Manager, Fund Accounting

The Belay Way – Dedication, Detail-Oriented, Innovation, Collaboration, Respect and Attitude

Company Description

Belay Investment Group, LLC is an institutional real estate investment management firm that is at the forefront of providing scalable access to small-scale real estate. The Firm does this through programmatic partnerships with locally entrenched and specialized operators with exclusive deal flow and “on-the-ground” market insights throughout the US. Belay pursues investment opportunities across the risk spectrum, property types, and geographies, including both debt and equity, offering its clients unique access to these alpha generating real estate opportunities.

Role Description

As Manager, Fund Accounting, this individual is responsible for the management of accounting and reporting for assigned funds and groups of investors. Additionally, providing leadership and guidance to the operations team, day-to-day management of offshore team members, and direction on reporting requirements to operating partners. Member of the Operations Team responsible for the execution of the company’s best-in-class accounting, reporting, finance, and cash management functions.

• Location: Los Angeles, California
• Schedule: Hybrid – Tues/Wed in office, Mon/Thurs/Fri work from home
• Compensation: $140,000 plus discretionary performance bonus. Competitive benefits package including medical, dental, vision, life, 401k, paid holidays, vacation, and sick-time off

Roles and Responsibilities

Fund Administration, Accounting, and Reporting

• Responsible for fund administration, including: investor capital calls/distributions, PJV capital calls/distributions, payment of asset management fees, and debt borrowings/paydowns, investment valuation, and fund waterfall.
• Responsible for the production of fund quarterly reports and financial statements with related footnotes, including year-end audited financial statements, ensuring compliance with US GAAP investment company reporting standards and following NCREIF/GIPS standards
• Responsible for the delivery of investor reporting, including capital account statements, delivery of tax documents, investor-specific templates, and ad-hoc requests as applicable.
• Responsible for the quarterly review of operator reporting packages and compilation of information about investments required for reporting.
• Manage, coordinate, and monitor the preparation and support of all external audits and serve as a key point of contact for external auditors.

PJV Administration

• On-board new operating partner relationships and provide guidance on firm reporting requirements
• Work with operating partners to understand material financial transactions, ensure compliance with PJV agreements, review management fee and waterfall calculations for accuracy, and facilitate review and approval with the appropriate firm personnel as needed.
• Collaborate with operating partners by sharing knowledge, guidance and best practices related to accounting, finance and reporting execution

Performance Measurement & Investor Reporting

• Update fund models quarterly for actuals, reprojections, and new investments.
• Prepare the firm’s performance track record primary deliverables and supporting dataset
• Assist in preparing firm marketing materials and provide information to potential investors and their consultants on an ad hoc basis.

Accounts Payable, Treasury, and General Ledger Operations

• Assist with the day-to-day management of the accounts payable, treasury, and general ledger operations processes 

General Requirements

• Strive to continuously improve business processes to maximize efficiency, accuracy and quality of deliverables.
• Participate in company-level growth initiatives, including joining committees.
• Responsible for managing, mentoring, and developing all team members. 
• Providing timely performance reviews and feedback on all direct reports.
• Maintain internal controls around accounting and reporting.
• Review and maintain documentation of policies and procedures and recommend changes as needed.

Skills and Qualifications:

• BS and/or MBA/MAcc, finance, or business administration.
• CPA, with prior public accounting experience – minimum 3 years
• 5-7 years public/private accounting experience
• 3-5 years real estate and/or private equity experience in an accounting/reporting role
• Experience with accounting for investment companies under ASC 946.
• Advance MS Excel modeling and accounting analysis skills
• Strong PowerPoint skills
• Demonstrated ability to work with senior leadership to work through complex financial and operational scenarios.
• Demonstrated ability and desire to translate and communicate complex financial concepts to individuals at all levels including those with and without finance and accounting expertise.
• Strong leadership skills and supervisory experience of other professionals
• Ability to multitask/prioritize and work under strict deadlines.
• Strong written and verbal communication skills
• Excellent analytical and abstract reasoning skills, plus excellent organization skills