Assistant Portfolio Controller

4 weeks ago

Boston, Massachusetts, United States Berkshire Residential Investments Full time
Company Overview

Berkshire Residential Investments is a forward-thinking real estate investment company that prioritizes the well-being of its employees, investors, residents, and stakeholders. We foster a culture of expertise, entrepreneurial spirit, and people-first approach, allowing our team members to thrive and grow in their careers.

Position Summary

The AVP, Assistant Portfolio Controller will be responsible for ensuring the accuracy and timeliness of financial reporting for assigned portfolios. This role will involve overseeing property accounting and fund financial information, providing internal and external reporting, and analyzing financial data to inform business decisions.

Key Responsibilities
  • Oversee assigned property and/or debt investment accounting staff and review account reconciliations and financial statements.
  • Manage the monthly property and/or debt investment and Fund/Account closing and consolidation process for assigned portfolios.
  • Analyze and understand financial data, including budget-to-actual results, to inform business decisions.
  • Prepare and review quarterly financial statements and investor reports.
  • Monitor accounting and reporting compliance with Fund/Account partnership agreements and investor side letters.
  • Manage investment management fee and incentive fee calculations.
  • Prepare joint venture waterfall calculations, as applicable.
  • Manage preparation of capital accounts, including roll-forwards and quarterly ownership recalculations, where applicable.
  • Manage returns calculations (TWR or IRRs) and dividend yields.
  • Calculate distributions to general and limited partners, noncontrolling interest partners, property and/or debt investment distributions, and Fund/Account distributions on a monthly/quarterly basis, or when applicable, for assigned portfolios.
  • Perform or oversee preparation of debt covenant compliance and debt service requirements of investor loans, where applicable.
  • Perform the calculation of debt fair market value, where applicable.
  • Oversee external audit process for assigned portfolio.
  • Manage third-party relationships with joint venture partners, servicers, or fee-managed property owners, as applicable.
  • Manage and develop accounting staff.
  • Enhance internal controls surrounding financial reporting disclosure and compliance.
  • Perform other ad-hoc accounting duties as required.

Qualification Requirements
  • Knowledge/Experience
    • Minimum of five (5) years of experience, seven (7) years preferred, including real estate or private equity industry.
    • Demonstrated management skills with a track record of building teams and identifying, mentoring, and growing talent.
    • Fair value financial reporting experience preferred.
    • Internal controls - Registered Investment Adviser / Sarbanes Oxley experience preferred.
    • Experience with financial statements preparation required.
    • Strong analytical skills with attention to detail.
    • Yardi experience preferred.
    • Meeting time-sensitive deadlines and managing variable workloads.
    • Aptitude for organizing, prioritizing, and managing multiple priorities, using critical thinking and problem-solving.
    • Demonstrated multi-modal communication style that reaches every stakeholder, specifically excellent verbal and written communications.
    • Ability to communicate with and manage up to senior management.
    • Collaborative working style with inclusive work and thinking behaviors, commitment to excellence in teams and work product, with a strong work ethic.
    • Demonstrate emotional intelligence in high-pressure and sensitive situations.
    • Tenacity, patience, and perseverance to work with business deals from beginning to end of process.
    • Represent the Berkshire employment brand well to candidates by seeking to understand the capabilities and insights of people with unique backgrounds, cultures, styles, and abilities.
    • Maintain confidentiality of sensitive information and communications of information.
    • Develop productive working relationships with all team members, including internal clients and external third parties.
    • Demonstrated high level of ethics and integrity with a straightforward and honest approach.
  • Technical/Educational Requirements
    • Bachelor's degree required; accounting concentration preferred.
    • CPA license and public accounting experience preferred.
    • Demonstrated advanced financial modeling and Excel skills required.
    • Demonstrated ability to use and learn new technology (e.g., computers/hardware, mobile, software, cloud-based programs).
    • Proficiency with computers, keyboards, monitors, and telephone headsets.
    • Proficiency in Microsoft Suite of Products (e.g., Word, Outlook, Excel, Teams, PowerPoint).

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