Comerica Bank Job - 39421549 | CareerArc
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Company: Comerica Bank
Location: Auburn Hills, MI
Career Level: Associate
Industries: Banking, Insurance, Financial Services

Description

Corporate Real Estate Financial Analyst
The Corporate Real Estate Financial Analyst role will be responsible for assisting in monitoring and managing the Bank's occupancy expenses, preparing financial analyses that aid in the Department's decision making for projects such as buy/sell/lease/consolidate property and the competitive bidding of real estate-related services (e.g., janitorial, landscaping, etc.), and helping bridge the gap between the financial and non-financial team members. This role reports to the Real Estate & Security Operations Manager who oversees financial operations for the Corporate Real Estate, Security, and Continuity and Recovery Management Department.   Position Responsibilities:
Risk Management

  • Participate in all Audit activities, including explaining processes/procedures, providing documentation, etc.
  • Ensure appropriate accounting standards (e.g., FASB and GAAP) are applied to all job functions, such as invoice payment, occupancy expense review, management of Corporate Real Estate's asset and liability accounts (balances of nearly $40MM), etc.
  • Abide by and help maintain the accuracy of Department-wide policies and procedures.
Expense Management
  • Process Corporate Real Estate & Security invoices as needed to ensure they are coded properly (capital vs. expense, GL account, and cost center) and paid within contractual payment terms.
  • Manage the payment of utilities and property taxes for Bank properties ensuring they are accurate, within budget, and paid on time.
  • Validate and process salary and reimbursable expenses submitted by Comerica's real estate provider, CBRE, as well as track performance against plan and disperse project management expenses to applicable projects.
  • Help manage third-party providers, such as participating in the sourcing process, tracking contractual spend, processing accruals as necessary, and providing financial oversight for Quarterly Business Reviews (QBR).
Financial Analysis
  • Participate in the preparation of the Department's annual plan and ongoing forecasting exercise for Occupancy Expenses, such as rent, CAM, and property taxes.
  • Participate in monthly financial reviews by identifying, investigating, and explaining significant plan variances.
  • Prepare accurate and timely financial analyses for buy/sell/lease/consolidate decisions, Business Investment Decisions (BIDs), supplier contracts, and any other Department initiatives and be able to provide recommendations with supporting rationale.


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