The Senior Fund Accountant/Assistant Controller is responsible for general accounting functions for entities investing in various real estate portfolios consisting of funds, separate accounts and joint ventures which invest in office, multi-family, industrial, retail and hotel properties. Responsible for processing, reviewing, analyzing, and recording property and portfolio related operating data into financial statements in accordance with Generally Accepted Accounting Principles (GAAP).
- Review fund and investment entity documents for incentive fee and promote structures. Provide/review necessary inputs (contributions, distributions, dates, leverage, etc.) to assist in the preparation and/or review of incentive fees and promote calculations at the entity level.
- Review fund and underlying documents for terms and provisions, including fees, waterfalls, reporting and audit requirements, distribution requirements, etc. Assist in the evaluation for consolidation. Also review underlying investment documents for similar provisions.
- Ensure that all fund level transactions (including contributions, distributions, debt, fees and other expenses) are recorded in a timely manner.
- Review all fund and underlying entity documents for the terms of the advisory and other fees that may be due. Ensure that they are properly accrued and paid in a timely manner.
- Provide cash flow projections at the fund level incorporating underlying investment cash flows and activity at the fund level in order to project the timing and amounts of contributions and/or distributions. Interfacing with investment accounting will be critical.
- For each reporting entity, the fund accountant will have the overall responsibility of running all the workpapers, tying out and including supporting documentation, preparation of the financial statements and footnotes.
- Includes completion of quarterly REIT qualification questionnaire, review of the REIT tests and preparation of REIT taxable income estimates for each REIT to ensure proper distributions are made, if applicable.
- Prepare investors' and/or their consultants' reports, questionnaires, confirmations, etc. as needed. Assist with reporting fund level IRR's and Time Weighted Returns (TWR's), as needed.
- Primary responsibility for oversight and communication with auditors for each entity audit.
- Prepare the fund and underlying investment entity level budgets.
- Perform and/or review cash projections for entities to ensure excess cash distributions are made in a timely fashion in accordance with the investment agreements. Incorporate cash projections from investment accounting into the entity level projections to support capital call and distribution calculations. Process contribution/distribution payments.
- Review fund and underlying loan documents for reporting and audit requirements, coverage tests and other compliance provisions. Prepare each monthly and quarterly test in conjunction with capital markets and asset management.
- Assist and/or prepare the fair value adjustments and JE's needed at the entity level to adjust historical cost books to fair value, as necessary. This includes coordinating with the investment accountants to determine which accountants will prepare each entry needed.
- Ensure that investment in and capital balances at the fund and underlying levels are properly recorded and eliminated in consolidation.
- Assists with special projects and other related duties as assigned.
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.