Manager, Debt Accounting

Position Summary

The Accounting Manager (Credit/Debt Funds) will oversee debt investment accounting and ensure fund financial information is accurately captured, classified, and recorded in the form of financial statements for assigned portfolios.

Credit (Debt) Fund Strategies include: (1) purchasing Freddie Mac Capital Markets Execution B-piece debt investments that are collateralized by high-quality multifamily mortgages throughout the United States (2) pursuing directly sourced preferred equity and mezzanine loan opportunities as well as (3) originating floating-rate transitional bridge loans with the intent to get to critical mass, securitize pools of loans through Collateralized Loan Obligations ("CLO's") and retain non-investment grade bond classes.

Essential Functions

• Oversee portfolios of debt investments, including supervision of the daily workflow of the accounting staff (including offshore team), routine and non-routine assignments and monthly financial statement close process to ensure accuracy, completeness and in accordance with set deadlines
• Preparation and review of Fund/Account closing and consolidation process for their portfolios, which includes bond accounting (including interest income, principal payments and amortization of discounts), loan accounting (including interest income, capitalized or deferred interest and principal payments), warehouse and securitization accounting (including interest expense, principal payments to bondholders and amortization of costs and discounts associated with each debt instrument)
• Assist with adherence to internal controls surrounding financial reporting disclosure and compliance, and enhance internal controls as needed.
• Begin to assist in financial statement preparation and supporting materials
• Responsible for the management of the external audit process
• Manage third party relationships with custodians, services, trustees, partners, joint venture partners, etc.
• Review debt investment budgets and forecasts
• Support portfolio management as needed in the process of compiling the internal reporting packages and ad hoc requests
• Assist in review of joint venture documents, loan agreements and waterfall calculation set up and maintenance
• Assist in the preparation of quarterly, annual and ad hoc investor requests
• Perform REIT qualification testing on a quarterly basis
• Preparation of related party and joint venture partner activity reconciliations and related payments of intercompany balances and distributions
• Able to effectively use information technology systems and software to solve complex problems, address accounting needs and business issues, and generate operating efficiencies
• Manage and develop team members, including allocating regular one-on-one time to address areas that can be improved, while continuing to monitor offshore resources to ensure work product is adequate. Provide feedback to the group and provide recommendations for improvement. Set direction for the team when competing priorities occur
• Assist in preparation of investor capital calls, distribution notices and capital account statements for funds assigned.
• Consistently demonstrate use of tact and discretion

Knowledge/Experience

• 5+ years of practical accounting experience
• Demonstrated management skills with track record of building teams and identifying, mentoring, and growing talent in-person and virtual
• General ledger maintenance including consolidations and eliminations
• Practical accounting knowledge of account balances
• Full disclosure financial statement preparation, including footnotes
• Budgeting and forecasting
• Multifamily real estate accounting/management
• REIT tax compliance
• Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem solving
• Demonstrated multi-modal communication style that reaches every stakeholder, specifically excellent verbal, and written communications
• Ability to communicate with and manage up to senior management
• Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic
• Demonstrate emotional intelligence in high pressure and sensitive situations
• Tenacity, patience, and perseverance to work with business deals from beginning to end of process
• Maintain confidentiality of sensitive information and communications of information
• Represent the Berkshire employment brand well to candidates by seeking to understand the capabilities and insights of people with unique backgrounds, cultures, styles, and abilities
• Develop productive working relationships with all team members including internal clients and external third parties
• Demonstrated high level of ethics and integrity with a straightforward and honest approach

Technical/Educational Requirements

• Bachelor's degree with a concentration in accounting
• CPA or be CPA qualified preferred
• Must have experience with computer usage/applicable software to solve accounting issues
• Demonstrated ability to use and learn new technology (e.g., computers/hardware, mobile, software, cloud-based programs)
• Proficiency with computers, keyboards, monitors and telephone headsets.
• Proficiency in Microsoft Suite of Products (e.g., Word, Outlook, Excel, Teams, Power Point)

Pay and benefits

Berkshire Residential offers an excellent benefits package, focusing on our employees' total health and wellness. We offer programs and incentives that promote physical, mental, financial, and behavioral wellbeing both within and beyond our workplace. Current anticipated annual base salary range: $110,000 - $125,000. Base salary within the range will be determined by various factors including but not limited to the individual's experience, skills and qualifications. Please visit our Careers page for full details - and to learn more about how we value our employees.