Director of Client Accounting - Property Management

Job Title

Director of Client accounting - Property Management

Job Description Summary

Responsible for the management of the Property Management staff as well as to oversee a significant portfolio or property and to serve as a point person on third-party relationships

Job Description

DIRECTOR OF CLIENT ACCOUNTING – PROPERTY MANAGEMENT

Reporting Line

Asset Services / Property Management Management Team

Purpose of the Role

The Director of Client Accounting is responsible for the overall management, reliability, control and performance of all client accounting activities relating to real estate portfolios managed on behalf of clients.

He/She ensures the accuracy and quality of financial information, the security of financial flows, compliance with contractual and regulatory requirements, and adherence to internal policies and procedures.

As a key business partner to Property Management teams and clients, the Director of Client Accounting also plays a leading role in continuously improving processes, systems, controls and operational efficiency.

Key Responsibilities

1. Management of Client Accounting Activities

Oversee all accounting activities performed on behalf of clients, including:

• Tenant and supplier accounting;
• Rent billing, invoicing and collection;
• Monitoring and reconciliation of tenant accounts;
• Management and monitoring of security deposits;
• Supplier payments;
• Management of client bank accounts and bank reconciliations;
• Cash calls and funding requests;
• Service charge budget monitoring;
• Service charge reconciliations;
• Period-end and year-end accounting closings;
• Preparation of financial reporting for clients;
• Monitoring and clearance of outstanding balances, suspense accounts and accounting discrepancies.

Ensure compliance with accounting closing schedules and all contractual deadlines agreed with clients.

2. Financial Data Quality and Controls

Ensure the accuracy, completeness and reliability of all accounting and financial data produced by the teams.

Implement and oversee appropriate controls to secure, in particular:

• Cash receipts and disbursements;
• Bank details and changes to bank account information;
• Payment runs;
• Bank reconciliations;
• Accounting entries;
• Suspense accounts;
• Data flows between systems;
• Financial closings and client reporting.

Ensure that balance sheet accounts are properly reconciled and substantiated and oversee the timely resolution of identified discrepancies.

3. Team Management and Organisation

Lead and manage the Client Accounting team.

Define the appropriate organisation, responsibilities and allocation of portfolios across the team.

Ensure adequate staffing levels in line with business activity and the onboarding of new mandates.

Set individual and collective objectives and monitor performance indicators.

Support the professional development of team members and promote cross-training and knowledge sharing.

Identify training needs and ensure consistent implementation of best practices across the team.

4. Partnership with Property Management Teams

Work closely with Property Managers and operational teams to ensure that all events affecting properties and leases are accurately and promptly reflected in the accounting records.

This includes, in particular:

• New leases and lease amendments;
• Rent indexation;
• Lease renewals and terminations;
• Tenant move-ins and move-outs;
• Property acquisitions and disposals;
• Changes in portfolio scope;
• Service charge budgets and reconciliations;
• CAPEX and OPEX expenditure.

Establish clear and efficient processes between Property Management and Client Accounting to minimise errors, delays and manual adjustments.

5. Client Relationship Management

Act as the senior point of contact for client accounting matters requiring escalation or specific expertise.

Participate in client meetings whenever financial or accounting matters require senior-level involvement.

Ensure compliance with contractual commitments, agreed deadlines and expected service quality standards.

Review client complaints or accounting issues and implement appropriate corrective action plans.

Support the onboarding of new mandates and ensure a secure and efficient transition into operational accounting.

6. Internal Controls, Compliance and Audit

Define, implement and maintain a robust internal control framework for Client Accounting activities.

Ensure compliance with:

• Internal policies and procedures;
• Delegation of authority and approval levels;
• Segregation of duties requirements;
• Applicable regulatory requirements;
• Client contractual requirements.

Coordinate responses to internal audits, external audits and client audits relating to Client Accounting.

Oversee the implementation and monitoring of remediation plans resulting from audits and control reviews.

7. Processes, Systems and Transformation

Drive continuous improvement and standardisation of accounting processes.

Identify opportunities to automate, simplify and streamline activities in order to increase productivity and reduce operational risk.

Actively contribute to the development and enhancement of Property Management and accounting systems.

Ensure the reliability and quality of interfaces and data flows between systems.

Develop and maintain standardised, documented and auditable procedures.

8. Performance Management

Define and monitor key performance indicators for Client Accounting activities, including:

• Compliance with accounting closing deadlines;
• Bank reconciliation completion rates;
• Volume and ageing of suspense accounts;
• Timeliness and quality of client reporting;
• Compliance with payment deadlines;
• Number of accounting discrepancies and resolution times;
• Compliance with client SLAs;
• Productivity and workload by portfolio;
• Progress against audit and remediation action plans.

Provide regular performance reporting to the Asset Services / Property Management Management Team.

Candidate Profile

Higher education qualification in Accounting, Finance, Business Administration or Audit, ideally combined with strong expertise in the real estate sector.

Significant experience in client accounting, property accounting or Property Management, together with proven experience in managing accounting teams.

Previous experience within a Property Management company, Asset Manager, real estate services provider or organisation managing institutional real estate portfolios would be a strong advantage.

Fluent English and Yardi strong knowledge.

Technical Skills

• Strong expertise in client accounting and real estate financial flows;
• Fluent English
• Excellent command of Yardi.
• Good understanding of commercial leases and service charge mechanisms;
• Strong knowledge of accounting closings and financial reporting;
• Strong internal control and risk management culture;
• Proficiency in Property Management systems and accounting ERPs;
• Advanced Excel skills;
• Ability to operate effectively in a highly digital environment and support process automation;
• Professional proficiency in English, particularly in an international environment.
  

Leadership and Behavioural Competencies

• Strong leadership skills and ability to engage and motivate teams;
• High standards of accuracy, reliability and quality;
• Strong organisational and prioritisation skills;
• Results-oriented mindset and commitment to meeting deadlines;
• Strong analytical and problem-solving capabilities;
• Ability to challenge existing practices and drive organisational improvements;
• Strong client and service orientation;
• Excellent communication skills;
• Ability to work effectively across Property Management, Finance, IT, Legal, Compliance and client teams.

Cushman & Wakefield is an equal opportunity / affirmative action employer. All qualified candidates will receive consideration for employment without regard to ethnicity, gender, gender identity or expression, sexual orientation, age, disability, religion, marital status, or any other legally protected characteristic. Cushman & Wakefield is committed to equity in employment, and our goal is to have a diverse, inclusive and barrier-free workplace. If you are a person with a disability and need any other accessible accommodations during the hiring process, you are invited to bring this to the Talent Acquisition Advisor’s attention once they have made contact.

Cushman & Wakefield est un employeur offrant l’égalité d’accès à l’emploi et appliquant des mesures d’action positive. Tous les candidats qualifiés seront évalués pour le poste, indépendamment de leur origine ethnique, de leur genre, de leur identité ou expression de genre, de leur orientation sexuelle, de leur âge, de leur handicap, de leur religion, de leur état civil ou de toute autre caractéristique protégée par la loi. Cushman & Wakefield s’engage à assurer l’équité en matière d’emploi et vise à offrir un milieu de travail diversifié, inclusif et exempt d’obstacles. Si vous êtes une personne en situation de handicap et avez besoin de mesures d’adaptation supplémentaires durant le processus de recrutement, vous êtes invité(e) à en informer le/la recruteur(se) dès qu’il/elle prendra contact avec vous.
INCO: “Cushman & Wakefield”