Fund Accountant

About Us

Riaz Capital is a real estate developer-operator driven by a motivated and talented team focused on addressing the changing housing needs of the Bay Area. We develop and operate missing middle-market multifamily real estate in the Bay Area, and are on a mission to provide convenient, premium-quality and financially accessible workforce housing to our residents. We work as a team that challenges, collaborates, and supports each other to positively impact residents and the broader community, and to deliver on our goals for our business and investors. Our buildings are planet-friendly with a low carbon footprint and high bike, walk, and transit scores, and we invest in the communities where our buildings are located.

Operating in the Bay Area since 1977, the Company’s roots go back two generations. We possess core competencies in design, development, construction management, asset management, finance and capital markets. Today, the company has ~$500 million in real estate assets under management (over 1,500 units) and has roughly 1,700 residences in the development or construction process. We have achieved an IRR of 36% over 12 exited deals between 2010 and 2019, and our latest fund, the Ozone Fund III, closed at $122M, well over our projected $100M target.

Our aim is to create a real estate asset base of over $1 billion by 2024 and provide premium quality, affordable, housing to ~5,000 residents by 2027.

At the core of our solution to the Bay Area housing crisis is the micro-living model - a synthesis of our years-long experience in micro-units, student housing, traditional multi-family, and co-living. The design incorporates all the necessary functions of a housing unit and works in a variety of building types: townhouses, mid-rise apartments, substantial rehab, and adaptive reuse. The units provide our residents with a sense of independence and individuality, all within the fabric of a larger community. Each of our projects places an emphasis on architectural creativity, thoughtful design, walkability, utilisation of open space, and personal privacy. In addition to new construction development, we have extensive experience in repositioning both urban and suburban workforce housing properties and have executed several adaptive reuse projects. Our current activities are ~70% new construction and ~30% adaptive reuse and repositioning.

Our firm’s culture is focused on being customer centric by understanding their needs and best providing for them. For us, it is just as it is important to do good for our residents, team members, the community, and the planet, as it is to do well by our investors and business. We support and challenge each other a team and believe people from diverse backgrounds, identities, and experiences, make our company better.

Fund Accountant

This is an exciting opportunity that works directly with the Controller to assist with responsibilities related to Investment/Fund accounting operations and works cross functionally with the investment and business development teams.  The goal of this role is to ensure smooth backend administration and accounting of assigned funds/companies.  In addition, the individual will be involved in the preparation and review of the annual audit reports, act as a direct liaison with the fund managers, auditors, and other related parties. This position requires a high level of attention to detail, an ability to thrive in a fast-paced environment, and a commitment to meeting deadlines.

Accounting & Reporting:

• Responsible for ensuring assigned investment fund is managed in accordance with the fund documents including the LPA, loan documents, side letters and any governing authorities
• Maintain general ledgers and sub-ledgers on a cash and accrual basis reflecting property performance with an ability to report on a fund/lender and market basis and ensure accurate and timely delivery of financial statements and deliverables
• Be primarily responsible for accounting portion of Novogradac monthly compliance close, which includes updating trackers, getting feedback from external accounting close
• Assist Controller in Monthly, quarterly, and annual fund closing process
• Assist Controller in the planning and creation of PBC support schedules for annual audits and tax returns
• Provide necessary information to Investor Relations to assist in Investor Reporting and fund decision making

Investor/Entity Compliance:

• Accountable for the investor relations system accuracy to ensure it is maintained
• Prepare and review investor capital calls and distribution notices
• Ensure all investor contributions/distributions are properly recorded in investment management and accounting software
• Ensure that new investors are property onboarded in investment management and accounting systems
• Assist in investor communication providing contribution and distribution status updates
• Responsible for fund entities on-boarding in accounting and operational systems, including opening bank accounts.
• Ensure fund entities are in compliance with Federal/State/Opportunity Zone specific requirements

Ad hoc Reporting/Project Implementation Assistance

• Assist in preparation of various financial ad hoc requests
• Assist in software implementation support and testing

Qualifications

Required:

• Bachelor's degree in Accounting; CPA or CPA candidate preferred
• Minimum of 5 years of accounting experience.
• Minimum of 3+ years in real estate accounting and/or property accounting
• Intermediate to advanced knowledge of excel 

Preferred:

• Detail oriented and deadline driven – Ensure detailed focus and ensure accuracy in job function and meet expected deadlines
• Problem Solving- Identify problems in a timely manner, gather and analyze information and develop solutions, resolve problems in early stages and work well in group problem solving situations
• Communication- Expresses ideas and thoughts clearly both in verbal and written form. Keeps others adequately informed and selects and uses appropriate communication methods.