Senior Assistant Controller – Real Estate Business Unit
Capitol Broadcasting Company
Title: Senior Assistant Controller – Real Estate Business Unit
Seeking a team-oriented accounting professional who can think on their feet in a fast-paced environment, with the ability to work and communicate effectively with a wide range of internal and external “customers”. Primary responsibilities include nearly full financial oversight, reporting, analysis, and optimization for the Real Estate Business Unit, to free up the Division Controller for most decision support work. However, decision support opportunities will also exist for the Assistant Controller and the rest of the BU F&A team. Manages the accounting department, monthly financial reporting (with supporting analysis and substantive business commentary), and provides periodic updates/presentations to BU and Corporate management on financial results and special projects as they arise. Responsible for compliance with company policies and maintaining sound internal controls.
Working experience must include experience managing accounting teams and strong fundamental accounting skills, and the ability to apply those skills to disparate project accounting, modeling, analysis and reporting needs. Working characteristics must include strong interpersonal skills, creativity, judgment, organization, and ability to prioritize and meet deadlines while juggling multiple concurrent projects.
Must be able to think conceptually and translate concepts into practical solutions. Must be a self starter who is excited to work in a challenging, fast-paced environment, with the primary office at CBC’s American Tobacco Campus in Durham, and the ability to travel periodically to corporate headquarters in Raleigh and to the development project in Rocky Mount Mills.
PRINCIPAL DUTIES AND RESPONSIBILITIES
Primary Elements of BU Management Role:
- Serve as the primary F&A leader for the Division Controller and the Real Estate BU in managing all day-to-day accounting and reporting responsibilities, including managing all accounting team members (7) and functions (internal and external reporting, receivables, payables, payroll, general ledger, fixed assets, etc.).
- Manage, lead and develop members of the accounting team. Team with accounting team members to identify and implement opportunities to streamline business processes, to optimize effectiveness and efficiency, and foster a continuous improvement culture.
- Timely report and summarize business and financial results, including monthly BU team reports and quarterly financial review presentations to the Corporate management team. Must include substantive executive summaries of key monthly and quarterly business and financial results (brief “MD&A” highlights).
- Assist Property Management and Development teams with early identification and resolution of key business and financial matters.
- Regularly monitor and analyze the performance of various development projects and operations via periodic “Project Reviews” of ongoing projects. Establish an annual plan and schedule for such reviews, at both the BU and Corporate levels as appropriate, and update and execute that plan each year.
- Together with the Division Controller, serve as the primary liaison between CBC Corporate F&A and the Real Estate BU with respect to financial reporting and analysis.
- Together with the Division Controller, review legal documents to ensure proper accounting and reporting for joint ventures, investments, loans, leases, vendor agreements, tax credit deals and other significant transactions.
- Together with the Division Controller, provide decision support for the development and property management teams.
- Other duties as assigned
Primary Responsibilities of the Real Estate Accounting Department:
Manage the accounting department staff in the successful operation of the department ensuring that all accounting/finance responsibilities are completed timely and accurately. Includes the processing of all revenue and expense transactions, management of accounts receivable and payable, payroll, and intercompany transactions.
- Ensure adherence to company policies and procedures, and that proper internal controls are followed and that accounting records are kept in compliance with tax and GAAP.
- Manage and support external audit requirements, including the annual consolidated CBC financial audit, property tax audits, tenant CAM audits, and other outside engagements including tax credit cost certifications related to historic tax credits.
- Preparation of annual budgets, and long-term and monthly forecasts.
- Financial Reporting – preparation of the monthly, quarterly and annual financial reporting packages including supporting analysis for management and external lender relationships as required.
- Regulatory compliance - filing of 1099’s and property tax listings.
- Manage the accounting team in the monthly close process.
- Fixed asset acquisitions and dispositions.
- Monitor development projections to make sure that they adhere to budgets.
- Evaluation of periodic property tax revaluations and pursue appeals if appropriate.
- Cash management.
- Lender reporting and lender consent requests as required.
- Accounts receivable and payables management and evaluation of bad debt reserves.
- Approval of purchase orders, invoices and signing check runs.
- Review of account and bank reconciliations.
- Other duties as assigned
- Accounting degree, CPA required.
- 5-7 years of managing a finance and accounting function, real estate experience preferred.
- Financial Reporting, Budgeting and Financial Modeling experience required
- Substantive tax and GAAP experience required
- Proficiency in Microsoft Office, including Excel project modeling capabilities.
- Proficiency in corporate information and accounting systems, preferably with experience using Oracle Financials, PBCS and Smartview, and/or Yardi property management software.
A pre-employment drug screening is required. EOE, M/F. All Capitol Broadcasting Company properties are tobacco free. Capitol Broadcasting Company participates in E-Verify.
Capitol Broadcasting Company, Inc. is a diversified communications company which owns and/or operates WRAL-TV, WRAL Digital, WRAZ-TV, WRAZ Digital, WRAL-FM, WRAL-HD2, WCMC-FM, WCMC-HD1, WDNC-AM, WCMC-HD2, WCMC-HD3, WCLY-AM, WCMC-HD4, Microspace, CBC New Media Group and Wolfpack Sports Properties (a joint venture with Learfield) in Raleigh, NC; WILM-TV, WILT-LD and Sunrise Broadcasting in Wilmington, NC; The Durham Bulls Baseball Club, Bull City Hospitality, and the American Underground startup hub in Durham, NC; Holly Springs Salamanders in Holly Springs, NC; and real estate interests including the American Tobacco Historic District in Durham, NC, and Rocky Mount Mills in Rocky Mount, NC, and Professional Builders Supply, (an equity partnership) in Morrisville, NC.