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ASB Real Estate Investments · 19 hours ago

VP & Fund Controller

Bethesda, MD

Full-time

Onsite

Director/Executive

$172K/yr - $220K/yr

10+ years exp

ASB Real Estate Investments is a leading U.S. real estate investment management firm, and they are seeking a VP & Fund Controller to oversee and manage the financial policies and reporting systems for their real estate investment funds. The role includes guiding financial decisions, ensuring compliance with regulations, and managing the accounting department's operations.

Real Estate

Hiring Manager

Daniel Poray

Responsibilities

Guide financial decisions by establishing, monitoring, and enforcing policies, procedures, and internal controls

Review joint venture agreements, loan agreements, and other financial documents during and after their negotiation and execution to ensure that such agreements are accounted for appropriately

Make recommendations of changes to in-process transaction agreements to ensure harmony between and among accounting requirements and business objectives

Monitor and confirm financial condition by conducting audits of information provided by joint venture partners and third-party service providers

Coordinate annual independent audits of the real estate funds

Manage the treasury function and liquidity of each fund including maximizing returns on short term investments, limiting risk, and updating cash flow forecasts to properly manage liquidity

Provide status of financial conditions by collecting, interpreting, and reporting financial data

Ensure compliance with federal, state, and local legal, accounting, and reporting requirements by studying existing and new legislation; existing and new accounting guidance, enforcing adherence to requirements; filing financial reports; advising management on needed actions

Maintain professional and technical knowledge by attending educational workshops, reviewing professional publications, establishing personal network, and participating in professional societies

Protect operations by keeping financial information and plans confidential

Oversee third-party tax consultants to ensure timely filing of all tax forms and returns for all fund entities and subsidiaries

Maintain a documented system of accounting policies, procedures, and controls

Oversee the accounting operations of subsidiary properties and joint ventures, especially their control systems, transaction-processing operations, and policies and procedures

Oversee all employees and operations of the accounting department to achieve the department's goals and objectives to the highest degree

Manage outsourced functions

Ensure that accounts payable are paid in a timely manner

Ensure that all reasonable discounts are taken on accounts payable

Ensure that accounts receivable are collected promptly

Ensure that periodic bank reconciliations are completed

Ensure that required debt payments are made on a timely basis

Maintain the chart of accounts

Maintain an orderly accounting filing system

Maintain a system of controls over accounting transactions

Issue timely and complete financial statements

Coordinate the preparation of quarterly and annual reports

Recommend benchmarks against which to measure the performance of company operations

Calculate and issue financial and operating metrics

Manage the production of the annual budget and forecasts

Calculate variances from the budget and report significant issues to management

Provide financial analyses as needed, in particular for overseeing the management of the property portfolios and reporting performance to investors

Coordinate the provision of information to external and internal auditors for the annual audits

Monitor debt levels

Comply with local, state, and federal government reporting requirements and tax filings

Manage and monitor required compliance with loan covenants for both corporate balance sheet debt and property level debt

Provide financial reports to banks as required by loan documents

Monitor property and other income to ensure income qualifies for REIT purposes and that non-qualifying REIT income is only generated by assets that are held within TRS entities

Monitor taxable income and schedule dividends sufficient to comply with REIT tax rules

Monitor other accounting rules required under IRS REIT guidelines including asset sale limitations, permissible income requirements, property services income, etc

Qualification

Real estate accountingFund level reportingCPAAnalytical abilityExcel skillsEthical integrityLeadership skillsCommunication skillsTeam collaborationProblem-solving

Required

Superior analytical ability

Strong Excel skills

Strong knowledge of real estate accounting, fund level reporting and investing

Able to persevere through difficult challenges and setbacks

Thrives in a small, cohesive and hands-on work environment

Excellent listening skills. Open minded to different ideas and perspectives

Highly transparent and ethical, placing a high value on both personal and firm integrity

High energy; structured and action oriented

Highly collaborative and committed to being a part of an integrated team

Intellectually curious, creative, and a broad-based thinker

Excellent communication skills, including written and verbal and the ability to structure and disseminate complex information in a range of appropriate styles/formats

Proven leadership and general management skills, willing to take responsibility and be accountable for results

Bachelor's Degree in Accounting

CPA required

Excellent academic credentials

10 plus years of progressively responsible experience for a national auditor and/or a major real estate or financial services company is desired

Demonstrated career history of continued growth and success in roles of increased complexity and responsibility

Proven success in setting and achieving corporate objectives, with the demonstrated work ethic, competitiveness and tenacity required to achieve top performance