Vice President, Real Estate Accounting

CIM Group • Los Angeles, CA

77d • $205,000 - $280,000

About The Position

The Vice President of Real Estate Investment Accounting will be responsible for the oversight and management of Investment Accounting for Real Estate investment structures. The Vice President will report to the 1st Vice President of Accounting and will work closely with the Fund Accounting and Portfolio Oversight teams. The role will be responsible for the management of accounting for real estate investment structures and new acquisitions and dispositions and in partnership with Portfolio Oversight help manage capital and cash management and analyze investment returns.

Requirements

• Bachelor's Degree in Accounting or related field.
• CPA or equivalent qualified.
• 15 years of experience in Fund Accounting for Real Estate assets and associated structures and vehicles.
• Technical accounting experience with ASC 970 Real Estate, ASC 360 PP&E, ASC 946 Investment Companies, ASC 820 Fair Value and ASC 842 Lease Accounting.
• Experience managing teams and implementing new processes.
• Knowledge of industry standard performance metrics for closed and open-ended funds including MOIC, TVPI, IRRs and time weighted returns.
• Awareness of NCREIF and GIPS reporting standards.
• Industry experience should be with Alternative Investment Management industry of real estate or REITS.
• Ability to create and lead teams with the capability to inspire and guide a finance team including building new processes and procedures working across multiple stakeholder groups.
• Excellent communication and people skills for collaborating with cross-functional teams.
• A deep understanding of operational processes and the ability to identify opportunities for process improvement and cost reduction.
• Proficiency in analyzing complex financial information, identifying trends, and providing actionable insights to drive decision-making.

Nice To Haves

• Experience working with Yardi Investment Accounting or similar ERP preferred.

Responsibilities

• Overall responsibility for financial reporting for Real Estate investment structures.
• Oversight of the global accounting model for Real Estate investments including policy and processes governing the asset class.
• Accounting for complex transactions on new deals, re-structures and dispositions including involvement in structuring of new investment vehicles.
• Accountable for ensuring appropriate set-up of investment structures in Yardi Investment Accounting system in line with the global booking models.
• Responsible for timely and accurate month end close process across accrual books, consolidation, GAAP adjustments and performance reporting.
• Oversight of accounting for the waterfall, incentive fee calculations and management fees through the investment structure.
• Coordinate with the valuations team regarding the quarterly and annual asset level appraisals and fair value adjustments.
• Oversight of appropriate financial control environment including coordinating with internal audit to ensure SOX compliance.
• Work with Fund Accounting and Portfolio Oversight in answering queries in relation to investment level returns.
• Oversight of investment level performance reporting to our Portfolio Oversight teams and Investors, including driving industry leading reporting across GIPS, ILPA and NCREIF standards.
• Support Portfolio Oversight, Treasury and Fund Accounting teams in cash management of fund structures and 3rd party lender reporting.
• Responsible for investment level operating activities including deal funding, investor funding, all cash activities, line of credit, reconciliations, and regulatory reporting.
• In conjunction with Fund Accounting teams coordinate with independent auditors, fund administrators and accounting staff at JV partners.
• People Management of the Controllers, Managers and Senior Accountants working on the Investment Accounting team
• Development of new processes to support growth in volume and complexity of assets and roll out of new technology and system implementations.
• Collaborate with multiple internal teams including Tax, Valuations, Portfolio Oversight, Investor Client Services, IT and Treasury.

Benefits

• A variety of Medical, dental, and vision benefits plans
• Health Savings Account with a generous employer contribution
• Company paid life & disability insurance
• 401(k) savings plan, with company match
• Comprehensive paid time off, including: vacation days, 10 designated holidays, sick time, and bereavement leave
• Up to 16 hours of volunteer time off
• Up to 16 weeks of Paid Parental Leave
• Ongoing professional development programs
• Wellness program, including monthly and quarterly prizes

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Industry: Real Estate
• Number of Employees: 1,001-5,000 employees