We seek a Director of Finance* with tenure in multifamily real estate syndication. This individual will be able to consistently provide accurate conclusive financial data to the executive team combining compliance, risk, strategy, and operations using Agile workflow. Our applicants should have an unapologetic work ethic, a proven track record in supporting aggressive financial business operations, and be poised to flourish within this entrepreneurial firm. A tenacious desire to contribute to its growth and scale as an influential financial team presence is expected. This Director will serve in our LA office on a hybrid schedule.
*Notable candidates WILL include each of the following aptitudes and skillsets:
Accounting
- Adept understanding of real estate syndication and capital investments
- Manage partner money and investor waterfall distributions
- Investment real estate and multifamily property financial acumen
- Directs fund accounting determining net asset values, calculating fund performance, allocating expenses, and preparing reports
- Supervise the external accounting team and serve as the company’s POC
- Establish internal controls, cash movement protocols, and a chart of accounts and accounting processes
- Setup general ledger accounting software and maintain Chart of Accounts
- Obtain electronic access to bank accounts, credit cards, and vendor invoices and facilitation of electronic transfer of information into the chosen general ledger software, if applicable
- Responsible for investor relations transactions and reporting including distribution waterfalls (monthly), audit distributions, managing K1s and tax returns with the CPA, and leading investor DDQ responses.
- Expense allocation: re-classify as organizational expenses: which are fund expenses and vs. expenses of the management company in accordance with the PPM and the LPA
- Develop expenses matrix and allocation methodology
- Build cash controls around treasury accounts
- Oversee 3rd party PEO provider: payroll services, health/dental/vision benefits & 401K programs
Reporting
- Directs and sets priorities for processes that check for the completeness and accuracy of disclosure in financial statements
- Establish budget and forecasting analysis
- Update SERO and PFS for the CEO (quarterly)
- Provides guidance to team to ensure that accounting records are maintained in accordance with departmental policies and procedures
- Communicates reports and complex accounting intricacies to executives and stakeholders, investment teams, and external partners (legal, consultants, etc.).
Banking
- Select and setup bank accounts for the management company, general partner, and fund, as applicable
- Assist with payment template setup
- Establish approval and view capabilities
- Select and setup business credit cards, as applicable
- Wire funds to lenders and title companies
- Evaluate credit facility terms and agreements with financial institutions
Fund Structure and Corporate Services
- Name reservation(s) and obtain entity tax ID(s)
- Formation of a management company or equivalent entity
- Formation of fund entities in applicable jurisdictions
- Foreign state qualifications
- Domestic and Off-shore fund registration and governing documents (e.g., agreement of limited partnership, investment advisory agreement, and subscription agreements)
- Private placement memoranda
- Confirm structure and assist with entity formation requirements
- Collaborate with Counsel to review Company materials as they relate to accounting, compliance, risk management, and other formal documents to confirm they reflect current industry best practices and trends
Service Provider Selection
- Recommend, procure, and negotiate agreements with third-party service providers and manage the onboarding process, including:
- Information Technology (“IT”) / Cybersecurity provider
- Specialists: Administrator, Auditor and tax provider, Insurance providers, Banking provider
- Board member selection support: On-shore and off-shore fund counsel, Advisory board members, Board of Directors
Insurance and Compliance
- Obtain state unemployment insurance ID number
- Procure quotes and fulfill requirements for business insurance, state workers’ compensation insurance, state disability insurance, D&O/E&O
- Assist with completion and review of third-party due diligence questionnaires and inquiries
- Assist with the development of valuation policies and procedures, as appropriate
- Initial review of marketing materials, including the accuracy of disclosures made to clients, regulators, account statements, and advertisements
- Oversee compliance with a focus on blue sky filing and anti-money laundering strategy
- Preparation and review of periodic regulatory reporting to the local regulators
The “Must-Haves”
- Bachelor’s degree (MBA preferred) in accounting/finance from an accredited institution or 10+ years of experience as a senior finance professional
- Multifamily real estate investments and investor syndication management
- Comfortability with a multitude of software: Yardie, investor portals, Slack, and MS Suite with proficiency in Excel
- Adept attention to detail and insight into business objectives
- Logical thinker with tested analytical, problem-solving, and research skills
- Present a growth mindset with a flexible attitude
- Remain a collaborative and inspired team player