Controller & Head of Finance

About the role

A real estate development and investment firm is seeking a Controller & Head of Finance to lead all accounting, fund reporting and corporate finance for the firm. This single, senior role combines the Controller and CFO functions, is fully remote, and reports directly to the CEO.

About the firm

1. Develops, owns and asset-manages hotel, multifamily, office and mixed-use projects across the Southeast.
2. Manages multiple general partnership investment funds and is preparing to launch a distressed asset fund.
3. More than $5B of completed development, with approximately $500M currently under management and development.

The opportunity

1. A hands-on finance leader role at a lean, growing platform.
2. Own the books, the fund reporting and the finance relationships.
3. Help build the infrastructure for a new fund.
4. Work directly with ownership on capital structure, lenders and investors, with a seat at the table on strategy.

Responsibilities

The Controller & Head of Finance is accountable for accurate books, reliable fund reporting and sound financial decisions across every entity.

Fund reporting and investor oversight

1. Oversee the firm's third-party fund administrator. Review and approve capital calls, distributions, waterfall and promote calculations, capital account statements and quarterly investor reports.
2. Ensure fund reporting complies with each fund's operating agreement and LP side letters.
3. Prepare the financial and operational content for investor updates, the annual meeting and LP due diligence requests.
4. Build the finance and reporting infrastructure for the distressed asset fund launch, including administrator onboarding, valuation policy, loan and note-level accounting, and reporting templates.
5. Manage fund-level bank accounts and any fund credit or subscription facilities, including draws, reporting and compliance.

Accounting, close and controls

1. Lead the monthly and quarterly close for the management company, GP entities, project-level LLCs and JV entities.
2. Maintain project cost accounting, including construction draws, budget-to-actual tracking and capitalization of development costs.
3. Design and enforce internal controls: approval authorities, cash disbursement procedures and segregation of duties.
4. Supervise or perform accounts payable, receivable, payroll coordination and bank reconciliations.
5. Calculate and record management, development and asset management fees, and allocate expenses between the management company and the funds in line with fund agreements.
6. Account for acquisitions and dispositions: closing statements, escrows, purchase price allocations and gain or loss recognition.
7. Review monthly financials from third-party property managers and hotel operators, including NOI, budget variances and capital expenditures.
8. Maintain compliance with US GAAP, including fair value accounting for fund investments and loan positions.

Treasury, debt and lender relations

1. Manage cash forecasting and liquidity across all entities and funds.
2. Maintain lender relationships and loan compliance: covenant testing, reporting deliverables, draw requests and guaranty and carve-out tracking.
3. Support refinancings, recapitalizations and new acquisition financing with models, lender packages and closing deliverables.
4. Coordinate property, builder's risk and GP/D&O insurance programs and renewals with the firm's broker.

Financial planning and strategy

1. Prepare annual budgets and forecasts for the management company and each fund.
2. Partner with the CEO on capital structure, JV and fund terms, underwriting reviews and investment committee materials.
3. Provide financial analysis for acquisitions, dispositions and distressed opportunities, including returns, sensitivities and waterfall modeling.

Tax, audit and compliance

1. Coordinate annual fund and entity audits with outside auditors.
2. Manage the tax process with outside CPAs and tax advisors: partnership returns, K-1 delivery, state filings and 1031 or Opportunity Zone compliance where applicable.
3. Coordinate with fund counsel on regulatory filings (such as Form D and adviser filings, as applicable) and investor documentation.
4. Form and maintain new entities and SPVs, including tax registrations and state filings.

Systems and team

1. Own the accounting systems, chart of accounts and reporting tools.
2. Lead the accounting function: manage outside service providers and hire and develop accounting staff as the platform grows.

Qualifications

The ideal candidate has run finance for a real estate sponsor with fund vehicles and is comfortable both closing the books and sitting across from lenders and investors.

Required

1. Bachelor's degree in accounting, finance or a related field.
2. 10+ years of accounting and finance experience, with at least 7 in real estate and at least 3 at a controller, VP Finance or CFO level.
3. Direct experience with private real estate funds or JV structures: capital accounts, waterfalls and promote, and LP reporting.
4. Development or construction accounting experience: draws, cost tracking and capitalization.
5. Strong knowledge of US GAAP, including fair value accounting.

Preferred

1. CPA or Public accounting background in real estate audit or tax
2. Experience overseeing a third-party fund administrator.
3. Lender relationship and loan compliance experience.
4. Strong financial modeling skills in Excel.
5. Comfort working hands-on in a lean organization.
6. Judgment and integrity in handling confidential investor and ownership matters.
7. Experience with distressed debt, loan or note purchases, or workout and REO accounting.
8. Experience launching a new fund: administrator onboarding, valuation policy and investor diligence questionnaires.
9. Familiarity with Opportunity Zone, 1031 or hotel accounting.
10. Proficiency with real estate accounting systems such as Yardi, MRI, Sage Intacct or equivalent.

Compensation, location and how to apply

Base salary: $190,000–$240,000, depending on experience.

1. Bonus: Discretionary annual bonus.
2. Long-term incentive: Eligible for participation in a profits interest across the firm's GP and promote vehicles, subject to vesting.
3. Benefits: Health, dental and vision coverage, and paid time off.
4. Location: Fully remote within the U.S.
5. Occasional travel for lender, auditor and investor meetings, year-end close and the annual investor meeting.
6. Availability during U.S. Eastern business hours required.