Investment Accountant

Location

Oakland, CA | United States

Job description

Our Company

Riaz Capital is an Oakland, California based fully integrated development, investment, and asset management company, focused on addressing the changing housing needs of the millennial generation. Our mission is that anyone who earns area median income can afford a place they would love to call home by building transit-oriented high-quality apartments at an affordable price point for our residents.

Our vertically integrated development firm has operated in the Bay Area since 1977. Today, the Riaz Capital team manages over 1,500 units and has roughly 1,700 residences in the development or construction process, and possesses core competencies in development, construction, asset management, finance & capital markets to exercise control and speed of execution through every stage of the development cycle. In addition to new construction development, the firm has extensive experience in repositioning both urban and suburban workforce housing properties, and has executed several adaptive reuse projects. Our current activities are ~70% new construction and ~30% adaptive reuse and repositioning. Today, Riaz Capital has ~$500 million in real estate assets under management and with our current development pipeline, should reach $1 billion by 2024/25.

Our core new construction design is a 300 +/- square foot studio that incorporates all of the necessary functions of a housing unit. We have developed a design that works in a variety of building types: Townhouses, Mid-Rise Apartments, Substantial Rehab and Adaptive Reuse. Our current design and mission is a result of a years-long synthesis of our experience from micro-units, student housing, traditional multi-family, and co-living. Our units foster total privacy and security, which provides our residents with a sense of independence (and individuality) all within the fabric of a larger community. Each of our projects has an emphasis on architectural creativity, unique design, walkability, utilization of open space and personal privacy.

Overview

This is an exciting opportunity to work in the Investment Accounting Department of a fast growing real estate development firm with the ability to learn complex real estate structures and transactions. The role works cross functionally with the investment, investor relations, and asset management teams with exposure to all facets of the company. The goal of this role is to ensure a smooth back end of the fund level administration and reporting. In addition, this role will be involved in assisting in the preparation and review of the annual audits, tax workpapers for the company’s various different entities, and acting as a direct liaison with the fund managers, auditors, and other related parties. This position requires a high level of attention to detail, an ability to thrive in a fast-paced environment, and a commitment to meeting deadlines.

Primary Responsibilities

Accounting & Reporting:

• Ensuring assigned investment fund is managed in accordance with the fund documents including the LPA, loan documents, side letters and any governing authorities
• Maintain general ledgers and sub-ledgers on a cash and accrual basis reflecting property performance with an ability to report on a fund/lender and market basis and ensure accurate and timely delivery of financial statements and deliverables
• Assist with managing the accounting portion of monthly opportunity zone compliance close, which includes updating trackers, and getting feedback from external accounting teams.
• Assist with the Monthly, Quarterly, and Annual fund closing process.
• Assist in the planning and creation of PBC support schedules for annual audits and tax returns
• Provide necessary information to Investor Relations and Investment Teams to assist in Investor Reporting and fund decision making
• Maintain books and records for the holding company and process all capital calls. Assist with monthly reporting to upper management.
• Assist with documenting all fund level accounting and investment management processes
• Prepare consolidated financial statements at the fund level
• Review financial data import of property operations from third party property managers to ensure accuracy and completion

Investor/Entity Compliance:

• Accountable for the investor relations system and must ensure its accuracy is maintained
• Prepare and review investor capital calls and distribution notices
• Ensure all investor contributions/distributions are properly recorded in investment management and accounting system
• Process all payments to investors for monthly or quarterly distributions
• Ensure that new investors are property onboarded in investment management and accounting systems
• Assist in investor communication providing contribution and distribution status updates

• Responsible for assisting in fund entities on-boarding in accounting and operational systems, including opening bank accounts
• Ensure fund entities are in compliance with Federal/State/Opportunity Zone specific requirements
• Responsible for for assisting in preparing fund loan documentation and maintaining loan schedule

Ad hoc Reporting/Project Implementation Assistance

• Assist in preparation of various financial ad hoc requests
• Assist in software implementation support and testing

Management

• Successfully manage your support staff, including distributed team members or any other relevant support staff
• Meet with your team member(s) who are direct reports on a weekly basis to manage tasks and review and verify their work product as needed to ensure adequate performance of responsibilities

Secondary Responsibilities

• Other tasks as assigned on an as needed basis to help achieve goals of the Accounting Department
• Other tasks as assigned and in coordination with other departments to achieve greater company goals and objectives

Requirements and Qualifications:

• Must Have 3+ Years of Public Accounting or 5+ Years of Real Estate Accounting experience
• Bachelor degree in Accounting required, Masters degree in accounting a plus
• CPA Preferred but not Required
• Real Estate and Investment Fund Accounting Required
• Partnership Tax Return Preparation Experience Preferred
• Must Have Working Knowledge of Entity Compliance
• Team player who can prioritize varied tasks from different managers
• Driven to learn and willing to do whatever is necessary to succeed
• Intrinsically motivated to learn and grow and take full ownership of assigned responsibilities and do what is necessary to support the accounting department and business needs
• Excellent Business Writing skills a plus
• Demonstrates an understanding of the urgent nature of our business and the need to proactively find and fix problems quickly and effectively takes ownership and follows through on decisions; doesn’t minimize or forget about problems

Riaz Capital is an equal opportunity employer and values diversity in the workplace.

Salary: Commensurate with experience - salary range $80-100k

Status: Full-time

Start Date: Immediately

Location: Oakland Office

Check out our amazing benefits!

• Competitive annual PTO - 18 days accrued
• 9 paid company holidays annually
• 401k with company match
• Generous Company contribution towards medical, dental and vision premiums and with increasing contributions to medical based on tenure
• Generous Cell phone, mileage and wellness stipends
• Generous Parental Leave
• Annual Continued Education Allowance to invest in team member training and development
• Company sponsored meals while in office

Riaz Capital is an equal opportunity employer and believes diversity in the workplace results in more innovative solutions and drives value for our firm.

Pay found in job post

Retrieved from the description.

Base salary

$80,000/yr - $100,000/yr (from job description)

Featured benefits

• Medical insurance
• Vision insurance
• Dental insurance
• 401(k)
• Paid paternity leave
• Commuter benefits
• Disability insurance
• Tuition assistance

Job tags

Salary