Real Estate Accounting Analyst

PRINCIPAL DUTIES AND RESPONSIBILITIES:

Essential functions of the job:

Ensures that UPG lease accounting is maintained in a manner which complies with UPG policies, GAAP and FASB requirements and addresses the needs of management and leadership, including:

* Preparing and maintaining lease abstracts for UPG real property leases;

* Reviewing new and/or existing contract terms to ensure compliance with FASB ASC 842 (Leases);

* Recommending appropriate accounting for new and/or existing leases as specified by lease contract terms, including rent and CAM payments, leasehold improvements, and/or other nonstandard terms and conditions (T&C);

* Tracking and managing lease ending and renewal dates, ensuring financial entries are updated when lease terms change, and periodically validating real estate financials transactions;

* Conducting CAM reconciliations to confirm that operating expenses follow lease terms and verify other expenses related to leases clauses; and

* Monitoring real property maintenance requirements and ensuring accurate accounting for these costs according to lease terms.

Coordinates the oversight of UPG insurance policies for real property and other company assets, including business and medical equipment, by:

* Ensuring Certificates of Insurance are maintained in accordance with lease T&C;

* Reviewing a detailed inventory of company assets and their replacement cost to confirm appropriate insurance coverage is in place;

* Evaluating various risks associated with location and operations that are specific to UPG and/or the health care industry, or rely on specialized medical or computer equipment;

* Performing analysis to predict potential losses based on the frequency and severity of historical insurance claims data;

* Quantifying and prioritizing risk exposure and evaluating whether insurance premiums paid are appropriate for the risks covered;

* Assessing potential large-scale risks (e.g., natural disasters, cyberattacks), and recommend whether the risks should be covered through self-insurance or transferred through additional coverage; and

* Leading and collaborating with cross-functional teams to ensure timely communication regarding insurance across all stakeholders, including UPG Legal, Finance, Facilities and Real Estate.

Prepares financial performance analysis and financial reporting for individual properties by:

* Performing periodic rental rate analysis;

* Overseeing accounts payable /receivable processes related to real estate transactions;

* Assisting in the preparation of annual budgets for properties owned and leased by UPG, including capital expenditures budget; and

* Applying for and/or maintaining tax exemptions for UPG owned real property.

Supports lean process improvement by assisting the implementation of approved changes to improve the efficiency of UPG financial operations, accounting and reporting.

Maintains competencies in accounting through continuing education and training.

Completes other tasks and assignments as requested by Manager of Financial Reporting, Director of Finance/Corporate Treasurer and/or CFO.

MINIMUM QUALIFICATIONS (Education, Experience, Knowledge, and Skills): Education:

* Bachelor's Degree required, with concentration in accounting, finance, real estate, business, and/or health care administration.

Experience:

* Two or more years of work-related experience with progressively increasing responsibilities.

* Experience managing internal stakeholder relationships and working successfully to deliver results requiring collaboration and coordination with multiple teams.

* Experience in managing and meeting multiple deadlines.

* Commercial real estate experience is preferred.

Knowledge and skills:

* Working knowledge of real estate commercial principles and financial concepts, contract terms and conditions and ability to understand and interpret legal documents.

* Strong quantitative analysis skills with attention to detail and the ability to analyze financial data and perform financial modeling.

* Proficiency with computerized accounting systems and general ledger software.

* Intermediate proficiency in spreadsheet software. (Advanced proficiency preferred).

WORKING CONDITIONS: General office environment.

COMPETENCIES:

* Interpersonal savvy: Relating openly and comfortably with diverse group of people.

* Collaborates: Builds partnerships and works collaboratively with others to meet shared objectives. * Building effective teams: Builds strong-identity teams that apply their diverse skills and perspectives to achieve common goals.

* Manages complexity: Makes sense of complex, high-quality and sometimes contradictory information to effectively solve problems.

* Cultivates innovation: Creates new and better ways for the organization to be successful.

* Action-oriented: Takes on new opportunities and tough challenges with a sense of urgency, high energy, and enthusiasm.

* Ensures accountability: Holds self and other accountable to meet commitments.

* Optimizes work processes: Knows the most effective and efficient processes to get things done, with a focus on continuous improvement.

* Instills trust: Gains the confidence and trust of others through honesty, integrity, and authenticity.

* Manages ambiguity: Operates effectively, even when things are not certain or the way forward is not clear.

The University of Virginia is an equal opportunity employer. All interested persons are encouraged to apply, including veterans and individuals with disabilities. Click here to read more about UVA's commitment to non-discrimination and equal opportunity employment.