Corporate Real Estate Lease Accountant - Major American Commercial Bank (Buffalo, NY) in Plattsburgh, New York For Sale
Administers and processes the Bank s lease obligations, tenant receivables and real property taxes for payment and recording in the Bank s general ledger for all owned and leased buildings in the Bank s real estate portfolio. Develops annual occupancy budgets for the next calendar year based on contractual agreements and estimated municipal property tax obligations to fulfill the Bank s annual plan requirements per Finance and senior management.
Essential Position Responsibilities:
Maintain accurate accounting records related to the Company s lease obligations, tenant receivables and real estate property taxes to ensure proper and accurate recording of the activity and compliance with accounting standards.
Manage monthly payables report for payment of monthly lease obligations based on the contractual agreements; complete adjustments as required for changes in monthly contractual payments, landlord names and addresses, and if any properties are added or deleted from the portfolio.
Review all real estate tax invoices from municipalities and/or landlords to ensure payments are related to the Bank s owned and leased locations, are in accordance with the lease agreements and are paid in a timely manner to avoid interest and penalties from taxing authorities (912 locations as of 12/31/13) $18 M/year.
Invoice and collect rental income from the Bank s external tenants for lease obligations and provide a monthly delinquency report to management to track and collect outstanding rents.
Complete audits of Landlord invoices through financial analysis and contract reviews to ensure the landlords are billing per the terms and conditions of the lease contracts; contact landlords for adjustments to invoicing as appropriate, to provide cost savings to the Bank .
Maintain and review property assessments to note any year over year changes for consideration into possible challenges by our internal appraiser to reduce future tax obligations.
Provide projections to assist in the development of the Bank s annual occupancy plans and highlight major variances to plans throughout the year to provide senior management with potential cost saving opportunities and/or awareness of cost risks.
Maintain and complete monthly general ledger reconciliations for the Bank s real estate lease obligations to maintain compliance with accounting standards and the Bank s accounting policy.
Complete other related duties as assigned.
The position ensures the timely payment of lease rents in accordance with policies and procedures to fulfill the contractual obligations of the real estate portfolio to protect the Bank s interests. This requires interaction with internal departments such as Accounts Payable, Finance and Legal and external clients/customers such as landlords, tenants, municipalities and outside vendors such as property management firms, parking lot firms and food service management companies to resolve questions arising from invoice reviews. Through ongoing review of lease agreements and lease audits, the position ensures landlord invoices are in compliance with the terms of the leases to ensure the Bank is only paying for expenses for which it is obligated.
Basic Qualifications:
Bachelors Degree in Finance/Accounting or in lieu of a degree a minimum of four years related work experience
Minimum of five years accounting experience
Strong math aptitude
Proficiency with personal computers as well as pertinent spreadsheet, word process and presentation software
Strong written and verbal communication, analytical, organizations, decision-making, presentation, time management and interpersonal skills.
Preferred Qualifications:
Minimum of five years real estate portfolio accounting experience
Knowledge of database software
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