Corporate Accountant

About TruAmerica

• Founded in July 2013, Tru
• America Multifamily is a partnership between industry veteran Robert E. Hart and The Guardian Life Insurance Company of America.
• The company is based on the premise that tremendous upside potential remains in mid-tier apartment communities that can be unlocked through tailored renovation, repositioning strategies, and focused management.
• Tru
• America Multifamily is a privately held, fully integrated real estate investment firm that invests in apartment communities located in primary and secondary markets throughout the country.
• We continue to grow by selectively acquiring, redeveloping, and effectively managing multifamily properties.
• Tru
• America has grown to become a Top 25 apartment owner in the United States, according to the National Multifamily Housing Council (NMHC), and is the youngest manager in the NMHC Top
• 50. Today, Tru
• America has over 60,000 units in 25 high-growth markets and approximately $16 billion of assets under management.

Objective

The Corporate Controller is responsible for all accounting functions for twenty-six corporate entities, including the operating entity (TAM), eleven TAP investment vehicles, separate accounts, a renter's insurance entity, and the affordable housing investment entity, along with related investment vehicles owned by the CEO. The role both supervises and performs transactions across the corporate entities, including budgeting and forecasting, operational analysis, calculation of operational and capital transaction distributions, capital calls, and recording the company's share of earnings from property operations using the equity method of accounting.

Some entities use a fair market value basis, requiring knowledge of FMV accounting.

Tasks and Responsibilities

Financial Reporting and Operational Budgeting

• Perform the monthly accounting close process, including recordation of monthly operational activity.
• Prepare monthly schedules to support the balance sheet and income recordation.
• Track asset management fees, construction management fees, and other revenue sources by property with the assistance of the property accounting team, including receivable balances and billings to date less amounts paid to arrive at balances due at any point in time.
• Record management fee expense and other G&A expenses monthly.
• Compare income and expenses to budget monthly, with follow-up and explanations for significant variances.
• Prepare quarterly financial statement reporting for management and investors.
• Assist with the preparation of the annual budget.

Treasury Management

• Prepare bank reconciliations monthly.
• Settle intercompany balances monthly.
• Record debt service monthly for three lines of credit, along with the related interest expense.
• Calculate and record interest expense.

Operations and Corporate Accounting Assistance

• Record and amortize prepaid items such as insurance and loan fees, and deferred expenses such as placement fees.
• Maintain fixed assets and calculate and record monthly depreciation and amortization expense.
• Reconcile security deposits.
• Accrue, expense, and pay all personal property taxes, including understanding how these taxes are calculated.
• Record payroll bi-weekly and all related payroll items such as taxes, benefits, and 401(k) contributions.
• Record monthly accrued liabilities, including professional fees and accrued interest.
• Record and fund payroll semi-monthly.
• Perform other responsibilities as assigned, including learning additional functions such as fund accounting and property accounting to improve redundancy.

Valuations, Forecasting, and Financial Analysis

• Analyze financial data and assist with ad hoc projects.
• Prepare quarterly forecasting of income, expenses, and cash flow analysis.

Capital Events, Distributions, and Investor Reporting

• Record investments made, distributions received, and earnings/losses using the equity method of accounting.
• Calculate quarterly operational distributions.
• Calculate capital event distributions.

Financial Audits, Tax Return Preparation & Related Consulting Engagements

• Accrue professional fees such as legal, tax, and audit fees monthly and quarterly.
• Coordinate and prepare workpapers provided to auditors annually.

Qualifications

• Bachelor's and/or master's degree in Business Administration with an emphasis in accounting.
• C.P.A. strongly preferred but not required.
• 10+ years of experience in accounting and finance with multifamily real estate experience, preferably with a concentration in corporate accounting.
• Fund and property accounting knowledge preferred.
• Corporate accounting experience preferred, including recording payroll, allocation of expenses, intercompany balances, and corporate-related balance sheet and income statement experience.
• Understanding of internal controls for real estate operations and accounting.
• Understanding of financial reporting and the significance of each financial statement.
• Experience with the treasury function, such as setting up bank accounts, debt analysis, and wire and ACH processing, is a plus.
• Strong knowledge of GAAP, modified cash basis, and cash basis accounting.
• Experience in both the private and public accounting sectors preferred but not required.
• Experience reading and interpreting partnership agreements, promotes/waterfalls, and debt agreements.
• Experience with investment accounting; familiarity with the differences between cost accounting, the equity method, and consolidations is preferred.
• Experience recording and reporting for historical GAAP, fair market value accounting, and fund accounting is required.
• Advanced experience performing cash flow analyses and projections.
• Historical experience with multifamily real estate operations and accounting.
• Credibility, ethics, full disclosure, and a clean financial history.
• Confidentiality and an understanding of the ethical standards of an accountant.
• Conscientiousness about the timeliness of assignments and the quality of work product.
• Accountability for specific performance and accuracy.
• Ability to work independently with little supervision and to make decisions without requiring specific instructions on what to do and when.
• Exceptional intuitive and analytical skills to proactively address, identify, and resolve issues.
• Exceptional written and verbal communication skills, including the ability to articulate recommendations concisely and in a timely manner.
• Ability to multi-task without becoming flustered and to work under pressure in a fast-paced, growth organization.
• Strong financial reporting and technical skills.
• Strong work ethic, with the ability and willingness to roll up your sleeves to get the job done.
• Ability to develop relationships with all departments within the multifamily group, with an emphasis on teamwork.
• Exceptional computer skills in the operation and functioning of all programs used by the organization, including QuickBooks competency in the short term as the organization converts to RealPage.
• RealPage knowledge preferred but not required.
• Strong knowledge of Microsoft Word and Excel.
• Familiarity with property management software such as Yardi and RealPage (RealPage is primarily used) and with investment tracking software such as Yardi.
• Ability to analyze, organize, summarize, and articulate complex financial, operational, and legal information.
• Strong command of the English language, with the ability to proofread, write emails, and communicate effectively with colleagues, partners, and vendors.
• Ability to read and interpret agreements and implement their relevant provisions.
• Detail-oriented, organized, and communicative.
• Understanding yet persuasive and decisive when dealing with others in the organization.
• Responsive team player with the ability to quickly prioritize among numerous pressing tasks.
• Task- and goal-oriented, capable of functioning in an entrepreneurial and corporate setting.
• Outgoing personality, comfortable interacting with others within and outside the organization.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the position.

• Ability to sit for up to 10 hours per day.
• Ability to move freely around the office for up to 10 hours per day.
• Ability to communicate verbally and in writing.

Compensation

• The base salary range for this role is $170,000 to $175,000. This position is also eligible for a discretionary bonus.
• Applications are accepted on an ongoing basis until the position is filled.

Equal Opportunity Employer

TruAmerica Multifamily is an equal opportunity employer that is committed to diversity and inclusion in the workplace. We prohibit discrimination and harassment of any kind based on race, color, sex, religion, sexual orientation, gender identity, national origin, age, disability, genetic information, pregnancy, veteran status, or any other characteristic protected by federal, state, or local laws.

This policy applies to all employment practices within our organization, including hiring, recruiting, promotion, termination, layoff, recall, leave of absence, compensation, benefits, training, and internships. TruAmerica Multifamily makes hiring decisions based solely on qualifications, merit, and business needs at the time.