Director - Fund - The CIM Group - Los Angeles

Job description
Position Summary:
• The Fund Director is the lead finance and accounting person for a multi-billion dollar group of funds, including two opportunistic private equity real estate funds and a value-add separately managed account. The funds have complex investment venture structures, onshore/offshore parallel funds, feeder funds and asset, portfolio and fund-level debt.
• The Fund Director is responsible for the overall quality of the accounting and financial reporting for the fund and investment properties, including oversight of the entire fund accounting team for their funds. The Fund Director will assist their staff as needed with respect to technical issues, problem solving and training.

Job Responsibilities:
• Review and assist as necessary with the preparation of monthly, quarterly and annual financial statements for the fund and individual properties within the fund for external users, including banks, existing investors and potential investors.
• Preparation, review and presentation of internal financial reporting and analysis, including quarterly asset management meetings.

• Responsible for technical accounting compliance, including consultation with external auditors on complex accounting and tax issues as necessary.
• Review and understanding of significant fund and property level agreements, including the fund LP agreement and fund and property level debt agreements.
• Assist with the preparation and review of loan documentation for fund and property level financing and refinancing.
• Coordinate with Investor Relations with respect to fulfilling ongoing and ad hoc requests from investors for financial information.
• Coordinate financial reporting and accounting with multiple joint venture partners with varying levels of expertise.
• Review of and input to annual property level budgets and forecasts.
• Set up and maintenance of accounting records and procedures for asset acquisitions. Includes complex legal and joint venture structures.
• Coordinate and interact with the Investments team with respect to accounting and reporting issues for new and ongoing investments.
• Coordinate with the appraisal team regarding the annual property level appraisals and fair value adjustments.
• Coordinate the annual audit of the fund financial statements with the external auditor, including audit testing and review and preparation of the annual audited financial statements.
• Direct interaction with investors. Although most communication will be through Investor Relations, direct communication with investors is required.
• Update and presentation of the fund and investment level IRR model, at a minimum on a quarterly basis.
• Oversight and training of the Directors, Managers, Senior Accountants and Accountants working on the fund accounting team. Includes understanding of financial statements, general ledgers, subsidiary ledgers, budgets, cash flow projections and review of job cost reports.
• Calculate and/or review of complex distribution waterfalls for promote/carried interest distributions for investments and funds for actual distributions and hypothetical liquidation.
• Review contribution and distribution calculations, summaries and notices as needed.
• Interact and coordinate with Information Technology staff regarding new software, systems, applications and systems deliverables.
• Supervise staff of 1-10, including but not limited to conducting annual performance reviews, setting performance goals, providing on-going feedback, assignment of work, coaching and oversight of technical support.

Desired Skills and Experience
Job Requirements:
• Bachelor's degree in Accounting or Related Field.
• CPA preferred. CFA, MBA or other advanced degree a plus.
• 8+ years’ previous accounting experience.
• Real estate/private equity fund experience. Partnership/fund accounting experience preferred.
• Experience with tax efficient investment fund structures a plus.
• Mastery of key investment metrics (IRR, ROI, etc.).
• Extensive knowledge of GAAP accounting principles, particularly fair value accounting for investment companies and/or for tax-exempt institutional investors.
• Proficient in Microsoft Office, including Word and advanced proficiency in Excel.
• Experience in Yardi, MRI, J. D. Edwards or comparable software.

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