Asset Management - REIT Property Financial Manager - Associate

J.P. Morgan; New York (NY); On-site; USD 80,000 - 120,000; Full time

Job summary

An established industry player is seeking an Associate for their Fund Accounting Team. This role involves supporting financial reporting for a significant Commercial Real Estate portfolio, maintaining accounting books under GAAP and Fair Value standards. You'll collaborate with seasoned professionals, engage in financial analysis, and oversee accounting treatments for various real estate transactions. The position offers an opportunity to work closely with investment teams, ensuring accurate financial performance insights and fostering strong relationships with partners and stakeholders. This is a chance to contribute meaningfully to innovative investment strategies in a dynamic environment.

Qualifications

• 5+ years of accounting experience with a focus on GAAP and Fair Value reporting.
• Strong understanding of complex real estate investment structures.

Responsibilities

• Maintain accounting books for historical cost and Fair Value reporting.
• Conduct financial due diligence for acquisitions and analyze real estate investments.

Skills

Accounting Experience

Real Estate Experience

Financial Analysis

GAAP Standards

Fair Value Reporting

Relationship Management

Education

Bachelor's Degree in Accounting

Tools

Yardi

Job description

J.P. Morgan Asset Managementis a leading global alternatives manager with a 40-year legacy of delivering innovative solutions across market cycles. Our specialized teams manage alternative investment strategies, supported by the extensive resources and governance of J.P. Morgan Asset Management. We offer a diverse range of strategies, including real estate, private equity, credit, infrastructure, transportation, liquid alternatives, and hedge funds, all designed to achieve specific client outcomes and provide uncorrelated returns to traditional asset classes. Our customized portfolios are tailored to meet individual client needs.

Job Summary:

As an Associate in the Fund Accounting Team at J.P. Morgan Asset Management, you will support the financial reporting of one of the largest Commercial Real Estate portfolios. Your responsibilities will include maintaining two sets of accounting books, one adhering to historical cost GAAP and the other to FV (Fair Value) reporting standards, to support the non-traded REIT. You will have the opportunity to collaborate with a team of seasoned professionals, overseeing various aspects of real estate financial analysis, accounting, structuring, and internal controls for properties within a designated geographic area. Additionally, you will work closely with investment professionals on acquisitions, dispositions, and capital restructures, focusing on accounting treatment and transaction execution for REA funds and investors..

Job Responsibilities:

• Cultivate and maintain strong relationships with REA investment team members, joint venture partners, and property managers.
• Conduct financial due diligence for acquisitions, collaborating with various REA departments, third parties, sellers, JV partners, and legal counsel.
• Reconcile and analyze differences between historical cost and fair value accounting to provide insights into the financial performance and valuation of real estate assets.
• Provide oversight and guidance on accounting treatment, offering periodic feedback on the quality and thoroughness of work products.
• Review monthly operating results of investments for Fund consolidation and pricing, serving as an escalation point for reporting issues.
• Analyze financial statements and performance metrics (IRR, equity multiples, time-weighted returns, etc.) of real estate investments.
• Engage with independent external auditors and tax practitioners.
• Prepare and review materials valuable for business management, internal stakeholders, and investors.
• Manage outsourced staff, ensuring adherence to responsibilities and deadlines.

Required qualifications, capabilities, and skills:

• 5+ years of accounting experience,with a strong understanding of historical cost GAAP and FV (Fair Value) reporting standards.
• 3+ years of real estate experience
• Bachelor’s degree in Accounting
• Strong understanding of complex real estate investment structures, mortgage documents, development management agreements, partnership agreements, property management and leasing agreements, and purchase and sale agreements
• Experience managing consultants and meeting time-sensitive deadlines

Preferred Qualifications, Capabilities, and Skills:

• CPA certification
• Proficiency in Yardi
• Experience with public REIT’s strongly preferred (traded or non-traded REIT’s),