PURPOSE OF JOB
Work closely with USAA Real Estate Company (“USAA”) business units to manage the critical operations of the USAA Eagle Real Estate Fund (“Fund”). The role will interact with stakeholders across the Accounting, Portfolio Analytics Group, Investor Servicing and Reporting, Global Investor Group, Risk Management, and Asset Management departments of USAA. Thus, the role will be high profile and provide broad exposure to the inner workings of USAA’s flagship open-ended fund vehicle.
Assist Portfolio Management to:
- Manage all aspects of the Fund’s quarterly valuation of its portfolio of properties, working closely with USAA departments to understand the relevant facts and circumstances of each property, and ensuring such information is provided to the valuation consultant (Altus) in a coherent, timely and accurate manner.
- Work closely with development teams to ensure capital draw projections provided by operating partners are materially correct, and that updated development budgets and project completion dates are reflected in the quarterly valuations and communicated to the valuation consultant.
- Work with development accountants to reconcile quarterly capital spend and ensure valuation assumptions are appropriately adjusted to reflect project progress and profit recognition based on milestones achieved. Ultimately, ensure concluded values are shared with accounting to allow for timely closing of the Fund’s general ledger.
- Work with USAA departments to analyze the Fund’s quarterly property valuations and understand impact on performance returns, identifying trends in valuation assumptions across product types and markets.
- Managing the Fund’s external appraisal engagement rotation.
Work with the Portfolio Analytics Group to:
- Remain apprised of key asset-level dates and capital events across the Fund’s portfolio of properties, such as planned acquisitions and dispositions, contractual options, debt maturities, REIT safe-harbor dates, and partnership equity reset dates, as applicable. Proactively educate stakeholders across USAA departments of the same and manage downstream inquiries and implications.
- Review the Fund’s quarterly flash and investor reports to ensure completeness and accuracy, and to facilitate their timely release.
- Manage recurring and ad-hoc Fund materials, such as quarterly pitch decks, investor update decks, bi-annual investor conference decks and marketing brochures. Collaborate with USAA departments to ensure content is complete, accurate and reflects the platform’s brand recognition requirements. Draft quarterly talking points with input from Portfolio Management for investor-facing personnel’s use.
- Process recurring capital transactions (i.e. monthly capital calls and quarterly redemptions). Review the Fund’s capital projections and ensure completeness and accuracy.
- Manage the Fund’s established processes and procedures within the SmartSheet environment. Monitor to ensure gaps, if any, are timely addressed and adequate controls exist. Continually seek for opportunities to improve and create efficiencies across operations.
- Manage the Fund’s compliance initiatives and ensure governing documents and investor side letter requirements are met. Collaborate with legal personnel to maintain master compliance checklists. Review and recommend to Portfolio Manager propriety of quarterly certification to Risk Management and USAA.
- Assist in providing fund and asset-level scenario analyses for ad-hoc (i.e. hold-sell, partner buyout) and investment committee brief purposes. Analyze and review conclusions with portfolio managers.
- Meet with USAA’s accounting team and review the Fund’s monthly income statement. Clarify activity and address any issues noted. Answer ad-hoc inquiries from accounting personnel regarding invoice coding and appropriateness of payments based on venture documents.
- Manage the Fund’s rotation policy and ensure system and sequencing accurately reflects opt-in/out decisions of portfolio managers.
- Support the Fund’s investor relations and analytics team in responding to investor inquiries, including recurring consultant investor update meetings/calls.
- Provide support of quarterly Portfolio Management report processing (e.g. MSCI IPD Dashboard Report and internal operational data files) and of updates to the Fund’s Excel-based fund-level model.
- Support Portfolio Management in managing the Fund’s Line of Credit.
- Manage circulation of transaction documents amongst departments upon closings.
- Assist Portfolio Management with any other Fund-related operational tasks and projects as they arise.
- Additional duties, as assigned.
At USAA Real Estate Company 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! https://usaarealestatecareers.com/careers/benefits/ 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 Company is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.