Dallas/Fort Worth Metro, Texas
Minneapolis-St. Paul Metro Area , Minnesota
Denton, Texas
Posted: 14-Mar-23
Location: Eastern US-Remote,
Type: Full Time
Categories:
Preferred Education:
Reports to: Chief Accounting Officer
Based in: * Eastern US - Remote *
Our Client is a global asset manager with an emphasis on real estate investing with approximately $12 billion of assets under management is seeking a Portfolio Controller to join their team.
Position and Responsibilities
Direct the efforts of the Recoveries team members and manage the reconciliation process.
- Review and assist preparers in tenant reconciliation for common area maintenance, insurance, and real estate taxes
- Ensure setup for all recovery calculations in accordance with lease terms, other legal documents, and historical information
- Partner with Asset Management and Property Management teams to resolve tenant billing disputes, document any changes, and update recovery setup as needed
- Manage tenant information requests and/or audit requests per the terms of the applicable lease(s)
- Review property operating expenses for proper GL and CAM pool coding and other GL account reconciliations, as assigned
- Review semi-annual and annual property tax billings and related tenant adjustments for accuracy; approve tenant billings
Partner with Property Management and Asset Management teams to assist with the annual property level budgeting process.
- Oversee budget setups and related calculations in MRI system of record and other systems as needed.
- Oversee accounting team efforts in budgeting and forecasting.
Review and verify tenant billing adjustments submitted by Property Managers/Asset Managers.
Track co-tenancy events and remediation efforts and required adjustments to billings and reconciliations.
Month-end/year-end close management, including:
- Manage staff to execute and deliver timely CAM updates quarterly in line with financial reporting timelines
- Communicate status of month-end and year-end close
- Review of balance sheet reconciliations, including such areas as:
- Common Area Maintenance program management
- Mortgages, Financings, and Lines of Credit, including interest accruals
- Equity (Common Stock, Distributions, Redemptions, Restricted Stock, etc.)
- Accrued expenses and prepaid expenses
- Review income statement analytics
- Rental income
- Reimbursement ratios
- Interest expense
Quarterly/ Annual Financial Reporting.
- Review of all financial statements (including cash flows) and corresponding support
- Review relevant sections of the 10-Q/K including MD&A; help coordinate audit/legal/internal comments
- Review sections of Board of Director presentations as well as internal and external audit presentations
- Review and comment on quarterly representation letters
Other Projects/Responsibilities:
- Lead process improvement efforts
- Review and interpret lease language as requested by Asset Management or CAM accounting teams
- Perform rent roll reviews at all locations and verify completeness and accuracy
- Potential pro forma work:
- Impact of significant acquisitions on financials
- Impact of borrowing base additions on covenants
- Research property accounting issues; prepare memos as needed
- Special projects / due diligence requests
- Secondary review of purchase price allocations for acquisitions
- Approve property level AVID invoices
- Help coordinate internal controls work
Qualifications and Skills
- Bachelor's degree in Accounting or Finance, CPA strongly preferred
- Advanced degree in Accounting or Finance, MBA strongly preferred
- Minimum 8-10+ years of commercial multi-tenant real estate industry with fund experience
- Experience working in a SOX, public company environment
- Advanced proficiency in Excel strong familiarity with database and other management information tools and applications
- Relevant ERP experience, MRI or Yardi preferred
- Ability to work in a fast-paced environment and overtime as needed
- Superior written and verbal communication skills
- Travel requirement – 10%
