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VP, Real Estate Finance Manager
WeWork
New York, NY, United States
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WeWork is currently seeking an accounting professional with experience working with private equity and other investment firms to join the company’s growing investment and asset management group. This professional will advise WeWork on matters relating to development and implementation of business strategies for financial and accounting optimization in the context of WeWork’s real estate investment and asset management strategies. Successful candidates will enjoy working in an environment that is creative, mission-driven, results-oriented, and community-focused.
Other responsibilities –
In addition to these primary responsibilities, this accounting professional will also be responsible for the following –
• Analyze and advise on, and create, maintain, and update documentation in support of, various accounting attributes of the business’s investments, including accounting treatment and structure of transactions, and assessing, documenting, and recording accounting impacts and performing consolidation, business combination, and derivative analyses and formalizing into accounting memos
• Advise on accounting and accounting-related aspects of structuring, formation, and maintenance of investments and investment vehicles, including real estate investment trusts (and similar/comparable structures)
• Develop and analyze monthly, quarterly, and annual financial statement metrics, including monthly reporting on forecast-to-actual variances, and synthesize results to develop critical business insights
• Calculate and maintain key investment vehicle metrics, including net asset values, internal rates of return, carried interest, management fee payments, and other relevant financial metrics, and ensure accurate and timely reporting of all quarterly investor reporting requirements under all applicable contractual and other obligations
• Calculate and maintain performance data for individual assets and for overall fund performance and related accounts, and review and approve performance fees and accruals
• Research and resolve technical and other accounting issues and prepare and maintain relevant documentation
• Collaborate with internal personnel and external accounting advisors and other specialists to support key projects and initiatives, and oversee and manage the group’s relationships with third party accounting advisors, including to facilitate year-end audited financial statement processes and any interim testing
• Oversee and manage compliance with all external and intercompany agreement requirements, calculations, and payments, including in respect of real estate investment trusts (and similar/comparable structures), and document accounting implications and reporting requirements of transactions
• Assist in preparation and review of all legal, regulatory, or other filings and forms, and assist outside accounting and other third-party advisors in related compliance efforts
• Oversee and manage the monthly, quarterly, and annual financial-statement closing process and ensure entries are booked timely and accurately
• Lead preparation of annual and quarterly financial statements, investor information statements, and lender information statements for the group, including financial statement disclosures, journal entries, ledger accounts, and related documentation
• Coordinate third-party appraisal, valuation, property condition, and other reports
• Support cash and liquidity management and cashflow forecasting processes and manage and oversee bank accounts and operational banking relationships, including weekly and monthly cash reconciliations
• Oversee and manage execution of payments and cash transfers and develop and implement policies and procedures for cash management operations, bank account management, and other financial operations activities
• Monitor new accounting guidance and pronouncements and determine impact to the business, and advise on any necessary response or restructuring
• Collect, analyze, prepare, and advise on relevant data, information, and trends generated by the group’s investment activities, and create, manage, and support reports and dashboards to monitor the performance of the business
• Support and actively participate in annual and long-range strategic and financial planning processes and planning initiatives
• Support financial modelling and research initiatives
• Contribute to other financial planning and analysis projects and ad-hoc analysis for functional leaders and senior management as part of the group’s Finance Department
Required qualifications and experience –
• Bachelor’s degree in business administration, finance, accounting, economics, or a related field
• 6+ years of accounting experience, preferably with high-growth organizations and preferably in the real estate investment and asset management sector
• Strong solutions-oriented analytical and verbal/written communication skills, particularly in respect of data analysis and reporting and communicating complicated accounting concepts to non-expert colleagues and other parties
• Deep knowledge and understanding of U.S. gaap accounting, internal controls, and financial reporting concepts relevant to the real estate sector
• Understanding of investment structures, asset financial statements, and property-related agreements (eg development, partnership, and purchase and sale agreements)
• Demonstrated ability to prepare accounting memos by reviewing agreements and applying appropriate accounting guidance
• Intimately familiar with financial modeling techniques and valuation methods used by analysts and investors in the real estate sector, and thorough understanding of key industry metrics used by those stakeholders
• Service-oriented attitude characterized by strong listening skills and the desire to achieve shared success
• Attention to detail and time- and project-management skills
Preferred qualifications and experience –
• Previous experience with Workday
• Big 4 or large multinational in-house accounting department experience
• Previous experience working with real estate private equity clients
• CPA certification
• Results-driven, user-centric, innovative, and comfortable in a highly-complex and high-growth environment
• Creativity, flexibility, and openness to change