Quarterra Group, Inc., a wholly-owned subsidiary of Lennar Corporation (NYSE:LEN and LEN.B), is a multi-strategy, real estate focused, alternative asset management company comprised of two rapidly growing verticals: Multifamily and Single-Family Rental. Launched in 2011, Quarterra Multifamily, previously known as LMC, is among the nation's most active developers, builders, and managers and has been on the National Multi-Housing Council’s (NMHC) annual Top 50 list for eight consecutive years. Quarterra Single-Family Rental launched in 2020 to provide individuals, couples, and families who prefer to rent over home ownership the opportunity to live in exceptional neighborhoods with great amenities. For additional information, please visit Quarterra.com.
Summary of Position:
Reporting to the Director, the Assistant Vice President is responsible for assisting the Investments accounting team in all financial reporting and accounting related services required for multifamily funds and investors as well as corporate accounting.
Principal Duties and Responsibilities:
- Responsible for oversight and preparation of consolidation accounting, the reporting and financial control functions for real estate funds.
- Complete monthly, quarterly and annual close process which includes preparation and review of financial statements and financial information for reporting to the corporate office and investment partners and interpreting and clarifying fund results, deviations, underlying causes, and for corrective actions to be taken.
- Perform analysis of account balances and activity and provide explanations on variances.
- Utilize IFRS.
- Oversee and prepare INREV reporting.
- Assist with coordination of annual audit deliverables, tax compliance and REIT deliverables for the funds.
- Review monthly distribution for each asset and prepare and review investor allocations and notices.
- Review monthly equity draw packages for each asset and assist in compiling a consolidated monthly draw to be delivered to our investors.
- Assist with REIT compliance and review on a monthly/quarterly/annual basis.
- Preparation and review of management fee calculations and promote calculations in accordance with agreements.
- Assist with ad hoc requests or questions from investors and internal team members.
- Develop, implement, and maintain appropriate financial and administrative systems and processes for the fund.
Education and Experience Requirements:
- B.S./B.A. required
- CPA preferred
- Strong accounting/financial background
- 5+ years of experience in a financial role; real estate experience preferred
- REIT & IFRS experience is a plus
- Experience with fund and joint venture accounting preferred
- Advanced PC skills, including use of EXCEL
- Timberline or JD Edwards accounting software experience is a plus
- Excellent analytical and written skills
- Strong communication and supervisory skills
- Strong work ethic, team player
- Hands-on work experience
- Interact well with co-workers
- Work in a fast paced and fast changing environment
This is primarily a sedentary office position which requires the Assistant Vice President to have the ability to operate computer equipment, speak, hear, bend, stoop, reach, lift, and move and carry up to 25 lbs. Finger dexterity is necessary.
This description outlines the basic responsibilities and requirements for the position noted. This is not a comprehensive listing of all job duties of the Associate. Duties, responsibilities and activities may change at any time with or without notice.
Quarterra Group is an Equal Opportunity Employer that prides itself on diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to sex, color, age, national origin, religion, physical and mental disability, genetic information, marital status, sexual orientation, gender identity/assignment, pregnancy or related condition, protected status, or any other status prohibited by applicable national, federal, state or local law. Quarterra Group believes diversity and inclusion among our Associates is critical to our success and we seek to recruit, develop and retain the most talented people from a diverse candidate pool.
5+ to 7 years
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