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Chief Accounting Officer

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Bethesda
 MD
Postal Code
20814
Country
United States

This job is no longer active.

Description


ASB REAL ESTATE INVESTMENTS                                                                                   

CHIEF ACCOUNTING OFFICER

 

POSITION SUMMARY

 

Rhodes Associates has been retained by ASB Real Estate Investments (“ASB”) to identify and recruit a Chief Accounting Officer. The Chief Accounting Officer will oversee and manage the financial policies, procedures, controls, and reporting systems for the firm’s real estate investment funds and their subsidiaries. The position will have a dual report to ASB’s Chief Operating Officer and Chief Executive Officer. The position is based at the company’s headquarters in Bethesda, MD.  

 

CLIENT DESCRIPTION

 

ASB Real Estate Investments, a division of ASB Capital Management, LLC, is a leading US real estate investment management firm with $7.4B in gross assets under management from over 340 institutional clients. Headquartered in the Washington, DC area, ASB invests in major urban markets across the United States, concentrating in office, multifamily, retail, and industrial properties.

 

Since 2003, ASB Real Estate Investments has been led by Robert Bellinger, Chief Executive Officer.  In the subsequent years, the firm has experienced significant growth AUM and a reorientation in investment focus towards multiple asset types in urban gateway markets.  The firm is guided by a singular mission: We Put the Interests of our Clients and their Investment Performance First.  ASB Real Estate Investments generates outstanding risk-adjusted investment performance for our investors so that their beneficiaries and retirees can secure life-long financial independence and peace of mind.

 

ASB Real Estate Investments achieves its’ mission by operating under a core set of values, which permeate the organization from the top down. They are:

 

Perseverance - Our people have the passion, resilience and perseverance to achieve long-term excellence.

 

Focus – By specializing, we want to be the best in the country at what we do.

 

Accountability - We enable our people to execute and require accountability for the results.

 

Empathy – We are committed to our people and their professional and personal development and engaging all voices to unearth creative solutions that will drive investment performance.

 

Social Responsibility – We are committed to making positive, impactful change to improve our community. 

 

For more information please visit:

KEY RESPONSIBILITIES

 

  • Guide financial decisions by establishing, monitoring, and enforcing policies, procedures, and internal controls.
  • Review joint venture agreements, loan agreements, and other financial documents during and after their negotiation and execution to ensure that such agreements are accounted for appropriately.
  • Make recommendations of changes to in-process transaction agreements to ensure harmony between and among accounting requirements and business objectives.
  • Monitor and confirm financial condition by conducting audits of information provided by joint venture partners and third-party service providers.
  • Coordinate annual independent audits of the real estate funds.
  • Manage the treasury function and liquidity of each fund including maximizing returns on short term investments, limiting risk, and updating cash flow forecasts to properly manage liquidity.
  • Provide status of financial condition by collecting, interpreting, and reporting financial data.
  • Ensure compliance with federal, state, and local legal, accounting, and reporting requirements by studying existing and new legislation; existing and new accounting guidance, enforcing adherence to requirements; filing financial reports; advising management on needed actions.
  • Maintain professional and technical knowledge by attending educational workshops, reviewing professional publications, establishing personal network, and participating in professional societies.
  • Protect operations by keeping financial information and plans confidential.

Tax:

  • Oversee the implementation of tax process, procedures, and internal controls.
  • Oversee third-party tax consultants to ensure timely filing of all tax forms and returns for all fund entities and subsidiaries.

Management:

  • Maintain a documented system of accounting policies, procedures, and controls.
  • Oversee the accounting operations of subsidiary properties and joint ventures, especially their control systems, transaction-processing operations, and policies and procedures.
  • Oversee all employees and operations of the accounting department to achieve the department's goals and objectives to the highest degree.
  • Participate on ASBRE Management Committee providing leadership and counsel on the overall strategic direction and management of ASB’s business and corporate governance.
  • Manage outsourced functions.

Transactions:

  • Ensure that accounts payable are paid in a timely manner.
  • Ensure that all reasonable discounts are taken on accounts payable.
  • Ensure that accounts receivable are collected promptly.
  • Ensure that periodic bank reconciliations are completed.
  • Ensure that required debt payments are made on a timely basis.
  • Maintain the chart of accounts.
  • Maintain an orderly accounting filing system.
  • Maintain a system of controls over accounting transactions.

Reporting:

  • Issue timely and complete financial statements.
  • Coordinate the preparation of quarterly and annual reports.
  • Recommend benchmarks against which to measure the performance of company operations.
  • Calculate and issue financial and operating metrics.
  • Manage the production of the annual budget and forecasts.
  • Calculate variances from the budget and report significant issues to management.
  • Provide for a system of management cost reports.
  • Provide financial analyses as needed, in particular for overseeing the management of the property portfolios and reporting performance to investors.

Compliance:

  • Coordinate the provision of information to external and internal auditors for the annual audits.
  • Monitor debt levels.
  • Comply with local, state, and federal government reporting requirements and tax filings.
  • Manage and monitor required compliance with loan covenants for both corporate balance sheet debt and property level debt.
  • Provide financial reports to banks as required by loan documents.
  • Monitor property and other income to ensure income qualifies for REIT purposes and that taxable income is only generated by assets that are held within TRS entities.
  • Monitor taxable income and schedule dividends sufficient to comply with REIT tax rules.
  • Monitor other accounting rules required under IRS REIT guidelines including asset sale limitations, permissible income requirements, property services income, etc.

 

KEY ATTRIBUTES/EXPERIENCE

 

  • 15 plus years of progressively responsible experience for a national auditor and/or a major real estate or financial services company is desired.
  • Superior analytical ability.
  • Strong knowledge of real estate accounting, reporting and investing.
  • Demonstrated career history of continued growth and success in roles of increased complexity and responsibility.
  • Able to persevere through difficult challenges and setbacks.
  • Proven success in setting and achieving corporate objectives, with the demonstrated work ethic, competitiveness and tenacity required to achieve top performance.
  • Excellent academic credentials.
  • Thrives in a small, cohesive and hands-on work environment.
  • Excellent listening skills. Open minded to different ideas and perspectives.
  • Highly transparent and ethical, placing a high value on both personal and firm integrity.
  • High energy; structured and action oriented.
  • Highly collaborative and committed to being a part of an integrated team.
  • Intellectually curious, creative, and a broad-based thinker.

 

 
  • Excellent communication skills, including written and verbal and the ability to structure and disseminate complex information in a range of appropriate styles/formats.
  • Proven leadership and general management skills, willing to take responsibility and be accountable for results.
  • Bachelor’s Degree in accounting or business administration or equivalent business experience is required.
  • CPA or CMA is strongly desired.

 

CONTACT INFORMATION

 

Jane Lyons, Managing Partner

George Yulis, Partner

Paul Dunlevy, Principal

Rhodes Associates

555 Fifth Avenue, Sixth Floor

New York, New York 10017

(212) 503-0462

 

Job Function


 

Job Sector


Not specified

 

Experience


More than 15 years


This job is no longer active.

Accounting / Control Bethesda Full Time MD Accounting / Control Chief Accounting Officer other