What are the responsibilities and job description for the Assistant Controller position at Cobalt Recruitment?
A leading global commercial Real Estate Investment Trust (REIT) headquartered in New York City is looking for an Assistant Controller. With a diverse portfolio spanning office, retail, and mixed-use assets, the Assistant Controller will play a critical role in overseeing the financial operations, ensuring accurate financial reporting, compliance with regulatory requirements, and effective internal controls. The ideal candidate will have significant experience in real estate accounting, Big 4 public accounting experience, and preferably hold a CPA designation.
Key Responsibilities
- Oversee the preparation of accurate and timely financial statements by GAAP and SEC requirements, including quarterly and annual reports for investors and regulatory bodies.
- Manage day-to-day accounting functions, including general ledger maintenance, accounts payable/receivable, and cash flow management for the REIT’s portfolio.
- Handle complex accounting tasks related to commercial real estate, including lease accounting (ASC 842), property acquisitions, dispositions, and fair value assessments.
- Coordinate and manage external audits, ensuring compliance with SOX, REIT tax regulations, and other relevant standards. Implement and maintain robust internal controls.
- Assist in the development of annual budgets, financial forecasts, and variance analyses to support strategic decision-making.
- Supervise and mentor junior accounting staff, fostering a collaborative and high-performing team environment.
- Identify opportunities to streamline accounting processes, enhance system efficiencies, and implement best practices.
- Collaborate with internal teams (e.g., asset management, legal) and external stakeholders (e.g., auditors, tax advisors) to ensure alignment and transparency.
Qualifications
- 7-10 years of progressive accounting experience, with at least 3-5 years in real estate accounting (preferably within a REIT or commercial real estate firm).
- Prior experience at a Big 4 public accounting firm (Deloitte, PwC, EY, or KPMG) is preferred.
- An active CPA license is strongly preferred.
- Bachelor’s degree in Accounting, Finance, or a related field. A master’s degree or MBA is a plus.
- Advanced proficiency in Microsoft Excel and real estate accounting software (e.g., Yardi, MRI). Familiarity with ERP systems and financial reporting tools.
- Strong understanding of GAAP, SEC reporting, REIT tax compliance, and SOX requirements.
- Exceptional analytical skills, attention to detail, and the ability to manage multiple priorities in a fast-paced environment. Strong communication and leadership abilities.
- Experience with commercial real estate transactions, including acquisitions, leasing, and property management.
- Familiarity with debt financing and capital markets in the real estate sector.
- Proven track record of implementing process improvements or system upgrades
Salary : $165,000 - $185,000
