Job Title
Financial Manager
Job Description Summary
Located in the heart of Hell's Kitchen, this 2 million square foot mixed use office portfolio (including a 1.8 million square foot office tower) is currently under the management of a Court-Appointed Receiver and entering an exciting new chapter. Ownership is executing an aggressive value-add strategy focused on significant capital investment, operational improvements, and leasing activity designed to reposition the asset within the New York City office market.
We are seeking a hands-on Financial Management professional who wants to help execute a turnaround, influence financial processes from day one, and gain exposure to every aspect of institutional property management. You'll have the opportunity to make an immediate impact on asset management strategy and the property's financial performance while working alongside an experienced leadership team.
The Financial Manager will ensure the protection and control of client's assets as they pertain to assigned property by following client’s procedural policy on the recording and approving of transactions as well as the full reporting of financial results. The assigned property will include demanding reporting requirements.
Job Description
Responsibilities:
- Own day-to-day property accounting and lease administration functions for a complex, multi-property commercial real estate portfolio, ensuring accurate, timely, and complete financial reporting.
- Maintain and reconcile both accrual and cash-basis books, as required by the client, with particular focus on cash flow available to fund capital expenditures , including the preparation and review of journal entries, bank reconciliations, recurring charges, sundry charges, and other non-recurring transactions.
- Prepare and assemble monthly financial reporting packages, management reports, variance analyses, cash flow reporting, and other client-specific financial deliverables.
- Oversee Accounts Payable, including invoice review, coding, approvals, payment processing, vendor compliance, and coordination with C&W’s centralized processing teams.
- Oversee all aspects of tenant billing and lease administration, ensuring rents, escalations, operating expense recoveries, taxes, and other charges are billed accurately and in accordance with lease requirements.
- Produce off-cycle rent and arrears reporting, with particular emphasis on distressed retail tenants, delinquency trends, collections, and landlord exposure.
- Provide financial oversight of approximately $30 million in capital improvements, including project accounting, job costing, capitalization, depreciation, amortization, budget-to-actual reporting, and reconciliation of project expenditures.
- Support accounting and financial administration for landlord capital projects and new tenant improvement / turnkey buildout projects, including tracking project costs, commitments, invoices, and capitalization.
- Review and approve invoices associated with construction and capital improvement projects, coordinating with Property Management, Project Management, Leasing, and client representatives.
- Support the preparation and maintenance of annual operating and capital budgets, forecasts, and variance analyses.
- Support audit and control reviews, providing documentation and responding to inquiries from client, internal, and external auditors.
- Establish and maintain accurate financial records and reporting processes that can withstand ownership, lender, receiver, audit, and eventual transaction due diligence.
- Perform other duties as assigned by the Property Manager and/or senior management.
Job Qualifications:
- Four year degree in Accounting required
- 5 + years experience in the accounting field, with 3 + years in real estate industry.
- Excellent lease administration skills required.
- Working knowledge of Microsoft Office (Word, Excel, Outlook), Yardi Voyager, Nexus, preferred
- Excellent computer skills
WORK ENVIRONMENT
This job is a hybrid position requiring 4 days in office and 1 day work from home.
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. Regularly required to travel outside between properties in varying weather conditions.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. While performing the duties of this job, the employee may need to travel from floor to floor, climb stairs, and may be required to travel outside between buildings in varying outdoor weather conditions. The employee may also be regularly required to remain in a stationary position (sit or stand) for 85% of the time; regularly operate office machinery.
OTHER DUTIES
This job description is not designed to cover or contain a comprehensive list of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time with or without notice.
Cushman & Wakefield also provides eligible employees with an opportunity to enroll in a variety of benefit programs, generally including health, vision, and dental insurance, flexible spending accounts, health savings accounts, retirement savings plans, life, and disability insurance programs, and paid and unpaid time away from work. In addition to a comprehensive benefits package, Cushman and Wakefield provide eligible employees with competitive pay, which may vary depending on eligibility factors such as geographic location, date of hire, total hours worked, job type, business line, and applicability of collective bargaining agreements.
The compensation that will be offered to the successful candidate will depend on factors such as whether the position is covered by a collective bargaining agreement, the geographic area in which the work will be performed, market pay rates in that area, and the candidate’s experience and qualifications.
The company will not pay less than minimum wage for this role.
The compensation for the position is: $ 93,500.00 - $110,000.00
Cushman & Wakefield is an Equal Opportunity employer to all protected groups, including protected veterans and individuals with disabilities. Discrimination of any type will not be tolerated.
In compliance with the Americans with Disabilities Act Amendments Act (ADAAA), if you have a disability and would like to request an accommodation in order to apply for a position at Cushman & Wakefield, please call the ADA line at 1-888-365-5406 or email Accommodations@cushwake.com. Please refer to the job title and job location when you contact us.
INCO: “Cushman & Wakefield”