Primary Focus: Primary Accounting Oversight of Operating AMCAL Multi-Family Portfolio
Reports to: VP of Asset Management
- Serve as primary point of contact for bank accounts related to operating AMCAL assets, including the establishment of new accounts, access requests and changes.
- Establish and standardize access to all existing bank accounts related to the AMCAL operating portfolio and serve as the primary point of contact for any property management related requests.
- Impose uniform wire transfer limits on each account to mitigate the risk of fraudulent activity.
- Serve as a check and balance for cash management for both Asset Managers and Property Management Companies for all AMCAL assets.
- Reconcile all cash accounts and obligations owed to AMCAL on a periodic basis to assist in updating AMCAL’s corporate A/R.
- Manage MRA transfers to/from operating assets on a quarterly basis as needed and within prescribed thresholds.
- Review/approve property management company wire transfers over defined limits.
- Conduct forensic analysis of existing AMCAL partnerships to fill any gaps in financial data for prior years that may not be available through current management company financial reporting.
- Ensure timely filing of franchise taxes, property taxes, welfare exemptions, personal property taxes (571-L/R) and annual entity reports for operating partnerships.
- Help develop a more uniform approach for establishing, maintaining and dissolving AMCAL-related entities.
Support New Projects, New Markets and Capital Transactions
- Evaluate annual tax, reporting and administrative requirements for operating assets in new AMCAL markets (TX and WA) to ensure proper compliance.
- Support AMs and CFO in ensuring property accounting of sales and refinances.
Commercial Lease Administration Support
- Assist with CAM calculations to support annual lease renewals for retail leases as needed.
Related Party Administration
- Track on a consolidated basis all fees and accrued interest due to related-parties for the AMCAL portfolio to ensure visibility of all obligations against AMCAL assets.
- Support the continued resolution of errant distributions from prior years resulting in balances owed to related parties.
- Spearhead the reconciliation of AMCAL corporate, partnership, property and related-party accounting to identify any remaining unreconciled balances related to obligations against AMCAL partnerships.
- Develop protocols for non-conforming project financial reporting and cash release requests (primarily related to market-rate and student projects).
- Assist with the preparation of consolidated cash status reports for new projects as well as lease-ups to ensure sufficient cash to support operations. Also anticipate potential shortfalls and facilitate cash infusions (or cash calls) as necessary to support performance and meet AMCAL’s obligations under each partnership.
Key Expectations of the Position:
- Conduct work for no less than 40 hours per week at the AMCAL offices located at 30141 Agoura Road, Suite 100, Agoura Hills, CA 91301.
- Time management and an ability to accomplish tasks with minimal day-to-day supervision, once acclimated, is a must.
- Serve as a primary oversight and gatekeeper for AMCAL cash related to the operating portfolio.
- Sufficient accounting expertise to support the development and improvement of systems for portfolio accounting administration.
- Strong ability to anticipate potential issues, questions and needs while concurrently developing proactive solutions to mitigate risk and support rapid execution of projects.
- Team-oriented attitude that supports a good working relationship with the rest of the AMCAL Asset Management and Accounting Teams and other departments.
- Proactive approach to identifying and seeking out opportunities for further improving value creation for AMCAL.
- Adherence to appearance and conduct guidelines to ensure that you represent AMCAL in an appropriate and professional manner.
- Participation in Weekly Asset Management Meeting and other ad hoc meetings as necessary.
- No travel will be required of this position.
Potential for Future Growth:
- AMCAL currently has 60 operating assets across California and Texas.
- The Company plans to continue its rapid expansion into Texas with three operating assets and multiple projects under construction with delivery scheduled in 2019 and 2020.
- Currently in the process of expanding in the State of Washington with several projects under development which may present an opportunity for further expansion of the position to cover additional states.
- As a private, well-funded and vertically-integrated development company AMCAL is well positioned to rapidly capitalize on market opportunities as they emerge and anticipates continuing to grow at a rate of 5 to 7 new projects per year within its existing footprint.
- In addition to specializing in tax credit multi-family AMCAL also has experience in developing market rate housing on an opportunistic basis which may present opportunities for exposure to new asset classes and markets beyond tax-credit housing.
- Presently the position has no direct reports.
- Salary – DOE
- Health/Dental/Chiropractic coverage available for individual after three months. Dependents can be covered at employee’s expense.
- Life Insurance
- 401K participation
- Three weeks leave (vacation, personal, sick) for the first six years
- Eight paid holidays
- Discretionary bonus based on individual and company performance
- No phone calls, please.
- Please email a cover letter and résumé to firstname.lastname@example.org
- This position will be filled immediately.
AMCAL General Contractors, Inc.
The AMCAL Group of Companies, one of the Nation’s leading housing development companies is developing quality rental and ownership residential properties throughout California, Texas and Washington, including Affordable Housing, Luxury Apartment Housing and Student Housing. The Company was founded in 1978. AMCAL General Contractors Inc. builds all of AMCAL’s projects. For more information, visit our website at www.amcalhousing.com. AMCAL General Contractors, Inc., is an equal opportunity employer.
|Job Category||Asset Management|