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The Assistant Corporate Controller is primarily responsible for (1) the underlying accounting records of the entities responsible for on a GAAP, cash, tax and fair market value basis of accounting; (2) the consolidation and financial reporting of entities responsible for; (3) set up and maintenance of entities responsible for within the accounting system; and (4) cash flow forecast of assigned entities and (3) participation on the CTI Roll-Up Committee.
Essential Duties & Responsibilities include the following. Other duties may be assigned.
* Ensure technically accurate, complete and timely financial reporting for multiple entities and/or business units including financial statements (which may be on the cash basis, GAAP historical cost basis, and/or GAAP FMV basis), loan compliance and special reporting as required.
* Prepare or review consolidated and consolidating financial statements in accordance with historical cost and fair market value accounting principles, as applicable.
* Monitor the consolidation for assigned entity, by running consolidated financial statement in the CTI system and ensuring all elimination and allocation entries are working properly.
* Thoroughly review entity level financial statements and related supporting documents to ensure that the financial statements are correct and in conformity with GAAP.
* Participate as an active member of the Roll-up Committee and ensure that as transactions occur the roll-up is adjusted properly.
* Thoroughly review rollup to ensure that all general ledger activity consolidates properly. Prepare or review timely and accurate forecasts.
* Prepare or review timely and accurate general ledger account reconciliations and related schedules. Prepare accurate and timely audit packages and financial statements in compliance with GAAP accrual.
* Identify and research accounting issues resulting in written recommendation to Corporate Controller. Implement conclusion including communication to external auditors.
* Provide review to ensure 5-year cash flow projections are maintained in Control system for assigned entities including corporate operating and investment cash flows, financing and investing activities
* Provide review of the budgetary process, including annual budget preparation, monthly forecast, and variance for all assigned entities in the Control system, ensuring all tasks are completed in an accurate, complete and timely manner through the appropriate review.
* Understand and apply current technical accounting standards to ensure compliance. Maintain regular contact and build solid working relationships with other business units to ensure a high level of customer service as measured by manager observation and feedback from principal customers. Coordinate activities with other business units to ensure a high level of service and work products.
* May serve on one or more cross-functional committees providing guidance and appropriate department representation.
* Coordinate with outside CPA firms as directed by the Corporate Controller to ensure thorough and accurate audits. Effectively control delivery and quality of information to outside auditors to prevent additional audit billings by ensuring the information provided is timely and accurate.
* Assist with the accounting for acquisitions, dispositions and major transactions as requested by the Corporate Controller to ensure technically correct accounting.
* Assume “ownership” of the accounting process.
o Analyze new or changing circumstances at the earliest opportunity to identify accounting impact. Appropriately communicate the impact in a timely manner, make recommendations, and follow through to be certain that identified issues are brought to closure on a timely basis.
o Promptly implement action plans to address any identified customer service issues.
o Reach out to peers to identify solutions to issues.
o Bring issues and concerns to manager’s attention on a timely basis.
* Read and understand the governing documents for assigned entities, including but not limited to, operating agreements, management agreements, loan documents, and purchase and sale agreements.
* Ensure that accounting activities comply with all applicable laws and regulations, corporate policies and guidelines, accepted accounting standards and the governing agreements.
* Actively participate in any departmental training and education programs. Seek out opportunities to contribute to the success of the program by identifying areas where training is needed and assisting in developing appropriate training programs.
* Thoroughly research accounting issues to ensure transactions are recorded in conformity with GAAP.
* Promptly respond to requests for information from other departments within the company and follow through to ensure resolution.
* Participate in or lead special projects as opportunities arise. Take ownership of project or assigned deliverables and follow through to completion within established timeframes.
* Demonstrate an understanding of system capabilities and limitations and proficiency in its use.
* Serve as a resource for other department members in areas of his or her expertise.
* Provide excellent customer service to both external and internal customers by:
o Building positive relationships with customers
o Taking initiative to identify customer needs and provide service that meets or exceeds customer expectations
o Communicating effectively in person as well as via telephone and email.
o Resolving difficult situations through the use of effective problem-solving skills
The Assistant Corporate Controller may be assigned responsibility for a variety of accounting tasks in order to accomplish departmental objectives. Examples include, but are not limited to the following:
* May perform the duties of a Corporate Accountant or Corporate Controller in his or her absence.
* May review and approve bank reconciliations.
* May review cash and accrual trial balances to ensure that all transactions are properly recorded on both sets of books and that all activity is properly classified.
* May approve wire/ACH transfer requests within authorization limits as needed.
* May review cash balances and projections with Controller-demonstrate there is adequate working capital for the company's needs.
* May review entire check run for assigned entities and function as initial signer for checks greater than $50,000
* May review staff prepared journal entries and ensure proper recording of all transactions.
* May approve the capitalization of asset purchases on accrual books that meet capitalization thresholds.
* May review all revenue or cost allocations prepared by staff
* May approve monthly mortgage and debt payments
* May assist staff in preparing assigned project forecast and variance reports within established timelines. Ensure 5 -year forecast is accurate for assigned projects.
* May prepare or review summary forecast for assigned entities.
* May review and approve reconciliations of cash balance sheet and income statement accounts.
* May prepare/review periodic capital calls and monthly distributions if applicable.
* May review in detail any required reporting to investors, such as employees in the co-investment plan.
* May review financial statements and cash flow forecast for assigned entities
* May review quarterly FAS updates for all books and tax balances and review and approve reconciliation to general ledger (May be performed by Corporate Accounting Manager)
* May review quarterly sales and use tax returns, ensure process is appropriate to capture required information and all required filings are occurring
* May review and approve interest calculations on all quarterly related party notes payable and notes receivable.
* May review and approve billing for any quarterly revenue items such as Fund Sponsor Fees etc.
* May review and approve reconciliations of accrual balance sheet and income statement accounts.
* May review individual project quarterly accrual based statements as assigned.
* May review individual project quarterly FMV based statements as assigned.
* May prepare consolidated accrual basis financial statements for assigned entity
* May review and approve billing for any annual revenue items such as Corporate Secretary Fees etc.
* If applicable for assigned projects, review personal property tax returns in April
* May review standalone audit package for assigned entities within established timeframes
* May support staff in the initial draft of annual budget for assigned entities, review with supervisor or department head as applicable, process requested changes
* May prepare the consolidated budget for assigned entity.
* May review the tax work paper packages to be delivered to D&T
* May prepare the consolidated financial statements for assigned entity, including footnotes, and respond to questions from external auditors.
* Review capital transactions, distributions, and accounting treatments.
* Accounting research or other projects as assigned
Essential Skills & Qualifications:
* Thorough knowledge of issues, procedures and practices associated with commercial real estate and/or partnership accounting as evidenced by 2+ years of experience in a related function.
* Demonstrated ability to accurately and completely apply consolidation accounting, including application of FASB 144 and 141, FIN 45, and FIN 46(R) with minimal supervision.
* Demonstrates sound and accurate judgment.
* Strong oral and written communication skills. Demonstrated ability to read, to analyze, and interpret complex documents.
* Demonstrated ability to find, access, evaluate and use information.
* Demonstrated ability to manage multiple projects and priorities to conclusion.
* Demonstrated ability to effectively resolve problems that balance multiple needs and interests
* Demonstrated ability to solve practical problems and deal with a variety of variables in situations where only limited standardization exists.
* Demonstrated ability to respond to changing and sometimes ambiguous situations.
* Intermediate to advanced proficiency in Microsoft Word, Excel, and complex accounting software programs.
* Demonstrated ability to complete objectives and projects with broad managerial direction. Work is generally reviewed at the time of completion.
* Bachelor’s degree (B.A. or B.S.) in Accounting from a four-year college or university. Masters in Business Administration (M.B.A.) or Masters in Accounting or Finance preferred. Minimum 5-7 years experience in accounting including experience with a national accounting firm and/or real estate industry experience.
* Minimum 2 years experience with performing or reviewing consolidation of multiple legal entities.
* Flow through entity tax experience desirable.
Certificates, Licenses, Registrations:
* Certified Public Accountant (C.P.A.) designation or its equivalent preferred.
* Please submit resume in Word format and qualified candidates will be contacted immediately.