Associate Vice President, Development Accounting (62900)

## Description

## Position Summary

The Assistant Vice President (AVP), Development Accounting, reports directly to the Chief Financial Officer and is responsible for the strategic leadership, management, and oversight of all development/construction accounting functions across the organization's development, construction, and pre-development activities. This position ensures the accuracy and integrity of development-related financial reporting, budget management, draw administration, audit compliance, cash flow forecasting, and team development while supporting operational efficiency and organizational growth.

The AVP serves as a key business partner to Development, Finance, Asset Management, Operations, and Executive Leadership teams to ensure accurate financial management throughout the lifecycle of each project.

### Leadership and Department Management

• Provide leadership and oversight for the Development Accounting Department, including Development Staff Accountants, Accounts Payable Clerks, Billing Analysts, and related personnel.
• Develop, mentor, and evaluate team members to promote professional growth, accountability, and high performance.
• Assign and balance workloads across the department based on project complexity, staff capabilities, and development needs.
• Establish annual departmental goals, performance expectations, and development plans for team members.
• Foster a collaborative, service-oriented culture focused on continuous improvement and operational excellence.
• Partner with executive leadership to identify opportunities for process improvements, increased efficiencies, and cost reductions.

### Construction Accounting Operations

• Direct all aspects of construction accounting activities for development, pre-development, and construction projects.
• Oversee construction draw processes, reimbursement requests, and funding administration.
• Ensure the timely and accurate preparation of financial workbooks, draw packages, cost certifications, and funding documentation.
• Manage accounting activities related to pre-development costs, construction-in-progress (CIP) accounts, placed-in-service assets, permanent loan conversions, and project closeouts.
• Review and approve construction-related journal entries, reconciliations, and supporting documentation.
• Ensure compliance with company policies, accounting standards, lender requirements, investor agreements, and regulatory guidelines.
• Monitor construction budgets and actual project expenditures in partnership with Development and teams to ensure accurate cost reporting.
• Maintain strong internal controls, audit trails, and documentation supporting all construction accounting transactions.

### Financial Planning, Analysis, and Reporting

• Prepare and manage the annual Development Accounting departmental budget and periodic forecasts.
• Develop and maintain revenue projections related to developer fees
• Monitor and report on departmental and project-related profit centers.
• Prepare and present executive-level reporting, including:
• Work-in-Progress (WIP) Reports
• Developer Fee Reports
• Cash Flow Forecasts and Projections
• Open Draw Reports
• Capital Funding and Loan Activity Reports
• Develop and maintain project cash flow forecasts, including funding requirements, investor capital contributions, intercompany financing, and reimbursement schedules.
• Monitor collections and funding activities to ensure adequate project liquidity throughout development and construction phases.

### Systems and Process Improvement

• Evaluate, implement, and optimize development/construction accounting technologies and software solutions to improve efficiency, accuracy, reporting, and scalability.
• Lead system integration initiatives incorporating the use of artificial intelligence
• Continuously assess departmental processes and recommend enhancements to strengthen controls and improve overall performance. Implement AI as appropriate

### Audit, Compliance, and Tax Support

• Oversee preparation and review of Final Cost Certifications (FCCs) for completed developments.
• Review and approve Placed-in-Service (PIS) and Permanent Conversion journal entries upon project completion and stabilization.
• Assist with preparation and submission of project cost certifications, 8609 applications, and other tax-credit-related compliance documentation.
• Serve as the primary liaison between the company and external auditors, CPA firms, lenders, investors, and regulatory agencies on development/construction accounting matters.
• Coordinate annual audit activities and ensure timely completion of audit requests, schedules, supporting documentation, and reconciliations.
• Provide information and financial analysis required for project cost certifications, audits, and tax reporting.

### Cross-Functional Collaboration

• Partner closely with Development, Finance, Operations, Asset Management, and Property Accounting teams to resolve accounting matters and support project objectives.
• Ensure efficient transition of projects from construction to operations, including preparation and transfer of accounting and financial records.
• Support executive leadership with special projects, analyses, and strategic initiatives as required.

## Qualifications
## Required Skills and Competencies

• Strong leadership, team development, and organizational management skills.
• Extensive knowledge of development accounting principles, job costing, and project financing.
• Strong understanding of construction draws, lender funding requirements, cost certifications, and tax credit compliance.
• Advanced financial analysis, budgeting, forecasting, and reporting capabilities.
• Exceptional analytical, organizational, and problem-solving skills.
• Excellent verbal and written communication abilities.
• Ability to manage multiple priorities and deadlines in a fast-paced environment.
• Demonstrated ability to build effective partnerships across departments and levels of the organization.
• Advanced proficiency in Microsoft Excel, Word, Outlook, and MRI

## Education and Experience

• Bachelor's degree in Accounting, Finance, Business Administration, or related field required.
• CPA designation preferred.
• Minimum of 10 years of progressive construction accounting experience, including leadership responsibilities.
• Minimum of 10 years of experience managing and developing accounting professionals and support staff.
• Experience with affordable housing, multifamily development, tax credit projects, and construction financing preferred.

## Physical Requirements and Work Environment

• Ability to operate a computer and standard office equipment.
• Remote work model.
• Primarily sedentary work performed in an office environment.
• Occasional travel and attendance at company-sponsored meetings, conferences, training events, and team-building functions may be required, including overnight travel.