Position: Accounting Manager
Location: Denver, CO or Chicago, IL
Supervisor: VP Finance
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 employees salary. Enrollment in Watermark’s employee profit sharing plan. This would include an allotment of profit-sharing units in each development that Watermark undertakes.
We are looking for an experienced real estate professional to join our rapidly growing company, Watermark Companies. Watermark is the nation’s leading developer in Build for Rent developments and is eager to hire a talented accounting professional to contribute to our growth. The Accounting Manager will play a strategic role in the expansion and scaling of WM Companies. The AM would work closely with the head of the finance department (VP of Finance) to lead all of Watermark’s accounting and reporting functions. The AM would lead our accounting functions as well as work closely with our development teams to ensure accounting functions on projects are being properly carried out. The AM would be leading corporate financial functions for Watermark’s internal entities, forming financial statements, and offering financial, accounting & analytical support to the VP of Finance.
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 (Watermark)
- Maintains, improves, and oversees Watermark’s chart of accounts, accounting filing system, and general operations of the Finance Department
- Ensure accounts payable are processed and paid in a timely and accurate manner
- Ensure accounts receivables are collected in a timely and accurate manner
- Compile monthly pay applications for Watermark Properties for all projects, ensuring that Watermark Properties is accurately compensated for their services rendered to projects.
- Oversee bank reconciliations for all bank accounts
- Manages employee expense reports
- Manage the production of the annual company budget
- Calculate variances from the company budget on a monthly basis
- Measure & track Watermark financial performance against company metrics and benchmarks and report to the VP of Finance
- Maintain debt compliance tracking documents and corporate REO schedule on a monthly basis
- Provide financial analysis as needed in particular for capital investments, pricing decisions and contract negotiations
- Coordinates with company CPA for annual tax filings for Watermark Properties and other internal entities
- Carry out Watermark treasury functions including sending and receiving wires from various entities
- Oversee and assist in the compilation of and issuance of monthly financial statements for all entities and monthly internal financial reporting package
- Monitor, track, and update company cash flow projections on a weekly basis, coordinating with necessary parties
Project Level Accounting
- Manage project accounting systems, processes, and accounting functions including:
- Supervising and supporting project accountants to ensure all entity level financial statements by accurately accounting for all financial transactions, ensuring financial statements are GAAP compliant and are completed in a timely manner
- On a monthly basis, all sources and uses are accurately accounted for at the project level
- Oversee that monthly bank account reconciliations are done for all entities
- Ensure the collection all necessary W-9’s, lien waivers, or other documentation for payments
- Coordinate with JV Partner accounting teams and ensure necessary accounting and financial statement standards are met
- Oversee and lead monthly draw processes on project, utilizing Northspyre software
Misc. & Asset Transactions
- Develop and/or refine Watermark financial operational processes in order to maintain and strengthen internal controls
- Assist with the sale of assets by coordinating with the VP of Finance for the compiling and any pertinent financial due diligence
- Assist in project acquisitions and by working with necessary parties to compile the final settlement statement.
- Computing and executing distributions to investors for project dispositions as well as stabilized projects
Tax & Compliance
- Coordinate with outside CPA for income tax preparation for project and internal entities
- Upon filing entity level tax returns, oversee the preparation and sending of all investor K-1s
- Timely Execution of all necessary 1099’s annually
- Coordinate with JV partner accounting teams to standardize reporting