Associate Manager, Investment Real Estate Accounting

Prudential Financial, Inc.

 

Prudential Real Estate Investors (PREI) is the real estate investment management business of Prudential Financial. PREI is comprised of fund management centers in the US located in Madison, New Jersey, Atlanta, Chicago, New York and San Francisco. Globally, PREI has offices in Munich, London, Singapore, Mexico City, and Hong Kong. PREI's specialized operating units offer a broad range of investment opportunities and investment management services in the United States, Europe, Asia, Latin America and Australia. PREI's Principles of Business include doing the right thing, building bridges, valuing our people and working to win; we also place high importance on sustainability.

 

As of June, 2014, PREI managed over $59.3 billion in gross real estate assets ($43.7 billion net) on behalf of over 460 clients worldwide and ranks among the largest real estate investment managers. For more information, please visit http://www.prei.com/.

 

Job Description

The Investment Operations Associate Manager services and supports Prudential Real Estate Investors (PREI) in the accounting and reporting of the real estate investments within their portfolios. The Associate Manager supports the Manager and/or Director who reports into the Fund Controller. The Associate Manager is primarily responsible for understanding accounting implications of all acquisitions and sales transactions and ensuring the proper execution of accounting and all reporting for their assigned portfolio.

 

Major responsibilities include:

• Directing a staff of approximately 1- 3 accounting professionals
• Ensuring that statutory, cash and other Enterprise reporting requirements are met
• Assisting in the preparation of timely and accurate quarterly and annual financial statements for a Real Estate Investment Fund
• Preparing and reviewing timely and accurate quarterly data submission to various industry organizations and consultants
• Interacting with the Asset Managers in on-going operational matters
• Working with accounting professionals on deal abstracts to ensure a thorough understanding of the required accounting and tax reporting necessary for the transactions
• Developing the proper models to calculate partners splits as it relates to partnerships investments and similar financial calculations
• Participate in interactions with PREI Legal and Transaction staff on acquisitions and sales of investments
• Assisting in the various audits with internal and external auditors
• Assist in managing and completing multiple processes within tight deadlines while responding to various requests from many parties
• Participate in various training classes for Operations or cross functional groups - such as accounting for complex deal structures, record keeping within certain systems, and/or the rolling out of new or changes to existing processes
• The  Associate Manager  will also be called upon to assist in special projects related to systems implementation that involve property/portfolio data, establishment of new or redesigned portfolios, and major Enterprise initiatives. 

• Bachelor’s degree in Accounting is required
• 3-5 years of real estate fund accounting experience required 
• 3-5 years of financial statement preparation and review experience preferred 
• Experience working on financial audits preferred
• Knowledge of taxation for partnership and corporations preferred
• Working knowledge in General Ledger accounting and reporting systems required
• MRI experience a plus
• Working knowledge of joint venture waterfall and income calculations required
• Resolve or other automated systems experience a plus 
• Public accounting experience and/or CPA a plus
• Solid understanding of generally accepted accounting principles as it relates to fair market value of real estate and/or related investments.
• Understanding of data validation and flow as it relates to the set-up/maintenance of multiple set of books as well as their down streams effect on other reporting systems 
• Overtime is expected and required during quarterly peak reporting period

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, sex, disability status, protected veteran status, or any other characteristic protected by law.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at staffingagencies@prudential.com for more information about doing business with Prudential.

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