AVP, Accounting - Hospitality Industry Chicago, IL (WFH 3-4 days/week, in the office in the loop 1-2 days/week)
Summary This position oversees all activities related to supervising and managing the hospitality investments for a Private Equity firm. The role is responsible for overseeing a team for preparing, analyzing and reporting on the financial and operating results of the hospitality investments at the asset level, investment level and a consolidated level. You should be knowledgeable about real estate principles (GAAP, SEC).
What you'll be doing
Manages and oversees the daily operations of Hospitality Investment Reporting including overseeing and reviewing the month-end, quarter-end and year-end close processes such as account reconciliations, prior period adjustments and monthly journal entries, bank reconciliations, etc. to ensure accuracy and completeness.
Directly supervises the following positions: Senior Accountants, Accountants, Associates and Interns
Reviews and analyzes accounting data and produces Monthly Operating Reports such as P&L's, Balance Sheets, Budgets and Forecasts at the individual asset level and the consolidated portfolio level for the hospitality assets (BRE Hotels)
Reviews monthly portfolio forecasts and individual forecasts in conjunction with the BRE Hotels FPA team and/or BX asset manager
Reviews and loads the portfolio annual budgets and individual property budgets to X in conjunction with the BRE Hotels FP&A team and/or BX asset manager
Provides variance reporting to assess property performance relative to budgets or forecast
Leads onboarding and wind down efforts of acquisitions, dispositions and change of operators
Instrumental in the preparation of certain due diligence reports for potential dispositions or acquisitions
Conducts on site visits as necessary when onboarding or disposing a property
Reviews all capex draw requests and debt yield calculations prior to distribution to the lender
Reviews projects assigned to staff to ensure compliance, reporting accuracy and timeliness such as the debt reporting and the FF&E Draw submission
Serves as liaison with property operators and establishes meeting cadence to discuss important and timely topics
Ensures all hospitality property invoices paid at the corporate level are processed and paid timely
Enforces proper accounting methods, policies and principles
Provides recommendations to improve systems and procedures and initiate corrective actions
Ensures direct reports are handling processes in a like and efficient manner
Constructs reliable cash models to project an asset's future performance
Establishes and maintains fiscal files and records to document transactions
Assists in the preparation and review results of annual audit findings
Assists with developing and documenting business processes and accounting policies to maintain and strengthen internal controls
Interacts with internal staff, (such as Insurance, Tax and Treasury) and external service providers to complete assigned responsibilities
Incorporates anticipated demand, driven by company initiatives and business conditions to ensure required capacity and skills will be available in the future
Assesses and reacts to changing business conditions, in terms of their impact the organization they lead
Ensures team's processes and procedures support the department's goals according to guidelines and policies
Partners with senior managers to identify and drive external relationships with the team's key contacts and stakeholders including third party accounting departments and third-party operators accounting teams
Assists other PC's during Project initiatives on an as-needed basis
Required:
Bachelor's Degree with a major in Finance, Accounting or closely related field
7+ years of experience in cost accounting, financial analysis and general accounting
5+ years managing accounting for a hospitality company
Ideally experience in the Hotel Industry
Ideally Food & Beverage experience
2+ years of experience managing direct reports
Preferred:
Master's Degree
CPA certification
Seniority level
Entry level
Employment type
Full-time
Job function
Finance and Sales
Industries
IT Services and IT Consulting
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