Sr Investment Accountant
Charleston, SC 29401
The senior investment accountant will be responsible for cash management/bank accounts, loans and lender reporting, investor reporting, capital transaction management, financial reporting, audit supports, investment acquisitions, investment dispositions and other general functions. This position will also be required to master all the duties of a staff investment accountant.
Provide guidance and assistance to the staff accountant in managing the day to day cash transactions of each fund/venture that is assigned. Review and approve transactions in Yardi, intercompany bill-backs and accounts payable coding/bank account selection, review and commit payments in Yardi for accounts payable, and monthly bank reconciliations. Manage the monthly sources and uses file for each assigned fund/venture, as well as get approval/sign off on this file from the manager. Manage the weekly cash needs and ensure sufficient funds are on hand, and manage the setup and closure of all bank accounts.
Respond to reporting requests from investors, including quarterly financial statements and partner capital statements. Work with the Investor Relations department to ensure that all investor requests are completed on time and that there is a clear understanding of what has been requested. Ensure that all deliverables are reviewed by either a manager or controller and portfolio manager, depending on the level of complexity, prior to being sent to the partner.
Provide all necessary reports for deals that are financed with third-party debt. Manage all lender reporting requirements (facilitating the receipt of information from other teams when necessary) and ensure all interest payments are made on time and according to cash waterfall requirements.
Manage the calculation and documentation process of capital transactions that occur between the funds/ventures and investors. Obtain consent from the tax department to include tax implications or withholdings if necessary. Prepare waterfall models in accordance with each fund/ventures agreements, prepare/manage promote distributions when necessary, review contribution and distribution packets prepared by the staff, and ensure that the staff is managing the signature/approval process, and review the notices that have been uploaded to Intralinks by the Investor Relations department.
Perform 1st level review (and assist with compiling where necessary) of the monthly, quarterly, and annual financial statements prepared by the staff accountant, including extensive review of all fee calculations, as well as perform a high-level review of the monthly property accounting GLs. Engage in the monthly, quarterly and annual financial statement review process, which includes reviewing the monthly reporting work-papers and reconciling accounts, completing the quarterly waterfall calculations, referencing and tying out the consolidated financials, reviewing the tables and charts prepared by the staff accountant that will be included within the management discussion and analysis and overseeing/reviewing the compilation of the Greystar Limited Partners equity income pick-up to the Corporate Accounting team. Every calculation or review completed by the senior should include trust/LPA/facility agreement referencing in order to ensure compliance with all agreements.
On an annual basis, or in accordance with the legal agreements, assist with the audit management for each of the funds/ventures. Assist with the oversight of the day to day process of the audit from start to finish. Assist with and review the preparation of the PBC request list, review audit information and documents prior to the staff accountant uploading, and complete the footnotes for the financial statements including referencing and tie-out for the manager and controller’s review. Prepare the rolled forward footnotes for the senior, and prepare the current year footnotes. Manage any changes that come back, getting approval from the manager/controller prior to implementing any changes. Run weekly status update meetings with the onsite senior and staff auditors when necessary.
During the closing of investment acquisitions, assist the manager in reviewing and referencing the closing documents, allocating the closing/completion payment across entities when necessary, preparing entity setup/IM setup in Yardi and preparing the opening entries. As applicable, communicate with property accounting and development accounting to make sure all teams are on the same page regarding the closing and the accounting responsibilities of each team. Attend meetings between Asset Management, Portfolio Management, Investment Accounting, and Development Accounting and obtain all necessary information from their manager. Document and support each step of this process to help facilitate with the first-year audit.
During investment dispositions, assist the manager with reviewing and referencing the closing documents, managing wind down expenses, managing disposition distribution to LPs (working alongside the tax department), managing disposition true-up, managing entity shut down and preparing all closing entries. Communicate with property accounting, development accounting, portfolio management and tax to make sure all teams are on the same page as to treatment of the disposition proceeds. Support each step of this process in order to help facilitate with the final audit.
Use Yardi software to house all the General Ledgers by entity. Enter journal entries and run reports for analytics. Use the Investment Management module (IM) to set up new structures, entering all entities and linking them by commitments. Set up accounting trees within IM to help with reporting. Think analytically about reports that can be generated to make our jobs easier/more streamlined, and look for ways to use Yardi to enhance reporting.
Understand the underlying agreements of each venture in granular detail as well as be able to assist the staff accountant(s) in their understanding. Work closely with the staff accountants on a daily basis, mentoring them and concentrating on developing their skills. Establish and maintain good working relationships with the following departments; portfolio management, property accounting, development accounting, tax, legal/compliance and external legal teams. This responsibility includes but is not limited to preparing ad hoc reports, sending supporting documentation, participating in analytical discussions, etc.
Master’s degree or higher in Accounting is required.
2 to 4 years of directly related experience.
Demonstrated proficiency in word processing, spreadsheet, property management (Yardi), and database management programs in order to complete required reports.
Demonstrated ability to complete financial records and other fiscal and accounting reporting information.
Greystar™ is the global leader in multifamily real estate, offering expertise in property management, investment management, and development and construction of rental housing. Established in 1993, Greystar™ is the largest property management operator in the world. Its dedicated team members and a commitment to hiring the very best multifamily professionals has resulted in record growth, making Greystar™ one of the most respected and trusted real estate companies. EOE.
401k Retirement Plan
Short Term Disability
Long Term Disability
Internal Training Programs