Fund Accounting Manager

Fund Accounting Manager

Location: Miami, Florida Employment Type: Full Time Worksite Arrangement: On Site

Our SelectLeaders client, a privately held real estate investment and development firm, is seeking a Fund Accounting Manager to support their continued portfolio growth and operations. The firm is actively involved throughout the investment lifecycle, including planning, development, construction, operations, and asset disposition.

The Fund Accounting Manager will lead the accounting and financial reporting for a fund and its underlying investment structure, including holding companies, project-level special purpose entities, joint ventures, and operating assets. This individual will serve as the primary point of accountability for financial information across the structure, ensuring that fund-level and investor reporting is accurate, complete, and supported by the underlying entity books.

The role works closely with external fund administration, tax, and audit providers, while partnering with senior leadership and investors on financial reporting and related matters. In addition to fund accounting, the position oversees investment-level accounting activities such as construction costs, lender draws, debt tracking, and operating results. The successful candidate will maintain a clear view of the entity structure and ensure that financial information is reconciled and reliable at every level.

Responsibilities

Fund Accounting and Financial Reporting

• Oversee accounting and financial reporting for private equity and real estate investment funds, including related general partner and management company entities, as applicable.

• Review and approve general ledger activity for investor-level, fund-level, and investment-level transactions.

• Calculate and review capital calls, distributions, partner allocations, preferred return accruals, carried interest, and management fees in accordance with governing agreements and applicable side letters.

• Model and test distribution waterfalls at distribution events and during quarter-end close processes, including hypothetical liquidation analyses.

• Prepare US GAAP financial statements, including fair value measurement of investments under ASC 820 and investment company reporting under ASC 946, as applicable.

• Prepare and review partner capital account statements and quarterly fund accounting packages.

Investment-Level Accounting and Entity Oversight

• Oversee accounting records for entities throughout the investment structure, including holding companies, project-level special purpose entities, joint ventures, and operating properties, whether maintained internally or by third-party providers.

• Maintain the legal entity chart and ownership structure, including ownership percentages, joint venture partners, lenders, and intercompany balances; update records following acquisitions, recapitalizations, and dispositions.

• Review and consolidate accounting information for operating assets in accordance with approved operating budgets.

• Review monthly entity closes, including construction-in-progress, cost capitalization, capitalized interest and loan fees, and depreciation.

• Reconcile construction draws to lender draw schedules, general contractor payment applications, retainage, and project budgets in coordination with project management.

• Track debt at the entity level, including loan balances, interest reserves, financial covenants, guarantees, and lender reporting deadlines.

• Consolidate or roll up investment results into fund reporting, eliminate intercompany activity, and reconcile equity-method accounting entries.

• Establish consistent close calendars, charts of accounts, and accounting policies across the entity structure.

Fund Administrator, Tax Advisor, and Audit Coordination

• Serve as the primary point of contact for the fund administrator; review and approve net asset value calculations, capital statements, waterfall and fee calculations, investor notices, and related general ledger activity before release.

• Investigate and resolve accounting differences, monitor service-provider performance, and review relevant internal control documentation, including SOC 1 reports.

• Provide tax-ready trial balances for the fund and underlying entities; support partnership tax returns, Schedule K-1 preparation, state filings, withholding requirements, and tax-related waterfall calculations.

• Monitor book-to-tax differences and tax filing calendars, coordinating required information with external tax advisors.

• Lead the annual audit process for the fund and applicable underlying entities, including preparation of audit support schedules, coordination of requests, fair value documentation, and review of draft financial statements.

• Manage audit and tax reporting timelines to support timely delivery of required financial information to investors.

Investor and Senior Leadership Reporting

• Prepare quarterly investor reporting packages in coordination with investor relations, including capital account statements, fund and project performance, construction progress, financing updates, and distribution summaries.

• Prepare reporting for senior leadership and investment committees, including fund cash position, project budget-to-actual results, sources and uses, debt maturities, investment returns, and projected capital calls and distributions.

• Partner with investor relations on investor servicing and onboarding, subscription documentation, and applicable AML/KYC processes.

• Respond to investor and limited partner advisory committee questions relating to financial matters.

• Support due diligence requests from prospective investors, existing investors, and lenders.

Treasury and Cash Management

• Oversee daily cash activity, wire transfers, and bank reconciliations across the fund and related entities.

• Maintain rolling cash forecasts at the fund and project levels, incorporating construction draw timing, equity funding requirements, and debt service.

• Maintain appropriate cash controls, including dual authorization for wire transfers and callback verification procedures.

Accounting Controls and Process Improvement

• Develop and document accounting policies, close checklists, and internal controls across the fund and related entity structure.

• Evaluate and improve accounting and finance processes, including entity-level reporting templates and automation of recurring reconciliations.

• Coordinate with construction, development, and property management teams on intercompany charges, cost allocations, and related accounting matters.

Reporting Cycle

Cadence

Typical Deliverables

Key Counterparts

Daily / Weekly

Cash position, wire approvals, and construction draw requests

Banks, lenders, project management

Monthly

Entity closes, budget-to-actual reporting, lender reporting, and cash forecasts

Bookkeepers, property managers, senior leadership

Quarterly

Fund close, NAV and capital statements, waterfall testing, investor reporting, and leadership packages

Fund administrator, investor relations, senior leadership

Annually

Audited financial statements, K-1s, tax filings, and fair value review

Auditors, tax advisors, investors

Event-Driven

Capital calls, distributions, acquisitions, refinancings, and dispositions

Fund administrator, senior leadership, lenders, investors

Qualifications

• Bachelor’s degree required; CPA license and/or a master’s degree in accounting preferred.

• At least six years of accounting experience, including three or more years in fund accounting for private equity or real estate investment funds. Experience with a Big Four accounting firm or fund administrator is valued.

• Demonstrated experience with complex, multi-entity structures, including special purpose entities, joint ventures, holding companies, and consolidations.

• Strong knowledge of US GAAP, including ASC 820, ASC 946, ASC 810, and real estate cost capitalization.

• Working knowledge of partnership taxation, Schedule K-1 reporting, and distribution waterfall mechanics, including preferred return, catch-up, and promote structures.

• Experience managing relationships with fund administrators, tax advisors, and external auditors.

• Experience with ground-up construction accounting, construction financing, and lender draw processes is preferred.

• Advanced Microsoft Excel skills and proficiency with Microsoft Office applications; experience with fund or real estate accounting platforms such as Yardi, MRI, Investran, Juniper Square, or comparable systems.

• Ability to manage competing priorities, work effectively under pressure, and meet demanding reporting deadlines.

• Strong analytical skills and the ability to assess and improve accounting and finance processes.

• Full professional proficiency in both English and Spanish are required.