Manager, Daily Valuation & NAV Accounting

Altus Group • Chicago, IL

7d • $125,000 - $150,000

About The Position

Altus Group’s US Valuation Advisory team is currently looking for a lead for our daily valuation, NAV accounting, and analytics practice. The lead is responsible for managing our daily valuation practice. Our clients produce quarterly market-value financial statements using property valuations produced by Altus Group and other third-party appraisers. The growth of 401(k) and similar pension plans has created a need for daily share prices. This is not debit and credit accounting, but a much more interesting role. Large stabilized real estate portfolios produce consistent net investment income due to long-term leases and long-term, fixed-rate debt. Our services included: projecting the income for the upcoming quarter and estimate real estate appreciation (or depreciation) based on draft, revised, and final valuations during the quarterly appraisal process; calculating a daily share price based on these estimates, and true-up after quarter-end; and working with our clients to identify material events such as new leases or bankruptcies, coordinate the value change with the appraisers and revise the share price.

Requirements

• A university or college degree in accounting from an accredited institution.
• Relevant accounting and valuation experience in commercial real estate.
• Strong analytical and problem-solving skills.
• The ability to interpret complex financial data and make recommendations.
• Strong Excel proficiency: financial modeling, budgeting, and variance analysis, ideally in commercial real estate.
• Proficiency in Yardi, MRI, JD Edwards or similar accounting system.
• Self-starter and a team player, and the ability to communicate with colleagues and clients with various backgrounds.
• Supervisory experience.
• Strong project management skills: managing deadlines, creating plans and evaluating results, communicating at-risk tasks.
• Experience with client deliverable life cycle and proven record of successful management of client deliverables.

Nice To Haves

• CPA and/or MAI credentials a plus.

Responsibilities

• Review each client’s quarterly financial statements and oversee the import of this data into our accounting system and supplemental Excel templates.
• Project each component of net investment income for the upcoming quarter. For example, using historical property net operating income and the appraiser’s income projections to estimate net operating income for the quarter. Interest expense is projected using each client’s’ debt schedule.
• Coordinate with the appraisers, daily value committee, and other market participants to determine the initial appreciation projection.
• Oversee the collection of draft, revised and final appraised values to adjust the projection as the quarter progresses.
• Coordinate with the client and the appraisers to re-value properties for material events such as new leases, bankruptcies, and market events, etc.
• Project the net asset value change and share price for the quarter and update as new data becomes available.
• Review variances with our daily valuation committee and with each client when the actual share price is published.
• Interpret client requests and communicate/delegate requests to the team.
• Manage multiple projects/engagements to ensure delivery on time and on budget.
• Review all work by staff before sending to clients or third-parties
• Coach and mentor staff.
• Deliver the highest quality of service and technical excellence.

Benefits

• Rewarding performance: competitive compensation, incentive and bonus plans, and a total rewards package prioritizing mental, physical, and financial well-being.
• Growth and development: we invest in your professional learning. Our Altus Intelligence Academy offers over 150,000 hours of learning content.
• Flexible work model: our Activity-Based Work model provides flexibility to align your work location to the needs of the work — use the office for collaboration and remote work for focused tasks.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 1,001-5,000 employees