Operating Property Accountant, UK

Overview

The Operating Property Accountant, UK and JV owns the month-end close and financial reporting for an assigned group of UK and joint venture entities, including foreign currency translation, UK statutory reporting, and partner reporting for entities with outside ownership interests.

What you'll do

• Execute the month-end close for assigned UK and joint venture entities, ensuring all journal entries, accruals, and reconciliations are completed accurately and within established close deadlines.
• Support month-end close for assigned UK portfolio entities by reviewing financials prepared by the UK third-party management company (including UK-specific accounting treatment) and inputting the financials into UK MRI monthly.
• Transfer and translate UK entity trial balances into US MRI monthly (including foreign exchange conversion), and prepare related entries for GAAP adjustments, VAT reclassifications, and Other Comprehensive Income (OCI) reconciliations.
• Generate standard, recurring, and non-recurring journal entries related to assigned entities, resolving questions arising from unusual variances or fluctuations.
• Maintain the close calendar and checklist for assigned UK and joint venture entities, confirming all tasks are completed and supported within the close timeline.
• Assist with joint venture accounting for entities with outside ownership interests, including preparation of financial statements, waterfall and distribution calculations, and partner reporting.
• Reconcile joint venture partner capital accounts and prepare contribution and distribution entries.
• Support preparation of JV partner reporting packages and respond to partner information requests.
• Perform monthly Common Area Maintenance (CAM) reconciliations and recovery analysis for assigned joint venture properties, identifying under- or over-recovery positions and posting adjusting entries.
• Coordinate the month-end expense accrual process for assigned joint venture properties, working with property managers to obtain and review accrual estimates for reasonableness, and posting the related entries within the monthly deadline.
• Prepare annual financial statements for the UK portfolio, including Balance Sheet, P&L, and Cash Flow.
• Prepare the working files for UK corporate income tax filings, review the return prepared by the UK accounting firm, and work closely with the BMR tax team on various tax-related filing requirements.
• Reconcile balance sheet accounts monthly, researching and resolving reconciling items in a timely manner and preparing variance analyses.
• Review income statements for assigned entities to detect potential risks and issues.
• Summarize the drivers of financial statement fluctuations by major category when multiple factors may be contributing, including Rental Revenue, Recoveries, Net Operating Income, Non-Recoverable Expense, and Bad Debt.
• Work with the BMR corporate, tax, treasury, and lease administration teams to support information requests and cross-functional reporting needs.
• Coordinate with the onshore accounting team and the UK third-party management company on close deliverables, escalating issues and open items in a timely manner.
• Partner with property management teams on expense accruals and CAM reconciliations for assigned joint venture properties.
• Support process improvement and documentation efforts, identifying opportunities to standardize recurring processes.
• Take on additional projects, as needed.

What you'll need

• Accounting degree consistent with local market expectations for the role.
• Accounting certifications consistent with local market expectations for the role.
• 6 plus years of accounting experience.
• Experience with month-end closing activities and financial reporting processes.
• Experience managing full-cycle accounting and month-end close responsibilities.
• Working knowledge of US GAAP, including accrual accounting, consolidations, and foreign currency translation.
• Ability to analyze, interpret, and communicate portfolio financial data.
• Strong MS Excel skills.

Nice to have

• Experience with foreign currency translation and multi-entity or cross-border reporting.
• Experience with joint venture accounting, including partner capital accounts and distribution calculations.
• Real estate property accounting experience and familiarity with lease accounting and CAM reconciliations.
• Experience in a GCC (Global Capability Center), shared services, or BPO environment supporting a US-based team.
• Familiarity with ERP and accounting systems or property management software such as MRI, Nexus Payables, and Oracle.

Details

• Able to work effectively across time zones.