Property Accountant

Position Overview:

MIT Investment Management Company (“MITIMCo”) is committed to creating a diverse environment and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

MITIMCo is a leading investment management firm which invests exclusively on behalf of MIT to support its educational and research mission, and currently manages over $40 billion in assets for the Institute’s endowment, retirement plan and other pools of capital. We are seeking a Property Accountant to join our Real Estate Accounting & Finance (“RE A&F”) Team. The Property Accountant is responsible for supporting the Real Estate Controller in the oversight of the day-to-day accounting & finance related activities for the operating properties managed by Cambridge Real Estate.

Principal Duties and Responsibilities:

• Reviews monthly operating property financial reporting prepared by third-party administrators to maintain the integrity of real estate sub ledgers.
• Ensure completeness of monthly records and reporting.
• Reviews yearly recovery calculations prepared by third party administrator for assigned properties in the portfolio.
• Prepares bad debt analysis and collaborates with asset management to validate and third-party administrator to record in accounting system.
• Prepares monthly performance upload.
• Assists the Real Estate Controller with facilitation and coordination of the bi-annual real estate tax and yearly PILOT Tax payments.
• Prepares lender financial compliance reporting to meet deadlines associated with debt covenants.
• Aids in the preparation of annual budgets and quarterly reforecasts.
• Assists with preparation of schedules and supporting documentation for annual audits.
• Monthly review and reconciliation of operating capital costs in Yardi Job Cost to ensure completeness compared to capital additions on the property balance sheets.
• Compiles property level financial information for the annual appraisal process.
• Assist in the asset transition process to ensure capitalization and expense activity is being appropriately tracked.
• Participates in the review of lease abstracts to validate lease financial data
• Ensures proper treatment is recorded in the accounting systems for acquisitions, dispositions and transfers of assets.
• Assists in the planning and integration of systems, data and reporting to create efficiencies.
• Assist with special projects and other tasks as assigned.

Supervision Received:

• Reports to Real Estate Controller

Qualifications & Skills:

• Bachelor’s degree in Finance- or Accounting-related field required.
• 3+ years of experience in property accounting preferred.
• Has a “can do”, productive, self-motivated attitude.
• Experience in Yardi a plus.
• Demonstrates initiative and suggests improved processes.
• Proficiency in Microsoft Office (Word, Excel, PowerPoint).
• Excellent critical thinking and analytical skills.
• Ability to thrive in a fast-paced environment and feel comfortable introducing new ideas and solutions.
• Strong computer skills and knowledge of relevant technology.
• Exceptional organizational skills and effective time management skills with ability to multi task.

*Please note that MIT does not provide visa sponsorship for technical, administrative, or library full-time or part-time regular positions. Additionally, MIT does not provide visa sponsorship to recent graduates and practicing professionals for internship training, practical experience, or other non-teaching, non-research affiliations.