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Assistant Controller

Glasgow, Scotland, United Kingdom
Competitive Salary
Closing date
Feb 13, 2024

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Job Role
Accounts Assistant
Contract Type
Full Time
We are looking for an Assistant Controller for our Investment Oversight team, based in London, UK. As an Assistant Controller in the Investment Oversight team department of CBRE Investment Accounting and Reporting Solutions ("CBRE IA&R"), you will work in an ambitious and growing environment. In this role, you will be part of the team and you will be responsible for coordinating and leading a team of professionals and stakeholders.

Within CBRE IA&R, you will be challenged to develop yourself, extend your knowledge and skills and to further improve and professionalize diverse processes within the company.

You will work within the Investment Oversight team which works closely with various other departments within CBRE IA&R as well with the clients. The investment oversight department is responsible for controlling and reporting tasks at the level of property owning companies. The team partners with property managers and asset managers of the client as well as other 3rd party advisors (tax, audit, legal) to get a detailed understanding of the business and economics of the property owning companies under their responsibility. The team is responsible for reporting, overall coordination, and finance management tasks .

Key responsibilities include:

  • Responsible for quarterly and year end accounting and reporting for assigned properties and related ownership entities.
  • Assist with preparation of IFRS and Local GAAP annual accounts.
  • Monitoring of changes in local requirements and legislation and analysis of impact on the property company.
  • Coordination of all the information flow between the client (business), Fund team, property manager and local SPV accountants.
  • Responsible for governance of property companies (including documentation management).
  • In a few instances, assist with service charge reconciliations.
  • Supports clients in activities related to financing (external).
  • Cooperate with treasury and transaction teams of CBRE and clients.
  • Property Forecast & Budget including analysis of actuals vs forecast/budget on property company (Propco) level.
  • Coordinate the process for property tax and related administration (control, report, payments)
  • Calculation/review of calculation of straight-lined rent incentives.
  • CIT, Deferred Tax Asset (DTA) & Deferred tax liability (DTL) estimate / calculation and prepare tax analysis packs for external tax advisors.
  • Quarterly/Annual VAT preparations.
  • Preparation of consolidated accounts.
  • Coordination of explanations and answers to Fund team
  • Validation on the intercompany positions reported. Candidate should have an understanding of intercompany Loan interest calculations.
  • Review and understanding of CAPEX assumptions
  • Ensures senior financial management support, tax planning and cash flow forecasting with respect to property companies under its supervision.
  • Coordinates and supervises audit process (as per requirements of the client) on property company level.
  • Have an understanding of the Mortgage Facility Agreement and assist with the preparation of the quarterly loan compliance reporting for submission to the external lenders.
  • Cash distribution (understanding how much can be distributed and advising on how) planning and client team support.
  • Prepare quarterly intercompany distribution and contribution forms which have to be agreed with the Fund, Portfolio Management, Asset Management, Tax and Legal Depts.
  • Supports clients in transactions (Sales/Acquisitions/Entity set ups and liquidations).

Desired qualifications and background:

  • Bachelor/ Masters degree in business administration, accounting or an equivalent.
  • Chartered/Certified Accountant designation required. A background from Big Four (KPMG, EY, Deloitte or PwC) is preferred, but not essential.
  • Experience in accounting for Real Estate funds, Holding Companies, SPVs etc. is preferred.
  • Knowledge of relevant laws and regulations, such as VAT, CIT, Local GAAP and IFRS.
  • Strong analytical skills and well-developed judgement.
  • Pragmatic and solution-oriented attitude.
  • Actively engaged and committed to the collective work of the team and taking leadership to ensure team goals are met
  • Excellent English verbal and written communication skill.

CBRE Investment Accounting and Reporting Solutions

CBRE is the largest commercial real estate company in the world. It is comprised of several business lines including leasing services, capital markets, valuations & advisory services, and asset services; with regional and global capabilities in all major markets around the globe.

Within property management, is our CBRE Investment Accounting & Reporting Solutions group that provides investor clients with vertically integrated accounting and data solutions, from property through funds.

In EMEA, CBRE IA&R provides Global and Pan-European coordination for clients providing Fund & SPV Accounting, Investor Reporting and Performance Measurement services to real estate investment-companies, sovereign wealth funds and other institutional investors in key financial markets.

Our team of professionals offer unmatched dedication to real estate. We serve only real estate and have a history of successfully serving all real estate asset classes; including simple to complex investment structures.

We have dedicated fund and investor reporting teams in 18 countries, while also being a part of our global accounting and reporting operating platform with presence in an additional 41 countries for property accounting services to provide completely integrated services.

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