• Profile

Development Accountant

Closing Date:
28 Nov 2019
Competitive Basic Salary plus Bonus & Benefits
Vacancy Type:
Permanent - Full Time
Hours Per Week:
Job Description

Greystar is a market leading, fully integrated real estate company offering expertise in investment, development, and property management of multifamily residential properties globally.

The UK business is rapidly growing, providing exceptional student accommodation through our Chapter platform, as well as an expanding portfolio of Multifamily Private Rental properties.

Our employees are the key to the success of our business with exceptional service at the heart of everything we do. This level of service is a result of their expertise, a solid understanding of the markets they operate in and a passion to provide outstanding experiences. 

Our aim is to further expand across the UK and Europe by hiring local talent and staying true to Greystar’s core values of integrity, respect, professionalism, accountability, service and team work. 

Role Summary:

This role is primarily responsible for all project level accounting responsibilities across a number of Greystar’s Multifamily development projects. Key responsibilities include the reporting and monitoring of project job costs against budgets, working with development managers to ensure flow of financial information, applying International Financial Reporting Standards (IFRS) and providing the related internal and external reporting requirements.

Key Role Responsibilities:

  • Business Partners Development Managers on a portfolio of Development projects, providing financial analysis of key decisions, review of actual costs versus budget and providing the financial perspective on the development where appropriate.
  • Compiles and analyses the financial information in preparation for entry into various financial statements and accounting reports and makes appropriate journal entries for recording in the general ledger by checking calculations, reviewing basis for figures, and balancing and reconciling figures.
  • Reviews budget, revenue, expense, invoices, and other accounting documents and researches and resolves discrepancies as necessary.
  • Maintains and reports on project budgets to include compilation of draw packages and necessary approvals, ensure accurate coding of invoices, charging of Development Management Fees, and submission of payment requests to third party administrators.
  • Reviews completeness and accuracy of investment accounting completed by 3rd party administrators.
  • Liaises with external partners and lenders, providing additional data and information as requested, and answering questions necessary to facilitate the funding process in a timely manner.
  • Provides cost to complete information for input into quarterly desktop valuation and annual 3rd party valuation.Reviews valuation from a financial perspective.
  • Performs bank reconciliations and wire transfers for deposit, ensuring accuracy.
  • Prepares monthly financial reporting packages for distribution to internal and external stakeholders
  • Assists the Development group with creation of new project budgets, ensuring that appropriate cost codes are used and Development Management Fees and Contingency budgets are allocated correctly.
  • Reviews and abstracts development and lender agreements for projects assigned, understanding reporting requirements, deadlines and fee calculations.
  • Acts as the first point of contact with external auditors e.g. to explain journal entries and financial transactions, providing research data and information as requested, and answering questions necessary to complete the audit in a timely manner.
  • Builds and maintains effective working relationships with internal and external stakeholders. Responds to questions regarding developments, provides support, and ensures timely completion of accounting processes for reporting.
  • Prepares financial information for VAT returns and other tax administration on deliverables where necessary
  • Completes various financial, accounting, administrative, and other reports and analysis, and performs other duties as assigned or as necessary.

    Organisational Responsibilities:

  • Follows established policies and procedures by monitoring and ensuring compliance with regulatory requirements, organisational standards, and operational processes related to area(s) of responsibility and reporting violations or infractions to appropriate individual(s).
  • Demonstrates appropriate safe behaviours in accordance with Company, property, and departmental policies, procedures, and standards by immediately reporting any mechanical or electrical equipment malfunctions, employee/visitor/resident injuries or accidents, or other safety issues to appropriate individual(s).
  • Identifies areas for improvement, offers suggestions to improve efficiency and productivity, and implements ideas that achieve operational excellence.
  • Keeps abreast of current changes in technology, processes, and standards within the industry and area(s) of responsibility by attending internal and external training classes.
  • Role Scope:

  • Responsible for maintaining the project budgets, accounting and reporting of a mixed portfolio of multifamily and student ground up developments primarily focused in the UK.