Development Accountant in Madison, Wisconsin at Volker Development

About Volker Development

We're dedicated to reshaping communities through the development of high quality, affordable housing solutions. With a deep-rooted commitment to integrity, sustainable growth and unwavering support for residents, we're more than just developers - we're community builders.

POSITION SUMMARY:

The Development Accountant is a key member of the finance team reporting to the Chief Financial Officer. The overall objective of this position is to support the financial execution of Volker's development pipeline by owning the preparation of construction draw packages, tracking and reporting development costs, and maintaining other accounting records that keep the business running day-to-day. They will need to exhibit strong attention to detail, an innovative mindset, and the ability to work independently while knowing when to bring organized, well-framed questions to the CFO and development team. Success in this position will be determined by timely and accurate draw submissions, reliable project reporting, and the steady build-out of systems and controls that scale with our growth. This role will be based out of a small Madison, WI office, offering direct exposure to senior leadership and a clear runway into more advanced forecasting, budgeting, developer fee optimization, and the formalization of additional processes as the organization matures.

ESSENTIAL JOB DUTIES AND RESPONSIBILITIES:

Construction Draw Package Preparation:

• Prepare and assemble monthly construction draw packages for all active development projects, ensuring completeness, accuracy, and compliance with lender and investor requirements.
• Become the in-house expert of draw management software, leveraging the platform to streamline draw preparation, document management, and communication with lenders and the development team.
• Coordinate with Volker staff, general contractors and architects, to gather required documentation, including pay applications, lien waivers, and executed change orders.
• Reconcile draw requests against approved project budgets and flag variances, anomalies, or missing documentation to the CFO and project leads in a timely manner.
• Maintain organized draw files and supporting documentation that will withstand lender, investor, and auditor review.

Development Cost Tracking:

• Track development costs by project from pre-development through placed-in-service, maintaining clean ledgers that support cost certifications and investor reporting.
• Assist in the review of project budget templates, ensuring consistency and accuracy across the portfolio.
• Prepare and distribute budget-to-actual reports as projects progress, highlighting variances and working with the development team to understand root causes.
• Support the preparation of materials for cost certification studies and 10% tests, coordinating with third-party CPAs, state agencies, and investors as needed.

Accounts Payable & Expense Management:

• Process and record accounts payable transactions, ensuring appropriate coding to projects, entities, and general ledger accounts.
• Manage vendor onboarding, W-9 collection, and annual 1099 preparation for development-related vendors.
• Assist in other areas as needed, such as monthly credit card statement reconciliations.

Financial Reporting & Analysis Support:

• Assist the CFO in preparing recurring internal reporting packages for ownership, lenders, and investors.
• Support month-end and quarter-end close activities related to special-purpose development entities, including journal entries, reconciliations, and accruals.
• Contribute to ad hoc analyses, including draw forecasting, sources-and-uses updates, interest reserve projections and capital stack summaries.

Process Improvement & Growth Opportunities:

• Identify opportunities to streamline draw, AP, and cost tracking workflows, bringing forward innovative ideas to improve accuracy, speed, and transparency.
• Over time, support the development function through project forecasting and budgeting, developer fee optimization analyses, and the formalization of internal controls across the development function.
• Participate in cross-functional collaboration with asset management, property management, and development teams to ensure seamless handoffs from development to stabilized operations.

Communication & Relationship Building:

• Develop and maintain open lines of communication with the CFO, development personnel, property management agents, and external partners.
• Ask organized, well-prepared questions that move projects forward and demonstrate ownership of assigned responsibilities.
• Promote and maintain positive working relationships within the corporate team and with lenders, investors, contractors, and agency partners.

MINIMUM SKILLS AND ABILITIES:

Computer Skills: Proficiency with Microsoft applications (Teams, OneDrive, OneNote, Outlook, Word, Excel, PowerPoint, etc.), Adobe, and general comfort with web-based platforms required. Prior experience with Rabbet, Yardi, Sage, QuickBooks, or other real estate accounting and development platforms is preferred.

Other Skills: Professionalism, high ethical standards and professional integrity, outstanding organizational skills, strong attention to detail, innovative thinking, the ability to work independently, strong interpersonal skills, the ability to multi-task and meet deadlines under pressure, and the desire and ability to work in a fast-paced, team-oriented environment is required.

Travel: 0-10%, a valid driver’s license and proof of insurance is required.

Accommodations: Reasonable accommodation may be made to enable qualified individuals with disabilities to perform the essential functions.

PREFERRED QUALIFICATIONS:

Experience: At least 2-5 years of relevant accounting experience within the real estate industry, with direct exposure to construction draw processes and development cost tracking. LIHTC experience, including familiarity with cost certifications and 10% tests, and demonstrated ability to automate workflows with AI tools is strongly preferred but not required.