About this role
Fairway Management, Inc. (FWM) is a property management firm responsible for the maintenance, compliance, marketing and business administration of over 12,000 affordable and conventional apartment homes. We commit extensive resources to hiring, developing and training our property management team. This team works closely with our team of accountants, compliance officers and other staff members to maintain high standards of living at affordable rates.
Growing from 5 to over 250 properties in over 30 years, FWM is regarded as a strong management company in the industry. FWM is sought by lenders and regulatory agencies to manage projects for their developers as a highly regarded management company. Each member of the team is available to the residents and has detailed files that accurately track compliance issues, making life for our residents as carefree as possible.
If this opportunity excites you then we encourage you to apply to join us in our mission to provide quality housing where our families would be proud to live.
Job Summary: |
The Assistant Controller supports the Controller/Director of Finance in overseeing the day-to-day accounting operations of the property management portfolio, which specializes in affordable and Low-Income Housing Tax Credit (LIHTC) properties. This role ensures accurate financial reporting, strong internal controls, and compliance with the complex regulatory and reporting requirements unique to affordable housing, including LIHTC, HUD, and state housing finance agency (HFA) requirements. The Assistant Controller will be a proficient user of RealPage accounting software and will work closely with compliance, asset management, and property operations teams.
Essential Duties & Responsibilities: |
Financial Reporting and Accounting Operations:
- Assist in preparing monthly, quarterly, and annual financial statements for individual properties and the management company
- Review and approve journal entries, reconciliations, and general ledger activity
- Support month-end and year-end close processes, ensuring deadlines are met
- Prepare variance analyses comparing actual results to budget and prior periods
- Ensure compliance with GAAP and company accounting policies
Property Accounting Oversight:
- Supervise accounts payable, accounts receivable, and cash management functions across the property portfolio
- Review property-level financial statements prepared by staff accountants or property accountants
- Oversee bank reconciliations for operating, security deposit, and reserve accounts
- Support annual operating budgets and reforecasts for assigned properties
Internal Controls and Compliance:
- Assist in maintaining and improving internal control procedures
- Support external audit and tax preparation processes by providing documentation and schedules
- Ensure compliance with lender reporting requirements, loan covenants, and investor reporting obligations
- Assist with sales tax, property tax, and other regulatory filings as needed
LIHTC and Affordable Housing Compliance:
- Prepare and review financial reporting required by investors, syndicators, and equity partners for LIHTC properties
- Support annual audited financial statements and tax return preparation specific to LIHTC partnership structures
- Assist with reporting to state Housing Finance Agencies (HFAs), HUD, USDA Rural Development, and other regulatory bodies as applicable
- Monitor compliance with LIHTC program requirements, including replacement reserve funding, operating reserve requirements, and cash flow distribution waterfalls per partnership agreements
- Coordinate with compliance staff on tenant income certification documentation as it relates to financial reporting
- Support preparation of cost certifications for properties in the final stages of construction/lease-up
- Track and reconcile developer fees, deferred developer fees, and asset management fees per partnership agreements
- Assist with year 15 exit/disposition analysis and reporting as needed
- Maintain familiarity with IRS Section 42 requirements as they intersect with accounting and financial reporting
Team Leadership and Process Improvement:
- Supervise, train, and mentor accounting staff (staff accountants, AP/AR clerks, property accountants)
- Assist in the review and improvement of accounting workflows and procedures
- Support RealPage system implementations, upgrades, and process optimization
- Serve as a backup to the Controller as needed
Required Qualifications: |
- Bachelor's degree in Accounting, Finance, or related field
- 10+ years of progressive accounting experience, including supervisory experience
- Experience in affordable housing, LIHTC, or multifamily property management strongly preferred
- Working knowledge of LIHTC (Section 42), HUD, and/or state HFA compliance requirements as they relate to accounting and reporting
- Strong knowledge of GAAP and financial reporting principles, including partnership accounting
- Proficiency with RealPage accounting software required
- Advanced Microsoft Excel skills
Preferred Qualifications:
- Experience with multi-entity partnership accounting and consolidations across a LIHTC portfolio
- Familiarity with investor/syndicator reporting requirements and equity pay-in schedules
- Experience with cost certifications, year 15 transactions, or HFA audits
- Experience supporting external audits for LIHTC partnerships and lender/investor reporting
Skills and Competencies:
- Strong analytical and problem-solving skills
- High attention to detail and accuracy
- Ability to manage multiple priorities and deadlines
- Excellent written and verbal communication skills
- Sound judgment and discretion with confidential financial information
- Leadership and staff development ability
We are an Equal Opportunity Employer and consider applicants without regard to race, color, religion, sex, national origin, age, disability, genetic information, veteran status, or any other status protected by applicable law. Employment is at-will, as allowed by state law. We do not accept unsolicited resumes from third-party recruiters without prior approval from Human Resources. Candidates must be legally authorized to work in the United States without sponsorship.
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