Veritas Partners
Vice President of Fund Accounting
Veritas Partners, Annapolis, Maryland, United States, 21403
Base pay range
$175,000.00/yr - $200,000.00/yr
Additional compensation types Annual Bonus
Position Vice President of Fund Accounting – Leading REIT!
Location Annapolis, MD
Summary The Vice President of Fund Accounting position is a newly opened opportunity to join one of the largest and fastest growing locally based commercial real estate development and REIT organizations in the region with over 300 employees and $12B AUM. Based in the company’s Annapolis, MD headquarters, the Vice President of Fund Accounting will be responsible for overseeing all aspects of the companies fund accounting, team leadership, investor reporting, and strategic guidance of fund accounting compliance and processes. In addition to offering a highly competitive compensation plan comprised of a base salary in the $175,000 to $200,000 and 20% - 30% annual bonus, this opportunity will offer excellent benefits as well as a hybrid flexible work schedule upon 6 months of position tenure. Additionally, this is a unique opening to join a dynamic market leader with significant growth and career mobility. Ideal candidates will have 10 or more years of professional experience, prior public accounting experience, CPA or MBA, with relative industry experience.
Job Description
Responsible for managing the day-to-day fund accounting and quality of deliverables of the company’s close-ended and open-ended funds and is responsible for the integrity and timeliness of the fund(s) financial close and financial and investor reporting with respect to GAAP, company policies and contractual agreements.
This position will manage the people, process and technology related to fund accounting and is focused on the understanding of the agreements, investor relationships and strategic focus of the funds.
Directly responsible for all financial and related operational aspects of fund accounting for multiple funds and/or multiple lines of business for vertically integrated funds.
Understanding of complex legal documents, including partnership documents and lender agreements and maintaining fund financial knowledge.
Oversee the Fund Accounting team to ensure fund(s) is reporting in compliance with partnership agreements including an understanding of key deal terms and influence on reporting.
Ensure delivery of accurate and timely quarterly and annual reporting of fund related entities and consolidated results.
Communicate and engage the Asset Management team in the understanding of the consolidated financial results.
Oversee and ensure accuracy of all investor notices re capital calls/distributions, including the ILPA template, if required
Ensure that NAV/GAV, share price, waterfall and carried interest calculations, investor capital accounts are maintained in accordance with the fund documents and ensure the accuracy of the calculations.
Ensure that the fund has cash available for operations and distribution to investors, as needed
Provide business support to Fund/Asset Management team to support preparation of Advisory/ AGM/ AIP materials.
Ensure that investors are receiving timely and accurate responses to all inquiries.
Support tax compliance filings and ensure information is accurate and provided in a timely manner. Identify and understand partnership K-1’s and implications of REIT dividends and foreign withholdings to the investors as well as optimizing shareholder loans.
Understand the real estate and other valuations and deal transactions as it relates to the financial reporting and implications to the fund model.
In conjunction with Director, Financial Reporting own and document policies and procedures related to fund and consolidated accounting and associated internal controls.
Ensure financial information is maintained in accordance with GAAP and the company’s policies and procedures.
Manage and oversee the external audit process related to the funds including drafting of financial statements and/or new footnotes to the financial statements.
Resolve and document technical accounting issues related to both existing and prospective accounting standards.
Serve as lead contact with fund administrator for ensuring alignment with company requirements and consideration of all key fund related activities
Ensure the provider is compliant with and reporting in accordance with the terms of the fund service agreement in a timely and accurate manner
Ensure provider is managing and reporting the fund activities in compliance with partnership agreements
Review all deliverables from the provider to ensure accuracy of deliverables, including but not limited to consolidated results, capital calls/distributions, fund fees, GAV/NAV, unit price, partner capital statements, etc
Serve as a business partner to internal customers including fund and asset management, capital markets, tax, debt and others. Identify and document key fund measurements.
Proactively develop an effective relationship with the business leaders. Understand, anticipate and balance competing objectives of stakeholders and deliver effective solutions.
Understand strategic fund approach and ensure their reporting is supporting this strategy. Meet regularly with internal users of department information to ensure their needs are being adequately and appropriately met.
Suggest and implement process improvements to existing practices and procedures to gain efficiencies and develop best practices. Research and identify ways to incorporate AI and other software based systems into standard business functions and encourage team to expand use of similar technologies.
Manage and supervise the day-to-day activities of the fund accounting team. Responsible for staff training, appraisals and goal setting and holding staff accountable for performance as well as encouraging ongoing peer to peer and manager led trainings. Encourage employees to expand their company specific and business background in our industry.
Play a leading role in the management and strategic direction of the department including assisting in development, implementing and revising the department strategy, overseeing and directing specific initiatives of the department, and accessing organizational structure and personnel to stay ahead of company’s needs.
Job Requirements
10-15 years private equity fund accounting experience, including working with institutional investors. Real estate experience preferred.
Prior public accounting experience
MBA and/or CPA highly preferred
Well versed in the application of GAAP, financial reporting compliance, and investment accounting.
Ability to work on site at the company’s Annapolis, MD headquarters daily for an initial period of six months followed by on a hybrid basis 3 days in office a week long term.
Seniority level
Director
Employment type
Full-time
Job function
Accounting/Auditing, Finance, and Strategy/Planning
Industries
Real Estate, Investment Banking, and Venture Capital and Private Equity Principals
Inferred from the description for this job
Medical insurance
Vision insurance
401(k)
Paid maternity leave
Paid paternity leave
Disability insurance
#J-18808-Ljbffr
Additional compensation types Annual Bonus
Position Vice President of Fund Accounting – Leading REIT!
Location Annapolis, MD
Summary The Vice President of Fund Accounting position is a newly opened opportunity to join one of the largest and fastest growing locally based commercial real estate development and REIT organizations in the region with over 300 employees and $12B AUM. Based in the company’s Annapolis, MD headquarters, the Vice President of Fund Accounting will be responsible for overseeing all aspects of the companies fund accounting, team leadership, investor reporting, and strategic guidance of fund accounting compliance and processes. In addition to offering a highly competitive compensation plan comprised of a base salary in the $175,000 to $200,000 and 20% - 30% annual bonus, this opportunity will offer excellent benefits as well as a hybrid flexible work schedule upon 6 months of position tenure. Additionally, this is a unique opening to join a dynamic market leader with significant growth and career mobility. Ideal candidates will have 10 or more years of professional experience, prior public accounting experience, CPA or MBA, with relative industry experience.
Job Description
Responsible for managing the day-to-day fund accounting and quality of deliverables of the company’s close-ended and open-ended funds and is responsible for the integrity and timeliness of the fund(s) financial close and financial and investor reporting with respect to GAAP, company policies and contractual agreements.
This position will manage the people, process and technology related to fund accounting and is focused on the understanding of the agreements, investor relationships and strategic focus of the funds.
Directly responsible for all financial and related operational aspects of fund accounting for multiple funds and/or multiple lines of business for vertically integrated funds.
Understanding of complex legal documents, including partnership documents and lender agreements and maintaining fund financial knowledge.
Oversee the Fund Accounting team to ensure fund(s) is reporting in compliance with partnership agreements including an understanding of key deal terms and influence on reporting.
Ensure delivery of accurate and timely quarterly and annual reporting of fund related entities and consolidated results.
Communicate and engage the Asset Management team in the understanding of the consolidated financial results.
Oversee and ensure accuracy of all investor notices re capital calls/distributions, including the ILPA template, if required
Ensure that NAV/GAV, share price, waterfall and carried interest calculations, investor capital accounts are maintained in accordance with the fund documents and ensure the accuracy of the calculations.
Ensure that the fund has cash available for operations and distribution to investors, as needed
Provide business support to Fund/Asset Management team to support preparation of Advisory/ AGM/ AIP materials.
Ensure that investors are receiving timely and accurate responses to all inquiries.
Support tax compliance filings and ensure information is accurate and provided in a timely manner. Identify and understand partnership K-1’s and implications of REIT dividends and foreign withholdings to the investors as well as optimizing shareholder loans.
Understand the real estate and other valuations and deal transactions as it relates to the financial reporting and implications to the fund model.
In conjunction with Director, Financial Reporting own and document policies and procedures related to fund and consolidated accounting and associated internal controls.
Ensure financial information is maintained in accordance with GAAP and the company’s policies and procedures.
Manage and oversee the external audit process related to the funds including drafting of financial statements and/or new footnotes to the financial statements.
Resolve and document technical accounting issues related to both existing and prospective accounting standards.
Serve as lead contact with fund administrator for ensuring alignment with company requirements and consideration of all key fund related activities
Ensure the provider is compliant with and reporting in accordance with the terms of the fund service agreement in a timely and accurate manner
Ensure provider is managing and reporting the fund activities in compliance with partnership agreements
Review all deliverables from the provider to ensure accuracy of deliverables, including but not limited to consolidated results, capital calls/distributions, fund fees, GAV/NAV, unit price, partner capital statements, etc
Serve as a business partner to internal customers including fund and asset management, capital markets, tax, debt and others. Identify and document key fund measurements.
Proactively develop an effective relationship with the business leaders. Understand, anticipate and balance competing objectives of stakeholders and deliver effective solutions.
Understand strategic fund approach and ensure their reporting is supporting this strategy. Meet regularly with internal users of department information to ensure their needs are being adequately and appropriately met.
Suggest and implement process improvements to existing practices and procedures to gain efficiencies and develop best practices. Research and identify ways to incorporate AI and other software based systems into standard business functions and encourage team to expand use of similar technologies.
Manage and supervise the day-to-day activities of the fund accounting team. Responsible for staff training, appraisals and goal setting and holding staff accountable for performance as well as encouraging ongoing peer to peer and manager led trainings. Encourage employees to expand their company specific and business background in our industry.
Play a leading role in the management and strategic direction of the department including assisting in development, implementing and revising the department strategy, overseeing and directing specific initiatives of the department, and accessing organizational structure and personnel to stay ahead of company’s needs.
Job Requirements
10-15 years private equity fund accounting experience, including working with institutional investors. Real estate experience preferred.
Prior public accounting experience
MBA and/or CPA highly preferred
Well versed in the application of GAAP, financial reporting compliance, and investment accounting.
Ability to work on site at the company’s Annapolis, MD headquarters daily for an initial period of six months followed by on a hybrid basis 3 days in office a week long term.
Seniority level
Director
Employment type
Full-time
Job function
Accounting/Auditing, Finance, and Strategy/Planning
Industries
Real Estate, Investment Banking, and Venture Capital and Private Equity Principals
Inferred from the description for this job
Medical insurance
Vision insurance
401(k)
Paid maternity leave
Paid paternity leave
Disability insurance
#J-18808-Ljbffr