Job Opportunity
Manager – Accounting, RE
Cincinnati, OH
Job Summary
Responsible for the investment accounting, consolidations, partnerships, cash and financial management for 55 partnership entities. BS/ BA in Accounting. Proven experience with financial reporting for partnerships accounting and tax reporting as well as cash management experience.
Details
Our client is a major Cincinnati HQ real estate investment holding company which currently is looking for a key professional for their Cincinnati, OH corporate HQ. The Real Estate Investment Accounting Manager reports directly to the Corporate Controller and would be responsible for the investment accounting, consolidations, partnerships, cash and financial management for 55 partnership entities. Candidates for this position must have a BS / BA in Accounting, MBA or Master in Accounting preferred, CPA REQUIRED. They must have proven experience with financial reporting for partnerships (private equity) accounting and tax reporting as well as cash management experience in a highly complex institutional investment structures, BIG 4 experience or commercial real estate accounting in a large environment or both. The company is anxious to hire. The company offers an attractive compensation package and relocation if needed. CANDIDATES MUST BE US CITIZENS OR PERMANENT GREEN CARD HOLDERS. NO SPONSORSHIP IS AVAILABLE!
Summary of Responsibilities:
Performs the financial administration and accounting functions critical to the management of the various partnership/LLC entities used in the process of company’s investment management activity (e.g., JV Developer partnership, investment management company and holding company). Works closely with company’s Investment Management and Financial Management/Performance Measurement areas as well as external accounting, legal and tax services providers to coordinate the following functions:
* Partnerships’ cash and financial management and
* Partnership/LLC accounting.
Ensures that the income and expense allocations as well as the cash management aspects of company’s partnership/LLC activities are properly accounted for, administered and reconciled in conjunction with the appropriate operating agreements. Works closely with the Real Estate Portfolio and Performance Reporting Manager.
Provides leadership in helping to define the roles and responsibilities related to the administration, management and accounting for all real estate investment partnerships/LLC. Such responsibilities will be performed within and between the financial management, performance measurement and reporting, and the investment management areas.
Position Responsibilities:
* Partnership/LLC cash and financial management:
* Conducts extensive historical accounting forensics on existing investments.
* Develops waterfall models in collaboration with the Real Estate Portfolio and Performance Reporting Manager and Asset Managers.
* Maintains and monitors capital account balances to ensure compliance with partnership agreements or operating agreements, including earned and cumulative unpaid preference, outstanding equity commitments, and balance of net equity contributions (contributions and repayments).
* Maintains compliance with waterfall structures of various real estate investments.
* Coordinates and produces quarterly and annual investor capital account statements.
* Provides data to calculate cash IRR and other performance calculations at all entity levels.
* Handles cash management and administration for investment entities including cash flow projections, client distribution planning and monthly funding/distribution reviews.
* Assists the Relationship Manager/Director of Client Relationship Management in capital call and distribution notices to investors.
* Prepares various reconciliations, and performs other account analysis.
* Liaises heavily with investment management professionals through their investment sourcing, due diligence and investment phase to understand the investments, capital call and distribution mechanisms, including the investment waterfall structure.
* Partnership accounting:
* Directly responsible for every aspect of financial reporting and performance of investments in accordance with the applicable GAAP methodologies.
* Works through other associates in the Financial Management area to ensure the proper recording of journal entries for the investments in the partnership accounting G/L system.
* Establishes a more definite partnership status review process, and oversees all controls in the areas of financial reporting along with setting up these controls.
* Manages relationships with external service providers (tax advisors, accountants, financial managers, etc.).
* Occasionally advises investment management professionals on the likely GAAP accounting treatment of the contemplated partnership structures.
* Reviews management fee calculations performed by the Real Estate Portfolio and Performance Reporting Manager.
* Prepares quarterly and annual financial statements for each partnership.
* Prepares tax work papers and ensures quality control of tax return activities by monitoring the completion and filing of tax returns by both internal and external tax preparers.
* Assists Financial Management and Asset Management with the coordination of audits of the various investment entities.
* Coordinates new investment entity and client setup and transitions within Financial Management.
* Remains current with key trends in the area of investment and partnership accounting as well as GAAP real estate accounting.
* Performs other duties as assigned by management.
Selection Criteria:
* Proven prior experience with private equity partnership accounting and tax reporting, as well as cash management experience in highly complex institutional investment structures.
* Proven working knowledge of investment management accounting standards as well as advanced modeling experience is critical.
* Proven experience in investment fund accounting; preferably working for an investment management company or accounting firm in this capacity. Must be well-versed in tax (e.g., UBTI and fractions rules vis-à-vis taxable vs. non-taxable investor entities) and fund GAAP accounting (Investment Company accounting) issues.
* Proven familiarity with the public and private capital markets, including both debt and equity, is preferred.
* Proven knowledge of real estate product structuring.
* Proven ability to effectively work with outside counsel, accounting and tax advisors, in-house legal counsel, marketing professionals and senior executives.
* Demonstrated project management experience.
* Demonstrated ability to lead and manage resources in response to deadlines and objectives.
* Demonstrated experience working effectively within a team.
* Proven ability to work independently with significant ambiguity and little direct day-to-day supervision.
Work Setting:
* Works in an office setting and remains in a continuous stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
* Performs substantial movement of wrists, hands and fingers for continuous computer work.
Educational Requirements:
* BA/BS in Accounting or Finance.
* MBA preferred.
Computer Skills and Knowledge of Hardware & Software Required:
* Expert in industry-standard investment accounting systems.
* Advanced knowledge in MS Excel.
* Proficient in MS Word and PowerPoint.
Certifications & Licenses:
* CPA.
Position Demands:
* Extended hours required during peak workloads or special projects.
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- Job Reference #: monster.com 184448138
- Compensation: $ 115,000
- Min Education: BA/BS
- Min Experience: None