Assistant Fund Accounting Manager
Job summary:
Responsible for oversight of third-party fund administrator (TPA), to include reviewing and approving TPA work product, and ensuring all work is timely and accurate. May be responsible for fund accounting, financial statement preparation, and financial reporting if assigned non-TPA investments funds.
Essential duties and responsibilities:
For investment funds that utilize a TPA:
• Responsible for reviewing and approving all work completed by the TPA, to include capital rollforward for investments and investors, pursuit costs, distribution waterfall, IRR calculation and overall presentation of fund and investor financial statements
• Reviews offering documents, operating agreements, and any amendments to ensure TPA processes/tracks all transactions, fees, capital accounts, etc., accurately.
• Review the partnership agreements and the entity organization charts to tie out with the financial data on each deal
• Assists with year-end tax reporting and annual audits for assigned funds. Coordinates and ensures information for funds and fund investments necessary for the preparation of fund tax returns and audits is submitted accurately and timely
• Anticipates and projects cash flow and informs management of upcoming cash needs in a timely manner. Coordinates and processes transactions between funds and fund investments accurately and timely
• Prepares and/or reviews quarterly fair market value updates utilizing Excel and Yardi Investment Management
• Tracks pursuit costs for new acquisitions or development projects for assigned funds
• Prepares combines/consolidated financial statements (balance sheet, income statement, member’s equity, cash flow, etc.), with footnotes and supporting schedules, for investment funds utilizing various accounting methods – tax, GAAP, Fair Value
• Prepares periodic reports and other analysis as needed, including long-term forecasting models, cash flow models, etc.
• Assist Fund Accounting Manager in reviewing non-TPA investment fund financials, tax preparation, and audits
• Maintains adequate knowledge of various tax and GAAP rules affecting assigned investment funds
• Support team, department, and business managers on various special projects
Knowledge and critical skills:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• BS or above in accounting or related field
• CPA preferred
• Minimum of five years of real estate fund or investment accounting/finance experience
• Strong attention to detail is essential
• Familiar with a variety of accounting and finance concepts, practices, and procedures
• Strong Microsoft Excel skills; create spreadsheets, formulas, formatting, etc.
• Strong Yardi Investment Management experience preferred
• Ability to work independently and as a key member of a team in a fast-paced environment under challenging deadlines
• Exceptional oral, written, quantitative, analytical, and communication skills required
Physical demands and environmental factors:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
• Works in an office setting
• Works under minimal supervision
• Occasionally moves about to coordinate work
Critical features of this job are described under the previous headings. They may be subject to change at any time due to reasonable accommodation or other reasons. This job description does not list all the duties of the job. You may be asked by supervisors to perform other non-essential assignments and duties. You will be evaluated in part based upon your performance of the tasks listed in this job description.
