Real Estate Fund Accountant, Associate

Location Designation : Hybrid - 3 days per week

When you join New York Life Investments, a wholly owned subsidiary of New York Life Insurance Company, you are joining a global investment company with a long history and passion for career development, innovation, collaboration, and diversity, equity and inclusion.

We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.

New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

As a top 25 global asset management firm with more than $600 billion in assets under management, we have an important mission : to help build a better financial future for our clients, our employees, and our communities.

We invite you to bring your talents to New York Life Investments, so we can continue to help people achieve their financial aspirations.

New York Life Real Estate Investors ( NYL REI ) is the real estate investment management division of New York Life Investments.

NYL REI manages a portfolio in excess of $65 Billion which includes real estate debt, real estate equities and real estate securities.

The equity portfolio includes assets held in New York Life’s general account, separate accounts, an open-end core fund, closed end value add funds, and co-investments with REIT vehicles.

We are seeking an associate accounting professional responsible for financial accounting and reporting for the equity real estate portfolio.

This opportunity requires developing an in-depth knowledge of the real estate industry and excellent technical ability. The position is responsible for ensuring the financial integrity and timely reporting of equity real estate, including funds, property, asset, joint venture, debt compliance, GIPs, NCREIF and investor account financials.

Responsibilities :

• Ensures accurate and timely financial information is provided, as necessary, to internal management, external auditors, internal auditors, and external clients
• Reviews and maintains quarterly valuation changes; calculates asset management fee and net asset value, as necessary
• Reconciliation between custodian banks and accounts, pricing, real estate reporting to the clients, appraisal adjustments and is the point person for their project’s audit
• Addresses and responds to specific financial requests made by Real Estate Officers regarding investment performance and fund financial statements
• Review capital call and distribution calculations, sources and uses, allocations, and investor notices
• Maintain and enhance accounting procedures and internal control systems
• Other projects and analysis as requested by senior management
• Contribute to process improvement initiatives to streamline the cash management function and enhance efficiency and accuracy
• Stay updated on industry best practices, regulations, and changes in accounting standards related to cash management processes.
• Collaborate with the accounting team to ensure proper coding and classification of expenses.
• Maintain accurate and up-to-date cash team records, including vendor information, invoice details and payment status in the cash system.

Qualifications :

• Undergraduate degree in Accounting or related field
• 0-3 years of accounting experience
• Experience with fund level, historical cost GAAP accounting, Statutory Accounting, and tax reporting a plus
• Yardi experience preferred
• Experience with corporate accounting, consolidation and SOX reporting
• Ability to evaluate, document, and implement best in class policies and procedures
• Cash Managements / Accounts Payable

LI-AM1

Salary range : $58,500-$85,000

Overtime eligible : Exempt

Discretionary bonus eligible : Yes

Sales bonus eligible : No