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Accountant III, Real Estate Accounting

Real Estate, Real Estates, Other Careers, Hobbs Brook Job ID 2023-12801 Primary Location: Waltham, Massachusetts 01/25/2023
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More information about this job:

Overview:

FM Global is a leading property insurer of the world's largest businesses, providing more than one-third of FORTUNE 1000-size companies with engineering-based risk management and property insurance solutions. FM Global helps clients maintain continuity in their business operations by drawing upon state-of-the-art loss-prevention engineering and research; risk management skills and support services; tailored risk transfer capabilities; and superior financial strength. To do so, we rely on a dynamic, culturally diverse group of employees, working in more than 100 countries, in a variety of challenging roles.



Summary:


Under limited guidance of the Manager of Real Estate Investment Accounting, this position performs all accounting activities related to the real estate portfolios of Factory Mutual Insurance Company (FMIC), also known as FMRE Holdings. This position participates in consolidated reporting, construction and development accounting, fixed asset management, acquisitions, and sales of real estate assets. While supporting Hobbs Brook Real Estate (HBRE), this position will serve as a primary contact for financial information and reporting.



Schedule:


The work model for this position is hybrid with a primary location of Waltham, MA. 50% of work is spent on-site and 50% of work has flexibility to be remote. Wednesday is an anchor day.


Responsibilities:


  • Perform monthly accounting activities and assist with monthly accounting close.

  • Work closely with the Property Management and Asset Management teams on budget and reforecast functions for assigned property portfolio.

  • Review, analyze, communicate, and seek resolution of any accounting issues that may rise.

  • Active involvement in annual budgets and quarterly reforecasts.

  • Prepare annual operating expense reconciliations and monthly estimate charges.

  • Support Construction, Property Management, and other business teams by providing financial information, reporting, and budget support.

  • Review, analyze, and interpret leases for assigned portfolio. Assist on lease abstraction. Verify all lease terms are accurately entered into Yardi and set up expense recoveries, straight-line rent, and deferred leasing costs.

  • Identify issues, provide analysis on monthly reports, and seek opportunities for process improvements. Research open accounting issues and recognize potential issues.

  • Analyze and reconcile depreciation expense balances and prepare annual roll forwards. Manage the transition of development and construction projects into the fixed asset system including input of new fixed assets into the accounting system.

  • Prepare audit work papers with supporting documentation as required by auditors.

  • Assist with special projects and ad hoc requests.

Qualifications:

Education Requirements:


Bachelor’s Degree in Accounting, Business, Finance, or equivalent experience



Work Experience Requirements:
3+ years General accounting, and financial reporting



Skills Requirements:



  • Advanced knowledge of general accounting principles and practices.

  • Excellent Excel skills, technologically savvy, and strong understanding of property accounting.

  • Proven experience with financial systems and standard software applications - real estate accounting systems required, experience with Yardi and PeopleSoft highly desired.

  • Experience with VTS, and Argus a plus.

  • Strong organizational skills with ability to set priorities, manage multiple projects and meet deadlines.

  • Self-starter and capable of finding solutions with minimal supervision.

  • Excellent written and oral communication skills with ability to communicate professionally and effectively internally and externally.



The salary range for this position is $76,200 to $109,500. The final salary offer will vary based on geographic location, individual education, skills, and experience. The position is eligible to participate in FM Global’s comprehensive Total Rewards program that includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.



FM Global is an Equal Opportunity Employer and is committed to attracting, developing, and retaining a diverse workforce.



Please note that all FM Global visitors, including external candidates interviewing for open positions will be required to be vaccinated and should be prepared to provide proof of vaccination.

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