Senior Analyst, Tenant (Commercial) Recoveries

Realty Income aims to be a globally recognized leader in the S&P 100, committed to creating long-term value for all stakeholders. These stakeholders include our dedicated team members, who embody our purpose: building enduring relationships and brighter financial futures. This guiding principle serves as a beacon for our team, influencing every action we take.
Our employees consistently invest their time, commitment, and dedication into the company, and in turn, they receive investment returns in the form of purpose, belonging, and opportunities for advancement. 
We are committed to best-in-class corporate responsibility practices through environmental initiatives, governance programs, and community outreach projects. From the boardroom to the breakroom, our team members make a difference every day. 

Realty Income is looking for an experienced Senior Analyst Real Estate Finance & Operations (Senior Analyst, Tenant (Commercial) Recoveries) who will be responsible for supporting the administration and execution of tenant recovery programs, including CAM, insurance, tax, and fixed recovery billings. This role performs lease reviews, reconciliation activities, tenant ledger analysis, and dispute resolution to ensure accurate billing and compliance with lease requirements. The Senior Analyst partners with internal and external stakeholders and provides guidance and training to fellow analysts.
 

What You Will Work On:

 Recoveries 

• Prepare and complete insurance, tax, and CAM reconciliations in an accurate and timely manner.

• Review, validate, and approve insurance and tax reconciliations prepared by third-party service providers. 

• Research and resolve outstanding reconciliation variances, payment discrepancies, and related tenant inquiries. 

• Partner with Rent Specialists to review NNN recoveries, rent receipts, and tenant ledger activity to ensure accuracy and lease compliance. 

• Maintain and monitor fixed CAM schedules, coordinating updates with the Lease Administration team to ensure accurate billing. 

• Maintain and analyze recovery tracking tools to support reporting, workflow management, and reconciliation deadlines. 

Administration 

• Analyze and interpret leases, amendments, title documents, and related legal agreements to support CAM, tax, and insurance recoveries while maintaining accurate lease information in Yardi. 
• Represent Real Estate Finance and Operations as the point of contact for all tenant inquiries involving CAM payments, reconciliations, supporting documents, disputes, and related items. 

• Facilitate updates to recovery estimates and billing schedules based on current reconciliation activity and lease requirements. 

• Support year-end audits, data validation efforts, and special projects to improve operational efficiency and data accuracy. 

• Review general ledger activity and prepare or process journal entries, as needed. 

• Provide follow-up with tenants on delinquencies and update accounts receivable notes and trackers. 

• Accommodate various requests for information relating to third-party management. 

Billings & Support 

• Maintain third-party management and association contacts and serve as a primary liaison for payment inquiries, disputes, and service requests. 

• Obtain, review, and maintain W-9 forms and certificates of insurance to support vendor compliance and risk management requirements. 

• Review, process, and track third-party association invoices through Yardi workflows and maintain recurring invoice templates, as needed. 

• Review accounts payable activity to identify missing invoices, request supporting documentation, and ensure complete expense records. 

• Enhance Microsoft Power BI reporting to accurately reflect the status of CAM third-party invoice payments, insurance reconciliations, tax reconciliations, and CAM reconciliations, ensuring real-time visibility into recovery activities and workflow status. 

Leadership  

• Develop comprehensive training strategies, initiatives, and materials for the analyst team to enhance skills and improve performance. 

• Train internal and contracted analysts. 

• Provide mentorship and technical guidance to analysts. 

• Develop and maintain process documentation and SOPs. 

• Oversee and coordinate third-party recovery support resources. 

• Lead selected projects, year-end audits, and special initiatives. 

• Manage and review moderate-to-complex CAM reconciliations.

• Provide technical oversight and quality review of reconciliations prepared by analyst and third-party providers.

What You Need To Be Successful: 

• Knowledge of commercial tenant ledgers and general ledger accounting is required. 
• Experience with commercial real estate is required.  Real Estate Investment Trust (REIT) experience preferred. 
• Strong knowledge of and ability to use Microsoft Office, Outlook, Word, Excel, and PowerPoint. 
• Hands on Yardi Voyager experience is preferred. 

• Ability to identify information to clarify a situation, seek that information from appropriate, multiple sources, and use skillful questioning to abstract the information. 

• Ability to recognize discrepancies and inconsistencies in available information. 

• Ability to organize complex information and materials for others. 

• Strong oral and written communication skills. 

• Ability to cultivate and maintain positive, working relationships.  

• Demonstrates initiative, dependability, strong organizational skills, detail-oriented, and a desire to learn and assume increasing responsibility over time. 

• Demonstrates integrity and commitment to the highest ethical standards and personal values. 
• It is expected to perform the duties of the position a qualified candidate will have a bachelor’s degree in accounting, finance, business administration, or related field and 3 or more years work experience.

This position is based in our San Diego (Del Mar area) headquarters. Monday through Thursday is in-office for collaboration, with the opportunity to work remotely on Friday. For candidates outside San Diego and its surrounding counties, remote working options may be available.

The base salary range for this role is $66,122 - $79,261 - $94,887

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Offers near the high end are uncommon but may be considered for candidates with exceptional experience and skills and are dependent on the facts and circumstances of each case. You may be eligible for an annual discretionary bonus and an annual discretionary stock award, to be discussed during the interview process. An annual pay rate and total compensation package is generally determined by the candidate's experience, knowledge, education, skills, performance, and abilities, as well as internal equity, company performance, and alignment with market data.
 
We offer a best-in-class benefits package that includes healthcare, dental, and vision insurance for employees and eligible dependents. Our 401(k)-retirement plan has a company match of 50% up to 6% of eligible compensation. Realty Income also offers other wellness, financial, and work/lifestyle-specific benefits, along with a generous PTO accrual; in addition to 12 paid holidays, and paid volunteer time. Realty Income’s purpose is to build enduring relationships and brighter financial futures, and this starts with you!

This role is subject to enhanced compliance and disclosure requirements comparable with those of a regulated financial services organization, including conflict of interest disclosures and personal trading policies.
Realty Income is an Equal Opportunity Employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. If you require accessibility support to submit your application or other reasonable accommodations to participate in the recruitment process, please contact [email protected], or call 800-375-6700. An employee will respond to your message to begin the interactive process. Please note that this phone number and email address are only for individuals seeking a disability accommodation when applying for a job.