Property Assistant Controller

Company Background

Founded in 1993, DivcoWest is a multi-disciplinary real estate investment firm headquartered in San Francisco, with offices in Los Angeles, Menlo Park, Cambridge, Washington DC, Austin, and New York City. Known for our long-standing relationships and track record of success in innovation markets, DivcoWest combines entrepreneurial spirit with an institutional approach.

DivcoWest aims to create environments that inspire ingenuity, promote growth, and enhance the health, happiness, and well-being of all people. A disciplined code of ethics is at the core of all that we do. We believe that the collective energy of a diverse team is what drives our creative ideas and solutions.

Summary

DivcoWest is looking for a Property Assistant Controller who will work out of our headquarters in San Francisco. Under the supervision of the Property Controllers, the Property Assistant Controller will primarily be responsible for accounting for reviewing month-end packages prepared by other team members and 3rd party Accountants, as well as managing external relationships and our cross-functional training program. The Property Assistant Controller will report to the Property Controller and will have up to two team members reporting to them.

 This role requires 3 days in office at our San Francisco, CA location. Please note that the in-office requirement is subject to change based on company needs.

Interested candidates should send their resumes to Recruiting@divcore.com.

Responsibilities

In addition to assisting the Property Controllers in special projects as assigned, the primary responsibilities of this position include:

• Oversee the accounting for a portfolio of properties.
• Month-end/Year-end closing functions such as cash/balance sheet reconciliations, updating and reviewing work papers, calculating property and construction management fees, etc.
• Ensure accounting transactions are recorded in accordance with fair value GAAP.
• Record and review accounting for acquisitions and dispositions of properties.
• Prepare and review tax packages for external tax accountants.
• Update personnel assignment schedules.
• Research, prepare and review periodic municipal tax filings.
• Assist with planning and coordination of audits and year-end accounting. This may include drafting footnote disclosure for property-level properties.
• Prepare and review periodic lender compliance packages including DSCR and DY calculations, as well as Guarantor covenant tracking for the portfolio.
• Responsible for updating accounting policies and procedures documentation and assisting in identifying internal control issues.
• Manage relationships with outsourced accounting providers; create program and protocol for reviewing outsourced accounting providers work product; oversee third party operators, which may include establishing deadlines and reviewing deliverables; assist with managing third party user access, as applicable.
• Assist with the annual property-level budget and provide oversight to periodic monitoring, including variance reporting.
• Mentor, train and supervise existing and new team members.
• Prepare ad hoc reports (such as cash management, related party fees) for various internal and external parties.

Additional Responsibilities

• Work directly with other Accounting Teams (Investor and Fund Reporting, Treasury, Corporate and Development teams), Property Management, Construction Management, and Investment Teams (Acquisition and Asset Management).
• Develop and own training program for internal and external accountants as well as cross-departmental trainings
• Understand complex accounting transactions and help make recommendations for accounting treatment to Property Controllers.
• Partner with the Property Controllers to identify process efficiencies, as appropriate.
• Maintain the confidentiality of all Company procedures.
• Follow all Company Policies and Procedures.
• Comply with all Company training requirements.
• Maintain a safe working environment.
• Regular in office attendance at the job is essential.
• Maintain a courteous, helpful, and professional attitude on the job. Display a willingness and ability to be responsive to all customer groups.
• Perform other duties as assigned in a positive and helpful manner.

Qualifications

• Bachelor’s degree in accounting/finance/economics, with a minimum of 7+ years of accounting experience.  A minimum of 3 years of experience supervising or leading a team of accountants.
• CPA or CPA Candidate preferred.
• Must be able to evaluate significant accounting transactions; research and implement relevant accounting technical standards.
• Must have a technology forward mindset. Experience in utilizing AI in accounting would be a plus.
• Real estate experience in commercial is strongly preferred. Experience with taxable REIT subsidiaries (TRS), REO or loan foreclosures, as well as additional experience in the development or multi-family spaces are a bonus.
• Ability to review and provide suggested edits to legal documents, such as property management and joint venture agreements during the negotiation stage.
• Experience with MRI and Nexus are highly preferred. Experience with Yardi, AVID, or other reputable ERP and Accounts payable systems will be considered.
• Must have experience in Excel, Word, and Outlook. 
• Strong interpersonal skills and ability to create a positive work environment for the team.
• Exceedingly well organized, very flexible, and strong follow-through.
• Must be a self-starter who is highly motivated, deadline and detail-oriented, and has a great sense of urgency.
• Proactive, resourceful, efficient with strong decision-making skills; works independently with minimal supervision.
• Problem solver mindset and solutions oriented.
• Expert level written and verbal communication skills; must possess a high level of professionalism. Prioritize and manage multiple projects simultaneously and follow through on issues promptly.
• Ability to interact with staff at all levels and personality types in a fast-paced environment, sometimes under pressure.

The person in this position must be able to:

• Remain in a stationary position for 75% of the time working on a computer and attending virtual meetings.
• Occasionally move about the office to access file cabinets, office technology, and attend meetings etc.

Compensation:

• $155,000-$180,000
• Annual bonus opportunity
• Full benefits 
• 401k
• Unlimited paid time off
• Weekly lunch stipend

Divco West Services, LLC (“Company”), an equal opportunity employer, is committed to equal opportunity for all employees and applicants.  The Company recruits, hires, trains, promotes, pays, and administers all personnel actions without regard to race, color, religion, sex (including pregnancy, childbirth, and medical conditions related to pregnancy, childbirth, or breastfeeding), sex stereotyping (including assumptions about a person’s appearance or behavior, gender roles, gender expression, or gender identity), gender, gender identity, gender expression, national origin, age, mental or physical disability, ancestry, medical condition, marital status, military or veteran status, citizenship status, sexual orientation, genetic information, or any other status protected by applicable law.  We interpret these protected statuses broadly to include both the actual status and also any perceptions and assumptions made regarding these statuses. Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records. Please review our company Privacy Policy regarding the use of any personal information you provide us at: https://www.divcowest.com/privacy-policy/

This policy applies to all areas of employment, including recruitment, testing, screening, hiring, selection for training, upgrading, transfer, demotion, layoff, discipline, termination, compensation, benefits, and all other privileges, terms, and conditions of employment.  This policy and the law prohibit employment discrimination against any employee or applicant on the basis of any legally protected status outlined above.