RE FRO ARA Senior Associate
WFA Digital Insight
As the demand for skilled accounting professionals in the real estate industry continues to rise, with a notable 25% increase in job postings over the past year, RSM stands out for its commitment to empowering its clients and employees. The RE FRO ARA Senior Associate role is particularly intriguing, given the combination of technical skills required, such as proficiency in Excel and Adjust, and the strategic thinking needed to navigate complex financial data. Candidates should be aware that this role, like many in the industry, values attention to detail, strong analytical skills, and the ability to communicate complex financial concepts effectively. Before applying, it's essential to consider how your skills and experience align with the evolving needs of the real estate sector and the specific challenges of fund level accounting.
Job Description
About the Role
The RE FRO ARA Senior Associate position at RSM is a critical role that involves overseeing the accounting for operating real estate assets and managing fund level financials. This is a dynamic position that requires a strong foundation in accounting principles, particularly in the real estate industry, as well as excellent analytical and communication skills. The role will be supervised by a Fund Controller and will be responsible for the review and oversight of accounting performed by third-party fee managers.Day-to-day, the Senior Associate will be engaged in a variety of tasks that include reviewing property management financial reports, recording fair value adjustments for investments in real estate and debt, and consolidating fund level financial statements. This role is crucial for ensuring the financial health and compliance of the investments under management.
The Senior Associate will be part of a team that values collaboration, integrity, and innovation. RSM's culture is built on the principle of empowering its people and clients to achieve their full potential, which makes for a supportive and challenging work environment.
What You Will Do
- Review and oversee the accounting for operating real estate assets performed by third-party fee managers.
- Record the fair value adjustment for investments in real estate and debt.
- Record equity in earnings for joint ventures.
- Record minority interest for consolidated entities.
- Record Fund-related transactions and consolidate all investments within a Fund.
- Draft quarterly Fund financial statements.
- Interact with property accountants, banking personnel, and asset managers.
- Draft financial information related to client quarterly questionnaires.
- Prepare Fund cash management transactions.
- Record and reconcile financial information.
- Prepare monthly, quarterly, and annual client reports.
- Prepare annual cash audit work papers and annual audit and tax work papers.
- Prepare internal and external performance returns.
- Prepare monthly Fund level bank reconciliations for checking accounts.
- Calculate and prepare statements of cash flows.
What We Are Looking For
- Bachelor’s Degree in Accounting or Finance.
- Minimum of 4 to 5 years of accounting experience with an emphasis in the real estate industry.
- Experience in both public accounting and private industry accounting.
- Experience with investment companies.
- Strong written and verbal communication skills, including the ability to articulate recommendations in a concise and timely manner.
- Detail-oriented and very analytical with strong organization skills.
- Quantitative propensity with the ability to spot errors.
- Strong computer skills in Microsoft Excel.
- Familiarity with performance data returns and internal rate of return calculations.
- Familiarity with consolidating and equity method of accounting.
- Strong knowledge of GAAP and accounting pronouncements in general.
- Understanding of variance analysis when comparing actual to budget or historical results.
- Ability to read and write financial statements.
Nice to Have
- Experience with MRI (general ledger) or similar accounting software.
- Knowledge of Adjust or similar software.
- Certification in accounting, such as CPA.
- Experience in a fast-paced, multi-task environment.
- Ability to establish educational goals necessary to enhance job skills and enhance technological skills.
Benefits and Perks
- Competitive benefits and compensation package.
- Flexibility in your schedule to balance life’s demands.
- Opportunity to work in a dynamic office setting with a team that values collaboration and innovation.
- Access to professional development opportunities to enhance job skills and technological skills.
- Health insurance and retirement plans.
- Paid time off and holidays.
- Remote work stipend.
- Opportunity to work with a leading provider of professional services to the middle market globally.
How to Stand Out
- Ensure your resume and cover letter highlight your experience with Excel and any other relevant accounting software.
- Prepare examples of how you have applied analytical skills to solve financial puzzles or identify trends in financial data.
- Be ready to discuss your experience in real estate accounting and how you stay updated with changes in accounting pronouncements.
- Show enthusiasm for continuous learning and professional development, especially in enhancing technological skills.
- Consider creating a portfolio or samples of financial reports you have prepared to demonstrate your skills.
- During the interview, ask questions about the team you will be working with and the company culture to show your interest in the role beyond just the technical aspects.
- Research the company's values and mission to understand how your skills and experience align with RSM's goals.
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