Manager of Accounting – Residential
Manager of Accounting - Residential
Job ID: 2019-1712
Type: Regular Full-Time
# of Openings: 1
Revantage Corporate Services
The role of Manager of Accounting - Residential, oversees all activities related to supervising and managing the residential investments owned by Blackstone and held within the BPP Fund (LivCor). The role is responsible for overseeing the team responsible for preparing, analyzing and reporting on the financial and operating results of the residential investments at the asset level, investment level and a consolidated level. A successful Manager of Accounting is knowledgeable about real estate principles (GAAP, SEC) and has a strong business acumen and the ability to multitask inter and external requests.
- Manages and oversees the daily operations of Residential Investment Reporting including overseeing and reviewing the month-end, quarter-end and year-end close processes such as account reconciliations, prior period adjustments and monthly journal entries, bank reconciliations, etc. to ensure accuracy and completeness
- Reviews and analyzes accounting data and produces financial reports or statements such as P&L's, Balance Sheets and forecasts at the individual asset level and the consolidated portfolio level for the residential assets (LivCor,).
- Reviews portfolio annual budgets and individual property budgets in conjunction with the LivCor FP&A team or BX asset manager, and the loads into ERP system.
- Provides variance reporting to assess property performance relative to budget or forecast.
- Leads onboarding and wind down efforts of acquisitions, dispositions and change of operators
- Instrumental in the preparation of certain due diligence reports, such as prorations
- Conducts on site visits as necessary when onboarding or disposing a property
- Reviews all capex draw requests including lender draw packages as needed.
- Reviews projects assigned to staff to ensure compliance (lender or other), reporting accuracy and timeliness such as the debt reporting and the FF&E Draw submission.
- Serves as liaison with property operators
- Ensures all residential property invoices paid at the corporate level are processed and paid timely
- Enforces proper accounting methods, policies and principles
- Provides recommendations to improve systems and procedures and initiate corrective actions. Ensures direct reports are handling processes in a like and efficient manner.
- Constructs reliable cash models to project an asset's future performance
- Establishes and maintains fiscal files and records to document transactions
- Assists in the preparation and review results of annual audit findings
- Assists with developing and documenting business processes and accounting policies to maintain and strengthen internal controls
- Interacts with internal staff, related company (such as Insurance, Tax and Treasury) and external service providers to complete assigned responsibilities
- Ensures that processes are compliant with GAAP principles
- Incorporates anticipated demand, driven by company initiatives and business conditions to ensure required capacity and skills will be available in the future
- Assesses and reacts to changing business conditions, in terms of their impact the organization they lead.
- Ensures team's processes and procedures support the department's goals according to guidelines and policies
- Partners with senior managers to identify and drive external relationships with the team's key contacts and stakeholders including third party accounting departments and third-party operators accounting teams.
- Assists other PC's during Project initiatives on an as-needed basis.
- Directly supervises the following positions: Senior Accountants, Accountants, Associates and Interns
- Bachelor's Degree with a major in Finance, Accounting or closely related field, Master's Degree
- CPA preferred
- Requires understanding of financial models, corporate financials and regulatory market. Drive and desire to learn new technologies and grow technical and functional skill sets
- Passion for making business processes more efficient and successful
- Experience with systems integrations preferred
- Real estate knowledge a plus
- Must have knowledge of US GAAP
- Strong working knowledge of MS Office, accounting software and databases
- Excellent communication, problem solving and interpersonal skills necessary.
- Ability to multi-task and manage shifting priorities in a fast-paced environment
- Strong attention to detail and ability to work both independently and in a team environment
- Minimal out-of-the area and overnight travel may be expected (5-10%)
- Position requires accessibility outside of office hours via cell phone and email
- Position requires the ability to hear, talk and communicate in person and via phone daily
- Position requires the ability to use hands/fingers to enter, retrieve and/or manipulate data using a computer keyboard.
We are committed to providing equal employment opportunities to all persons regardless of race, color, ancestry, citizenship, national origin, religion, veteran status, disability, genetic characteristic or information, age, gender, sexual orientation, gender identity, marital status, family status, pregnancy, or other legally protected status (collectively, protected statuses). We do not tolerate unlawful discrimination in any employment decisions, including recruiting, hiring, compensation, promotion, benefits, discipline, termination, job assignments or training.
The above job definition information has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. Job duties and responsibilities are subject to change based on changing business needs and conditions.