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    AVP, Assistant Controller - Boston, United States - Berkshire Residential Investments

    Berkshire Residential Investments
    Berkshire Residential Investments Boston, United States

    2 weeks ago

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    Description
    Company Overview


    Berkshire Residential Investments is a people-first real estate investment company who values not only the impact we make as a company, but the time we spend together in our high-performing teams.

    We value individual skills and perspectives to allow us to best serve our employees, investors, residents, and other stakeholders.


    If you're interested in a workplace where everyone feels empowered to bring their full, authentic selves to work each day, come join our talented and growing team at Berkshire Residential Investments.

    Our environment of entrepreneurial spirit, culture of expertise and our people-first approach will allow you to thrive while continuing to grow in your career.

    Position Summary


    The Assistant Controller will ensure that debt investment accounting and fund financial information is accurately captured, classified and recorded in the form of financial statements for assigned portfolios.

    This position will provide timely and accurate internal and external reporting related to financial and operational matters for assigned Berkshire Debt Funds.

    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:
    (These are the main duties/tasks of the position)

    Oversee assigned debt investment accounting staff (including offshore team) and review account reconciliations and financial statements prepared by them
    Oversee the monthly debt investment and 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)
    Analyze and understand financial performance vs expectations for discussion with senior Executives
    Responsible for preparation and review of the quarterly financial statements and investor reports
    Monitor accounting and reporting compliance with Fund/Account partnership agreements, investor side letters and debt instrument agreements
    Manage investment management fee and incentive fee calculations
    Prepare joint venture waterfall calculations, as applicable
    Manage preparation of the capital accounts, including roll-forwards and the quarterly ownership recalculations, where applicable
    Manage the returns calculations (TWR or IRRs) and dividend yields
    Responsible for calculation of distributions to general and limited partners, noncontrolling interest partners, debt investment distributions and Fund/Account distributions on a monthly/quarterly basis, or when applicable, for assigned portfolios

    Ability to forecast and manage capital calls, credit facility usage, acquisitions, financings, and operating cash flow to maximize portfolio and partnership returns.

    Help oversee and review the quarterly track record process
    Able to effectively use information technology systems and software to solve complex problems, address accounting needs and business issues, and generate operating efficiencies
    Where applicable, perform or oversee preparation of debt covenant compliance and debt service requirements of investor loans
    Where applicable, manage INREV calculations, submissions and investor's quarterly/ semi-annual requests
    Oversee external audit process for assigned portfolios
    Work collaboratively and effectively with all groups within the organization, taking a lead role in fostering that dialogue
    Manage third party relationships with custodians, servicers, trustees, partners, joint venture partners, etc.
    Manage and develop staff
    Manage adherence to internal controls surrounding financial
    Consistently demonstrate use of tact and discretion.


    JOB QUALIFICATION REQUIREMENTS:

    Knowledge/Experience:
    Minimum of five (5) years of experience, seven (7) years preferred, including credit/debt, private equity, or real estate industry
    Debt Funds/Real Estate Funds and fair value financial reporting experience preferred
    Internal controls - Registered Investment Adviser
    Experience with financial statement preparation required
    Strong analytical skills with attention to details
    Strong communication and interpersonal skills Meeting time sensitive deadlines and managing variable workloads
    Yardi experience preferred
    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
    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
    Maintain confidentiality of sensitive information and communications of information
    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 in business administration required, accounting concentration preferred
    CPA license and public accounting experience preferred
    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)

    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. Please visit our Careers page for full details - and to learn more about how we value our employees.

    Berkshire Residential values diversity, equity, inclusion and belonging. Berkshire is committed to providing equal opportunity in all practices, including employees and applicants for employment.

    We ensure that decisions affecting employees are made without regard to their race, color, creed, national origin, age, disability, gender, gender identity, sexual orientation, or any other protected status.

    #J-18808-Ljbffr

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