AVP, Accounting (Real Estate)

Revantage, A Blackstone Portfolio Company•Chicago, IL

80d•Hybrid

About The Position

Revantage, a Blackstone Real Estate portfolio company, is a global provider of corporate services. With a corporate purpose of ‘In Pursuit of Better,’ Revantage delivers value-added services and world-class talent for Blackstone Real Estate portfolio companies, spanning diverse asset classes, including residential, logistics, office, hospitality and retail sectors. Headquartered in Chicago, the company’s footprint extends across North America, Europe and Asia Pacific. Rooted in a commitment to collaboration and inclusivity, Revantage goes beyond traditional corporate services and acts as a trusted partner. Across offerings that include finance, technology, human resources and operations, Revantage proactively anticipates stakeholder needs, recruits exceptional talent and enables its business partners to thrive. The AVP, Accounting role oversees all activities related to supervising and managing the Single Family Residential and Storage investments owned by Blackstone and held within the BREIT and BREP Funds. The role is responsible for overseeing those responsible for preparing, analyzing and reporting on the financial and operating results of the Single Family Residential and Storage investments at the asset level, investment level and a consolidated level. A successful Manager of Accounting is knowledgeable about real estate principles (GAAP, SEC) and has a strong business acumen and the ability to multitask inter and external requests.

Requirements

Bachelor’s Degree with a major in Finance, Accounting or closely related field
Minimum 6 years of experience in- financial analysis, financial reporting, and general accounting
Minimum 3 year people management experience
Extensive experience with accounting ERP systems and other accounting software
Requires understanding of financial models, corporate financials and regulatory market.
Drive and desire to learn new technologies and grow technical and functional skill sets
Passion for making business processes more efficient and successful
Must have knowledge of US GAAP
Strong working knowledge of MS Office, accounting software and databases
Excellent communication, problem solving and interpersonal skills necessary
Ability to multi-task and manage shifting priorities in a fast-paced environment
Strong attention to detail and ability to work both independently and in a team environment

Nice To Haves

Real estate accounting knowledge a plus
Minimum 3 years people management experience
CPA

Responsibilities

Manages and oversees the daily operations of Single Family Residential and Storage Investment Reporting including overseeing and reviewing the month-end, quarter-end and year-end close processes such as account reconciliations, prior period adjustments and monthly journal entries, bank reconciliations, etc. to ensure accuracy and completeness
Provide guidance, support and direct supervision to the following positions: Senior Accountants, Accountants, Associates and Interns
Reviews and analyzes accounting data and produces financial reports or statements such as P&L’s, Balance Sheets and forecasts at the individual asset level and the consolidated portfolio level for the Student Housing and Storage assets. Provides variance reporting to assess property performance month to month.
Leads onboarding and wind down efforts of acquisitions, dispositions and change of operators
Instrumental in the preparation of certain due diligence reports, such as the review of trailing twelve month financials
Reviews projects assigned to staff to ensure compliance (lender or other), reporting accuracy and timeliness.
Ensures all property invoices paid at the corporate level are processed and paid timely
Ensures adherence to proper accounting methods, policies and principles
Provides recommendations to improve systems and procedures and initiate corrective actions. Ensures direct reports are handling processes in a like and efficient manner.
Constructs reliable cash models to project an asset’s future performance
Establishes and maintains fiscal files and records to document transactions
Assists in the preparation and review of annual audited financial statements
Assists with developing and documenting business processes and accounting policies to maintain and strengthen internal controls
Interacts with internal staff, related company (such as Insurance, Tax and Treasury) and external service providers to complete assigned responsibilities
Incorporates anticipated demand, driven by company initiatives and business conditions to ensure required capacity and skills will be available in the future
Assesses and reacts to changing business conditions, in terms of their impact to the organization they lead. Ensures team’s processes and procedures support the department’s goals according to guidelines and policies
Partners with senior managers to identify and drive external relationships with the team’s key contacts and stakeholders including third party accounting departments and third-party operators accounting teams.