Senior Associate, CAM Analysis

ESSENTIAL FUNCTIONS:

• Analyze and reconcile CAM expenses including Common Area Maintenance, Tax, Insurance and other charges annually, ensuring accuracy and compliance with lease agreements.
• Collaborate closely with Lease Administration, Property Accounting and Property Management to ensure accurate and timely CAM reconciliation and estimate calculations.
• Review the lease setups in Yardi, with Lease Admin and third-party lease administrator to ensure accuracy.
• Maintain supporting schedules and related files necessary to facilitate system generated CAM calculations and estimated billings.
• Facilitate and support the setup and deployment of a new CAM reconciliation model in Recoveries Module in Yardi Voyager, including transitions for CAM reconciliation setups.
• Establish the budget for CAM and other recoverable income, ensuring the expenses align with budgeted expenses, make necessary adjustments and providing the forecasts within the budget scope.
• Calculate monthly CAM escrow estimates for future years based on historical billings, contractual obligations and projected expenses.
• Perform key control activities and provide audit support associated with all CAM related charges.
• Provide detailed breakdowns and explanations of CAM charges to tenants, addressing any inquiries or disputes in timely and professional manner.
• Provide financial reports related to CAM charges, including variance analysis, CIE, actuals vs budget comparisons and expense tracking and ad-hoc qualitative and quantitative analysis or reporting requests.
• Audit and verify expenses related to CAM, Utilities, Insurance, Taxes and other operating costs to ensure accuracy in CAM billings.
• Ensure the recoverable CAM expenses are accurately allocated to tenants in line with lease agreements and within required deadline.
• Identify and recommend improvements to CAM processes, procedures and billing to ensure efficiency and accuracy.

SUPERVISORY RESPONSIBILITIES

• None

EDUCATION/EXPERIENCE REQUIREMENTS: (including certification, licenses, etc.)

• 2-3 years’ experience in real estate accounting or financial analysis, with a focus on CAM charges in a commercial asset setting.
• Experience in Yardi Voyager or comparable property management software.
• Prior experience with Triple Net Leasing, Gross Lease, Base Year Tenants.
• Proficient in Microsoft Office, specifically Excel and Word.
• Ability to review and interpret lease language.
• Demonstrated knowledge of property accounting and CAM principles.
• Ability to operate standard office equipment.

KNOWLEDGE, SKILLS AND ABILITIES:

• Ability to read, analyze and interpret complex agreements.
• Strong written and verbal communication skills.
• Ability to read and comprehend complex instructions, correspondence and memos.
• Ability to effectively present information to customers, clients and other employees of the organization.
• Excellent attention to detail and analytical skills.
• Ability to manage deadlines, work under pressure and resolve tenant disputes.
• Excellent teamwork skills, with the ability to collaborate effectively across departments and contribute to group initiatives and special projects.
• Strong work ethic, a high level of integrity and the desire to take initiative.
• Ability to apply common-sense understanding to follow instructions and solve practical problems.
• Experience in budget processes in commercial real estate field is a plus.

PERFORMANCE METRICS:

• Accuracy and quality of the work produced.
• Timeliness in delivering completed tasks and projects.
• Feedback from clients, peers, customers and other relevant stakeholders on the individual’s effectiveness.
• Contribution in the team and collaborative efforts.