Job Summary: The construction Draw Specialist is responsible for managing the entire process of tracking, preparing and reporting of all construction and renovation project draw / reimbursement tasks within the organization.
Job Responsibilities: Including but not limited to
- Perform timely and accurate construction loan draws.
- Perform timely and accurate Renovation/Capital Improvement project billing and reimbursement requests.
- Billing and AR collections of General Contractor billings.
- Tracking, collections, recording and reporting of the billing and funding for the draw requests.
- Review of borrower documents to establish and maintain proper draw request terms and procedures.
- Maintain professional communication with Construction Department, Project Managers, Accounts Payable, Treasury and external funding sources to ensure timeliness and accuracy of the draw/reimbursement processes.
- Create and maintain effective and accurate draw schedules and worksheets.
- Maintain and report accurate project budgets, approved modifications, costs (current and projected) by project costs codes and categories.
- Prepare and track WIP schedules, Pencil Draws, Inspection logs and other supporting schedules and documents.
- Financial and accounting support of projects and entities.
- Assist with subcontractor management, invoicing requirements, and timeliness of deliverables.
- Obtain/file new vendor W-9’s, reviewing logs weekly and updating any expired certificates.
- Verification, tracking and reporting of lien releases, insurance, and W-9’s for all appropriate contractors, sub-contractors and vendors.
- Reconcile job cost to GL accounts.
- Prepare monthly internal reports for management review.
- Assist Construction, Purchasing, Treasury and Accounts Payables with tasks associated with draw responsibilities.
- Record journal entries and perform monthly account reconciliations.
- Research and resolve discrepancies as needed.
- Ensure that all associated accounting functions are performed accurately and timely.
- Perform month-end closing procedures for assigned projects.
Job Requirements & Qualifications:
- Bachelor’s degree in Accounting, Finance, or a related field.
- CPA or CMA certification is a plus.
- Minimum of 2 years of experience in construction accounting and construction/loan draw processes, preferably with a real estate developer.
- Proficiency in all details of Loan Draw process with Lenders.
- Proficiency in accounting software (Yardi, Yardi CM, Yardi Voyager, Sage 300, Timberscan), advance in MS Excel, Word, SharePoint
- Strong knowledge of GAAP and financial reporting procedures and standards.
- Strong understanding of construction project management principles and terminology.
- Excellent analytical and problem-solving, and decision-making skills.
- High level of accuracy and attention to detail.
- Ability to thrive in a fast-paced environment, manage multiple priorities, and meet tight deadlines.
- Knowledge of construction contracts, change orders, and procurement processes is advantageous.
Benefits:
- Competitive salary commensurate with experience.
- Comprehensive benefits package including health insurance, retirement plans, and paid time off.
- Collaborative and team-oriented work environment.
- Opportunities for professional development and career advancement within a growing organization.
About Us:
Prime Group’s vertically integrated approach unifies multiple Real Estate disciplines under a single roof sharing a multifaceted vision of improved, sustainable real estate development utilizing our diverse strengths, strategic affiliates, and talented in-house professionals. Our results are a robust portfolio of retail centers, offices, mixed-use developments, hotels, resorts, restaurants, and residential single and multi-family communities; each supported and sustained through technology, planning, and experienced skilled personnel. We are a privately owned company with the agility and strength to leverage unique opportunities. With growth as a measure of our success, Prime Group’s core affiliates shift and share resources to support our projects, processes, companies, and clients. Since Prime Group began as a residential real estate development company, the company has grown to include commercial retail, office, hospitality, and mixed-use specialties, consultation, and management.
If you are a motivated accountant with a passion for real estate development and investment, we invite you to apply for the Project Accountant position at Prime Group.
Thank you for expressing interest in employment with Prime Group. While only those candidates considered for the position will be contacted, your resume will remain on file for 90 days.
Equal Opportunity Employer
