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About the Role

The Accounting Manager – Development (AM-D) manages the accounting of housing projects in various stages of development, oversees cost certification audits, and assists with interdepartmental process improvements and training. This role is crucial for understanding project proformas, funding, and regulatory requirements to manage financial reporting and cash flow during development phases. The AM-D supervises the Senior Accountant – Development and collaborates with other controllers to ensure timely and accurate completion of development books.

Responsibilities

Manages and oversees day-to-day development accounting operations to produce accurate financial information and reports.
Conducts analytical reviews, reconciliations, and projections for project feasibility, regulatory document review, and financial planning.
Participates in annual property, consolidated, and cost certification audits.
Implements improvements and standardizes cross-team processes for pay draws and accounting.
Reviews regulatory agreements to ensure Fiscal-related compliance and provides decision-making support.
Provides technical guidance and support to the Senior Accountant – Development.
Manages and leads day-to-day accounting operations, cash management, and financial reporting of housing development projects.
Oversees development AP process, account reconciliations, and general ledger maintenance.
Monitors and projects cash flow from development bank accounts and funding sources.
Collaborates with Housing Development teams to develop/schedule/anticipate project draw review and coordinate intercompany transactions.
Reviews anticipated timeline of incoming deposits and outgoing payments with Senior Accountant – Development and AP Accountant.
Reviews revolving housing advance funding balances and activity for intercompany tracking and cash position management.
Provides guidance and support to Senior Accountant – Development with draw review, especially for complex deals.
Reviews permanent regulatory documents to determine the best accounting approach for different deals.
Reviews ongoing project proforma for financial progress and potential timing/meeting of bond tests.
Works closely with Assistant Controller – Portfolio and Senior Accountant – Development on work-in-progress and retention tracking/reconciliations.
Prepares, reviews, analyzes, and issues accurate and timely financial statements for external reporting requirements and cost certification audits.
Leads cost certification audits and provides guidance to Fiscal staff and Housing Development team on required documentation.
Oversees and ensures completeness of development documentation maintenance for cost certification and audit backup support.
Ensures that accounting records are maintained in a safe and orderly fashion.
Prepares/reviews and trains accounting staff on loan amortization schedule preparation and loan interest reserve projections.
Supports Housing Development project management team on capitalized loan interest application.
Tracks interest rate cap premium and swap activity on projects with these products.
Reviews term sheets for potential lenders to assist with financial cost projections.
Provides guidance to Housing Development project management teams on chart of account coding, advance funding sources, and tracking of advances.
Collaborates and assists with marketing/lease-up cost tracking from budgets.
Supports Director of Finance with tracking financial milestones for project timeline tracking and consolidation purposes.
Works with Director of Finance on long-term planning, annual objectives, and work plans for supervised staff.
Ensures organizational, cross-teams procedures are followed for proper internal controls.
Supervises, trains, and oversees the work of Senior Accountant – Development.
Reviews, approves, and oversees the financial reporting of the development portfolio.
Prepares and conducts performance reviews for staff supervised.
Develops work goals for staff supervised.
Responsible for the recruitment, interview, and selection for directly supervised position vacancies.
Ensures staff knows and follows safe work practices and policies.
Embodies organization values (respect & compassion, empowerment, teamwork).
Contributes to a safe and pleasant work environment.
Follows policies, procedures, and safe work practices.
Performs other duties as assigned.
Represents organization with governmental agencies, auditors and accountants.

Requirements

Bachelor's degree in accounting or equivalent experience.
Five (5) years of progressive accounting and hands-on technical experience.
Four (4) years of experience in real estate development, construction accounting, property management portfolio, or related field/industry experience.
Three (3) years of management and supervisory responsibility.
Computer experience in accounting systems, Microsoft Application with intermediate Excel skills required, and working within a cloud database environment.
Knowledge and experience with leading/supporting financial audits.
Licensed CPA and/or former public accounting experience (Preferred).
Knowledge and experience with LIHTC and affordable housing industry (Preferred).
Knowledge and experience of GAAP vs tax basis for required financial reports (Preferred).
Experience with cost certification audits (Preferred).
Experience in using MIP / Momentus accounting software and Yardi (Preferred).
Familiarity with tiered ownership structures and regulatory contract review (Preferred).
Familiarity with consolidated financial reporting and compliance (Preferred).
Bilingual or conversational fluency in Chinese language (Preferred).

Skills

US GAAP accounting principles and its application
Strong double-entry accounting and general ledger knowledge
Ability to manage and prioritize tight construction timelines / workflows
Plan and improve upon workflows to streamline multiple and complex project/task management to meet deadlines
Highly organized and meticulous attention to detail
Keen analytical and problem-solving skills
Strong interpersonal and communication (written and verbal) skills
Proficiency with technology and computer skills to prepare/generate spreadsheets and navigate different systems plus databases
Ability to effectively present key financial data to non-fiscal persons
Ability to train/motivate staff and operate as a leader of a team

Location

San Francisco

Work Type

Full-time
Onsite

Experience Level

5 years of progressive accounting and hands-on technical experience
4 years of experience in real estate development, construction accounting, property management portfolio, or related field/industry experience
3 years of management and supervisory responsibility

Education Level

Bachelor's degree in accounting or equivalent experience

Salary/Compensations

$134,900 - $138,000

Benefits

Comprehensive benefits

About the Company

A private non-profit founded in 1977, Chinatown Community Development Center believes in a comprehensive vision of community.
Owns and/or manages approximately 30 affordable housing buildings serving over 3,800 low-income seniors, single adults, formerly homeless adults, and families in San Francisco’s Chinatown, Tenderloin, Western Addition, and Polk Gulch neighborhoods.
Also builds housing, develops grassroots leadership, and engages low-income residents and youth.
Employees are passionate about the mission; thrive in a family organizational culture; and embody values of empowerment, teamwork, and compassion.
Serves a diverse population and is committed to hiring practices that provide culturally competent services.
Encourages people of color to apply.

Equal Opportunity

Chinatown Community Development Center (CCDC) is an equal opportunity employer.
We are committed to building a diverse and inclusive workplace and do not discriminate on the basis of race (includes hairstyle and hair texture), color, religion (includes dress and grooming practices), age, sex (including pregnancy, childbirth, breastfeeding or related medical condition and reproductive health decision making), national origin (includes language restrictions), ancestry, citizenship, disability, medical condition (cancer or genetic characteristic), genetic information or characteristic, marital status, sexual orientation, gender identity or expression, veteran or military status, or participation in an EEO protected activity or any other characteristic protected by federal, state, or local law.
Qualified applicants with criminal histories will be considered for employment in accordance with the San Francisco Fair Chance Ordinance.