About the Opportunity
Our client is a very successful real estate investor and developer, and they are actively seeking a Fund Controller for their multi-family property portfolio. The responsibilities of the Fund Controller include overseeing accounting, performance measurement, and reporting functions, FP&A, and liquidity for open and closed-end funds. This role supervises an Assistant Controller and the admin (which does both fund and property level accounting), and the team will expand with the growth of the fund. The CFO here has a pedigree background, and is notoriously phenomenal to work for! The opportunity can be located in NYC, Atlanta, or Boston, and they are working in the office 3 days per week.
The annual base salary range is $175,000 to $240,000. Actual compensation offered to the successful candidate may vary from posted hiring range based upon geographic location, work experience, education, and/or skill level, among other things. Details about eligibility for bonus compensation (if applicable) will be finalized at the time of offer.
Job Responsibilities
- Responsible for the accounting, performance measurement, and reporting functions for an open-end fund. This includes overseeing the review of monthly, quarterly, and annual reports for inclusion in internal and external accounting, performance and tax financial reports
- Supervise and oversee third-party provider of Fund Accounting services and internal accounting team who will be responsible for the day-to-day accounting and internal and external financial reporting Conduct annual performance evaluations and manage overall costs
- Maintain an active relationship with the corporate accounting, IT, capital markets, compliance, and internal and external legal and tax teams
- Maintain a close professional relationship with the property accounting team and asset and portfolio management teams to facilitate timely and accurate accounting and reporting
- Manage the accounting team’s participation in the acquisitions, leveraging and disposition of assets and oversee preparation/review of settlement documents, due diligence work, and transaction recording
- Review the Fund’s annual business plans and budgets, including review of income and expense projections, and certain ownership related cost budgets
- Understand capital structure of the fund and underlying joint ventures, where applicable; interpret joint venture and fund operating agreements and ensure equity allocation, carried interest, and incentive and management fees are calculated in accordance with underlying agreements. Monitor actual and projected cash flows and liquidity requirements for the Fund, ensure that appropriate capital calls and distributions are made in a timely manner on a basis consistent with the underlying operating agreements. Maintain complete and accurate records of all capital contributions and distributions and issue capital statements quarterly
- Collaborate with tax team on foreign investors tax withholdings as applicable
- Review interim financial statements and covenant calculations in fulfillment of Fund’s lender requirements, including lender reporting requirements
- Coordinate year-end audits with external auditors
- Manage investor requests and data submissions to investors in their prescribed format in coordination with the investor relations team
- Evaluate and ensure accuracy of quarterly Fund NAV and share price and perform reconciliations, ensuring that all Fund calculations are consistent with underlying operating agreements.
- Ensure compliance with various REIT structures throughout the fund, including but not limited to, baby REITs, taxable REIT structures and fund level REITs
- Partner with the Compliance team on regulatory documentation including but not limited to, Form PF, Form ADV, ERISA, VCOC and other policy, procedure, and control documentation to ensure compliance as a Registered Investment Advisor
- Manage ILPA, NCREIF, MSCI and INREV submissions
- Manage the returns calculations (TWR, IRRs, equity multiples) and benchmarking, as applicable
- Manage/lead data integration projects across the platform utilizing best in class technology, identify technology solutions and participate in and drive technology initiatives
Job Requirements
- Bachelor’s degree in accounting
- MBA is preferred, but not required
- 8-12 years Big 4 or combo real estate fund accounting leadership experience
- CPA license required
- Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manual
- Ability to work with mathematical concepts such as probability and statistical inference
