Accounting - Fund - Private
Los Angeles, CA
The Controller is responsible for the overall quality of the accounting, financial reporting, schedule of individual partners’ capital, and investment schedules, performance measurement and preparation of management reports, including cash flow forecasting and other analysis, for their assigned funds and underlying asset, as well as, oversight of the assigned management reports for CIM Group and/or its subsidiary companies.
· Handles full-cycle accounting of assigned portfolio, including preparation and analysis of the financial statements, general ledgers, subsidiary ledgers, budgets, cash flow projections and review of job cost reports
· Applies knowledge of accounting and tax issues to determine impact on operations and cash flows in preparing asset and fund level models. Update and analyze results at least quarterly for internal monitoring and external track records
· Prepares and/or review fund, co-investment, and property financial statements to meet investor and lender reporting requirements
· Works closely with Financial Planning & Analysis (FP&A) to prepare and aggregate fund and investment cash flow projections and analysis by applying corporate finance concepts, including cost of capital and time value of money.
· Prepares, review and presentation of internal financial reporting and analysis, including asset management reports. Includes updating actual results, variance analysis for budget/underwriting to results, including investigation and comments, and documents the differences between results and budget/underwriting, and cash flow analysis.
· Analysis of fund and investment operations and review of waterfalls; accurately applies distribution allocations to calculate incentive allocations and performance returns applying knowledge of legal agreements and fund structure, including complex co-invest and joint venture structures, and fund and property level debt agreements
· Coordinates with Investor Relations with respect to fulfilling ongoing and ad hoc requests from investors for financial information
· Assists the appraisal team regarding the property level appraisals, including review of inputs, qualitative aspects and resulting fair value adjustments
· Prepares and/or review contribution and distribution calculations, summaries and notices as needed for funds, co-investments and joint ventures
· Gathers from fund directors/managers, and review investment profit and loss, and incentive fees.
· Oversees the consolidation of funds and companies through analysis of complex ownership structures to ensure accurate reporting
· Provides accurate and timely financial information to other internal departments and under the specific deadlines.
· Prepares and review of interim and annual financial reporting, including consolidated financial reporting as required under GAAP and IFRS
· Coordination with the external audit firm with respect to the preparation and issuance of annual audited financial statements and related footnotes
· Provides information for and take part in Q&A for audits and tax preparation.
· Provides project management oversight of internal processes and system implementation benefiting the portfolio being assigned
· Oversees on-boarding and day-to-day operations with third-party providers (i.e.: Fund Admin, Outsourced Accountants, Tax Advisor, Auditor)
EDUCATION/EXPERIENCE REQUIREMENTS: (including certification, licenses, etc.)
· Bachelor's degree in Accounting or Finance
· Must speak fluent Spanish
At least 7 years of Accounting or Finance experience, particularly with IFRS.
· Must have real estate/private equity experience, particularly fair value fund and/or partnership accounting
· Big 4 or other Public Accounting Experience (plus)
· Fund Administration Experience (preferred)
· CPA (preferred)
· Prior experience with Mexico and/or LATAM regulatory and tax environment (preferred)