Assistant Vice President - Property Accounting
Genpact
5 - 10 years
Gurugram
Posted: 9/3/2024
Job Description
Responsibilities
• This role will be responsible for successful transition of the process and responsible for setting it up FTR (First Time Right)
• Function as Subject Matter Specialist for the Property Accounting process, complete know how and understanding of the value chain.
• The role will require driving growth and ensuring strong engagement, stable operations, talent development, retention, and continuous improvements.
• Require leading teams, manage the overall performance, and foster positive work environment.
Other Responsibilities
• Financial Planning and Strategy: Collaborate with senior management on financial planning, strategic initiatives, and real estate investment strategies. Provide financial analysis, projections, and recommendations to support decision-making and achieve financial goals.
• Maintain attrition at the lowest level as per corporate target and proactively plan & execute people movement during high volume or attrition.
• Coach & mentor Senior Manager/ Manager and help them on their career pathing to succeed well in their roles.
• Ensure team is trained on all corporate/process and skill-based trainings and knowledge retention and improvement in the team.
• Develop and run metrics that measure the activities performed by R2R and present them in a synthesized way.
• Ensure process controls are appropriately established, communicated to employees and timely audited.
• Collaborate with members of Finance, all client departments and other third parties to continuously surface and diagnose inefficiencies to drive forward the design and implementation of process improvements and documentation.
• Identify improvement opportunities using Benchmarking data, provide demonstrate to Managers in designing and implementing process improvements and efficiencies along with executing on results required.
• Review the SOP Documentation and content creation/improvement.
Property Accounting
• Thorough understanding of Financial Reporting, financial statements, including income statements, balance sheets, and cash flow statements, for individual properties or property portfolios. Ensure accuracy, compliance with accounting standards (e.g., GAAP, Cash, Accrual, GAAP etc.) and timely delivery of financial reports.
• Interacting with client stakeholders within and outside client organization to support reporting and decision-making related activities at property level.
• Understanding of the entire Property Management Process E2E requirements, if required can support the operational activities as listed below to drive operational efficiency and continuous improvement.
• Capital Expenditure (CapEx) Management: Capital expenditures for property improvements, renovations, and major repairs. Ensure Capex budgets are tracked against actuals and ensure proper accounting treatment of Capex items.
• Property Tax Compliance: Property tax assessments, payments, abatements, and compliance with tax regulations are done as per the due date.
• Funds reinvestment: Treasury Bills, Certificates of deposits etc. so funds can be appropriately re-invested on time.
• Expense Management: Property operating expenses, including utilities, maintenance, repairs, insurance, taxes, and other costs. Ensure accurate coding, allocation, and recording of expenses to the appropriate property accounts.
• Bank reconciliation of operating and non-operating account for all the properties and clearance of open items.
• Annual budgets, forecasts, and financial plans for properties. Review actual performance against budgeted figures, analyze variances, and provide insights for cost management and revenue optimization.
• Audit and Compliance: Documentation and support for internal audits, external audits, and financial compliance reviews. Ensure adherence to accounting policies, internal controls, regulatory requirements, and industry standards.
• Ad-Hoc Analysis and Projects Reporting to stakeholders.
• Rent and Lease Management Understanding: Rent rolls, lease agreements, and tenant accounts receivable/payable. Calculate and process rent payments, track lease terms and expirations, handle lease renewals, adjustments, and escalations, and reconcile tenant accounts.
• Ensure accurate and timely reporting of financial data to stakeholders meeting the accuracy and TAT commitments.
Minimum Qualifications
• Relevant Accounting Experience- B. Com, M. Com, MBA, CA, CP
• Relevant years of overall experience in Property Accounting – FP&A and Core Property Accounting) related processes and have prior experience of working with real estate client.
• CPA or CPA Candidate preferred.
• Excellent written & verbal communication, Interpersonal, Analytical Skills & highly initiative taking in approach.
• Understanding of Yardi, JD Edwards, MRI will be a preference.
• Detailed oriented with a drive for excellence
• Ability to work independently and collaboratively.
• Able to meet tight deadlines.
• Strong Knowledge of US GAAP and property Accounting Principles for US markets.
• Excellent analytical, organization and critical thinking skills.
• Thorough knowledge of Real Estate industry and property accounting, Month Close & Period End Accounting and Budgeting
• Proficient in MS Office applications, especially in Advanced MS-excel knowledge.
Personal skills:
• Should have managed the Property Accounting processes for real estate clients in his prior role at managerial positions.
• Pride in accuracy.
• Prominent level of professionalism and a service attitude.
• Experience in team handling of minimum 50+ employees.
• Establish & Manage client relationship through regular engagement with the client.
• Pro-actively identify the issues or client needs and act.
• High customer service oriented
• Understanding of Visual Basics (Preferred)
Shift
• Working for the US Client.
• Evening Shift: 5:30PM -2:30AM IST
About Company
Genpact is a global professional services firm delivering digital transformation by putting digital and data to work to create competitive advantage.
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