maintain strong internal controls, audit trails, and documentation supporting all construction accounting transactions.
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Prepare and manage the annual Development Accounting departmental budget and periodic forecasts.
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Develop and maintain revenue projections related to developer fees
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Monitor and report on departmental and project-related profit centers.
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Prepare and present executive-level reporting, including:
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Work-in-Progress (WIP) Reports
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Developer Fee Reports
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Cash Flow Forecasts and Projections
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Open Draw Reports
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Capital Funding and Loan Activity Reports
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Develop and maintain project cash flow forecasts, including funding requirements, investor capital contributions, intercompany financing, and reimbursement schedules.
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Monitor collections and funding activities to ensure adequate project liquidity throughout development and construction phases.
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Evaluate, implement, and optimize development/construction accounting technologies and software solutions to improve efficiency, accuracy, reporting, and scalability.
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Lead system integration initiatives incorporating the use of artificial intelligence
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Continuously assess departmental processes and recommend enhancements to strengthen controls and improve overall performance. Implement AI as appropriate
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Oversee preparation and review of Final Cost Certifications (FCCs) for completed developments.
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Review and approve Placed-in-Service (PIS) and Permanent Conversion journal entries upon project completion and stabilization.
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Assist with preparation and submission of project cost certifications, 8609 applications, and other tax-credit-related compliance documentation.
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Serve as the primary liaison between the company and external auditors, CPA firms, lenders, investors, and regulatory agencies on development/construction accounting matters.
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Coordinate annual audit activities and ensure timely completion of audit requests, schedules, supporting documentation, and reconciliations.
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Provide information and financial analysis required for project cost certifications, audits, and tax reporting.
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Partner closely with Development, Finance, Operations, Asset Management, and Property Accounting teams to resolve accounting matters and support project objectives.
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Ensure efficient transition of projects from construction to operations, including preparation and transfer of accounting and financial records.
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Support executive leadership with special projects, analyses, and strategic initiatives as required.
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Strong leadership, team development, and organizational management skills.
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Extensive knowledge of development accounting principles, job costing, and project financing.
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Strong understanding of construction draws, lender funding requirements, cost certifications, and tax credit compliance.
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Advanced financial analysis, budgeting, forecasting, and reporting capabilities.
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Exceptional analytical, organizational, and problem-solving skills.
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Excellent verbal and written communication abilities.
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Ability to manage multiple priorities and deadlines in a fast-paced environment.
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Demonstrated ability to build effective partnerships across departments and levels of the organization.
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Advanced proficiency in Microsoft Excel, Word, Outlook, and MRI
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Bachelor's degree in Accounting, Finance, Business Administration, or related field required.
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CPA designation preferred.
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Minimum of 10 years of progressive construction accounting experience, including leadership responsibilities.
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Minimum of 10 years of experience managing and developing accounting professionals and support staff.
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Experience with affordable housing, multifamily development, tax credit projects, and construction financing preferred.
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Ability to operate a computer and standard office equipment.
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Remote work model.
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Primarily sedentary work performed in an office environment.
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Occasional travel and attendance at company-sponsored meetings, conferences, training events, and team-building functions may be required, including overnight travel.
