Interested and Qualified candidates, please submit resume to:

Sierra Olney | sierra@kelleraugusta.com | 401-487-4898

Kaitlin Kincaid | kaitlin@kelleraugusta.com | 617-413-1003

Category:Acquisitions/Originations 

Controller

Boston, MA

JOB DESCRIPTION

Company Background:

Our client is a private real estate investment management firm focused on serving the complex needs of predominantly life-science companies and institutions. Today, their platform is the largest private owner/operator of life science real estate based in Greater Boston. Their portfolio is located in core markets in and around Boston and Cambridge, Massachusetts, and New York City; currently, they are expanding into various Southeast markets. Their team combines talented professionals who have best-in-class experience with a hands-on entrepreneurial approach to successfully execute their tightly defined mission.

Position Background:

 

The position of Controller will lead the company’s accounting and reporting function. The successful candidate will be responsible for managing and overseeing all internal accounting activities relating to the firm, its growing portfolio of wholly-owned and joint venture real estate assets. This is an excellent opportunity for motivated, hands-on leader to join a 10-person team and contribute to the continued growth of an entrepreneurial, privately-owned real estate company. This position will be the most senior finance and accounting position with the organization.

 

Job Description:

 

Budget/Financial Reporting

  • Collaborate with management to develop and oversee Annual Operating Budget;
  • Prepare and draft P&L format by month and include below the line calculation of funds available for distribution;
  • Review draft budget with Principal and revise as necessary;
  • Enter approved annual budget into QuickBooks;
  • Semi-annual Reprojections;
    • Upon request, re-project net operating income in connection with purchasing of insurance, calculation of estimated tax liability of partners, distributions;
    • Quarterly Financial Reports (all entities 20+);
      • Enter adjustments for payroll and other expenses; coordinate with audit/tax partner for adjusting journal entries and/or placeholders relating to Owner’s equity/purchase or sale of building;
      • Oversee bank reconciliation, profit/loss and cash flow, balance sheet, statement of cash flows;
      • Produce Budget to Actual report with Variance Explanation for entity;
        • Bank reconciliation;
        • Profit/Loss and Cash Flow;
        • Balance Sheet;
        • Statement of Cash Flows;
        • Coordination with audit/tax partner for adjustments/placeholders;

Bookkeeping

  • Review invoices, prepare checks for payment; enter checks and deposits into Quickbooks;
  • Back-bill client related entities for costs incurred by Management;
  • Maintain monthly income tracking report;
  • Reconcile checking/savings accounts;
  • Upon request, provide cash position to Owner prior to distribution(s) and review equity contributions in connection with Trusts;
  • Quarterly Distributions;
    • Coordinate with team regarding Quarterly Distributions to the investor entities and individuals;
    • Prepare distribution checks;
    • Maintain copies of distribution calculations and check copies for use during tax preparation;
    • Annual Distributions;
      • Prepare list of vendors requiring 1099’s for issuance by audit/tax partner; include updated address, EIN or SSI number, and amount paid;
      • Deliver books to accountants for purposes of preparing K-1’s and tax returns; deliverables include P&L, Balance Sheet, Statement of Cash Flow, December Bank Reconciliation, narrative summary of activity, spreadsheet summary of distributions;
      • Work with project accountant to resolve any issues which arise; respond to requests for additional information and documentation;
      • Note:  While a return is only prepared on an annual basis, given the number of entities requiring attention, coordination with audit/tax partner should be thought of as ongoing;

Payroll/Retirement Fund

  • Coordinate with Paychex regarding bi-weekly payroll run, as necessary including payroll adjustments to include, new hires, 401K plan, health insurance reimbursement.
  • Payroll adjustments for employer tax liabilities
  • On an annual basis enroll participants in plan on anniversary date, maintain beneficiary forms, submit payroll census report to benefits consultant, true up contribution as necessary; coordinate calculation of profit share with consultant and Owner; present to accounting partner in connection with tax preparation;
  • Review annual report (form 5500) to federal government and, upon approval of the Owner, submit to the Department of Labor;
  • Review annual summary report prepared by benefits consultants for accuracy and distribute annual notices to all participants;

Benefits

  • Add new employees to health insurance; update status;
  • Track changes in health benefits; advise employees as necessary;
  • Review adjustment in cost; periodically re-bid;
  • Assist employees/owners with their questions/concerns;
  • Add to new employees to Disability/Life Insurance and obtain beneficiary forms; maintain copies;
  • Provide annual audit information for Worker’s Compensation Insurance to carrier which includes payroll information and federal and/or state tax filings;
  • Work with Insurance Agent (HUB) on Professional Liability/Employee Crime/Fidelity Bond Insurance/Cyberto complete required forms and prepare financials for use in underwriting
    • Review bid received and coverage limits to ensure that insurance complies with Partner and ERISA requirements;

Corporations

  • File Annual Reports with Massachusetts Secretary of State for all entities formed in Massachusetts; bill back costs as appropriate;
  • Update reports as necessary to reflect change in resident agent address or other changes;
  • Track reports to ensure that business remains in good standing;
  • Coordinate with CSC regarding payment of corporation excise taxes for out of state corporations (Delaware);
  • For first annual report, contact Secretary of State for pin number and password; review articles of incorporation for correct information.

Requirements:

  • The successful candidate will have at least 10 years of accounting and finance experience in real estate to include fund administration and / or the public accounting sector;
  • BA/BS in accounting, business, finance or related, CPA preferred;
  • Have experience gathering, evaluating, presenting and reporting financial information to executive and operating teams;
  • Experience providing direct leadership and oversight to the accounting team and any third-party property management firms on the review and approval of the monthly reporting packages, budgets and tenant expense reimbursement billing for all wholly-owned and joint venture entities;
  • Organized with a strong attention to detail;
  • Strong written and verbal communication skills;
  • Proficiency with Excel and experience with real estate general ledger accounting systems (Quickbooks, MRI, Yardi and Kardin).