Construction Accountant

US-TX-San Antonio
1 month ago
# of Openings

Company Overview

Acquiring, developing, and managing quality real estate investments since 1982, USAA Real Estate provides superior returns investing across the risk spectrum, with expertise in office, industrial, multi-family, retail and hotel assets. As a significant co-investor in all programs, USAA Real Estate maintains an “INVESTOR FIRST” mentality.  USAA Real Estate is the real estate investment management arm of USAA, a leading financial services company serving military families since 1922. USAA Real Estate has achieved a track record of success living up to the high standards set at USAA and sharing its culture.  USAA’s balance sheet puts USAA Real Estate in a position of strength – well capitalized to invest in multiple strategies.  USAA Real Estate is headquartered in San Antonio, Texas.

Job Description

Job Purpose


The Project Cost Accountant is responsible for all aspects of Accounting and Reporting as it relates to institutional commercial real estate development and construction projects.  Responsible for job cost tracking, balance sheet reconciliations, research, and communication with project managers on project status and payment approvals.  


Essential Duties

  1. Reconcile projects costs to the general ledger.
  2. Work with project managers or 3rd party development partners to obtain information to book monthly draw accruals.
  3. Provide corporate reporting with capital forecast requirements.
  4. Be able to read and interpret development and operating agreements to make sure we are in compliance with requirements.
  5. Maintain the promote/participation schedules making sure the calculations adhere to the specific project agreement.
  6. Review and enhance the existing system of controls and financial reporting for development and construction projects.
  7. Responsible for the processing, reviewing, coding, tracking and general ledger posting of construction draws for multiple projects.
  8. Maintain the project budget in the system making sure the approved budget is entered. Update the budgets in the system only with proper approval.
  9. Work with project managers on variances from approved project budget.
  10. Update construction draw schedules.
  11. Process project change orders and budget revisions.
  12. Work with project and asset managers as the project nears completion to develop an operating budget.
  13. Verify, review and analyze property general ledgers on both cash and accrual basis ensuring accuracy and adherence to established accounting policies and procedures. Responsible for general and advanced accounting functions and for meeting the accounting department calendar deadlines.
  14. Interact with internal and external customers, other accounting team members, asset managers, property managers and all necessary departments to ensure prompt resolution of issues and achieve maximum efficiency of operations.
  15. Review specific general ledger accounts to determine if costs should be billed back to a Joint Venture and if so invoice accordingly.
  16. Assists with special projects and other related duties as may be assigned.


Minimum Qualifications:

  • Bachelor's Degree in Accounting or Finance
  • 3 -5 yrs. Development / Construction Accounting experience; must be recent experience
  • Experience with Cost Accounting and Budgeting

Preferred Qualifications:

  • Advanced skills in Word and Excel
  • Self-starter, strong attention to detail and deadline oriented
  • Strong analytical skills, verbal and written communication skills
  • Financial, analytical and problem solving skills
  • Ability to handle multiple tasks; meet reporting deadlines; and possess strong interpersonal skills
  • Ability to adapt to change and work in a team environment

Physical Requirements:

  • Regularly required to sit for extended periods of time; frequently required to stand, walk, and use business equipment daily such as computer, copier, fax, telephone, etc.; frequently required to reach overhead, bend, and lift objects of up to 25 lbs.
  • Ability to handle stress caused by multiple priorities, and other unforeseen situations associated with the organization.
  • Eyesight and hearing must be correctable to standard level.


At USAA Real Estate our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, USAA Membership eligibility, educational and professional designation assistance, business casual dress attire and much more!  Qualified applicants must successfully complete a pre-employment background and drug screen.  The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.


USAA Real Estate is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.


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