Career Opportunities at Acacia


Job Details

Promesa Housing

Affordable Housing Business Manager  Bronx, NY  : 3/14/2021
Job Description

Job ID#:


Job Category:

Promesa Housing

Position Type:

Full Time


The Acacia Network is a not for profit network with an expansive business line. Under the network’s umbrella are not for profit affordable housing operations, inclusive of affordable housing development, constructions management, property management, asset management and affordable housing compliance. The Acacia Network owns and/or operates close to 1800 units of affordable housing and has a pipeline of an estimated 1200 more. The network is always working to expand its affordable housing and property management operations, and strategic visioning and new property set up/implementation is required of this position.
The Business Manager joins a dynamic, fast paced, and integrated leadership team and will be responsible for leading a team of accounting professionals. This position requires the Business Manager to oversee all aspects of financial reporting, property accounting, property accounting initiatives, trending, and expansion. Knowledge of Pre-/Development accounting and Construction finance management are preferred. The leader needs to be strategic, quality driven, and collaborative with all aspects of the affordable housing operations.
KEY ESSENTIAL FUNCTIONS:                                                                                                                     
  • Lead all aspects of Real Estate and Property Accounting for a quickly expanding real estate portfolio within Affordable Housing
  • Manage the accounting function for multiple housing property portfolios such as tenant billing, tenant and section 8 accounts receivables, accounts payable, and bank reconciliations
  • Prepare monthly, quarterly, and annual fiscal statements in accordable with city, state, and federal regulations for internal use and external use for city/state/federal agencies and partners and lenders
  • Analyze the general ledger for each property, prepare journal entries, calculate accruals and adjustments and maintained detailed files monthly
  • Review results of operations and provide detailed explanations of variances
  • Review invoices to ensure correct account coding and expense allocations
  • Prepare reconciliations of all cash accounts, security deposits, reserves, and escrow accounts
  • Monitor cash balances and request capital funding as needed
  • Maintain fixed asset and depreciation schedules
  • Calculate real estate tax and operating expense escalations
  • Interact with Asset Manager, Regional Property Managers, and Field Supervisors to ensure full comprehension of budgets and property finances in day to day operations
  • In partnership with Compliance, assist in the resolution of tenant billing inquiries with accounts receivable and legal departments
  • Prepare documentation for loan draws and reserve disbursements
  • Respond to lender inquiries, as needed
  • Oversee payroll related processing and applicable text reporting
  • Compile financial information for analysts during debt refinancing, 15 year conversion processing, and new development underwriting plans
  • Prepare annual budget and re-forecast
  • Serve as the main contact for annual audits and tax preparation
  • Hire / Build out team and team knowledge as growth continues
  • Analyze and provide fiscal trending for Operations and Leadership, and make recommendations to improve financial sustainability of the properties
  • Work Closely with the Senior Leadership, Asset Management
Knowledge of Affordable Housing, Mitchell-Lama, Section 8, LIHTC and HUD Affordable Housing Regulations  
Proficient in Excel pro-forma analysis related to affordable housing
Must have knowledge of HUD/Public Housing/Tax Credit operational and accounting policies and procedures.
Focused on Real Estate Industry, Affordable Housing
CPA is a plus
Detail oriented and the ability to operate on a deadline driven schedule
Possess strong organizational, analytical and problem solving skills
Yardi Experience, required

*Acacia Network is an equal opportunity employer*

Job Requirements


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