Management Accountant Porto (Construction & Operations)

ABOUT LUMYA LIVING

LUMYA Living is a forward-thinking, design-led Co-Living, Serviced Apartment and Purpose-Built Student Accommodation (PBSA) operator with a growing international portfolio. Formerly Lumis Student Living, LUMYA Living is entering a new chapter defined by brand ambition, operational excellence, and a commitment to creating vibrant living communities for young professionals and students across Europe. With sites in the UK, Austria, Germany, and expansion underway in Ireland, Portugal and Spain, LUMYA Living is rapidly establishing itself as a premium brand in the global student living market.

Porto represents one of our most strategically significant new developments, a flagship asset that will anchor our Iberian expansion. Following Porto, LUMYA Living will move into development of a second Iberian asset in Malaga, Spain, creating a connected Portuguese and Spanish operating platform.

ROLE PURPOSE

The Management Accountant will join LUMYA Living at a critical juncture in the Porto project lifecycle. The role is deliberately structured in two distinct phases:

Phase 1: Construction Accountant (approx. first 12–18 months): The postholder will act as the dedicated finance lead for the Porto development, working hand-in-glove with the Development Director, project managers, main contractor and quantity surveyors. They will own cost control, and tracking, contractor payment cycles, retentions, VAT recovery on construction spend, drawdown reporting to lenders and investors, and full integration of project accounting into the Group reporting framework.

Phase 2: Management Accountant, Iberian Portfolio (from operational handover onwards): Upon practical completion and operational handover of the Porto asset, the role transitions into the Management Accountant for LUMYA Living's Portuguese portfolio, responsible for monthly management accounts, budgeting, forecasting, treasury support, statutory compliance and commercial decision support. As the Malaga development comes online, the role will extend to support that asset through the same construction-to-operations lifecycle, ultimately becoming the Iberian Management Accountant.

This dual-phase structure means LUMYA Living needs a finance professional who is equally comfortable in the muddy boots of a construction site office and in the boardroom presenting variance analysis to the Head of Finance& managing Director. The successful candidate will bring deep technical knowledge of Portuguese accounting standards (SNC), a strong grasp of management accounting best practice within the PBSA or wider real estate sector, and the commercial maturity to be trusted as the finance voice on the ground in Iberia.

KEY RESPONSIBILITIES

Project Cost Control:

Maintain the Porto development cost ledger, tracking committed and incurred costs, forecast cost to complete, and variances against the approved budget.

CAPEX Management & Reporting:

Manage a detailed CAPEX tracker across all cost categories, ensuring accurate coding to the Group chart of accounts and producing monthly cost reports for stakeholders and investors.

Stakeholder Collaboration:

Work closely with the Development Director, project managers, and quantity surveyor to validate valuations, payment applications, and change orders prior to authorisation.

Contractor & Supplier Payments:

Oversee the full payment cycle, including validation of applications, management of retentions (5-10%), and ensuring compliance with contractual terms, Portuguese law, and Group treasury policies.

Subcontractor Compliance:

Verify that all contractors and suppliers hold valid Portuguese tax and Social Security clearance certificates before  payments are released.

VAT & Construction Tax Management:

Manage Portuguese IVA on construction costs, including the reverse charge mechanism, and liaise with tax advisors on IMT, IMI, Stamp Duty, and Corporate Income Tax implications.

Monthly Management Accounts:

Produce timely P&L, balance sheet, and cash flow statements for the Portuguese (and future Iberian) portfolio, including commercial variance analysis and intercompany reconciliations.

Operational KPI & Commercial Support:

Deliver PBS-specific KPI reporting (e.g., occupancy, NOI, revenue per bed) and provide financial modelling to support pricing strategies, marketing initiatives, and operational decisions.

Budgeting, Forecasting & Strategic Planning:

Lead the annual budgeting process, maintain a rolling 13-week cash flow forecast, and develop 3-year strategic financial plans for each asset.

Statutory Compliance, Treasury & Controls:

Ensure compliance with Portuguese SNC and all statutory filings (IES, Modelo 22, IVA, SAF-T), act as the primary liaison with the OCC and auditors, and manage banking, liquidity, and internal control frameworks.

KEY COMPETENCES & PERSON SPECIFICATION

Essential

• Minimum 4– 8 years' post qualification experience in accounting and finance, with demonstrable experience in both project/construction accounting and management accounting within a commercial environment.


• Deep, current working knowledge of the Portuguese Sistema de Normalização Contabilística (SNC) and the Portuguese tax system (IVA, IRC, IRS withholdings, IMT, IMI, Stamp Duty, SAF-T (PT)).


• Proven experience managing the finance function of a construction or development project, ideally in real estate, hospitality, PBSA, build-to-rent or student housing — including cost control, contractor payments, retentions, drawdowns and lender reporting.


• Strong management accounting capability including monthly close, variance analysis, budgeting, forecasting, cashflow management and commercial decision support.


• Fluency in Portuguese and professional working proficiency in English, both written and spoken, with the ability to operate confidently in an English-language Group reporting environment.


• Degree in Accounting, Finance, Economics, Business Administration or a related discipline.

Desirable

• Certified Accountant qualification (Contabilista Certificado – membership of the Ordem dos Contabilistas Certificados, OCC).


• Additional professional qualification such as ROC (Revisor Oficial de Contas), ACCA, CIMA or equivalent international qualification.


• Working knowledge of Spanish accounting (Plan General de Contabilidad, PGC) and Spanish tax, or a clear appetite and capacity to acquire it rapidly ahead of the Malaga development.


• Prior exposure to Group-level or IFRS reporting environments and intercompany consolidation.


• Familiarity with PBSA-specific operating metrics and leasing cycles, or transferable knowledge from hotels, serviced apartments, or build-to-rent.


• Experience of implementing or upgrading finance systems in a growing business.

WHAT WE OFFER

• Competitive base salary commensurate with a senior, technically demanding role, benchmarked against the Portuguese finance market for comparable real estate and PBSA operators (significantly above the generic accountant range reflected in entry-level adverts).


• 14 month salary structure in line with Portuguese market practice (12 monthly salaries plus holiday and Christmas allowances, subsídio de férias e subsídio de Natal).


• Daily meal allowance (subsídio de alimentação) paid via meal card, at the maximum tax-exempt rate permitted under Portuguese law.