Service Charge Accountant in London - Mace

Job Overview

London, England
Job Type
Full Time
Date Posted
4 days ago

Additional Details

Job ID
Job Views

Job Description

The opportunity

Project: This is a residential estate project.

The service charge accountant will take overall responsibility to produce the service charge budgets, reporting actual costs, residential and commercial unit invoicing and the reconciliation of the service charge actuals to budget. Supporting this, the role will also have responsibility for maintaining the budget allocation and apportionment models and the related administration of refunds/charges following a reconciliation. This also includes the handling of all service charge financial queries for the client (600+ residents across many blocks as well as commercial properties). Communicating with confidence to residential and commercial stakeholders will be pivotal to the success of this new role.

Your responsibilities will include:

Working in collaboration with the property manager to compile the annual service charge budget ensuring that it demonstrates genuine value for money through comparisons with regular benchmark exercises. 

Maintaining the integrity of the master service charge file.

Overseeing the preparation and issuing of the service charge invoices to residents in line with the RICS guidelines and industry practice.

Answering all service charge queries.

Reconciling supplier accounts, in particular utility and insurance suppliers.

Ensuring the ledgers are accurate at year-end and making accruals to reflect full-year costs.

Chasing and reporting on all unpaid service charges.

Assisting with the production of all month-end service charge accounting, reporting and forecasting including maintaining a service charge spend-to-date position per cost line.

Working with supply chain partners to understand costs and potential savings.

Understanding the asset life cycles to provide summary information and recommendations for the sinking pot spend. 

Assisting to drive sustainability and energy-saving initiatives across the development and supply chain delivery partners to lower the overall carbon footprint.

Keeping abreast with all relevant real estate legislative changes. Calculating and entering accruals and prepayment journals.

Calculating the actual billing and reconciling non-budgeted utility and insurance re-charges.

Providing ad hoc financial insight and assisting the property manager with the preparation of the presentation material for the AGM. 

Maintaining the details on the service charge system (Strataware), recording receipt of service charges, and maintaining resident details.

Assisting the site team in maintaining the reserve fund and reporting its status as required.

Liaising with the management company on property sales to ensure records of residents are maintained accurately.

Being cultural fit with an organisation that believes in safety first, being client-focused, creating opportunities for team members and always acting with transparency and integrity.

Collaborating with internal Mace finance colleagues and the service charge management team.

About you

You will ideally have basic accounting qualifications and familiarity with service charge accounting software. You have proven residential service charge accounting experience.

You have knowledge of how service charges are calculated and invoiced to residents. You have knowledge and understanding of the current requirements of real estate legislation and good industry practice. You have experience in the service charge management accounting process. With an understanding of accruals and prepayments and accounting principles.

You are digitally savvy with experience in using Strataware. You can build lasting client relationships and provide support to strong, motivated teams. You will have a facilities management background and be hungry to grow your career and enjoy the opportunities Mace has to offer.



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