Director, Portfolio Accounting

 

About the Company

Sagard Real Estate is a real estate investment advisor and operator providing investment management services throughout the U.S. including acquisitions, asset management, development and property management for our investors. With $5.3B in assets under management, our clients invest through separately managed accounts and commingled funds.

Sagard Real Estate is based in Denver with regional offices in New York City, Charlotte, Los Angeles, San Francisco and Austin metro areas.

For more information, visit www.sagard.com/realestate.

Attention Recruiters: The position is handled internally and does not require staffing assistance. In the event staffing assistance is needed, an approved staffing agreement will be required before candidates are considered.

About the Opportunity

The Director, Portfolio Accounting reports to the Head of Portfolio Accounting. The Director, Portfolio Accounting will manage the accounting and reporting of the assigned funds and separately managed accounts (“SMAs”) and underlying property investments. This role will lead, train, and supervise the team in maintaining financial statements and related reconciliations, capital statements, and oversee all functions of the funds and their underlying property investments.

Key Job Duties

• Responsible for overseeing client and financial reporting for open-ended funds, closed end funds and SMAs, including monthly and quarterly financial statements, investor statements, annual audited financial statements, general ledger maintenance, accounting reconciliations, customized client reporting, ad-hoc reporting, and investor reporting analyses
• Review quarterly reporting packages to ensure proper application of accounting policies and standards, including documentation, procedures and performance of internal controls.
• Directly responsible for all financial & related operational aspects of fund & property accounting including delivery of accurate and timely monthly, quarterly and annual reporting
• Oversee work performed by third-party administrators and outsourced accounting service providers, including review of workpapers, supporting schedules, reconciliations, financial statements and investor statements.
• Review cash distribution waterfalls for various ownership structures and ensure compliance with applicable fund/JV agreements.
• Ensure compliance with all management agreements and work with compliance and legal counsel to negotiate agreements related to the investment vehicles.
• Coordinate the annual audit process for all assigned entities subject to audit, including monitoring of custody rule requirements, ensuring timely and accurate issuance of unqualified audit opinions.
• Oversight of the tax compliance process for assigned entities, including oversight of third-party tax service providers, preparation of deliverables needed to prepare annual tax filings and quarterly estimates, and preparation of client deliverables and projections. Coordinate tax payments to various jurisdictions as necessary.
• Oversee all accounting aspects of property acquisitions and dispositions, including capital calls, distributions, acquisition and disposition accounting, onboarding/offboarding and entity wind-down and dissolution activities
• Oversee cash management within the properties and funds including all operating receipts and disbursements, capital contributions, distributions, investor/JV waterfall calculations, and evaluation of cash requirements for each entity on a monthly or quarterly basis.
• Collaborate with internal teams to ensure timely and accurate delivery of accounting information needed, including quarterly capital reconciliations and annual budget and reforecast inputs.
• Work closely with investor relations with the on-boarding of new investors including review of subscription documents and transfers/assignments for completeness and provide ad-hoc information requests as needed
• Oversight of the onboarding of new funds and SMAs, including application of the provisions of the related management and entity agreements, the development of tools to support reporting requirements, RFIs and RFPs and interfacing with investor relations, asset management, property management, and portfolio management to provide accounting support
• Drive continuous improvement of processes, policies, controls, and documentation. Collaborate with other accounting leaders and stakeholders to optimize results.
• Supervise direct reports: establish annual performance goals and objectives; monitor and guide progress to enhance their professional development. Provide regular feedback and establish clear priorities.
• Support overall company culture of developing productive teams through leadership, training, developmental experiences, collaboration, feedback, and mentoring.
• Proactively develop an effective relationship with all stakeholders in the business units, executive management, and external auditors
• Hold staff accountable for performance, while maintaining a learning culture and a high morale throughout the team.

Education Requirements

Bachelor’s degree required; accounting/finance majors and CPA preferred

Experience Requirements

• Minimum 7 years of direct experience with private equity real estate investments, accounting for securities/fund accounting, and/or public accounting.
• Minimum of 5 years delegating, managing, and prioritizing work activities of a team, providing clarity and strong interpersonal and teamwork skills.
• MRI accounting software or equivalent experience with enterprise accounting systems

Knowledge, Skills, and Abilities

• Excellent problem-solving skills with the ability to make decisions independently and effectively
• Excellent interpersonal and communication skills to forge effective working relationships throughout accounting team and organization.
• Ability to thrive in a dynamic environment.
• Strong change management and leadership skills
• Ability to multi-task, with attention to detail and an ability to work both independently and in a team environment.
• Ability to coach and mentor staff, providing support and direction.
• High proficiency in Excel, including experience with complex formulas, pivot tables, and data analysis.

Starting Salary Range

$150,000.00 to $185,000.00 Annually

 

The starting salary for this position is an estimate, based on potential employee qualifications, operational needs and other considerations permitted by law. Actual salaries will vary and may be above or below the stated range based on various factors including, among other factors, location, education and training, experience, internal pay alignment, and performance. A potential new employee’s salary history will not be used in compensation decisions. Many candidates’ compensation will start in the bottom half of the stated range. This role is also eligible to participate in a merit-based annual bonus program, health, vision, and dental insurance plans, long and short-term disability, 401K plan, and PTO. This information is provided in connection with the Colorado Equal Pay for Equal Work Act, and similar requirements in California and New York. Positions located outside of these states may or may not necessarily receive the same compensation. 

Sagard Real Estate Employee benefits include: 

• Flexible Time Off 
• 401k Matching Program 
• Competitive Medical, Dental and Vision plus FSA and HSA options 
• Paid Caregiver Leave Benefits 
• Commuter Pre-Tax Savings Program (Parking and Mass Transit) 
• College Tuition and Continuing Education Reimbursement 
• Mentorship and Leadership Development Opportunities 
• Paid Social and Engagement Events Throughout the Year 
• And More 

 

Sagard Real Estate’s Commitment to Equity and Inclusion is evident and continuously showcased from dedicated workgroup efforts and programming for recruitment, inclusive culture, retention, and training initiatives throughout our organization. To learn more about Sagard’s ESG initiatives and how our inclusion efforts support, visit sagard.com/responsibility. 

Sagard Real Estate’s Commitment to Applicants is evident with no discrimination in our recruitment process due to race, color, disability, creed, gender, sexual orientation, gender identification, age, religion, national origin, citizenship, marital status, veteran status, or any protected category by local, state or federal laws.