Assistant Controller Job Description
Assistant Controller
General Summary: The Assistant Controller is responsible for managing, reviewing and overseeing the accounting and reporting for 5+ investment partnerships and/or co-investment partnerships, including monitoring related investments.
Essential Duties and Responsibilities:
Reporting
- Monthly partnership reporting
- Investment operation review
- Quarterly financial reporting
- Investor reporting
Managing the processes for
- Capital calls
- Capital distributions
- Investment and asset management fees
- Return calculations (AIMR and IRR)
- Approval of wires
Investment Responsibilities
- Accounting approval of funding investments to include obtaining the executed GP Consent and draft documents (if final documents are unavailable) of the transaction
- Establishment of required bank accounts
- Proper set-up of the investment in the accounting system
- Review documentation on the investment, prepare a summary memorandum of the investment focusing on accounting concerns such as structure, asset management fees, expense sharing (including due diligence costs), cash contributions and distributions; reporting requirements, and accounting issues.
- Review each investment with Investment Accountants identifying what needs to be monitored and their responsibilities
- Verify distributions splits with joint venture partners, if any
- Monitor and follow-up on operating results and projected cash flows
- Direct and review the accounting entries for the investment disposition, and entity dissolution, including any accounting issues and coordination with the appropriate tax personal
- Liaison with management for monitoring any contingencies which need to be reserved
Experience Required
- Bachelor’s degree in Accounting
- Certified Public Accountant-including keeping abreast of current accounting pronouncements
- 7-10 years of accounting experience, including public accounting
- Technical skills and experience in financial reporting, consolidation accounting and foreign currency accounting
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