Financial Manager

Boston, MA, USA Req #1029
Friday, August 5, 2022


Financial Manager, Corporate Office - Boston, MA

 


General Statement of Duties:   The Financial Manager directly supports the property management function including financial statement analysis, portfolio management, valuations of residential rental communities, investor relations, coordinating or assisting with acquisitions/refinancing and dispositions and managing the property budgeting process.

 

Supervision Received:  Reports to Senior Vice President, Property Management.

 

FLSA Status: Exempt

 

Essential Functions of the Position:
(Any one position may not include all of the duties listed, nor do the listed examples include all that may be found in positions of this class.)

  • Analyze financial reports (balance sheet, income statement, etc.) on a monthly basis to assess the performance of the asset and the portfolio.
  • Understand each asset, identify problem areas, and present solutions to maximize net operating income and cash flow.
  • Understand the capital structure of each property and be familiar with both partnership and loan agreements.
  • Ensure compliance with all covenants of property financings and fund documents.
  • Manage the process of preparing annual reforecasts and annual operating and capital budgets for each asset.
  • Proactively monitor business plan execution to anticipate developing issues and manage financial exposure. Communicate issues, problems, or findings to senior management staff.
  • Prepare reports (financial statements, narratives, etc.) and distribute to investors, owners and others following review by the office of the CFO.
  • Review and understand annual audited financial statement for each asset.
  • Project cash flow and net operating income by analyzing operating data and annual budgets.
  • Maintain and update financial models for the purpose of asset valuation.
  • Assist with quarterly, semi-annual, or annual distributions in accordance with governing agreements.
  • Lead monthly financial statement review and property performance meetings
  • Monitor key financial benchmarks including occupancy and collections.
  • Oversee replacement reserve submission to lenders and agencies.
  • Assist in due diligence, market analysis, and creative problem solving.
  • Participate in the long term, strategic planning of assets
  • Special projects as assigned

 

 

Minimum Qualifications

 

Education:  BA or BS in Finance, Accounting, Business, Real Estate or related field.

 

Qualifications, Abilities and Skills

Minimum 5 years of property management or asset management of real estate assets and a solid understanding financing structures. Experience with both affordable and market-rate multifamily properties. Strong analytical and problem-solving skills. Advanced knowledge of Excel, PowerPoint, Word.

 

Ability to effectively communicate to team members, senior management, and investors, verbal and written.

Significant experience with financing, operations and financial modeling/analysis.

 

Travel requirements:

Some travel will be required, as our portfolio consists of assets throughout New England, the Mid-Atlantic, Northeast, Southeast and Midwest.

 

Beacon Core Competencies required for all positions:

Teamwork, Integrity/Ethics, Dependability, Customer Focus, Adaptability/Flexibility

 

Beacon Asset Manager Job Competencies:

Job Knowledge, Quality, Problem Solving/Analysis, Interpersonal Skills, Personal Organization, Productivity
Benefits Offered:
  • Medical, Dental and Vision insurance, beginning on the first of the month after hire.
  • 401(k) with company match, short term disability and long term disability insurance.
  • 3 weeks’ paid vacation, 13 paid holidays.
  • Summer flex scheduling options to allow for early releases on Friday from Memorial Day to Labor Day.
Beacon Communities LLC seeks a diverse pool of candidates. We are committed to a policy of equal employment opportunity without regard to race, color, ancestry, national origin, religion, disability, gender, gender identity, sexual orientation, age, veteran status or other protected class.

Beacon Communities - 2018, 2019, 2020 Boston Globe's Top Places to Work!!

At Beacon, we strive to make a difference in our residents’ lives. We build outstanding communities that make enduring contributions to the vitality of our cities and towns. We create communities that serve a diverse cross section of our society. Our communities are healthy and vibrant. Why? Because they are planned with care, consideration, and compassion.
 
Company Overview: Founded in 2004, Beacon Communities LLC is a privately-owned real estate firm that develops, acquires, invests in, and manages a wide range of multifamily housing. Beacon currently owns and manages approximately 18,000 apartments including affordable housing, market rate housing, and mixed income-housing. Its developments range from new construction, to historic adaptive reuse, to the renovation of existing housing. 


Other details

  • Job Family Corporate Management
  • Pay Type Salary
  • Required Education Equivalent Experience
Location on Google Maps
  • Boston, MA, USA