Project Accountant (Development Financial Services Associate)

Development Financial Services
Posted: 05/08/2019
Full Time
Los Angeles, CA
Responsible for the full-cycle job cost accounting functions associated with assigned development projects, including the completion, review, reconciliation, processing of loan draws, contract management, participating on pencil draw meeting, invoice processing and follow ups and participating on project team meeting. Day to day administrative support with the development team and accounting of assigned property or assets as well as cash management. 
Essential Functions
  • Review pay application package from general contractor/consultant’s invoices and initiate the payment process in Nexus Payables and route for approvals
  • Assist in setting up executed contracts in Yardi and monitor the progress payments
  • Track payments against contracts, track lien releases and communicate with project managers and general contractor to resolve payment issues.
  • Compile and assemble draw funding requests for construction/development loans and coordinate with development accounting team at corporate to commit payments to make sure all related checks and wires, ACH are released accordingly.
  • Attend general contractor pencil draw meetings and paying key attention to the schedules and the percentage completed and the pay application in general.
  • Maintain the master list of construction loans on assigned projects and report monthly to the Development accounting group and the Development VP and Principal in necessary
  • Work with development accounting group to perform a job cost month-end reconciliation including the retention accounts related to the projects assigned
  • Communicate and follow-up on construction/development activities, results, and pending issues with the development team and the development accounting team
  • Perform month-end processes and procedures as assigned
  • Keeping log of the conditional and the unconditional waivers for the assigned projects and communicate the project VP and accounting manager.
  • Compiling the monthly requisition to track total construction cost for the assigned project and working with the project coordinators to track and reconcile the project requisition spread sheet periodically
  • Processing construction invoices in Nexus Payable and submit for approval and follow up to make sure they are approved and paid.
  • Coordinate monthly project team meetings
  • Track all unpaid invoices in Yardi and nexus payable and following up on the status if necessary
  • Work with CIM Development team especially the project coordinators and help manage the day to day construction administration related issues and report to the both the development VP and the Construction accounting manager if necessary.
  • Work with construction accounting team to calculate the development fee and make sure it is prepared the paid to CIM group monthly.
  • Education/Experience Requirements
  • Bachelor’s Degree in accounting or related field with experience in construction projects of equivalent
  • Experience with job costing and loan draws
  • Demonstrate a strong understanding and applying basic accounting concepts and principles
  • Technical Skill Requirements
  • Microsoft Office, especially Excel
  • General understanding of construction accounting processes and procedures and construction development processes
  • Experience with Yardi/Nexus or related accounting/AP software
  • CIM does not accept unsolicited resumes from Agencies.  Any unsolicited resumes received from Agencies will be considered property of CIM and no fees will be due or paid.  If you wish to become an approved Agency with CIM or any of its Affiliates, please contact a member of the CIM Talent Acquisition Team.