Accounting Associate Job Description

Position: Accounting Associate

Department: Finance
Classification: Full-Time
Location: Denver, CO or Chicago, IL

Supervisor: Financial Operations Manager
Salary: Commensurate with Experience
Benefits: Enrollment in Watermark BCBS Health Insurance Plan, PTO, enrollment in Watermark AT&T phone plan or $50/month stipend, LTD insurance, term life insurance, company issued IT Equipment (laptop and monitors), company 401(K) including a 50% employer match up to 6% of employee’s salary. Opportunity for end of year bonus.

Position Description

The position is responsible for various accounting, administrative, and operations support. This position will include successful execution and coordination of work as it relates to accounting, executive assistance, and the general operations of Watermark. The Accounting Associate will work closely with the Financial Operations Manager, Accounting Manager, VP of Finance, and the CEO to fulfill Watermark’s Mission, Vision, and Value.

Watermark Summary

Founded in 2013, Watermark has established itself as one of the most innovative end-to-end residential real estate developers in the country. Recognizing the limits of traditional multi-family and scattered site single-family home rental, Watermark has been a market trailblazer of what has come to be known as the “Build to Rent” movement. Build to Rent, a brand-new real estate asset class, recognizes the value of providing a single-family home with the flexibility and convenience of a multi-family lease.

We believe in something greater than ourselves. We exist to give—to cultivate. To create a new brand of real estate that gives residents a better place to live. A place to call home. To develop a new, wholistic standard of living. To not just fill units with tenants, but to cultivate a better life for residents.

Roles & Responsibilities

Corporate Accounting – 70% of the time (Variable)

  1. Prepare Watermark Pay Applications and waivers on a monthly basis for review by FOM, ensuring that monthly pay applications accurately account for pertinent Watermark fees, all eligible reimbursable expenditures, and are tracked accordingly.
  2. Coordinate, track, and process project predevelopment costs in a timely and organized fashion. This will include preparing necessary cost sharing documents & backup for equity partners, making necessary accounting journal entries, and processing payments through the corresponding software.
  3. Process monthly expense reports, downloading and sending to approver parties, and upon approval, tagging all credit card transactions to their proper account.
  4. Reconcile credit card statements and corporate bank accounts monthly, downloading, filing, and organizing all credit card and bank account statements in their proper location.
  5. Import invoices into accounts payable software for team members approval for preconstruction costs.
  6. Follow up with vendors regarding the collection of W9, COI, and Waivers and other necessary documentation.
  7. Maintain chart of accounts in Yardi, QuickBooks and Expensify.
  8. Make weekly deposits into Watermark bank accounts.
  9. Ensure accounting software’s are synced with internal bank accounts daily.
  10. Assist FOM with month-end close reports by updating the Fathom monthly template with appropriate dates, project titles, financial statements (P&L, Balance Sheet, Trial Balance, Budget, and Watermark REO for review by the FOM.
  11. Assist FOM with necessary general ledger maintenance, journal entries, and other accounting duties for internal Watermark entities.
  12. Assist FOM and third-party CPA firm with coordination and execution of annual corporate entity filings such as 1099s, K1s, and State & Federal Tax Returns.
  13. Assist accounting team with ad hoc accounting duties.

Business Operations & Administration: 20% of Time (Variable)

  1. Open, scan and sort all incoming mail to appropriate team members.
  2. New hire coordinator for purchasing necessary equipment and coordination of computer set up with 3rd party IT company.
  3. New hire coordinator and point person for onboarding with 3rd party HR company.
  4. Primary point of contact to 3rd party IT company and assisting team members coordinate solutions with 3rd party IT.
  5. Providing access and office instructions for new employees.
  6. Confirm all new legal entity formation documents are received and uploaded into the appropriate folder.
  7. Manage phone plan, printer, internet, and Bluebeam software subscription for ALL Watermark offices.
  8. Manage team calendar (company holidays, team meetings, approved PTO days).
  9. Booking CEO’s travel (hotels, rentals cars, restaurants), managing CEO’s expense reports, assisting CEO with administrative items such as coordinate corporate retreats, ordering company swag, etc.
  10. General administrative support to the Watermark partners.
  11. Coordinate & manage delivery of team member and partner gifts including company holiday card, company apparel, and other misc. merchandise.
  12. Perform ad hoc administrative support functions.

Investor Coordination and Data: 10% of Time (Variable)

  1. Ensure investor accounts are accurate within the CrowdStreet software (investments balances, contact information) by updating accounts within the software and communicating with investors when necessary.
  2. Ensure proper documentation is uploaded to each investor account in Crowdstreet and/or internally saved (depending on the investment entity).
  3. Coordinating any investor communications and gifts with the marketing team, supplying necessary email / mailing lists, and helping to execute.

Qualifications and Success Factors

  1. Bachelor’s degree in Accounting or Business-related field required.
  2. Preferably 1+ years of experience in accounting, preferably in real estate accounting.
  3. Highly proficient in Excel (pivot tables, lookups, etc) and Microsoft Suite.
  4. Quick thinker & learner with the ability to take on increasing responsibilities as we grow.
  5. Self-starter who possesses strong initiative and internal motivation.
  6. Solutions based problem solver who has a strong desire to tackle issues, working diligently to find solutions to any problems they identify.
  7. Team first mentality, desiring to collaborate and grow with a dynamic team.
  8. A passion for success, a positive and friendly attitude, and a consistent work ethic are all a must.
  9. Yardi or Quickbooks experience a plus but not required.