CAM Recoveries Analyst

Description

The Recoveries Analyst will be responsible for the annual tenant account reconciliations in accordance with terms. As CAM recoveries serve as an integral part of the accounting process, the individual will be working closely with the accounting, property management and lease administration teams on a regular basis to provide the most current and accurate information pertaining to each tenant’s lease.

• Documentation and Process Improvement – Maintain internal documentation for CAM reconciliation procedures and recovery processes. Identify and implement opportunities for efficiency, accuracy and consistency across portfolios.
• Dispute Resolution & Adjustment Processing - Partner with Property Management, Collections, and Accounting teams to research and resolve tenant billing inquiries and disputes. Adjust tenant recovery setups as needed and maintain audit trails for all changes in billing methodology or allocations.
• Prepare Annual Tenant Reconciliations - Calculate and prepare year-end tenant reconciliations for common area maintenance, property insurance, and real estate taxes, referred to as ‘CAM’. Review lease agreements and related legal documents to ensure accurate application of terms and all recoverable expenses are properly allocated including caps and exclusions.
• Cross-Functional Support - Provide support to other departments including property management, accounting, leasing, and lease administration for lease interpretation and recovery implications as needed.
• Recovery Setup & Maintenance - Complete the initial and ongoing setup of CAM recovery calculations.
• Property Tax and Insurance Billings - Calculate and prepare semi-annual and annual property tax billings, annual insurance billings, and related tenant adjustments.
• Budgets - Partner with Property Management and Accounting Managers to assist with the annual property level budgeting process. Input and validate recovery estimates within Excel templates and internal accounting systems and verify lease level budget assumptions for CAM.
• Adjustment Review and Approval - Review and approve recovery related Tenant Accountant Adjustments (TAAs) submitted by Property Management Teams. Ensure adjustments are properly justified, documented and aligned with lease terms.
• Audit and Reconciliation Support - Facilitate responses to tenant audit requests by compiling necessary backup documentation, calculation worksheets and transaction level support. Reconcile tenant ledgers to ensure consistency between billed, paid and adjusted amounts.

Requirements

Applicants must have valid work authorization that does not know and/or will not in the future require sponsorship of a visa for employment authorization in the US by Vestar.

• Bachelor’s degree in accounting, finance, business administration with emphasis in Accounting or related field is a plus
• Ability to manage multiple priorities and meet tight deadlines
• Excellent organizational and time-management abilities
• Strong analytical skills with a high level of accuracy and meticulous attention to detail
• Ideal candidate has experience with MRI and YARDI accounting software. Microsoft Office (advanced Excel proficiency required)
• Excellent written and verbal communication skills
• Previous experience in Property Accounting, Lease Administration, or CAM Recoveries role
• Strong attention to detail
• Knowledge of finance, accounting, budgeting, cost accounting and cost control principles, and Generally Accepted Accounting Principles (GAAP)
• Strong interpersonal and communication skills for cross-department collaboration
• Ideal candidate has 2 to 5 years of Commercial Real Estate experience and a working knowledge of Recoveries
• Advanced Excel skills a must; ability to work with large data sets and formulas

Benefits

Training + Development

Interview process

Visa Sponsorship

Security clearance