Vice President of Accounting
Edgewood Management Corporation, an industry-leading residential property management company for over 46 years, is seeking a seasoned Vice President of Accounting to join its leadership team in Gaithersburg, Maryland.
About Edgewood: Edgewood manages a portfolio of over 28,000 residential apartment units in 11 states and Washington, DC. Known for its extensive expertise in affordable housing, we are recognized by the National Affordable Housing Management Association (NAHMA) and the National Multi-Housing Council (NMHC). Additionally, our Vantage Management brand represents our expertise in managing conventional and market rate residential properties. We offer a full suite of real estate management and financial services to property owners, specializing in developing innovative solutions and all aspects of property assets: operations, administrative, financial and physical. At the same time, our mission for our clients, our residents, our employees and our communities is to help improve people’s lives.
Position Overview: The Vice President of Accounting is a member of the leadership team and has overall responsibility for the financial strategy and leadership of the 23-member Accounting department. Working as a collaborative leader, the VP of Accounting is responsible for managing and reporting on all fiscal and fiduciary affairs of the organization, including reporting to the Board and company ownership among others; cash and investment management; budgeting and forecasting; and oversight of all aspects of the accounting department. The VP of Accounting collaborates with the President/Chief Executive Officer (CEO) and other senior staff to develop and implement the organization’s business plan in order to meet its strategic goals and recommends the financial strategy for reaching the organization’s goals, monitors and analyzes financial results.
Position Responsibilities and Duties
Strategic and Organizational
- Together with the CEO and executive leadership team, develops the strategy to ensure that the organization has the financial resources needed to achieve its current and future goals, while mitigating financial and operational risk
- Develops and maintains effective working relationships with key financial partners including funders, investors, partners, government agencies, consultants, and vendors.
- Oversees organizational budgeting, accounting and cash management to ensure accurate reporting, interpretation and analysis of financial results in conjunction with forecasts and long-range plans.
- Manages and supports the preparation of the annual consolidated corporate audit and tax returns.
- Prepares the annual corporate consolidated financial statements
- Prepares and files corporate Personal Property Tax returns
- Oversees and reviews property audits prepared by professional services firms.
- Establishes and maintains controls to safeguard assets; documents and recommends improvements to internal financial policies and procedures
- Develops and complete timely financial statements and report on transactions and/or information requests.
- Manages and monitors the organization’s cash flow and capital needs.
- Supervises the accounting staff on day to day operations that includes, but is not limited to, month/year end close, accounts receivable & payable, financial reporting, invoicing, cash receipts and disbursements.
- Responsible for overall property accounting and financial reporting, including annual financial statement audits for over 200 properties/entities
- Oversight and supervision of entire Accounting Department (including A/P, A/R, Accountants, etc.)
- Responsible for evaluation of internal controls with President/CEO
- Guides financial decisions by establishing, monitoring and enforcing policies and procedures
- Protects assets by establishing, monitoring and enforcing internal controls
- Collaborates with other department leaders to develop and execute corporate strategies
- Reviews monthly/quarterly/annual reports due to clients (e.g. owners, investors, housing authorities, other outside groups, joint ventures, etc.)
- Assists clients and operations personnel with comprehension of financial statements
- Prepares compliance responses on behalf of owners to government agencies and financial institutions
- Ensures transition of property accounting records when required
- Monitors banking transactions and related processes to analyze and minimize fees
- Responsible for the hire, supervision and oversight, and evaluation of Assistant Controllers and Accounting Managers as well as ensures effective performance management for the entire department
- Provides training to new and existing staff as needed, to include the handling of non-routine reporting transactions
- As needed, ensures timely and appropriate resolution of employee matters within the department (e.g. staff conflicts, absenteeism, performance issues, etc.)
- Works with direct reports to establish goals and objectives for each year, monitors and reports on the progress of those goals, and creates an environment which enhances the professional development of staff
- Prepares and/or reviews relevant income and expense questionnaires
- Reviews and approves monthly management fee calculations
- Serves on various internal teams and committees as appropriate
- Assists President/CEO and executive leadership with corporate financial statements and any other tasks as requested/assigned
Education and Credentials
- BA/BS in Accounting, Finance or Business with an emphasis in Accounting
- CPA Required
Desired Technical Knowledge, Skills and Prior Experience Profile
- 5-7 years of public accounting plus 5-7 years of progressively responsible experience in the multifamily real estate industry. Third-party property management and affordable experience is desired. Multi-site and multi-state operations knowledge is a plus.
- Prior management/supervisory experience to include recruiting, performance management, team dynamics and leading an engaged and high performing team.
- Knowledge of financials, government regulations, affordable housing, LIHTC, property management and local and state statutes
- Preferred experience with MRI, YARDI or other large industry accounting systems
- Must be PC proficient and able to thrive in a fast-paced and customer-focused environment
- Accountable, punctual, dedicated and loyal
- Regular work schedule is Monday-Friday, but operational demands may require occasional evenings or weekends
- A self-starter who takes initiative and works well in driving successful results with minimum supervision and direction
- Excellent attention to detail, good recordkeeping and well-organized
- Must have very strong interpersonal and both verbal and written communication skills
- Ability to manage multiple tasks, work under pressure and meet deadlines required in an environment which demands flexibility with multiple and/or shifting priorities
- Critical thinker; uses collaborative and facilitative approach and has the flexibility to work with broad range of cultures, personalities, and work styles.
- Professional, collegial and collaborative demeanor and willingness to cooperatively participate on a team in a mission-based organization.
- Ability to demonstrate the greatest level of flexibility in an environment with frequent changing priorities required to meet the needs of Edgewood’s internal and external customers.
- Demonstrated experience with design and implementation of enhanced financial systems and procedures
- Demonstrated ability to prepare clear, accurate, well-organized written and financial reports and to communicate verbally in an effective and concise manner.
- Strong proficiency in Microsoft Office and other software programs including strong experience with real estate industry accounting software, and network administration.
Edgewood Management Corporation is committed to a diverse workforce and is an Equal Opportunity Employer.
Members of Team Edgewood enjoy a positive, supportive environment where employees are encouraged to develop their skills and talent to their fullest potential.
At Edgewood, we believe that a well-trained staff is vital to achieving the highest client and customer satisfaction. Training makes our team members the best in their fields. Through Edgewood Vantage University (EVU) we offer the best tools and resources needed to succeed.