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Job Description

Senior Manager, RES Lease Accounting -Housing And Transportation Administration Real Estate-BI Corporate-42nd Street-Full-Time-Days

This position handles Contract Review and Administration, Financial Lease Administration, Financial Due Diligence, Financial Audit/Reporting and Special Projects. Mainly responsible for the oversight of the accounting and reporting related to Real Estate Services’ lease transactions, including managing staff and system resources to ensure team goals are achieved, this visible role oversees the lease management, tenancy audit and payment processes relating to all the Hospital’s operating leases.

Qualifications

• Bachelor?s Degree in Accounting required.

• CPA (preferred)

• 5 years minimum accounting experience in financial reporting with knowledge of Real Estate Accounting and at least 4 years minimum experience in managing role.

Non-Bargaining Unit, B2J - Housing And Transportation Administration - BI, Mount Sinai Beth Israel

Responsibilities

CONTRACT REVIEW AND ADMINISTRATION:

• Review and analyze all lease/sublease contracts, estoppel and outside vendor contracts and work proposals. Extract relevant financial terms of the contracts.

• Review and approve invoices for services rendered by Landlord and/or vendors to ensure that costs match the scope of work outlined in the contract.

• Managing the financial aspects of the contract, including monitoring performance/compliance, handling disputes, and addressing/resolving issues.

FINANCIAL LEASE ADMINSTRATION

• Lease Abstraction: Manage the extraction of key information and financial data from the lease agreement into Lease Analysis/Abstract and summarizes the most essential clauses defining the commercial/legal/functional terms of the transaction.

• Database Management: Oversee database management of real estate portfolio (in Excel and Visual Lease software) and ensure an accurate and up-to-date real time database system. Interface with the acquisition and disposition group to obtain information necessary to properly account for all leases, including possession date, co-tenancy and other requirements. Maintain comprehensive lease database. Track and monitor critical dates, and co-tenancy thresholds.

• Rent Processing: Provide management supervision of lease accountants’ lease payment processing of MSHS real estate portfolio (i.e. ensure that charges for lease expenses, real estate taxes, CAM and Operating Expense charges are accurate in accordance with the terms of the leases). Ensure proper accounting of all lease-related costs, including free-rent periods and construction allowances. Manage landlord/vendor relationship including resolution of lease related issues.

• Accounting & Budgeting : Oversees the management of month-end closing processes related to leases including journal entry and reconciliation review. Coordinate preparation of budgets and projections for lease-related expenses (i.e. CAM, RET, etc.,) Reviews/explains any variances to budget/projection on a regular basis.

• Lease Audit: Perform periodic (monthly/annual) landlord statements’ reconciliation of rent, real estate tax calculations, CAM and OPEX charges and communicate, follow-up and resolve with landlord errors and discrepancies identified in the process. Design and execute desktop audit strategies which include identifying focus areas that will maximize recoveries and partnering with acquisitions and disposition group to ensure audit findings are incorporated in future lease negotiations. Perform in-house full lease audit or in coordination with outsourced auditors as deemed necessary. Manage the development of processes and systems to streamline the lease administration and real estate management functions while recommending improvements to internal control process.

FINANCIAL DUE DILIGENCE

• Assists in reviewing financial data, real estate tax liabilities, utilities and penalties for possible violations whenever there are acquisitions/dispositions or refinancing of properties; assist consultants by providing required information and preparing financial data/analysis and budgets as needed.

• Provide analytical accounting support to real estate and divisional finance relating to lease scenarios and structures to ensure the best possible outcome for MSHS lease transactions.

FINANCIAL AUDIT / FINANCIAL REPORTING AND SPECIAL PROJECTS

• Work closely with internal and external auditors’ in meeting their audit requirement during interim and year end audits. Prepare reports/schedules/ analysis as required by internal and external Auditors.

• Support the RES Department on additional real estate management and financial reporting responsibilities and ad hoc reporting for special projects and senior management requests related to leases.

STAFF SUPERVISION/PERFORMANCE EVALUATION

• Train, coach, prioritize workflows and review day-to day work of Lease Accountants. Provide performance feedback of Lease Accountants and perform their annual staff evaluation.

About Us

Strength Through Diversity

The Mount Sinai Health System believes that diversity, equity, and inclusion are key drivers for excellence. We share a common devotion to delivering exceptional patient care. When you join us, you become a part of Mount Sinai’s unrivaled record of achievement, education, and advancement as we revolutionize medicine together. We invite you to participate actively as a part of the Mount Sinai Health System team by:

• Using a lens of equity in all aspects of patient care delivery, education, and research to promote policies and practices to allow opportunities for all to thrive and reach their potential.

• Serving as a role model confronting racist, sexist, or other inappropriate actions by speaking up, challenging exclusionary organizational practices, and standing side-by-side in support of colleagues who experience discrimination.

• Inspiring and fostering an environment of anti-racist behaviors among and between departments and co-workers.

At Mount Sinai, our leaders strive to learn, empower others, and embrace change to further advance equity and improve the well-being of staff, patients, and the organization. We expect our leaders to embrace anti-racism, create a collaborative and respectful environment, and constructively disrupt the status quo to improve the system and enhance care for our patients. We work hard to create an inclusive, welcoming and nurturing work environment where all feel they are valued, belong and are able to advance professionally.

Explore more about this opportunity and how you can help us write a new chapter in our history!

“About the Mount Sinai Health System:

Mount Sinai Health System is one of the largest academic medical systems in the New York metro area, with more than 43,000 employees working across eight hospitals, more than 400 outpatient practices, more than 300 labs, a school of nursing, and a leading school of medicine and graduate education. Mount Sinai advances health for all people, everywhere, by taking on the most complex health care challenges of our time — discovering and applying new scientific learning and knowledge; developing safer, more effective treatments; educating the next generation of medical leaders and innovators; and supporting local communities by delivering high-quality care to all who need it. Through the integration of its hospitals, labs, and schools, Mount Sinai offers comprehensive health care solutions from birth through geriatrics, leveraging innovative approaches such as artificial intelligence and informatics while keeping patients’ medical and emotional needs at the center of all treatment. The Health System includes approximately 7,400 primary and specialty care physicians; 13 joint-venture outpatient surgery centers throughout the five boroughs of New York City, Westchester, Long Island, and Florida; and more than 30 affiliated community health centers. We are consistently ranked by U.S. News & World Report's Best Hospitals, receiving high "Honor Roll" status, and are highly ranked: No. 1 in Geriatrics and top 20 in Cardiology/Heart Surgery, Diabetes/Endocrinology, Gastroenterology/GI Surgery, Neurology/Neurosurgery, Orthopedics, Pulmonology/Lung Surgery, Rehabilitation, and Urology. New York Eye and Ear Infirmary of Mount Sinai is ranked No. 12 in Ophthalmology. U.S. News & World Report’s “Best Children’s Hospitals” ranks Mount Sinai Kravis Children's Hospital among the country’s best in several pediatric specialties. The Icahn School of Medicine at Mount Sinai is ranked No. 14 nationwide in National Institutes of Health funding and in the 99th percentile in research dollars per investigator according to the Association of American Medical Colleges. Newsweek’s “The World’s Best Smart Hospitals” ranks The Mount Sinai Hospital as No. 1 in New York and in the top five globally, and Mount Sinai Morningside in the top 20 globally.

The Mount Sinai Health System is an equal opportunity employer. We comply with applicable Federal civil rights laws and does not discriminate, exclude, or treat people differently on the basis of race, color, national origin, age, religion, disability, sex, sexual orientation, gender identity, or gender expression. We are passionately committed to addressing racism and its effects on our faculty, staff, students, trainees, patients, visitors, and the communities we serve. Our goal is for Mount Sinai to become an anti-racist health care and learning institution that intentionally addresses structural racism.”

EOE Minorities/Women/Disabled/Veterans

Compensation Statement

Mount Sinai Health System (MSHS) provides a salary range to comply with the New York City Law on Salary Transparency in Job Advertisements. The salary range for the role is $78884 - $118326 Annually. Actual salaries depend on a variety of factors, including experience, education, and hospital need. The salary range or contractual rate listed does not include bonuses/incentive, differential pay or other forms of compensation or benefits.