Associate - Property Accounting

Description

Asana Partners is a retail real estate investment manager creating value in vibrant neighborhoods by leveraging vertically integrated capabilities and retail expertise. With more than $9 billion of assets under management, the firm is active in growth markets throughout the United States and is driven to make a positive impact within communities.

Our distinctive company culture is the key to our success. We recruit high-performing, ambitious individuals who are entrepreneurial and eager to maximize their potential in a team environment. We value relationship building – both internally and externally – and view it as the foundation for creating value for our neighborhoods and generating strong results for our investors. Asana Partners is known for our proven, strategic approach; our sophisticated, collaborative team; and our high-quality portfolio. With offices in Charlotte, Atlanta, Boston, Columbia, Denver, Los Angeles, and New York, we were founded to be a firm that would provide career-long opportunities for our people and a long-term partner for our investors.

For additional information, visit www.asanapartners.com or follow @asanapartners.

The Associate is an important position on the Asana Partners team that reports to the Property Accounting leadership team and works closely with the Chief Financial Officer, Property Management, Investment Accounting, Treasury, and Corporate Accounting. This position is responsible for ensuring timely and accurate accounting for a portfolio of investments and performing related financial analysis. This will include the preparation of accounting support records, preparing financial statements, communicating financial information to various departments, and participating in the overall monthly, quarterly, and annual close process and related internal and external reporting. This position will play an important role in helping to ensure the overall financial integrity of Asana Partners, including assisting with the annual audit of the financial statements and other important accounting controls. Duties include: 

• Ensure timely and accurate accounting for a portfolio of investments and perform related financial analysis, including recurring   journal entries, balance sheet reconciliations, variance reports and internal/external financial reporting in accordance with GAAP
• Ensure timely and accurate monthly close of the property general ledgers and creation of property level financial statements 
• Prepare budget to actual explanations by line item for all properties and determine the key drivers of budget to actual property Net Operating Income variances 
• Partner with the Investment Accounting and Asset Management team to prepare accounts receivable detail along with the operations teams to determine the required bad debt reserves and to ensure all income is billed in accordance with lease terms, including preparation of monthly accruals and annual reconciliations of recovery items 
• Partner with the Investment Accounting on acquisition and disposition support including onboarding and offboarding of new properties in the Yardi system 
• Perform monthly reconciliation of job cost and Work-in-Progress (WIP) balances to the general ledger, and prepare reclassification entries to ensure costs are accurately recorded as capital expenditures or operating expenses in accordance with accounting policies
• Collaborate with Property Mangers to review and approve property invoices through the workflow process, ensuring proper account and job cost coding
• Review, validate, and activate lease agreements in Yardi, ensuring accurate setup of lease terms, complex recovery structures,   percentage rents, and recurring charges in accordance with lease agreements and company policies
• Participate in departmental projects that deploy updated processes and technology to create efficiencies and automate manual tasks 
• Support internal accounting teams by researching transactions, providing explanations, and compiling requested documentation and support for audit, reporting, and other accounting inquiries
• Assist with special projects or tasks to support the overall Company’s goals 
• Assist with the development of procedures around financial reporting and internal controls 

Requirements

• Strong technical accounting skills with an understanding of GAAP (fair value accounting preferred) 
• Experience in commercial real estate including retail or mixed-use properties is highly preferred 
• Excellence in Excel, Word, and PowerPoint 
• Working knowledge of Yardi and Argus Enterprise is preferred 
• Strong work ethic, self-motivated, and capable of effective independent judgment 
• Acute attention to detail and passion for quality 
• Strong organizational and process skills to manage multiple competing priorities 
• Ability to meet and manage critical deadlines and to work independently 
• Interested in process improvement and documentation