New York, United States of America
US$175000.00 - US$200000.00 per annum
Cobalt is recruiting for a New York City-based fully integrated real estate firm that invests, develops, constructs, and manages assets across the United States, concentrating on primary and secondary markets. We seek a Controller who can work in a collaborative environment and possess drive, integrity, creativity, and a strong work ethic. In addition, reporting directly to the Managing Partner, the ideal candidate must be a flexible and adaptable team player with strong organizational, managerial, and communication skills.
Principal Duties and Responsibilities
· Responsible for all portfolio-wide accounting functions, comprising residential, commercial, ground-up development, debt financing, and corporate entities.
· Supervise and develop accounting procedures for accounts receivable, accounts payable, cash management & payroll.
· Liaison with 3rd party management firms and their finance teams to give guidance and ensure policies and procedures are followed.
· Direct the accounting team on internal month and close year-end processes related to corporate allocations, financial statement preparation, accruals, review and approve journal entries and work papers.
· Calculate and issue financial analysis on the financial statements to management.
· Planning, organizing, and coordinating the month and year-end close out of financial records for external parties such as lenders, investors, and partner reporting requirements.
· Liaise with numerous CPA firms to provide all data necessary for property and partnership level audits and tax filings.
· Maintain and scrutinize internal controls for continuous improvement.
· Review and evaluate current and future cash requirements for internal purposes and 3rd party covenants.
· Assist with implementing and maintaining the annual budget / calculating variances from the budget, and reporting significant issues to management.
· Comply with local, state, and federal government reporting and tax requirements.
· Support management team with onboarding all newly acquired assets for uninterrupted operations.
· Maintained full-cycle investor equity tracking from contribution and distribution to final liquidation.
· Arrange incoming or outgoing cash transfers between investor or partner entities and property for capital events.
· Field investor inquiries regarding the tax treatment of deal transactions and tax reports.
· Ensure accurate and timely completion of the company's tax filings for corporate, property, and investor entities.
· Responsible for all aspects of partner-level tax planning, wealth management & tax filing.
· Administer new entity formations and respective government and tax agency paperwork. Organize bank account opening process and access for the team.
· Assist acquisitions team with accounting diligence and tax strategy on prospective acquisitions.
Experience, Skills, and Abilities Required
· Minimum seven years prior relevant experience within the real estate industry
· Bachelor's degree in accounting or business administration or another similar field
· Experience with a reputable CPA is preferred
· Exceptional knowledge of finance, accounting, cost accounting, and Generally Accepted Accounting Principles (GAAP)
· Advanced knowledge of bookkeeping and accounting best practices, laws, standards, and state/national regulations
· Experience with general ledger functions and the month-end/year-end close process
· Ability to keep records and files organized, keen attention to detail
· Competent collaborator and skilled cross-functional communicator
· Strong time management with respect for deadlines
The fair market assumption for this role is between $150,000- $200,000 annually.
The above salary range represents Cobalt's good faith and reasonable estimate of the possible base compensation range when posting. In addition, it is one part of the total rewards package this client provides to employees.