Fund Controller

November 14, 2017

Confidential

Newport Beach, California 92660


We are a growing firm and we are looking for driven, entrepreneurial professionals that want to grow with us and are passionate about their work.  Located in our Newport Beach California office, the Fund Controller will play an integral role in the company. Reporting directly to the Director of Finance & Accounting position, the Fund Controller will be responsible for the accounting and financial components of written communications to investors and/or internal staff, maintaining fiscal records relative to the company’s real estate portfolio(s)/fund(s), providing input for analysis relative to portfolio/fund transactions and managing a portion of the accounting staff. 

 

Overview
 

  • Accounting functions of the Funds (which includes all JV’s and separate accounts) and investment properties.
  • On-time and accurate reporting of each Fund’s and investment property overall performance and each individual investor’s capital account.
  • Providing the Director of Finance and Accounting with timely and accurate accounting and financial information.
  • Provides critical technical guidance regarding accounting treatments.
  • Reporting systems and related internal controls for the Funds and investment properties.

 

Job Duties:

 

Investment Fund Duties

  • Oversee all annual and quarterly reports and financial statements, capital call and distribution notices, and month-end and quarter-end workpapers prepared by the accounting staff for fund partnerships, joint ventures, and underlying investments.
  • Review financial statements in accordance with GAAP (fair value or historical cost accounting, as applicable) and analyze variances.
  • Work with Cortland, our fund administrator, to prepare and distribute all financial reporting packages to investors and senior leaders.
  • Manage various aspects of the property and fund accounting functions and team - including fund accounting, property accounting, AP, AR, and Job Cost. Responsible for Yardi accounting software. 
  • Review quarterly valuation and forecast schedules prepared by asset and portfolio management team. Present quarterly valuations to the Valuation Committee for approval.
  • Participate actively in discussions regarding forecast and valuation assumptions.
  • Responsible for incorporating approved valuation results into the financial statements and liaise with investors and auditors regarding the results. 
  • Ensure waterfall calculations, property-level actuals, and performance returns are complete and accurate. 
  • Prepare accounting department for annual audit.
  • Analyzes and reviews accounting records and investment projections for property acquisitions and dispositions. 
  • Assist in the preparation of lender debt compliance reporting requirements. 
  • Review and approve the monthly draw submission to lenders on all development projects. 
  • Ensure the company maintains a complete set of accounting books and records in connection with the Firm’s record retention policy. 
  • Assist the Investor Relations team for ad hoc investor requests, as needed. 

 

Property Accounting Duties

  • Review and manage property reconciliations and related reports for monthly, quarterly and annual closing packages to partners and lenders.
  • Assist in the preparation of budgets and future cash flow projections with the ability to analyze information and compare actual reports to budgets and explain variances.
  • Review and manage the daily cash management functions, including accounts payable/receivable functions, vendor payments, expense reimbursements, cash collections, cash deposits, monthly bank reconciliation, bank wire transfers and petty cash.
  • Review monthly, quarterly and annual construction management fees, property management fees, asset management fees and other fees.
  • Review monthly loan draws.
  • Work closely with various departments such as Asset Management and Property Management.
  • Manage the property accounting team.
  • Meet reporting deadlines.

 

Technical Accounting Matters

  • Review escrow and other the documents underlying new investments and prepare an abstract of the transaction structure to insure the transaction is correctly set-up in the Funds accounting and financial records.
  • On a quarterly basis write accounting position memos outlining how new investments made during the quarter will be accounted for. These memos are utilized for external audit compliance.
  • Serve as the Funds’ internal technical accounting resource, providing technical accounting support to all members of the company on an as-needed basis.

 

Financial Planning & Budgeting

  • Prepare the annual financial plans and budgets for the Funds.
  • On an on-going basis during the year, monitor the Funds financial performance; keep Director of Finance and Accounting informed with regular and ad-hoc reporting and analysis of the Funds’ performance.

 

Cultural Duties

  • Maintain a strong fiduciary responsibility to the company and Funds.
  • Enhance and/or develop, implement and enforce policies and procedures of the organization by way of systems that will improve the overall operation and effectiveness of the company. Ensure that all accounting policies and procedures are in compliance with company policies and applicable federal, state, and local regulatory agencies.
  • Keep company executives fully informed on all problems and matters of unusual significance ensuring proactive action is taken when appropriate.

 

Interpersonal Skills

  • Hands-on management and development of accounting staff.
  • Excellent Microsoft Word and Excel skills.
  • The ability to comprehend complex financial structures.
  • Strong analytical and problem-solving skills.
  • Knowledgeable of business laws, taxation, and regulations.
  • Excellent written and nonverbal communication skills with the ability to communicate technical accounting information to a cross section of audiences.
  • A collaborative, flexible, responsive, and team-orientated work style.
  • Excellent organizational, problem solving, and planning skills.
  • The discipline and ability to adhere to strict deadlines.
  • Maintain good communication with supervisor and team members
  • Positive attitude.

 

Interpersonal Attributes

  • Demonstrate the highest ethical standards.
  • Ability to manage and thrive in an environment with teams in multiple locations and that are
    separated geographically.
  • Capable of simultaneously completing all necessary requirements and improving every day.
  • Good professional and personal judgment.
  • The discipline and ability to adhere to strict deadlines.
  • Excellent organizational and problem-solving skills.

 

Reporting Relationships

  • Reports to the Director of Finance and Accounting.
  • Provide accounting guidance and direction to the property management companies.

 

The Qualifiers:

  • Bachelor’s degree in Accounting, Business Administration, Finance or related degree
  • Minimum of 10 years of fund accounting experience
  • Minimum 5 years of management experience
  • Experience with Yardi Voyager
  • Advanced Excel capabilities a must
  • Strong organizational skills with a keen attention to detail
  • Motivated and results-driven with strong work ethic
  • Ability to lead a team and be a partner to management team

 

The Perks:

  • Competitive Pay + Bonus Incentive
  • Medical, Dental, Vision and Life Insurance
  • Paid Time Off
  • 401k Plan
  • Professional Development Resources
  • Fun Work Vibe (Indoor basketball/gym with shower, brand new creative office environment to name a few…)

 

$100,000-$124,999