B. F. Saul Company
Bethesda, Maryland, United States
(on-site)
Posted
18 days ago
Salary
190,000 - 250,000
Salary - Type
Yearly Salary
Job Function
Other
Description
VP & Investment Controller
Company Overview:
ASB Real Estate Investments, a division of ASB Capital Management LLC, is a leading U.S. real estate investment management firm from over 300 institutional clients. Headquartered in the Washington, D.C. area, ASB invests in major markets across the United States, concentrating in industrial, multifamily, office, retail, and self-storage properties.
ASB has built success around talented, hard-working individuals who collaborate to gain a broad and integrated understanding of real estate disciplines to deliver attractive risk-adjusted returns. We encourage a culture of collaboration, and all members of our team engage in offering their points of view on major decisions in an extremely inclusive management process.
Job Purpose/Summary of the VP & Investment Controller
The Investment Controller will be responsible for oversight of fund level and property-level accounting for properties (held within any of the ASB investment funds) as assigned, from acquisition through disposition.
Summary of Competitive Benefits & Perks:
- Health/Medical Insurance including Dental and Vision
- 401(k) with company match
- Paid time off
- Bonus/Target Incentive
- Tuition Reimbursement
- Complimentary usage of modern in-house fitness center
- On-premise full-service dining center discounts
- Discounts via the companys EAP
- Monthly Employee Recognition Programs
- Referral bonus
- Pre-tax transportation options
- Plus more!
Essential Job Functions of the VP & Investment Controller:
New Transactions:
- Read transaction documents and comment as appropriate (particularly with respect to financial reporting provisions)
- Obtain formation documents from counsel
- Arrange and lead onboarding call with Manager/JV Partner
- Assist the Manager/JV Partner with opening bank accounts as appropriate; ensure that all related paperwork is completed timely and accurately
- Establish necessary entities on the general ledger/asset management system and provide training to the Manager/JV Partner as necessary
- Review the closing statement for the acquisition of the property to ensure income and expense prorations are correct, and other closing statement items are in accordance with the purchase and sale agreement
- Prepare wire request to fund the acquisition, and submit for approval and transmission
- Review the Fund-level acquisition general ledger entry (prepared by State Street) for accuracy, and provide the acquisition entry to the property accountant for recording in the property general ledger
Monthly:
- Review/approve invoices and send for payment
- Work with State Street, our fund administrator, to ensure accurate financials are produced.
- Work with property managers to provide accurate and timely financials
- Work with portfolio management and asset management on various projects as needed.
- Follow-up on outstanding receivables owed to the Fund by the property.
- Review financials: Income Statement; Balance Sheet; rent roll, including any new leases; capital expense requests; Development / Operation expense funding draws; distribution notices; and any other relevant financial statements and information
- Work with senior management / asset management to project cashflow for the fund.
- Ensure the accuracy of settlement statements when assets are purchased or sold.
Quarterly:
- In addition to monthly financial statement review as noted above:
- Review Net Asset Value and Fair Value of Debt models and determine quarterly Share Price of the fund.
- Provide reporting and compliance items to Lenders as required in the relevant loan agreements.
- Work Closely with Client Services to determine management fees and investor distributions.
- Manage Redemption Queue and Client Commitments
- Review quarterly REIT testing.
Annual:
- Provide audit support for both the Fund and Property-level audits
- Work with external auditors and the fund administrator to prepare audited Fair Value GAAP financials for ASB's funds.
- Provide support for tax return preparation.
- Review and comment on annual property operating budgets.
- Assist with maintaining proper internal control over financial reporting at the property and Fund levels.
- Help with technology innovations and updating accounting systems as needed.
Required Skills and Abilities of the VP & Investment Controller:
- Strong analytical ability
- Strong knowledge of real estate accounting, reporting and investing guidelines and requirements
- Demonstrated career history of continued growth and success in roles of increased complexity and responsibility
- Proven success in setting and achieving corporate objectives, including demonstrated work ethic, competitiveness and tenacity required to achieve top performance
- Excellent academic credentials
- Possesses the highest level of integrity and character
- Thrives in a small, cohesive and hands-on work environment
- Highly transparent and ethical and places a high value on both personal and firm integrity
- High energy; structured and action oriented
- Highly collaborative and committed to being a part of an integrated team
- Intellectually curious, creative, and a broad-based thinker
- Excellent communication skills, including written and verbal and the ability to structure and disseminate complex information in a range of appropriate styles/formats
Required Education / Licenses / Certifications of the VP & Investment Controller:
- Bachelor's Degree in accounting
- CPA Required
- 8- 10 years of experience as an auditor for public accounting firm and/or a major real estate company is desired
- Property or fund accounting background is preferred
- MRI experience preferred.
The actual base pay offered is determined by several variables, including, as appropriate, the applicant's qualifications for the position, years of relevant experience, distinctive skills, level of education attained, certifications or other professional licenses held. Base pay is one component of ASB Investment Management's total compensation package, which also includes access to or eligibility for healthcare benefits, a 401(k) plan, short-term and long-term disability coverage, basic life insurance, bonus plans and more.
ASB Real Estate Investments is proud to be an equal opportunity workplace. We foster an environment that recognizes employees unique skillsets and ensure that all employees have an equal opportunity to grow and advance.
If you are a candidate in need of assistance or an accommodation in the application process, please contact corporate.resumes@bfsaul.com or 301-986-6000.
Equal Opportunity Employer/Veterans/Disabled
$190,000 - $250,000 a year
PI282924582
Job ID: 82861756
