Senior Fund Accountant/Senior Associate

1 week ago

Hyderabad, India SS&C Technologies Holdings Full time
Job Description

The Senior Associate Fund Accounting is responsible for the financial accounting and reporting of the operations of real estate properties acquired and/or developed through the company’s various investment/fund vehicles.  This primarily involves review/validation of property GL’s maintained by third parties. These may include office, multi-family, industrial, retail, hotel and mixed-use properties.   This position works closely with the members of the Fund Accounting team that are responsible for the accounting and reporting of the investment entities and fund vehicles that own interests in the real estate properties on which the Investment Accounting team is reporting.  

ESSENTIAL DUTIES   

  • Review lease related agreements and ensure that lease related activity adheres to policies and procedures; this includes:  TI allowances, lease incentives, bargain renewal and termination options, rent escalations, straight-line rent, CAM rule set-ups, CAM true-ups and reconciliations, and assessing the impact of differing move-in and commencement dates.  

  • Ensure the property level activity is recorded, reviewed and approved in a timely manner to meet monthly and quarterly reporting deadlines. 

  • Record and review acquisition and disposition property transactions as needed including: proration calculations, A/R aging review, and gain/loss projections.  

  • Review purchase and sale agreements for accounting impact and ensure the proper recording of the acquisition and disposition entries.  Provide all necessary documentation to the team preparing the purchase price allocations (PPAs). Assist the Investment Accounting Manager in the review of such PPAs for accuracy and book adjustments as needed to the original acquisition entry.   

  • Work with capital markets to record new debt, refinancings or payoffs, and provide financial information as requested.  Calculate and/or review debt covenant tests for property level debt.  Ensure required reporting to lenders is done in a timely manner. 

  • Review, oversee and field questions from third party accountants responsible for accounting on investment properties.  

  • Assist property management with questions related to Yardi accounting processes and USAA Real Estate's accounting policies and procedures.  Provide guidance, coaching and training to third parties, including participating in the “on-boarding” process of new USAA Real Estate third party relationships.  This includes assisting in the setup of properties, leases/tenants, vendors/payables, property level bank accounts and other property level needs.    

  • Ensure the timely reconciliation of WIP accounts and that assets are placed in service as appropriate.  This includes reviewing the capitalization policy for proper treatment and assisting in determining the correct in-service dates and useful lives. 

  • Calculate the property management and construction fee calculations for compliance with property management agreements.  Ensure that they are timely processed. 

  • Act as a point of contact for Asset Management for all accounting related matters on assigned investment properties.  Work with the asset management and the fund accounting teams to provide operating cash flow projections to assist in forecasting investment entity/fund capital calls and distributions. 

  • Assist the tax personnel with preparation of schedules by providing underlying support and/or performing reviews as needed in connection with the timely preparation of federal and state tax returns including franchise taxes, personal property taxes, and other business taxes.  

  • Assist the fund accounting team with the preparation of quarterly/annual financial statements including providing details of transactions, underlying investment schedules, minimum rent disclosures, and other documentation and calculations needed for disclosures in accordance with GAAP.   

  • Act as a point of contact for auditors for all accounting related matters on assigned investment properties 

  • Demonstrate leadership skills by volunteering for special projects in the department. 

  • Maintain an understanding and work with the Technical Accounting Team on new technical accounting developments, regulatory changes, management requirements, accounting system updates, procedures, etc.  Assist in the incorporation and implementation of such changes into current company policies and procedures. 

  • Additional duties, as assigned.  

 

Required Qualifications: 

  • Bachelor's degree in Accounting/Finance. 

  • 3+ years of experience in Private Equity/Hedge Funds/Real Estate Funds is preferred.

  • Proficient in Microsoft Office. 

  • Excellent verbal and written communication skills. 

Preferred Qualifications: 

  • CPA/CA/ICWA/CMA 

  • Yardi experience. 

  • Qualifications may warrant placement in different job level. 

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