Manager/Controller, Real Estate Investment Accounting - USAA Real Estate Company

January 24, 2018
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USAA Real Estate Company

San Antonio, Texas 78230

Acquiring, developing, financing and managing quality real estate investments since 1982, USAA Real Estate provides superior returns investing across the risk spectrum, with expertise in office, industrial, multi-family, retail and hotel assets. Investing for the USAA membership and aligned with more than one hundred investment partners across the world, we maintain an “Investor First” mindset with a significant co-investment in all programs. As the real estate investment management arm of USAA, a leading financial services company serving military families since 1922, USAA Real Estate has achieved a track record of success living up to the high standards set at USAA and sharing its culture. USAA's balance sheet puts us in a position of strength – well capitalized to invest in multiple strategies. This is a distinct competitive advantage. USAA Real Estate is headquartered in San Antonio, Texas.

The Manager/Controller, Real Estate Investment Accounting is responsible for managing the general accounting functions relating to a portfolio of real estate investments consisting of office, industrial, multi-family, retail and other assets. Directs and manages the professional and technical support staff responsible for financial accounting and analysis. Responsible for processing, reviewing, analyzing, and recording property and portfolio related operating data for cash, fair value and historic cost ledgers and/or reviewing the work of third parties who are providing property accounting services. Ensure accounting is in accordance with Generally Accepted Accounting Principles (GAAP) or other relevant standards. Coordinates, prepares and analyzes performance measures and reporting to USAA senior management and others. The job requires the following characteristics: a solid understanding of accounting for real estate and real estate ventures; ability and desire to lead and develop a team of professional accountants; financial, analytical and problem solving skills; the ability to handle multiple tasks; meet reporting deadlines; and possess strong interpersonal and communication skills to deal with all levels of individuals within and outside the company.



  1. Work as a team with others to manage professional and technical accounting staff. Provides guidance, mentoring, coaching and training to direct reports and co-workers. Coordinates accounting responsibility for specific properties and assists with property and portfolio reviews.
  2. Verify, review and analyze property and entity level general ledgers on both cash and accrual basis ensuring accuracy and adherence to established accounting policies and procedures. Responsible for general and advanced accounting functions and for meeting accounting department calendar deadlines.
  3. Prepare and/or review and analyze quarterly/annual financial statements including supporting schedules in accordance with GAAP and/or the fair value basis of accounting.
  4. Prepare and/or review performance measures and other financial information for Realco Senior Management, USAA parent company and third party investors.
  5. Assure compliance with relevant documents for all investments.
  6. Record the fair value adjustments for investments in real estate and debt.
  7. Interact with other accounting team members, asset managers, property managers and all other areas of the company to ensure prompt resolution of issues and achieve maximum efficiency of operations.
  8. Assist in forecasting of monthly financial results and cash projections based on budgets and known trends. Review budget to actual results and advise management of trends.
  9. Perform research on accounting treatments for unique accounting transactions. Keep abreast of new industry developments, regulatory changes, management requirements, accounting system updates, procedures, etc.
  10. Plan, prioritize and coordinate tasks to ensure completion of multiple assignments or projects within prescribed timelines.
  11. Perform or coordinate analysis, consider alternatives and make recommendations on complex real estate transactions. Serve as a consultant to management.
  12. Assist and support accounting team members. Oversee and review work prepared by accounting specialists. Provide guidance on appropriate accounting processes to complete the task at hand.
  13. Assist in the development and implementation of policies and procedures for real estate entities.
  14. Oversee processing of investment level cash receipts and disbursements.
  15. Improve processes related to above duties and responsibilities. Take a proactive approach on all accounting functions and processes.

At USAA Real Estate our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, USAA Membership eligibility, educational and professional designation assistance, business casual dress attire and much more! Qualified applicants must successfully complete a pre-employment background and drug screen. The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.


USAA Real Estate is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.

Minimum Qualifications:

  • Bachelor's Degree in Accounting or Finance.
  • CPA Required.
  • 7+ years of accounting experience.
  • 3+ years of real estate investment accounting experience.
  • Previous supervisory experience preferred.
  • Mall accounting experience preferred.

Physical Requirements:

  • Regularly required to sit for extended periods of time; frequently required to stand, walk, and use business equipment daily such as computer, copier, fax, telephone, etc.; frequently required to reach overhead, bend, and lift objects of up to 25 lbs.
  • Ability to handle stress caused by multiple priorities, and other unforeseen situations associated with the organization.
  • Eyesight and hearing must be correctable to standard level.