Development Accounting Manager

DEVELOPMENT ACCOUNTING MANAGER

SUMMARY
The Development Accounting Manager is a senior accounting leader responsible for overseeing all accounting and financial reporting activities related to the Company’s real estate development portfolio, including construction projects, development entities, joint ventures, and construction financing.

This role manages the day-to-day development accounting function, leads a team of three professionals, and serves as a key partner to Development, Construction, Treasury, and senior leadership. The ideal candidate brings deep experience in development accounting, construction draws, job cost reporting, and lender/JV compliance, with the ability to drive process improvements and strengthen internal controls in a growing organization.

This is a salaried, exempt position reporting to the VP, Treasury and Accounting.

KEY PERFORMANCE OUTCOMES

Successfully assume ownership of the development accounting function and team within 90 days

Independently prepare and manage monthly development draws and lender reporting within 6 months

Establish relationships with banks, JV partners, construction and development teams, and other accounting groups.

ESSENTIAL DUTIES AND RESPONSIBILITIES 
The following duties represent typical responsibilities for this role; additional tasks may be assigned as needed.

Leadership

·         Serve as a key point of contact for internal departments (Legal, Asset Management, Finance) and external partners (JV Partners, Auditors, Banks, Consultants).

·         Lead process improvement initiatives to strengthen internal controls, streamline workflows, and enhance reporting quality.

• Manage staff of three team members.
• Special projects assigned by the VP, Treasury and Accounting

Development Accounting and Reporting

• Manage and oversee daily accounting operations, including general ledger activities, month‑end and year‑end close, account reconciliations, bank reconciliations, and preparation of internal financial statements.
• Prepare monthly, quarterly, and annual financial reporting packages and deliver to senior leadership.
• Review and approve journal entries, account reconciliations, and supporting documentation to ensure accuracy and compliance.
• Prepare monthly Development draws for each construction project by receiving the monthly construction billings from the GC combining that information with development costs and property costs for review by VP, Treasury and Accounting.
• Ensure lender, partner, and joint venture reporting requirements completed accurately and on schedule, including quarterly compliance packages.

·         Code and pay overhead business costs for development entity and bill back to job’s if needed.

• Analyze development property and development financial data to identify variances, trends, and opportunities for improved financial performance.

Cash management

·         Oversee cash management processes, including weekly cash requirements, draw requirements, payment approvals, and coordination with Accounts Payable, Construction, and Development teams.

Support Transactional Accounting

• Oversee job cost reporting for developments, ensuring proper tracking and compliance.
• Support closing of deals by providing reports and support.
• Record closings on joint ventures and construction loans as it relates to development activities.
• Set up and maintain predevelopment tracking and reporting.
• Coordinate transition of accounting over to the property management accounting team upon completion.

EDUCATION AND EXPERIENCE REQUIREMENTS

• Bachelor’s degree in accounting required.
• Five or more years of progressive accounting experience; prior management or supervisory experience strongly preferred.
• Strong understanding of GAAP, financial reporting, internal controls, and accounting best practices.
• Advanced proficiency with Microsoft Excel and other Microsoft Office software.
• Experience in construction, development, property management, or real estate accounting required.
• Experience with accounting ERP software preferably Sage Intacct and/or Sage 300.
• Prior experience managing or mentoring accounting staff strongly preferred

REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES

• Strong knowledge of accounting principles, financial analysis, and modern accounting systems.
• Strong analytical skills and attention to detail.
• Ability to maintain confidentiality and handle sensitive information appropriately.
• Excellent communication skills, both written and verbal, with the ability to collaborate across departments.
• Strong organizational skills with the ability to prepare accurate reports, manage deadlines, and drive results.
• Proficiency in Excel and financial reporting tools at an intermediate to advanced level.
• Experience with multi-entity organizations including consolidation reporting.

Who Thrives in This Role

• A development accounting professional who enjoys ownership and accountability
• Someone who values structure, controls, and process improvement
• A collaborative leader who communicates clearly with construction, development, and finance teams
• A hands-on manager who is comfortable both reviewing work and rolling up their sleeves.

PHYSICAL REQUIREMENTS
The employee is regularly required to sit at a desk, talk, listen, and use hands to operate a computer. Must be able to lift to twenty pounds and maintain focus for extended computer‑based tasks.

WORKING CONDITIONS
Work is performed in an office environment with moderate noise levels. The employee may occasionally need to work a flexible schedule, overtime, and/or travel as required.