Director, Fund Controller

Director, Fund Controller | GID - Dallas, TX

GID is a privately-held, vertically-integrated real estate company that owns, operates, and/or manages a portfolio of multifamily and industrial assets, and develops multifamily and mixed-use projects across the United States. The firm also operates a credit platform that aims to provide commercial real estate debt solutions for institutional borrowers. With corporate offices in Atlanta, Boston, Dallas, Dubai, New York and San Francisco, GID is an experienced real estate investor and manager supported by an integrated operating platform and has 60 years of experience across multiple asset classes.  As of September 30, 2024, GID owns and/or manages $30.0 billion of assets under management across 57,000 apartment units and 28 million square feet of industrial and commercial space [1].  

DESCRIPTION:

This position will have a shared responsibility for the accounting, reporting and performance returns related to the GID Industrial vertical and will co-manage a team of five accountants as well as outsourced property accounting and fund administration service providers. 

The Director, Fund Controller will embrace our company values of accountability, inclusiveness, energizing, and courageousness.

RESPONSIBILITIES:

• Responsible for the accounting, performance measurement, and reporting functions for certain industrial funds (the “Funds”).
  • This includes overseeing the review of monthly, quarterly, and annual reports for inclusion in internal and external accounting, performance, tax financial and Investor-specific reporting requirements.
  • Maintain an active and professional relationship with corporate accounting, and other departments, including IT, legal and portfolio & asset management personnel.
• Responsible for the preparation and maintenance of team calendars in connection with monthly, quarterly, and annual reporting in addition to ad-hoc project management.
• Provide oversight and manage the accounting team's participation in the preparation and review settlement statements, agreements, due diligence work and transaction recording of real estate transactions for the Funds, including, but not limited to, the acquisition and disposition of assets in and financing arrangements.
• Manage the accounting team's participation in the acquisition/disposition of joint venture assets and oversee preparation/review of settlement documents, due diligence work, and transaction recording.
  • Review partnership waterfall calculations for accuracy and to ensure compliance with joint venture agreements.
  • Review buyout settlement statement on joint venture buyouts and sale transactions.
• Engage in oversight and review of financial information prepared by third-party service providers, including periodic analytical review of financial reporting packages provided by such parties and participation in site visits.
• Review Funds’ interim financial statements and covenant calculations in fulfillment of subscription line and other lender requirements.
• Ensure timely and accurate preparation of all required financial reports and related supporting work papers for distribution to external Tax group in connection with annual compliance filings.
  • If applicable, coordinate with external tax consultants on REIT and other federal tax compliance.
• Assist as needed with external auditors the year-end audit process from the planning stage through the issuance of audited financial statements.
• Review consolidated unaudited quarterly and annual audited financial statements and supporting footnote schedules prepared by the Assistant Controller and/or fund administrator.
• Develop and continually monitor the effectiveness of accounting policies and procedures, proposing changes as required.
• Keep current on new technical accounting standards, including US GAAP and NCREIF reporting, through ongoing professional continuing education and individual research.
• Mentor, coach and motivate a team ranging from Senior Accountant to Assistant Controller who are responsible for the day-to-day accounting and internal and external financial reporting for the Funds.
  • Consistent communication and on-the-job feedback is required in addition to conducting formal annual performance evaluations.
• Fully understand the capital structure, incentive structure and all financial aspects of the Funds’ partnership agreements.
  • Review all incentive compensation calculations and reconcile to calculations prepared by the Portfolio & Asset Management group for the Funds.
• Monitor actual and projected cash flows for the Funds, ensure that appropriate capital calls and distributions are made in a timely manner on a basis consistent with the underlying partnership agreements and that complete and accurate records of all capital contributions and distributions are maintained.
• Work closely with the Portfolio & Asset Management group to ensure proper and timely calculation of various real estate performance metrics including Incentive Waterfall, NCREIF, MSCI, IRR, XIRR, equity multiple and various other time-weighted fund and property level returns.
• Coordinate annual incentive fee audit with the Investors, as applicable.
• Review Investor reporting and correspondence including, but not limited to, capital calls, redemption notices, dividend and distribution notices and periodic capital statements.
• Overall responsibility of maintaining the Funds’ accounting information, performance data, and cash commitments of the Investors in the accounting system, as required by such Investors.
• Develop and implement Fund structures within GID accounting system and investment accounting SaaS platforms.
• Review the property annual business plans and budgets, including review of site-prepared income and expense projections, certain ownership related cost budgets and capital expenditures.
• Monitor and analyze state and local tax repercussions for each property within each Fund based on property amenities and location.
  • Coordinate with third party (if applicable) to ensure proper tax remittance.
• Respond or coordinate responses to inquiries and special projects from the Operations, Portfolio Management, Acquisitions, Legal, Treasury, and Tax departments.
• Assist Portfolio and Asset Management with ad hoc requests for financial information and investment performance from current and prospective Investors.

REQUIREMENTS:

•  Bachelor's degree (B.A. or B.S.) in accounting from a four-year college or university (CPA highly desired).
• At least eight to ten years of relevant experience, including at least three years of supervisory/managerial experience.
• Fund Accounting and/or Public Company experience is required.
• A background in real estate and/or public accounting is desirable.
• Excellent analytical, problem solving and organizational skills.  Strong attention to detail, team management and project management skills with ability to multitask and meet deadlines in a fast-paced environment.
• Effective communication both written and verbal

Our company considers a range of factors including education and experience when determining base compensation.

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This position is also eligible for bonus and benefits. For more information, visit: Benefits!   

Drug testing and background checks are an employment requirement. These are required steps in the hiring process.

GID is an Equal Opportunity Employer

[1]. See GID.com for details on the calculation of assets under management.