Portfolio Controller (Columbia, MD)

Portfolio Controller

Position Summary

The Portfolio Controller is responsible for overseeing the financial integrity, accounting operations, and reporting for an assigned portfolio of commercial real estate properties. This role ensures compliance with Generally Accepted Accounting Principles (GAAP), internal accounting policies, contractual obligations, and applicable internal control requirements, including Sarbanes-Oxley (SOX) Section 404.

The Portfolio Controller works closely with property managers, asset managers, and other internal stakeholders to monitor property financial performance, oversee budgeting and forecasting, analyze operating results, and resolve accounting discrepancies. Responsibilities include reviewing net operating income (NOI), managing accounts receivable (AR) issues, evaluating lease-related accounting matters, monitoring balance sheet accounts, and preparing financial reports for management.

Additionally, this position provides leadership and guidance to accounting staff, supports audit and due diligence activities, and delivers accurate, timely financial information to support operational and strategic decision-making across the real estate portfolio.

Key Responsibilities

Financial Reporting and Portfolio Accounting

• Maintain complete, accurate, and timely financial records for an assigned portfolio of commercial real estate properties in accordance with GAAP, internal policies, and applicable reporting requirements.
• Oversee monthly financial reporting activities, including the review of net operating income (NOI), operating expenses, revenues, and other key financial metrics.
• Monitor property financial performance against budgets, forecasts, and prior-period results, identifying significant variances and recommending corrective actions as needed.
• Prepare management reports highlighting key operational statistics, financial trends, risks, and performance indicators.
• Investigate and resolve accounting discrepancies in collaboration with property management, asset management, and other relevant departments.
• Review balance sheet accounts regularly to ensure balances are appropriate, reconciled, and supported by accurate documentation.
• Evaluate financial adjustments, miscellaneous billings, and other accounting transactions to ensure appropriate treatment and accurate reporting.
• Prepare audit schedules, supporting documentation, and work papers for internal and external audits.
• Serve as a primary accounting contact for assigned properties, providing financial guidance and decision support to property and asset management teams.

Lease Accounting and Revenue Management

• Review lease requests, executed lease agreements, and lease abstracts to identify accounting implications and ensure accurate financial treatment.
• Evaluate lease terms, tenant credit considerations, tenant improvement obligations, and other contractual provisions affecting property financial results.
• Review straight-line rent calculations and related revenue recognition entries for accuracy and compliance with applicable accounting standards.
• Analyze revenue and operating expense adjustments to assess reasonableness, accuracy, and collectability based on lease terms and tenant circumstances.
• Interpret lease agreements and document appropriate accounting conclusions and supporting rationale.
• Evaluate accounts receivable balances, identify potential collection risks, and recommend appropriate bad debt reserves or adjustments.
• Participate in annual operating expense reconciliation and true-up processes to ensure tenants are billed or refunded accurately in accordance with lease agreements.
• Monitor changes in lease terms, billing rates, and tenant obligations to ensure financial records and billing practices remain accurate and up to date.
• Partner with property management and other departments to resolve tenant billing discrepancies, collection issues, and lease-related accounting questions.

Budgeting, Forecasting, and Financial Analysis

• Lead the preparation, review, and monitoring of annual property budgets, quarterly estimates, reforecasts, and regular capital expenditure plans.
• Collaborate with property and asset managers to evaluate financial performance, identify emerging trends, and update rolling forecasts.
• Analyze actual financial results against budgets, forecasts, and prior-year performance to identify variances and explain significant differences.
• Monitor net operating income, operating expenses, revenues, and capital expenditures to assess performance against established financial targets.
• Develop financial analyses and reports that support property-level planning, cost management, and investment decisions.
• Identify potential financial risks and opportunities and recommend strategies to improve property performance.
• Maintain accurate forecasts based on updated leasing activity, operating assumptions, capital requirements, and other relevant business factors.
• Communicate financial results and forecast changes to stakeholders, ensuring timely follow-up on outstanding issues and required adjustments.

Accounts Receivable and Balance Sheet Oversight

• Monitor property receivables, outstanding obligations, and other financial risks to support accurate reporting and effective financial management.
• Review accounts receivable balances and investigate overdue amounts, billing discrepancies, and potential collection concerns.
• Ensure balance sheet accounts are regularly reviewed, reconciled, and supported by appropriate documentation.
• Coordinate with property management, corporate accounting, and other departments to investigate and resolve outstanding financial statement items.
• Review accruals, reserves, bad debt provisions, and other adjustments to ensure appropriate accounting treatment.
• Recommend corrective actions to address discrepancies, strengthen reporting accuracy, and improve financial controls.

Internal Controls and Compliance

• Maintain effective internal controls to support accurate financial reporting, operational accountability, and compliance with applicable requirements.
• Ensure adherence to GAAP, internal accounting policies, contractual obligations, and relevant SOX 404 requirements.
• Identify control weaknesses, investigate discrepancies, and communicate deficiencies and recommended improvements to appropriate leadership.
• Review accounting processes and supporting documentation to ensure transactions are properly authorized, recorded, and reported.
• Support internal and external audit activities by preparing documentation, responding to inquiries, and resolving identified issues.
• Maintain an understanding of relevant lease agreements, financing arrangements, joint venture agreements, and other contractual documents affecting portfolio accounting.

Team Leadership and Development

• Provide supervision, guidance, and technical support to assigned accounting staff, including project accountants.
• Coordinate workloads and establish priorities to ensure accurate and timely completion of accounting and reporting responsibilities.
• Train and mentor team members to strengthen technical accounting knowledge, reporting capabilities, and professional development.
• Support recruiting, onboarding, performance management, employee development, and other supervisory responsibilities as needed.
• Promote accountability, collaboration, and continuous improvement within the accounting team.
• Partner with management and Human Resources on staffing needs, employee development, and succession planning initiatives.

Additional Responsibilities

• Participate in financial due diligence for real estate acquisitions, dispositions, and financing transactions.
• Support corporate accounting and joint venture accounting teams with lender reporting, investor or partner reporting, and related financial requirements.
• Review relevant financing documents, partnership agreements, and other contractual arrangements to understand their accounting and reporting implications.
• Assist with special projects, process improvements, and other financial initiatives as assigned.
• Perform additional job-related duties as needed.

Qualifications

Education and Certifications

• Bachelor's degree in Accounting, Finance, or a related discipline required.
• Certified Public Accountant (CPA) designation preferred.

Professional Experience

• Five to seven years of relevant accounting experience required.
• At least two years of property accounting experience preferred.
• Experience in commercial real estate accounting, property management accounting, or portfolio financial reporting preferred.
• Demonstrated experience with budgeting, forecasting, financial analysis, and pro forma preparation.
• Experience reviewing lease agreements, analyzing operating expenses, managing accounts receivable, and evaluating property-level financial performance.
• Previous experience supervising, mentoring, or coordinating the work of accounting professionals preferred.

Technical Skills

• Strong working knowledge of GAAP, property accounting principles, and internal control requirements, including Sarbanes-Oxley.
• Proficiency in Microsoft Office applications, particularly Excel, Word, and Outlook.
• Experience with property accounting and financial management systems, such as Yardi, required.
• Ability to learn and adapt to new accounting systems, financial reporting tools, and software applications.
• Ability to interpret complex financial transactions, lease agreements, contracts, and supporting documentation.
• Strong understanding of property-level budgeting, forecasting, revenue recognition, expense allocations, and balance sheet reconciliations.