The Director/Senior Director of Fund Accounting is responsible for managing the general accounting functions relating to a portfolio of real estate funds consisting of consisting of open end and closed end funds, separate accounts, private REITs, joint ventures and similar investment vehicles. Directs and manages the professional and technical support staff responsible for the financial analysis and reporting. Responsible for processing, reviewing, analyzing, and recording property and portfolio related operating data into fair value and historic cost financial statements in accordance with Generally Accepted Accounting Principles. Provides the Company pro-forma analysis on anticipated transactions ensuring it fits within prescribed constraints. Coordinates, prepares and analyzes performance measures and reporting to USAA Senior management and others. The job requires the following characteristics: a solid understanding of accounting for real estate and real estate ventures; ability and desire to lead and develop a team of professional accountants; financial, analytical and problem solving skills; the ability to handle multiple tasks; meet reporting deadlines; and possess strong interpersonal and communication skills to deal with all levels of personnel within and outside the company.
Manages a team of seven professional accountants and as the office leader provides administrative oversight for three additional accounting employees in USAA RealCo's Addison, TX office. Provides guidance, mentoring, coaching and training to direct reports and co-workers. Coordinates accounting responsibility for specific properties and assists with property and portfolio reviews.
Verify, review and analyze property and entity level general ledgers on both cash and accrual basis ensuring accuracy and adherence to established accounting policies and procedures. Responsible for general and advanced accounting functions and for meeting accounting department calendar deadlines.
Prepare and/or review and analyze quarterly/annual financial statements including supporting schedules in accordance with GAAP and/or the fair value basis of accounting.
Prepares and/or reviews performance measures and other financial information for Realco Senior Management, USAA parent company and third party investors.
Responsible for entity accounting for REITs, LPs, LLCs and other entities to include acquisition, entity level budgeting, calculation of distributions and dividends. Assure compliance with entity documents for all entities, and with IRS requirements in the case of REITs.
Record the fair value adjustments for investments in real estate and debt in order to prepare quarterly/annual fair value financial statements.
Interact with other accounting team members, asset managers, portfolio managers and all other areas of the company to ensure prompt resolution of issues and achieve maximum efficiency of operations.
Assists in forecasting of monthly financial results and cash projections based on budgets and known trends. Reviews budget to actual results and advises management of trends.
Performs research on accounting treatments for unique accounting transactions. Keeps abreast of new industry developments, regulatory changes, management requirements, accounting system updates, procedures, etc.
Plans, prioritizes and coordinates tasks to ensure completion of multiple assignments or projects within prescribed timelines.
Performs or coordinates analysis, considers alternatives and makes recommendations on complex real estate transactions. Serves as a consultant to management.
Assists and supports accounting team members. Oversees and reviews work prepared by accounting specialists. Provides guidance on appropriate accounting processes to complete the task at hand.
Assists in the development and implementation of policies and procedures for real estate entities.
Oversees processing of fund level cash receipts and disbursements.
Improves processes related to above duties and responsibilities. Takes a proactive approach on all accounting functions and processes.
At USAA Real Estate Company our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, USAA Membership eligibility, educational and professional designation assistance, business casual dress attire and much more! https://www.usrealco.com/careers/benefits.aspx Qualified applicants must successfully complete a pre-employment background and drug screen. The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.
USAA Real Estate Company is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.
Bachelor's Degree in Accounting or Finance
10+ years of Accounting experience
7+ years of Real estate fund accounting experience required
Previous managerial experience
Qualifications may warrant placement in a different job level.
Regularly required to sit for extended periods of time; frequently required to stand, walk, and use business equipment daily such as computer, copier, fax, telephone, etc.; frequently required to reach overhead, bend, and lift objects of up to 40 lbs.
Ability to handle stress caused by multiple priorities, and other unforeseen situations associated with the organization.
Eyesight and hearing must be correctable to standard level.
USAA Real Estate Company was founded in 1982 as the real estate investment arm of USAA. With approximately $18 billion in assets under management, the company provides co-investment asset management services to U.S. pension funds, as well as to foreign and domestic institutional investors. USAA Real Estate Company also provides capital to partners for development. The portfolio consists of office,... medical office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. Our commitment to service and integrity reflects the core values put in place 94 years ago by our parent company, a trusted worldwide insurance and financial services organization. USAA Real Estate Company is headquartered in San Antonio, Texas.