Senior Associate, Fund Accounting

Core Spaces•Chicago, IL

2d•$90,000 - $105,000

About The Position

The Senior Associate, Fund Accountant plays a critical role in supporting Core Spaces’ development and operating funds, including co-investments, open‑end and closed‑end funds, and separately managed accounts. This position is responsible for the preparation and review of monthly, quarterly, and annual fund‑level financial statements in accordance with Fair Value GAAP principles, including NAV calculations, investor allocations, waterfall modeling, variance analysis, performance reporting and REIT compliance. A key component of this role is providing oversight of the fund administrator, including reviewing their deliverables for accuracy, completeness, and adherence to Operating Agreements and accounting policies. The Senior Associate also supports annual audit processes and serves as a primary liaison with the fund administrator, auditors, and internal stakeholders. The role offers significant exposure to acquisitions, investments, capital markets, and fund management teams, contributing directly to accurate reporting, operational efficiency, and investor transparency.

Requirements

Bachelor’s degree in accounting or finance required
Proficiency in MS Outlook, Excel, Word
Excellent interpersonal and organizational skills
Ability to multitask and manage shifting priorities in a fast-paced environment
Attention to detail and high level of accuracy

Nice To Haves

2-4 years’ experience in fund administration or public accounting preferred
Experience within real estate or construction accounting preferred
Background in accounting for various types of entities including private equity funds and REIT’s a plus
Yardi or similar platforms
Advanced Excel skills, including XLOOKUP, Index/match, and performance metric calculations (IRR, TWR MOIC, multiples).
Public accounting or fund administration
Investor allocations
Fair Value accounting

Responsibilities

Perform monthly, quarterly, and annual close processes, including journal entries, reconciliations, and preparation of audit-ready support for all transactions.
Prepare investor capital call and distribution allocations and related correspondence.
Prepare or review financial statements and reporting packages, including variance analysis, roll- forwards, and lender/investor reporting, ensuring compliance with Operating Agreements.
Provide oversight of the fund administrator, including reviewing NAV packages, capital activity, financial statements, and supporting schedules for accuracy and consistency.
Collaborate with property and development accounting teams to confirm equity balances throughout the investment structure and validate timing of construction draws and operating cash flow distributions.
Assist with preparation and distribution of quarterly and annual reporting packages for lenders, investors, and internal stakeholders.
Monitor cash needs through cross-functional communication and forecasting based on upcoming transactions.
Participate in land and asset acquisition processes, working closely with acquisitions, capital markets, and fund management teams.
Review and ensure compliance with accounting policies and procedures, resolving accounting-related issues as they arise.
Respond to and manage audit and investor inquiries related to quarterly and annual reporting.
Serve as a direct liaison with the fund administrator, supporting quarterly reporting issuance and capital call/distribution processes.
Reconcile individual investor capital balances and respond to investor inquiries.
Calculate and analyze performance metrics, including IRRs, MOIC, equity multiples, and other fund‑ and asset-level performance indicators.
Identify and implement opportunities for continuous improvement in processes and procedures.
Occasional travel may be necessary
Perform all other duties and tasks as assigned by management
Must be able to complete all physical requirements of this role with or without a reasonable accommodation

Benefits

A culture that provides you with a sense of belonging
Competitive pay that values your contributions
Incentives designed to reward your achievements
Paid flexible PTO to disconnect or celebrate life milestones
Paid 14+ holidays, including your birthday, to disconnect and celebrate
Paid Parental Leave that begins after 90 days
Paid volunteer time off to give back to your community
Monthly workshop weeks; fewer meetings & more collaboration
Robust health plan options that begin within at least 30 days of your employment
Monthly phone reimbursement
Wellness allowance and perks, including a yearly subscription to a meditation app
An environment that provides you a voice to share your perspectives
Employee Assistance Program (EAP) for access to confidential support services
Company retirement options including 401(k) + matching & Roth account option