Senior Accountant - Investment

My client is one of the world’s top real estate investment funds with over $14 billion dollars in assets. The firm invests in operating businesses for which real estate is essential: It owns stakes in Resorts Atlantic City, Accor Casinos, and Costa Smeralda. They are expanding its casino, hotel and entertainment properties holdings worldwide, especially in Europe and Asia.

General Summary:
The Senior Accountant is the primary liaison for the investments, which they are assigned, which includes responsibility for the accounting, monitoring of agreements, monthly closings and reporting. Other responsibilities include for partnerships assigned: accounting, monthly closings, reporting, support of annual audits and internal requests for information.

Essential Duties and Responsibilities:

Investment Accounting

The Senior Investment Accountant should know the following about each assigned investment:

1. The investment’s capitalization, the amount of equity called and amounts borrowed; plus third party equity and debt
2.Equity committed and general partners consents
3.Who are my client’s joint venture partners, if any
4.Ownership percentages
5.The exit strategy for the investment
6.Based on current reporting from the investment what is its value and how does it measure against the exit strategy
7.Fair value of the investment as reported in the financial statements
8.Status of distributions to My client’s limited partners, how much has been distributed, has all preferred return and capital been returned?

Processes that the Senior Investment Accountant is responsible:

1. Processing of funding requests for assigned investments:
a.Obtaining and maintaining copies of GP consents
b.Determining that funding is authorized and within GP consents limits
c.Coordination with the funds Senior Accountant the funds needed
d.Obtaining necessary approvals
e.Verifying joint venture partners are also making their required contributions

2.Maintaining the Investment Accounting binder, and reading of the agreements to determine and monitor:
a.Contribution and distribution provisions
b.Fee and expense sharing arrangements
c.Accounting for due diligence costs
d.Calculation of asset management and capital incentive fees, if any
e.Repayment of intercompanies and distribution of cash
3.Internal Reporting
a.Coding of invoices and approvals of wires
b.Establishment and monthly review of the log for journal entries and processes for monthly closings
c.Review and approval of non-recurring journal entries
d.Analytical review of financial statements for accuracy and completeness
4.Investment Reporting
a.Obtain monthly financial reports for the investment, reviewing and reporting on significant or note worthy items
b.Obtain monthly capitalization information if not included in the monthly financial report
c.Obtain the audited or certified financial statements
d.Special reporting as requested
5.Maintenance of files (electronic preferably) to include:
a.Correspondence
b.Funding requests
c.Proceeds received
d.Financial and other reports

Partnership (Fund) Accounting
1.Read the Partnership Agreement to be able to calculate and monitor:
a.Investment management fees
b.Capital calls
c.Distributions to limited partners
d.Income allocations

2.Establish a notebook for loan documents and related correspondence, read the loan documents to calculate and monitor:
a.Prepare borrowing notices and pay down notices
b.Monitor, recommend and prepare interest rate election notices
c.Approve and process for payment interest and loan commitment fees
d.Maintain computations of the available borrowing base
e.Prepare all loan compliance information

3. Reporting
a. Coding of invoices and approvals of wires
b. Establishment and monthly review of log for journal entries and processes for monthly closings
c. Review and approval of non-recurring journal entries
d. Analytical review of financial statements for accuracy and completeness
e. Review of fund consolidation, including preparing elimination entries
f. Preparation of the internal monthly partnership report
g. Monthly partnership cash flow projection
h. Monitoring of partnership cash balances and reserve accounts

4. Quarterly reporting
a. Preparation of quarterly financial report
b. Investor statements

5. Other
a. Investor requests
b. Assistance with annual audits
REQUIREMENTS
5+ Years prior accounting experince within an investment or Real Estate environment, Bachelor's degree in Accounting or finance a MUST, Strong financial reporting and GAAP