Associate Manager, Accounting Job Listing at Prudential in Madison, NJ (Job ID PRE0009N)

Insurance, Finance

Associate Manager, Investment Operations
Prudential Real Estate Investors
August 2012
 
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, Rio de Janeiro, Sao Paolo, 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 March 31, 2012, PREI managed over $51.3 billion in gross real estate assets ($33.4 billion net) on behalf of over 480 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 large open-ended portfolio;


• 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;


• Participate in interactions with PREI Finance group in implementing new accounting policies;


• Assisting in the various audits with internal and external auditors

.

• 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. 

Qualifications:
The candidate should have a solid understanding of generally accepted accounting principles as it relates to fair market value of real estate, and/or related investments, especially REIT owned assets. The candidate must have a good understanding of data validation and flow as it relates to the set-up/maintenance of multiple sets of books as well as their down streams effect on other reporting systems. Additionally, the candidate is required to assist in managing and completing multiple processes within tight deadlines while responding to various requests from many parties. 
 
Other Qualifications:

• 4 year undergraduate degree in Accounting is required.
• 3-5 years of financial statement preparation and review experience required
• 3-5 years of real estate fund accounting experience required
• Audit experience required
• Knowledge of taxation for partnership and corporations required
• 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
• Statutory accounting knowledge a plus
• Knowledge of REIT structures and compliance tests a plus
• Knowledge of performance return calculations and GIPS a plus
• Proficient in Excel
• Strong leadership and development skills
• Strong analytical, organizational and problem solving skills
• Ability to work in a fast pace organization with tight deadlines
• Strong interpersonal, communication and partnering skills

 
Any applicant selected for this position will be required to submit to an extensive background screening and a credit check. Failure to comply will eliminate an applicant from consideration for this position. Any negative information obtained as a result of the background screening may result in the disqualification of the applicant from this and any other position in Prudential.
 
All candidates must be authorized to work in the United States.  Prudential is an Equal Opportunity/Affirmative Action Employer and is committed to diversity in its workforce.