Outsourced Fund Accounting

About Client

Client is a leading investment management firm exclusively focused on alternative real assets. Headquartered in USA and having global presence at multiple locations. Our clients include a global institutional investor base across North America, Europe, Asia-Pacific, the Middle East, and Latin America. We are proud of our culture of collaboration, integrity, and innovation in building long-term value for our partners.

Role Overview

The Outsourced Fund Accounting Associate will be responsible for supporting clients Fund Accounting team in managing the financial reporting, reconciliation, and audit processes for real estate investment funds. This associate will perform key accounting functions, assist in maintaining the integrity of cash movements, facilitate audits, and prepare essential documentation for fund and property-level financial reporting. The role will be integral in ensuring seamless accounting workflows and timely delivery of financial information to internal and external stakeholders.

Responsibilities

The individual will be responsible for carrying out the following tasks:

1. Cash Management & Transfers

• Coordinate and execute wire transfers related to capital calls, distributions, and property-level operations.
• Ensure accurate and timely cash movements between funds, properties, and investors, keeping track of each transactions purpose and impact on the portfolio.
• Maintain daily and monthly cash positions, ensuring that cash movements are properly recorded and reconciled across the portfolio.

2. Fund Reconciliations & Reporting

• Retrieve and organize monthly bank statements from various property and fund accounts.
• Prepare detailed bank reconciliations for each fund and property, ensuring consistency with system records and investigating discrepancies.
• Compile, organize, and archive monthly property-level reporting packages, ensuring all documentation (financials, supporting schedules) is complete and stored accurately.
• Generate and distribute investor reporting packages, including quarterly and annual financial statements, capital account updates, and distributions.

3. Audit Support & PBC Deliverables

• Manage and respond to external audit Prepared by Client (PBC) requests, including organizing financial and property-level documentation, capital calls, distributions, and debt service schedules.
• Draft and manage audit confirmation requests for third-party service providers, investors, and lenders, ensuring timely responses.
• Prepare financial schedules and supporting documentation for annual audits, working closely with auditors to ensure clarity and accuracy.

4. Data & Journal Entry Management

• Prepare and validate batch journal entries for accounting system uploads, including the accurate recording of income, capital expenditures, debt, and distributions.
• Validate and reconcile quarterly and annual fund performance data, including calculating and reporting NOI, capital returns, and distributions for investors.
• Ensure timely updates of property-level data, including lease terms, rent collections, and operating expenses, for accurate fund performance reporting.

5. Capital Call and Draw Packages

• Collect and organize property-level draw packages, including capital expenditure requests, project funding needs, and loan disbursements for developments in progress.
• Prepare and review capital call templates for funds under construction, ensuring all development costs, fees, and funding schedules are accurate.
• Collaborate with project managers to ensure timely and accurate tracking of development progress, including sustainability initiatives for the firm's Impact team.

6. Investor Relations & Distribution Tracking

• Assist in tracking investor capital commitments and distributions, ensuring proper recording and timely updates to investor records.
• Support investor communication by providing relevant financial reports, capital account summaries, and distribution updates for fund investors.
• Assist in preparing investor K-1s, capital statement reports, and other investor-specific financial documentation for tax and reporting purposes.

7. Process Improvement & System Maintenance

• Assist in streamlining accounting processes by identifying opportunities for automation and enhancing existing workflows.
• Maintain accurate documentation and version control for all financial and property reports, ensuring accessibility and compliance with internal and external standards.

Skills & Qualifications

• Bachelor's degree in Accounting or a related field.
• 2-4 years of experience in real estate fund accounting or property accounting, with a strong understanding of the unique processes involved in real estate financial reporting.
• Advanced proficiency in Microsoft Excel (required), with experience in data analysis, financial modeling, and variance analysis.
• Familiarity with fund accounting software such as Yardi, MRI, or RealPage is highly preferred.
• Strong understanding of GAAP principles related to real estate investments and funds.
• Ability to perform financial analysis, prepare reports, and interpret financial data related to properties, funds, and investments.
• Excellent organizational and communication skills, both written and verbal.
• High level of attention to detail, accuracy, and the ability to handle large amounts of financial data.
• Ability to work under tight deadlines while maintaining high-quality output.

Preferred Qualifications

• CPA or CA designation or eligibility.
• Experience working in outsourced fund accounting or within a large real estate investment firm is a plus.
• Familiarity with Yardi fund accounting software is highly preferred.