Fund Controller

Full job description
We are seeking a detail-oriented, intellectually curious, and experienced candidate to fill the position of Controller to oversee the financial operations of an open-ended real estate investment fund. This role is pivotal in ensuring accurate and timely financial reporting, managing the relationship with the fund administrator, and maintaining robust oversight of fund-level cash operations. Additionally, this position will oversee the financial reporting for several smaller separate accounts and/or closed-end funds.
The ideal candidate is a Certified Public Accountant (CPA) with 8–10 years of experience with several years in the real estate investment industry, including direct experience with open-ended funds.

Job Duties & Responsibilities:
Supervise and review financial activities of the open-ended fund, including daily, monthly, and quarterly reconciliations and reporting prepared by the fund administrator.
Serve as the primary point of contact for the third-party fund administrator, reviewing all deliverables for accuracy and completeness.
Evaluate and oversee NAV calculations, investor allocations, and performance metrics.
Oversee and run the annual audit, being the direct point of contact for the audit team, ensuring accurate and timely deliverables
Financial Reporting & Client Statements – Closed-end Funds
Coordinate, prepare, and review quarterly and annual financial statements for closed-end real estate funds, ensuring compliance with GAAP and applicable standards.
Prepare or review client capital account statements, ensuring timeliness and accuracy.
Cash and Liquidity Management
Maintain detailed oversight of fund-level cash flows, including capital calls, distributions, investment funding, and operating expenses.
Collaborate with Portfolio Management and Asset Management teams to forecast cash needs and ensure liquidity adequacy.
Analyze cash needs and draw on line of credit as needed. Maintain and track borrowings and be the main point of contact with the lender.
Process & Controls
Enhance financial reporting frameworks, internal controls, and documentation procedures.
Lead or contribute to process improvements and implementation of best practices within the finance function

Required Education & Experience:
CPA designation strongly preferred.
8–10 years of experience in real estate investment accounting, with demonstrated knowledge of both open-ended and closed-end fund structures.
Strong command of GAAP, partnership accounting, and fund-level financial operations.
The candidate must possess knowledge of how an open-ended fund should work in order to accurately review the work of the fund administrator.
Demonstrated ability to prepare and/or review fund partner waterfalls, including complex allocation models and tiered distributions.
Meticulous attention to detail and a high degree of curiosity and analytical thinking.
Proven experience working with third-party fund administrators.
Excellent written and verbal communication skills.
Proficiency with financial software and systems; experience with Sage Intacct, RealPage, Juniper Square, or similar platforms is a plus.

Job Type: Full-time

Pay: $100,000.00 - $175,000.00 per year

Benefits:

401(k)
401(k) matching
Dental insurance
Health insurance
Paid time off
Application Question(s):

Do you have Master's or Bachelor's Degree in Accounting/Finance ?
Do you have 8+ years experience as Fund Controller with CPA ?
Work Location: In person

United States
Illinois
Chicago Show on map Get directions