Development Accountant in Greenwich, Connecticut at Richman Property Services

TRGDC is seeking a full-time Development Accountant to join our team. If you're enthusiastic, and team-oriented, we want you to join our growing family!

Position: Development Accountant

Location: Greenwich, CT, corporate office. The position is a hybrid work schedule working 3-days onsite at our Corporate office in Greenwich, CT, and working 2-days remotely from your home per week. Standard office schedule of 8:00am-5:00pm, Monday through Friday.

Summary:

The Development Accountant is responsible for providing accounting and financial support for a portfolio of real estate development projects from acquisition through construction and stabilization. This position works closely with Development Managers, Asset Managers, Project Managers, lenders, investors, and corporate accounting teams to ensure accurate financial reporting, budget monitoring, loan compliance, and timely funding requests.

Essential Duties and Responsibilities:

Development Accounting & Financial Reporting

• Maintain the general ledger and project accounting records for assigned development entities.
• Prepare and analyze monthly, quarterly, and annual financial statements.
• Record and reconcile development costs, construction expenditures, capitalized expenses, and project funding sources.
• Monitor project budgets and compare actual expenditures against approved development budgets.

Construction Draws & Funding

• Prepare lender and investor draw packages.
• Review contractor requisitions and supporting documentation for payment requests.
• Coordinate with construction, development, and finance teams to ensure timely draw submissions.

Affordable Housing & Tax Credit Compliance

• Assist with accounting and reporting requirements related to LIHTC, HUD, tax-exempt bond, and other affordable housing programs.
• Monitor project costs for compliance with investor, lender, and regulatory requirements.
• Support cost certification processes and coordinate with external consultants and auditors.

Budgeting & Analysis

• Assist in the preparation and updating of development budgets, sources and uses statements, and project cash flow forecasts.
• Analyze project variances and provide explanations to management.
• Review contract commitments, change orders, and project expenditures for accuracy and completeness.

Cross-Functional Collaboration

• Partner with development, construction, legal, asset management, and corporate accounting teams.
• Participate in project meetings and provide accounting guidance related to development activities.
• Support process improvements to enhance financial reporting accuracy and efficiency.

Qualifications:

1. 4-year Bachelor's degree in Accounting, Finance or related field required

1. 2-5 yeas if accounting experience in multi-family or related industry such as real estate development, construction accounting, affordable housing or property accounting preferred.
2. Experience working with LIHTC portfolios or projects, construction loans, or real estate partnerships are desirable
3. Strong understanding of GAAP, real estate development accounting and construction cost tracking
4. Advanced MS Excel skills, Yardi, MRI, JD Edwards, Sage or similar accounting software systems
5. Excellent written and verbal communications skills

Join Our Team:

If you're seeking a rewarding career opportunity with one of the top Property Management organizations in the country, we want to hear from you! Visit our website at https://www.therichmangroup.com/ to learn more.

Please Note:

We conduct criminal background and drug screenings as part of our hiring process. The Richman Group is an equal opportunity employer, providing employment opportunities to all qualified applicants without regard to race, color, sex, religion, national origin, age, disability, or genetic information.