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.
Supervision Exercised: None.
FLSA Status: Exempt
EEO Classification: Professional
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
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.
Equal Opportunity EmployerBack to All Careers