Development Accountant - Oakmont Senior Living

Development Accountant

O&I Development, LLC (O&I), the development company for Oakmont Management Group (OMG) is looking for a full-time Development Accountant. O&I together with OMG owns, operates and develops licensed assisted living and memory care communities throughout California. OMG is proud to offer luxury amenities and services to both active seniors and those in need of quality assisted living and memory care services. OMG currently operates 87 communities throughout California, Nevada, and Hawaii, with more communities in the new development pipeline.

We’re seeking an experienced accountant to join our team in the role of Development Accountant. This role will be responsible for all aspects of development project accounting including daily accounting activities and financial reporting for our real estate development projects. The ideal candidate will have an understanding and experience with owner and contractor AIA billings, construction payables, project cost accounting and budgeting. The Development Accountant takes initiative and is a highly self-motivated person who thrives in a dynamic work environment and demonstrates a flexible and adaptable work style that responds quickly and efficiently under tight deadlines.

Salary range: $80k - $100k.

Objectives of this Role

• Development Cash Management: Oversees cash flow for all development project sources. Reconciles development project receivables and provides monthly report of advances to development projects and estimated repayment schedules. Provides budgeted-to-actual reports for Housing Development and Board. Tracks budgeted-to-actual developer fees.
• Closings: Performs accurate journal entries for all acquisition, construction and permanent loan closings, in coordination with project managers and escrow. Funds reserve and other accounts at closings
• Development Draws: Works with project managers to prepare and/or review development funding draw requests. Prepares and transmits line of credit drawdown and repayment requests. Ensures funding receipts are deposited and/or transferred as needed to meet the payment obligations for all development projects.
• Development-Related Accounts Payable: Oversees the accounts payable process for development projects. Determines payment requests have proper authorization, coding, documentation and mathematical accuracy. Ensures accounts payable are properly entered into the accounting system and that checks are printed, signed, and mailed with accounting.
• Cost Certifications: Works with development project managers and auditors to prepare cost certifications for newly constructed and rehabilitated housing projects. Supports other funder requests for financial reporting as needed.
• Line of Credit: Oversees use of Line of Credit for short-term float of real estate development expenses.
• Audits: Provides trial balances to Controller or other supervisors as requested. Reviews and analyzes capitalized costs in preparation for closings and audits. Responds to development-related auditor requests.
• General Accounting General Ledger: Assists as necessary with routine general ledger close and account reconciliation functions.
• Other: Prepares other reports and duties as assigned. Assist with special projects related to development or construction projects, including preparing ad hoc reports and improving and maintaining job cost software

Skills and Qualifications

Education and/or Experience:

• Bachelor’s degree in accounting with at least two years of experience in real estate development and/or construction accounting, or associate degree with four years of such experience. Senior Housing real estate development experience preferred but not required.
• Must be at least at intermediate level Excel user, as well as proficient in Word and Outlook
• Intacct experience preferred; experience with at least one enterprise-class, cloud-based accounting software system required.

Abilities and Attributes:

• Ability to handle daily responsibilities and projects with minimal direction
• Must be pro-active in identifying and proposing solutions
• Excellent written and oral skills and an ability to present information coherently
• Must have ability to assimilate a variety of information from various individuals, and make decisions from which a precedent may not exist
• Must be accurate, organized, and highly detail-oriented with the ability to multi-task and follow through on all projects
• Must be pleasant with the ability to work collaboratively with different department and levels of management
• Excellent decision-making, interpersonal and time management skills

With communities across California, Hawaii, and Nevada, opportunities for career growth, relocation, and travel are significant. In addition, eligible team members may enjoy the following benefits:

• Medical, Dental, and Vision benefits
• Vacation, Personal Day, Sick Pay, Holidays
• Complimentary Meals
• Bonus Opportunities
• Company Paid Life Insurance
• Team Member Discount Program (LifeMart)
• 401(k) Savings Plan with Company Match
• Recognition Programs
• Student Loan Refinancing
• Tuition Reimbursement
• Pet Insurance
• Employee Assistance Program
• Emergency Financial Assistance

Oakmont Management Group is an Equal Opportunity Employer.