AVP - Fund Management

Berkadia•Chicago, IL

22h•Remote

About The Position

The AVP - Fund Management (“AVP, FM”) is responsible for the financial modeling, analytics and due diligence process in closing MultiFunds, Club Funds and Proprietary Fund transactions, as well as the post-close management and reporting duties through stabilization of the underlying properties. We Innovate to shape the future of CRE, so in this role you will: Manage quarterly Fund financial statements and assist with the preparation and review of monthly Corporate financial statements, maintaining related workbooks and schedules. Manage cash and GAAP journal entries, including accruals, and process wires, ACHs, and check runs. Coordinate and manage Fund audits, tax returns, and K-1 preparations, while supporting Corporate audit and tax return processes as needed. Create and maintain financial models, assist with financial planning and analysis, and collaborate with internal teams on accounting and tax-related matters. Review Fund and Partnership operating agreements, record transactions, and monitor capital contributions received from investors and paid to Partnerships, ensuring all capital accounts are up to date. Manage investor due diligence workflow and Upper Tier closings. Prepare qualitative risk assessment and quantitative valuation for internal discussion. Together with VP, FM: Maintain and update master templates for Lower Tier / Upper Tier modeling. Support Acquisitions and Underwriting by providing tax expertise, model training and transaction-specific modifications to Lower Tier models. Train and review the work of junior staff, providing guidance and oversight. Manage investor capital to be called, based on Fund cash balances and updated project-level equity schedules. Analyze investor tax-basis and 704(b) basis capital account projections through the LIHTC compliance period, identifying potential risks to investor IRR and providing recommendations. Perform quarterly and annual updates to pre-stabilized Fund models based on actual tax returns, and review tax returns for pre-stabilized Funds, analyzing material variances and updating investor benefit schedules. Manage quarterly reporting obligations and conduct annual analyses of Fund reserves and sustainability. Calculate annual Fund cash waterfalls, process upper-tier asset management fees and overhead reimbursements, and model complex transactions, including multi/club structures, bridge lending, and special allocations. Coordinate Lower Tier tax return preparation memos and ensure adherence, while planning, hosting, and recording Lower Tier model training sessions. Annual review and revision of Upper Tier Policies and Procedures Provide weekly updates to VP, FM

Requirements

Experience in fund/partnership accounting and tax preparation, with LIHTC experience highly desirable
Strong quantitative and analytical skills, with proficiency in financial modeling and Microsoft Office applications.
High attention to detail and accuracy, with the ability to manage complex financial data effectively.
Excellent communication skills, both written and verbal, to convey information clearly and professionally.
5+ years of experience in a similar position.

Nice To Haves

CPA designation preferred.
Master's degree preferred.

Responsibilities

Manage quarterly Fund financial statements and assist with the preparation and review of monthly Corporate financial statements, maintaining related workbooks and schedules.
Manage cash and GAAP journal entries, including accruals, and process wires, ACHs, and check runs.
Coordinate and manage Fund audits, tax returns, and K-1 preparations, while supporting Corporate audit and tax return processes as needed.
Create and maintain financial models, assist with financial planning and analysis, and collaborate with internal teams on accounting and tax-related matters.
Review Fund and Partnership operating agreements, record transactions, and monitor capital contributions received from investors and paid to Partnerships, ensuring all capital accounts are up to date.
Manage investor due diligence workflow and Upper Tier closings.
Prepare qualitative risk assessment and quantitative valuation for internal discussion.
Maintain and update master templates for Lower Tier / Upper Tier modeling.
Support Acquisitions and Underwriting by providing tax expertise, model training and transaction-specific modifications to Lower Tier models.
Train and review the work of junior staff, providing guidance and oversight.
Manage investor capital to be called, based on Fund cash balances and updated project-level equity schedules.
Analyze investor tax-basis and 704(b) basis capital account projections through the LIHTC compliance period, identifying potential risks to investor IRR and providing recommendations.
Perform quarterly and annual updates to pre-stabilized Fund models based on actual tax returns, and review tax returns for pre-stabilized Funds, analyzing material variances and updating investor benefit schedules.
Manage quarterly reporting obligations and conduct annual analyses of Fund reserves and sustainability.
Calculate annual Fund cash waterfalls, process upper-tier asset management fees and overhead reimbursements, and model complex transactions, including multi/club structures, bridge lending, and special allocations.
Coordinate Lower Tier tax return preparation memos and ensure adherence, while planning, hosting, and recording Lower Tier model training sessions.
Annual review and revision of Upper Tier Policies and Procedures
Provide weekly updates to VP, FM