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
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.
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
- 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.
- Job Family Corporate Management
- Pay Type Salary
- Required Education Equivalent Experience
- Boston, MA, USA