Job Summary
Macdonald & Company is proudly partnering with a distinguished family office specializing in multifamily and commercial real estate development and asset management to appoint a Controller for their office in Charlotte, North Carolina.The Controller will oversee accounting and lead financial stewardship for both the corporate and family office entities.
Key Responsibilities:
- Financial Management:
- Prepare timely and accurate monthly financial statements and reports for corporate accounting functions.
- Maintain and update depreciation schedules, rent rolls, and ensure compliance with debt obligations.
- Oversee CAM reconciliations, job costing, and development accounting.
- Manage accounts payable and receivable processes, ensuring accuracy and efficiency.
- Ensure insurance compliance and prepare income tax files, property taxes, and sales tax returns.
- Family Office Accounting:
- Oversee the accounting for family office activities, including the management of family trusts and tiered LLCs.
- Maintain detailed records of investments, distributions, and trust-related transactions.
- Manage the accounting for various family-owned entities, ensuring accurate tracking of financial activities and compliance with family trust structures.
- Coordinate with external advisors on estate planning, tax strategies, and trust administration.
- Leadership and Supervision:
- Lead, mentor, and supervise a team of property accountants and property managers.
- Ensure effective operation of the accounting department, fostering a collaborative and high-performance work environment.
- Strategic Analysis:
- Provide comprehensive financial analysis and prepare detailed historical reports on the development side and overall financial status of the company.
- Collaborate with the CFO and executive team to assist in budget creation, financial forecasting, and strategic planning.
- Tax and Compliance:
- Work closely with the external CPA for tax filings, ensuring compliance with relevant tax regulations.
- Maintain knowledge of real estate tax concepts, including bonus depreciation, 1031 exchanges, and complex trust structures.
- Ensure compliance with all regulatory requirements related to family trusts and real estate investments.
- Systems and Processes:
- Utilize Yardi software for property management and accounting functions, ensuring accurate and efficient record-keeping.
- Design and implement customized Yardi reports to meet organizational needs, including financial performance, occupancy, and operational metrics, ensuring data accuracy and relevance for decision-making.
- Manage relationships with banks and lenders, overseeing debt servicing and compliance.
- Stay updated with the latest accounting technologies and best practices to enhance departmental efficiency.
Qualifications:
- Education:
- Bachelor’s degree in Accounting required.
- MBA highly preferred.
- Experience:
- Minimum of 10 years of experience in real estate accounting, from both a development and operating capacity.
- Prior background in public accounting is highly desirable.
- Demonstrated experience managing property accountants and property managers.
- Proven experience with family office accounting, including trust management and complex tax structures.
- Prior experience with Yardi software required.
- Licenses:
- Active CPA license required.
- Skills:
- In-depth knowledge of real estate accounting, including multifamily, office, land, and warehouse properties.
- Strong financial analysis skills with the ability to produce comprehensive and insightful reports.
- Experience with family office accounting, including managing family trusts and tiered LLCs.
- High level of maturity and proven leadership capabilities.
Work Environment:
- This is an in-office position based in Charlotte, NC.
- The role involves collaboration with a long-standing team, where many members have been with the company for 10-20 years.
