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Fund Accounting Manager

Employer
Realterm
Location
Annapolis, Maryland (US)
Salary
Commensurate with skill set
Closing date
Aug 5, 2022

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Job Role
Manager
Sector
Property & Real Estate
Contract Type
Permanent
Hours
Full Time

Summary

This position is responsible for the day to day accounting and quality of deliverables of the company’s close-ended and open-ended funds and is responsible for the integrity and timeliness of the fund(s) financial close and financial and investor reporting with respect to GAAP, company policies and contractual agreements.  This individual is a hands-on, experienced, proactive accounting leader who fosters a sense of ownership, adaptability and accountability.

Essential Duties and Responsibilities

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
  • Assist Fund/Asset Management team with Advisory/AGM/AIP schedules and materials, as needed
  • Respond to all investor ad hoc requests timely

 

Directly responsible for the financial statement close of fund related entities and consolidated 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.

Be a resource to the Fund Controller.    

  • 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.

 

 

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. 
 

Competencies

Accountability

Character, Trust, Integrity

Planning, Decision-Making & Initiative

Development & Learning

Collaboration, Communication & Teamwork

Qualifications

 

  • Must be able to multi-task, be well organized, and flexible in fast-paced environment Tenacious, determined, and enthusiastic in meeting deadlines. Self-starter, taking initiative on daily tasks, and able to work in an organized manner Demonstrated critical thinking, initiative and good judgement as well as constructive problem solving, deadline focused Professional and able to act within legal, ethical and risks boundaries Strong and demonstrated interpersonal skills Excellent verbal and written communication skills, with ability to communicate with all staff and executive levels within the organization Proficient in Microsoft Office Suite applications Strong understanding of the application of US GAAP and investment accounting principles Effectively work as a team member and a team leader; and be able to motivate, lead and develop staff

Education and/or Experience

 

  • 4-7 years private equity fund accounting experience, including working with institutional investors preferred Real estate experience preferred Public accounting experience preferred Bachelor’s degree in Accounting or related field  MBA and/or CPA is preferred.

Work Environment

 

The position will work in a general office setting and may require travel, up to 10% of time annually, to remote office locations based on organizational/business needs.

 

Physical Demands
Must be able to remain in a stationary position for most of the workday, sitting at a desk, consistently operating a computer. The person in this position must be able to access file cabinets and office machinery (to include a computer, copier, and fax machine). On occasion, may need to lift boxes of up to 10 lbs.

 

Realterm US, Inc.is an equal opportunity employer, as we value and respect diversity. We encourage diversity in ideas, opinions, experiences and identities. We do not discriminate in our employment practices based upon protected class, to include race, color, religion, sex, national origin, age, disability or genetic information. 

 

 

 

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