Fund Accounting Manager

$110,000 - $130,000/Yr

Realterm - Annapolis, MD

Full-time - Mid Level

Annapolis, MD

About the position

The Fund Accounting Manager at Realterm is a pivotal role responsible for overseeing the day-to-day accounting operations and ensuring the quality of deliverables for the company's closed-end and open-end funds. This position demands a proactive and experienced accounting leader who is hands-on and fosters a sense of ownership, adaptability, and accountability within the team. The individual will be tasked with maintaining the integrity and timeliness of the fund's financial close and financial and investor reporting, adhering to GAAP, company policies, and contractual agreements. In this role, the Fund Accounting Manager will be the key contact for investor requests, maintaining investor documents and fund financial knowledge. The position requires the ability to read, interpret, and summarize complex legal documents, including partnership documents and lender agreements. The manager will support the Fund/Asset Management team in ensuring compliance with partnership agreements and understanding key deal terms that influence reporting. Additionally, the role involves preparing fund carried interest calculations, managing fund-level cash flow needs, and overseeing monthly close activities for all non-property entities within the fund structures. The Fund Accounting Manager will also be responsible for validating the accuracy of asset management and incentive fees, foreign exchange entries, and ensuring the optimization of shareholder loans. This position requires a thorough understanding of real estate valuations and deal transactions, as well as the ability to document policies and procedures related to fund accounting functions and internal controls. The manager will oversee the completion of quarterly and annual compliance reporting, draft financial statements for the funds, and ensure the accuracy of NAV and unit share price calculations. Furthermore, the role includes preparing annual budgets and reforecasts for all non-property entities and proactively communicating significant issues to the Controller.

Responsibilities

• Maintain investor documents and fund financial knowledge and serve as the lead contact for investor requests.
• Read, interpret, and summarize complex legal documents, including partnership documents and lender agreements.
• Support Fund/Asset Management team in ensuring fund reporting compliance with partnership agreements.
• Analyze and prepare variance analysis to support Fund/Asset Management in understanding consolidated financial results.
• Review and ensure accuracy of all investor notices regarding capital calls/distributions, including ILPA templates.
• Maintain investor capital accounts and prepare fund carried interest calculations.
• Manage fund-level cash flow needs, including cash available for distribution to investors.
• Assist Fund/Asset Management team with Advisory/AGM/AIP schedules and materials as needed.
• Respond to all investor ad hoc requests in a timely manner.
• Oversee monthly close activities for all non-property entities within the Fund structures and ensure accuracy and timeliness of completion of consolidated results.
• Validate accuracy of asset management and incentive fees, as well as foreign exchange entries.
• Ensure optimization of shareholder loan and preparation of consolidated balance sheet review packages.
• Understand real estate valuations recorded quarterly and reason for valuation adjustments.
• Document policies and procedures related to fund accounting function and associated internal controls.
• Ensure financial information is maintained in accordance with GAAP and company policies.
• Oversee completion of quarterly and annual compliance reporting and drafting of financial statements for the fund(s).
• Ensure accuracy of NAV and unit share price calculations and fund-level debt compliance.
• Oversee completion of recurring supplemental fund reporting and ad-hoc information requests.
• Prepare PBC workpapers for interim and annual audit and tax compliance.
• Oversee preparation of annual budgets/reforecasts for all non-property entities.
• Proactively communicate significant issues to the Controller and assist in communicating with business partners.
• Assist in developing more efficient and effective ways to organize, deliver, or consolidate work products.

Requirements

• Bachelor's degree in Accounting or related field.
• MBA and/or CPA preferred.
• 4-7 years of private equity fund accounting experience, including working with institutional investors; real estate experience preferred; public accounting experience a plus.
• Well-versed in the application of US GAAP and investment accounting knowledge.
• Deadline-focused, organized, and possesses problem-solving skills.
• Well-developed analytical skills and effective communication skills (both oral and written).
• Ability to work effectively as a team member and leader, motivating and developing staff.

Nice-to-haves

• Experience in real estate accounting is preferred.
• Familiarity with financial reporting software and tools.

Benefits

• Competitive salary ranging from $110,000 to $130,000.
• Robust benefits package including health insurance, retirement plans, and paid time off.