Accounting Manager – Leading REIT!
The Accounting Manager position is a newly opened opportunity to join one of the largest and fastest growing locally based commercial real estate developer and REIT with over 300 employees and $8B AUM. The Accounting Manager will be responsible for the day-to-day accounting, oversee fund accounting and investor reporting, financial statement preparation and compliance, and supporting business teams with budgeting and analysis. In addition to offering a highly competitive compensation plan ranging to $140,000 and world class benefits, this is a unique opening to join a dynamic market leader with significant growth and career mobility. Additionally, this is an exception opportunity for professional public accounting professionals with 5 to 10 years of experience with exposure to real estate, private equity, or related financial services organizations to transition directly into leadership role. Candidates should be able to work in the companies headquarter office located in the Annapolis, MD area.
Accounting Manager Job Description
- Directly responsible for the financial statement close of fund related entities and consolidated results.
- Support business team and internal customers including asset management, tax, capital markets and others and proactively develop an effective relationship by meeting regularly to deliver financial results.
- Oversee the monthly close for all non-property entities within the Fund structure and ensure accuracy and timeliness of completion of consolidated results.
- Analysis of the inter-company transactions for related party footnote.
- Validate accuracy of asset management and incentive fees.
- Validate accuracy of foreign exchange entries.
- Ensure optimization of shareholder loan.
- Preparation of consolidated balance sheet review packages.
- Understanding of real estate valuations recorded quarterly and reason for valuation adjustments.
- Understanding of deal transactions and impact to fund valuation model and financial reporting.
- Own and document policies and procedures related to fund accounting function and associated internal controls. Ensure financial information is maintained in accordance with GAAP and the company’s policies and procedures.
- Directly responsible for overseeing the completion of quarterly and annual compliance reporting.
- Oversee drafting of the consolidated financial statements for the fund(s) and ensure compliance with GAAP.
- Oversee drafting and ensure accuracy of fund investor report(s), including support for all schedules.
- Ensure accuracy of NAV and unit share price calculations.
- Responsible for fund level debt compliance, including average interest rate calculation for reporting.
- Oversee completion of quarterly investor questionnaires and ad-hoc special requests.
- Preparation of PBC workpapers for interim and annual audit and tax compliance.
- Create and update annual budgets/reforecasts for all non-property entities.
- Key responsibility for maintaining investor documents and fund financial knowledge and lead contact for investor requests. Read, interpret, and summarize complex legal documents, including partnership documents and lender agreements.
- Support Fund/Asset Management team in ensuring fund reporting is in compliance with partnership agreements, including an understanding of key deal terms and influence on reporting.
- Support Fund/Asset Management in understanding the consolidated financial results through analysis and preparation of variance analysis.
- Review and ensure accuracy of all investor notices re: capital calls/distributions, including the ILPA template, if required
- Maintain Investor capital accounts
- Preparation of waterfall and carried interest calculations.
- Manage fund level cash flow needs, including cash available for distribution to investors, as needed
- Proactively communicate significant issues to the Controller and assist in communicating with the business partners.
- Assist is developing more efficient and/or effective ways to organize, deliver or consolidate work products and develop best practices including automation of reporting and analysis of financial results.
- Assist in communicating and carrying out the department strategy.
Accounting Manager Job Requirements
- 4-10 years ideally with real estate development, REIT, OR private equity fund accounting experience, including working with institutional investors
- Real estate experience and/or public accounting experience a plus.
- Bachelor’s degree in accounting or related field
- MBA and/or CPA is preferred.
- Must be able to work at the company’s corporate office in Annapolis, MD although partial work from home flexibility will be considered
- Must be able to multi-task, be well organized, and flexible in fast-paced environment
- Strong understanding of the application of US GAAP and investment accounting principles