Real Estate Fund Accountant, Associate

New York Life•New York, NY

2d•$76,000 - $106,000•Hybrid

About The Position

New York Life Real Estate Investors (“NYL REI”) is the real estate investment management division of New York Life Investment Management. NYL REI manages a portfolio in excess of $70 billion across real estate debt, real estate equity, and real estate securities. Within the equity portfolio, investments are held across New York Life’s general account, separate accounts, an open-end core fund, closed-end value-add funds, debt funds, and co-investments. We are seeking an Associate Accounting professional to support financial accounting and cash management activities across our real estate investment portfolio. This role offers the opportunity to develop in-depth knowledge of the real estate investment industry while building strong technical accounting and financial management skills. The Associate will be responsible for supporting the financial integrity, cash management, and timely reporting of real estate investments across funds, properties, assets, and joint ventures. Responsibilities will also include debt compliance, GIPs, NCREIF reporting, and investor account financials. The ideal candidate will bring strong analytical and technical skills, attention to detail, and an interest in developing expertise in real estate investment accounting.

Requirements

Undergraduate degree in Accounting, Finance, or a related field.
0–3 years of experience in accounting, fund accounting, public accounting, real estate, private equity, or investment management preferred.
Strong Excel and analytical skills; experience with Yardi or other real estate accounting systems preferred.
Strong attention to detail, ownership mindset, and written and verbal communication skills, with the ability to manage multiple priorities and deadlines.
Ability to evaluate, document, and implement best-in-class policies, procedures, and process improvements.
Ability to work collaboratively across accounting, investment, and operational teams.

Nice To Haves

Experience with fund-level accounting, historical cost/GAAP accounting, statutory accounting, and tax reporting is a plus.
Knowledge of cash management and accounts payable processes preferred.
Experience with corporate accounting, consolidations, and SOX reporting is a plus.

Responsibilities

Ensure accurate and timely financial information is provided to internal management, internal and external auditors, and external clients, as appropriate.
Review and maintain quarterly valuation changes and calculate asset management fees and net asset value (NAV), as applicable.
Perform reconciliations between custodian bank records and accounting records, review pricing and appraisal adjustments, support real estate reporting to clients, and serve as a primary point of contact for assigned audits.
Address and respond to financial requests from Real Estate Officers related to investment performance, fund financial statements, and other portfolio matters.
Review capital call and distribution calculations, sources and uses, allocations, and investor notices.
Maintain and enhance accounting procedures and internal control processes to support accurate and efficient financial reporting.
Support cash management and accounts payable activities, including payment processing, expense coding and classification, and maintenance of accurate cash management records.
Collaborate with the accounting team to ensure the appropriate coding and classification of expenses.
Maintain accurate and up-to-date records in the cash management system, including vendor information, invoice details, and payment status.
Contribute to process improvement initiatives designed to streamline cash management and accounting processes and enhance efficiency, accuracy, and controls.
Stay current on industry best practices, regulatory developments, and changes in accounting standards relevant to real estate investment accounting and cash management.
Perform additional projects and financial analyses as requested by senior management.