COMPANY OVERVIEW:

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Stoneweg US, one of the nation’s fastest growing multifamily real estate investment and development companies, is currently seeking a Development Accounting Manager.  Stoneweg US, based in the Tampa Bay area in Florida, serves as exclusive investment manager of Varia US Properties AG, a Swiss, publicly traded real estate fund (SIX Swiss Exchange ticker: VARN) and also partners with US and international equity investors to acquire and develop multifamily assets in markets with strong population growth and positive trending economic conditions as part of separate Stoneweg US investment funds.  The Stoneweg US team challenges the conventions of real estate investment through a research-driven, results-oriented approach that has led to the successful deployment of over $500 million of equity and the acquisition of over 18,500 multifamily units since 2016.  The Company plans to remain focused on this aggressive growth strategy for 2023 and beyond. 

 

POSITION:

The Development Accounting Manager will perform a wide variety of finance and accounting duties including preparing, maintaining and reconciling financial transactions and reports for development projects, preparing loan draws for funding, assisting with external audits / reviews, and will have significant interaction with third parties and investors. The position will lead these activities for a planned 1,500+ units in various phases of construction from pre-acquisition to stabilization. This position will work with the Stoneweg development team which oversees development projects and land acquisitions. This will be an exciting new role with opportunities to take on additional responsibility as the Company continues to grow.  This position will work closely with and supervise the Development Senior Accountant and will report to the Senior Director of Finance in our St. Petersburg, FL corporate office.

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The ideal candidate will be deadline-driven, have a strong attention to detail, and have  the ability to build and foster relationships inside and outside the organization. The candidate will be an energetic, motivated self-starter with a hands-on approach.  This person will be results-oriented and able to excel in a fast-paced, entrepreneurial environment that requires the ability to adjust to shifting priorities and accomplish multiple tasks.

 

RESPONSIBILITIES / DUTIES:

• Responsible for accounting functions for development projects during pre-development and construction phases

• Prepare and monitor monthly budgets versus actuals reporting for job costs in conjunction with the development team

• Ensure required lien releases are obtained and follow up with the development team and the GC as necessary

• Prepare monthly draws for funding and work with the construction lenders to ensure timely payment

• Prepare and work with the development team on forecasting cash needs for each project

• Consolidate the cash needs for the various projects and request funds from ownership or other available funding sources as needed

• Work with the Treasury, FP&A, and Fund Management teams to ensure that the forecasted cash needs are communicated appropriately for inclusion in fund and corporate level forecasts

• Assist with monthly, quarterly and year end close activities, from balance sheet/cash account reconciliations to financial statement preparation for corporate / consolidated ledgers

• Lead the processes to ensure the timely preparation of required annual deliverables including audits / reviews and tax returns with third-party preparers

• Compile and process time-sensitive analysis during monthly close

• Responsible for adhering to existing policies and procedures as well as designing and implementing improvements for the development accounting function

• Perform special financial analysis and research records as directed

• Review GAAP statements when needed to ensure financial statement accuracy

• Assist in budget preparation and reporting

• Partner with others in accounting and other departments to assist and solve problems / issues

 

REQUIREMENTS:

• Bachelor’s Degree in Finance, Accounting or Economics required

• Experience with real estate development or construction cost accounting required

• Ability to read and interpret legal and corporate agreements and document reporting hierarchy

• CPA highly preferred

• Exceptional interpersonal / communication skills

• 5+ years’ experience in very relevant roles

 

SKILLS/KNOWLEDGE/QUALITIES:

• Proven ability to own processes and actively engage in process improvement efforts with input from team members

• Knowledge of job cost systems required (Yardi, Sage, etc.)

• Self-starter with little supervision needed

• Ability to adapt to change and solve problems

• Proactively engage in process improvement/automation

• Ability to communicate effectively with others in a professional manner

• Ability to effectively compose business correspondence and other related materials

• Organized, detail oriented, and exceptional time management skills are required

• A desire to learn and take on increasing levels of responsibility

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COMPENSATION:

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The chosen candidate will receive a competitive salary and be eligible for our bonus program, and excellent benefits package which includes medical, dental, vision and a matching 401(k) plan.

 

CONTACT:

Qualified candidates should email their resume to the following address: jobs@stoneweg.com 

For a PDF version of this job description please click here. 

 

 

 

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