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Senior Project Accountant – Revenue & Arrears Analyst – Deactivated 02/19

New Destiny’s mission is to end the cycle of domestic violence and homelessness for low-income families and individuals by developing and connecting them to safe, permanent, affordable housing and services. To achieve its mission, New Destiny builds and manages housing with on-site services; offers innovative programs that assist survivors in finding and retaining affordable housing; and works to expand access to permanent housing resources for survivors. New Destiny is the largest provider of supportive housing for domestic violence survivors in New York and is a leading advocate in the effort to obtain the resources needed to end family homelessness in New York City

New Destiny is seeking a detail-oriented, experienced, and responsible Senior Project Accountant – Revenue & Arrears Analyst to join the Finance and Administration Department. This role involves working closely with the Property Management Department and Housing Development & Asset Management Department to manage all tenants & subsidy receivables and arrears across multiple buildings under New Destiny’s management, including the Low-Income Housing Tax Credit (LIHTC) properties. The Revenue & Arrears Analyst will be responsible for all buildings’ revenue recognition and cash receipts, including recording monthly rent income & vacancy losses, applying the cash receipts into the correct receivable categories, generating monthly arrears reports, and performing bad debt & collection analysis. This position will report directly to the Controller.

Duties & Responsibilities

Revenue Recording

  • Confirm monthly rent information in Rent Manager with the property management team, including new leases, vacancies, concessions, revised rent amounts, and eviction status for all units.
  • Record monthly revenue, vacancy losses, concessions, and misc. income.
  • Organize lease agreements and tenant ledgers to ensure the information is audit-ready on a semi-annual basis.

Collection & Arrears

  • Ensure receivables are correctly recorded into different categories in Rent Manager, including tenant receivables and various subsidy receivables every month.
  • Provide information and assist other fiscal team members with applicable subsidy billing.
  • Deposit the rent checks to the bank every week and reconcile rent paid through the Rent Manager with the bank transactions every week.
  • Apply different cash receipts to outstanding balances and communicate with the property management team promptly regarding any identified discrepancies or difficulties.
  • Provide monthly arrears information to the property management team and management, assisting in understanding the root causes of the arrears.

Budgeting & Reporting

  • Obtain information from the property management team and perform an annual revenue and collection forecast.
  • Perform quarterly actual vs budget revenue fluctuation analysis and present findings to management.
  • Collaborate with the property management team to present the 15 tenants with the highest combined tenant receivables and subsidy receivables, along with their legal proceeding status, to management every quarter.
  • Generate monthly tenant receivable and subsidy receivable aging reports.
  • Assist Project Accountant in monthly bank reconciliation.

Annual Audit

  • Provide requested information to auditors regarding the revenue and collection cycle, including lease agreement vouching and tenant information.
  • Assist the CFO and Controller as needed during partnerships’ audits and consolidated audits.
  • Other tasks assigned by the CFO or Controller
      Qualifications
      • Bachelor’s or master’s degree in accounting, finance, or related degree required, CPA preferred.
      • Minimum 5 years of progressive accounting experience required.
      • At least 3 years’ experience in property management / real estate industry required, multi-family and affordable housing experience strongly preferred.
      • Experience working with property management and bookkeeping software preferred, such as Rent Manager, Buildium, Yardi Breeze, Fund EZ, and QuickBooks.
      • Experience in rent subsidies such as Section 8, NYCHA, and ESSHI preferred.  Experience working with auditors to prepare year-end reporting packages and supporting documentation preferred.
      • Proficiency in Excel and other MS Suite programs, particularly large data sorting, grouping, and filtering strongly preferred.
      • Demonstrate strong written and verbal communication skills, adept at prioritizing and managing multiple tasks with time-sensitive deadlines required.
      • Detail-oriented, self-motivated, and problem-solving individual with professional organizational skills.
      Compensation and Benefits

      $75K – $80K per year with competitive benefits and a hybrid work schedule. This is a full-time position with a benefits package including medical, dental, vision, short disability, PTO paid holidays, and 401(k). EOE

      How to Apply

      Please submit your cover letter and resume to resumes@newdestinyhousing.org, placing “Senior Project Accountant” in the Subject Line of your e-mail.

      New Destiny is an equal opportunity employer and committed to diversity. Survivors of domestic violence and people who have experienced housing instability are encouraged to apply.

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