Job Description
Realty Income aims to be a globally recognized leader in the S&P 100, committed to creating long-term value for all stakeholders. These stakeholders include our dedicated team members, who embody our purpose: building enduring relationships and brighter financial futures. This guiding principle serves as a beacon for our team, influencing every action we take.
Realty Income’s employees consistently invest their time, commitment, and dedication into the company, and in turn, they receive investment returns in the form of purpose, belonging, and opportunities for advancement.
Realty Income is committed to best-in-class corporate responsibility practices through environmental initiatives, governance programs, and community outreach projects. From the boardroom to the breakroom, our team members make a difference every day.
Position Overview:
The Accounting Manager, Private Funds, will be responsible for supporting the operations of the private fund business within Realty Income, including day-to-day involvement in accounting, financial reporting, investor services, performance, and cash management. This role involves collaborating with various departments and service providers to launch one or more new private real estate funds, including the setting up of accounting and reporting systems and processes.
This is a hybrid role, with Tuesday, Wednesday, and Thursdays required in-office.
Key Responsibilities:
Fund Accounting:
- Review deliverables from third-party accounting service providers, including fair value adjustments, management fees, incentive fees, and income allocations
- Review quarterly financial statements, including work papers and support
- Prepare quarterly reporting for fund expenses and organizational costs
- Review monthly intercompany balances between Fund and management company, and coordinate with the treasury/AP team to execute payments
- Review the fund liquidity analysis prepared by Treasury regarding investor commitments, the investment acquisition and disposition pipeline, financing facilities, and operating cash flow from the portfolio.
- Prepare support for quarterly distribution and review calculations and investor allocations provided by third third-party accounting service provider
- Coordinate with Accounting and Treasury on fund payments, including capital fundings and distributions from investments and to investors
- Assist in developing new custom reporting in Yardi or other data sources
Investor Services:
- Complete quarterly and ad hoc investor requests and consultant questionnaires; develop templates from data sources to facilitate recurring inputs
- Publish quarterly reports to the investor portal (flash report, fund report, investor capital statements) and investor notices (capital calls and distributions)
- Set up individual investor contacts and permissions in the investor portal based on subscription documents, and update periodically based on changes provided by investors
- Set up and maintain a repository of investor-side letters and key terms
- Assist with investor KYC/AML coordination with outside counsel and service providers
Financial Reporting:
- Assist in the design of fund reports (quarterly report, flash report, investor NAV statements) in Workiva in collaboration with the financial reporting team; assist in the design and testing of automated data integration with Yardi
- Quarterly reporting – roll forward quarterly reports in Workiva and coordinate content input among internal and external stakeholders; manage versions and approvals from draft until final
- Prepare reporting package for investor advisory committee
Performance:
- Assist in the setting up of the performance module in Yardi with gross and net time-weighted returns, IRR, and multiple on invested capital at the fund, investor, and investment level
- Review calculations provided by a third-party accounting service provider
- Roll up property-level returns into fund-level composites and compare to benchmarks.
Qualifications:
A qualified candidate is typically expected to have:
- 5+ years of relevant accounting experience, preferably with real estate private funds, public accounting firms, or publicly traded companies.
- Strong understanding of private capital fund accounting and reporting.
- Bachelor’s degree in Accounting, Finance, or related field of study.
- Certified Public Accountant (CPA) or working toward a CPA license
- Meticulous attention to detail in reviewing accounting and reporting data.
- Experience with Yardi, Workiva, and Juniper Square or similar systems.
- Strong oral and written communication skills, including the ability to explain accounting concepts to non-accounting leaders
- Advanced MS Office skills: Excel, Word, PowerPoint, Outlook
- Capable of working in a dynamic environment and managing multiple priorities effectively.
What you will get in return:
The pay range for this role is $107,018 - $127,347 - $178,763.
Offers near the high end are uncommon but may be considered for candidates with exceptional experience and skills and are dependent on the facts and circumstances of each case. You may be eligible for an annual discretionary bonus and an annual discretionary stock award, to be discussed during the interview process. An annual pay rate and total compensation package is generally determined by the candidate's experience, knowledge, education, skills, performance, and abilities, as well as internal equity, company performance, and alignment with market data.
Most US based full-time and part-time roles come with flexible schedules. We offer a best-in-class benefits package that includes healthcare, dental, and vision insurance for employees and eligible dependents. Our 401(k)-retirement plan has a company match of 50% up to 6% of eligible compensation. Realty Income also offers other wellness, financial, and work/lifestyle-specific benefits, along with 12 PTO hours every month; in addition to 12 paid holidays, and paid volunteer time. Realty Income’s purpose is to build enduring relationships and brighter financial futures, and this starts with you!