Accounting Manager

Company Overview

Magnolia Capital (“Magnolia”) is a Chicago-based real estate investment firm focused on finding and creating value within the residential real estate space. Magnolia was founded in 2016 with a focused vision to redefine rental housing investing through empowering a world-class real estate team with a technology-forward platform and sound investment principles unseen elsewhere in the industry. Magnolia is building a talented, highly motivated team of experts and a best-in class, data driven platform that will allow the firm to create exceptional results for its stakeholders- customers, partners, associates, and shareholders alike.

Magnolia, along with its multifamily and single-family operations and property management brands (STYL Residential and National Home Rentals), manages wholly- or partially-owned properties across the U.S., that are thoughtfully designed to be beautiful, community-spirited and create an elevated living experience.

Magnolia offers the culture and opportunity of an entrepreneurial start-up, supported by the scale, stability, and capital resources typically found in a seasoned business.

For more information visit:

www.magnoliacap.com, www.stylresidential.com or www.nationalhomerentals.com

Job Summary

Magnolia Capital is seeking an experienced and motivated Accounting Manager to lead property financial reporting and accounting functions for our growing portfolio of institutional-quality, multifamily properties. This role will manage accounting operations, mentor junior team members, and ensure accurate and timely financial reporting. The Accounting Manager will collaborate closely with Magnolia’s property management brand, STYL Residential, and internal teams to deliver strategic financial insights and maintain compliance with accounting standards.

The successful candidate should have a working knowledge of multifamily real estate and must be a self-starter, organized, trustworthy, reliable, punctual, detail-oriented, and personable.

This position is based out of our HQ in Chicago.

Essential Job Functions

• Hire, train, and manage a team of staff and senior accountants
• Review monthly operating statements and variance explanations for accuracy and completeness
• Review property level payables and receivables; inquire of property management team about unusual activity or past due balances
• Review and maintain property fixed asset records, including GAAP and tax depreciation
• Review monthly bank and balance sheet reconciliations prepared by staff accountants and ensure timely clearance of reconciling items
• Assist in the training of on-site and off site staff on STYL policies and procedures related to accounting, reporting, and payable processing
• Process payroll for STYL Residential
• Assist with year end audit
• Evaluate and improve existing policies, procedures, systems, and timelines
• Administer company P Card program used by on-site managers
• Administer company Gift Card program for resident referrals and retention
• Calculate and bill monthly property management and ancillary fees
• Research relevant accounting issues and document findings/conclusions
• Perform monthly, quarterly, and year-end closings of general ledger in accordance with GAAP
• Perform other duties as assigned
  
  
  

Education And Experience

• Bachelor's Degree required in Accounting
• 5-7 years of experience in accounting
• CPA strongly preferred
• Previous experience with institutional real estate accounting
• Proficiency using RealPage, Yardi and similar systems
• Strong working knowledge of GAAP
• Excellence time management skills
• Strict attention to detail
• High degree of confidentiality required
• Strong written and verbal communication skills
• Proficient with Excel and other Microsoft Office Suite products
• Ability to collaborate and work in a team environment
• Ability to meet stringent deadlines in a fast paced, results-oriented environment
  
  
  

Base Salary Range

The expected base salary for this position is $100,000-$120,000. The actual salary offered may differ based on several factors, such as location and experience. Additionally, this role is eligible for a discretionary annual bonus.

What We Offer:

Magnolia Capital offers competitive compensation, bonus opportunities, and ambitious growth plans. Our robust package includes: medical/dental/vision/life insurance, 401(k) plan, flexible time off, hybrid schedule, business casual dress code, volunteer days, and more!

Promoting our associates’ career growth and providing opportunities for advancement is a cornerstone value of our company. Our startup culture will allow for the best and brightest talent to excel in an entrepreneurial setting, while our institutional funding and experience will offer the ability to execute an ambitious growth plan for the company.

Magnolia Capital is an equal opportunity employer. Magnolia Capital prohibits discrimination and harassment of any type and affords equal employment opportunities to employees and applicants without regard to race, color, religion, sex, national origin, age, disability or genetic information.