Description
Company overview: Raith Capital Partners, LLC (”Raith”) is a private investment firm focused on commercial real estate debt and equity investment. Based in New York City, Raith has a significant presence in the US real estate markets, investing on behalf of institutional and high net worth clients in discretionary funds and separate accounts. Raith supports its investment activities with a fully-integrated asset management team.
Conditions of Employment:- Designation: Full Time
- FLSA Status: Exempt
- Salary Range: Annual base salary of between $90,000 and $110,000 commensurate with experience and an annual discretionary bonus. Eligible for company benefits including 401k plan. Only local candidates should apply. No relocation assistance has been budgeted for this position.
- Real Estate Fund Asset Level Financial review and quarterly fair value reporting
- Review monthly asset trial balances prepared by property managers and prepare adjusting journal entries as required.
- Review monthly property management general ledgers for classification accuracy.
- Complete review of monthly property management reports including identification of variances to operating budgets and capital expenditure budgets. Work with Raith Asset Managers to identify source/explanation of variances.
- Prepare asset workpapers for submission to Fund Administrators including quarterly fair value adjustments and interface with Fund Administrators to troubleshoot potential issues.
- Prepare quarterly financial reports for submission to lenders for leveraged assets.
- Complete wind down of asset and liability accounts following asset disposition.
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- Preparation of weekly report scheduling invoice payment for invoices not paid at property level, cash needs and funds movement within the fund structure
- Ensure all invoices submitted for payment are properly approved and ensure Vendor W9 compliance
- Review and code vendor invoices for recording by Fund Administrator and payment by Raith
- Trouble shoot problem invoices
- Update cash tracking file for Real Estate Funds
- Assist in the preparation of Real Estate and CMBS fund routine financial reporting, including but not limited to:
- Quarterly, assist in preparation and review of fund level GAAP basis financial statements.
- Quarterly, assist in preparation and review of investor capital statements.
- Quarterly, assist in preparation of REIT testing.
- Annually, work with Big 4 or National CPA firms and internal team to conduct and issue audited fund financial statements on a timely basis.
- Work with Controller, Assistant controller and outside tax preparers in timely filing of all necessary tax returns and related filings, including 1099s
- Work with Fund Administrator to ensure accuracy of Administrators workpapers versus Raith internal workpapers.
- Work with Assistant Controller and Fund Administrator as needed to issue capital calls and distributions
- Work with Assistant Controller in ongoing management of capital commitments subscription facility and compliance with loan covenants.
- Assist in responding to investor quarterly questionnaires, and requests for information as well as respond to investor audit confirmations regarding capital account activity.
- Ensure period accruals are accurate.
- Assist Raith team members with ad-hoc projects
Relevant Skill Sets and Experience:
- Must have recent experience accounting for Commercial Real Estate and/or Commercial Real Estate Loans in a Private Equity or equivalent environment along with a strong understanding of Commercial Real Estate Valuation.
- 4-6 years of relevant experience in commercial real estate related accounting. A mix of public accounting (audit or taxation) and private organization(s) is preferred. CPA status is not necessary but is a plus.
- Strong knowledge of GAAP accounting.
- Solid experience preparing financial statements, budgets and forecasts. Tax experience is not necessary but is a plus.
- Strong ability to organize, stratify and present data in a succinct and understandable manner.
- Strong verbal and written communication skills required.
- Strong Excel skills required. Working knowledge of Word and PowerPoint.
- This position requires a motivated self-starter who is hands on and thrives on multi-tasking and is extremely detailed oriented with good business acumen.
This job is no longer active.