[Hiring] AVP - Fund Management @Berkadia

Role Description

The AVP - Fund Management (“AVP, FM”) is responsible for the financial modeling, analytics, and due diligence process in closing MultiFunds, Club Funds, and Proprietary Fund transactions, as well as the post-close management and reporting duties through stabilization of the underlying properties.

In this role you will:

• Manage quarterly Fund financial statements and assist with the preparation and review of monthly Corporate financial statements, maintaining related workbooks and schedules.
• Manage cash and GAAP journal entries, including accruals, and process wires, ACHs, and check runs.
• Coordinate and manage Fund audits, tax returns, and K-1 preparations, while supporting Corporate audit and tax return processes as needed.
• Create and maintain financial models, assist with financial planning and analysis, and collaborate with internal teams on accounting and tax-related matters.
• Review Fund and Partnership operating agreements, record transactions, and monitor capital contributions received from investors and paid to Partnerships, ensuring all capital accounts are up to date.
• Manage investor due diligence workflow and Upper Tier closings.
• Prepare qualitative risk assessment and quantitative valuation for internal discussion.
• Together with VP, FM: Maintain and update master templates for Lower Tier / Upper Tier modeling.
• Support Acquisitions and Underwriting by providing tax expertise, model training, and transaction-specific modifications to Lower Tier models.
• Train and review the work of junior staff, providing guidance and oversight.
• Manage investor capital to be called, based on Fund cash balances and updated project-level equity schedules.
• Analyze investor tax-basis and 704(b) basis capital account projections through the LIHTC compliance period, identifying potential risks to investor IRR and providing recommendations.
• Perform quarterly and annual updates to pre-stabilized Fund models based on actual tax returns, and review tax returns for pre-stabilized Funds, analyzing material variances and updating investor benefit schedules.
• Manage quarterly reporting obligations and conduct annual analyses of Fund reserves and sustainability.
• Calculate annual Fund cash waterfalls, process upper-tier asset management fees and overhead reimbursements, and model complex transactions, including multi/club structures, bridge lending, and special allocations.
• Coordinate Lower Tier tax return preparation memos and ensure adherence, while planning, hosting, and recording Lower Tier model training sessions.
• Annual review and revision of Upper Tier Policies and Procedures.
• Provide weekly updates to VP, FM.

Qualifications

• Experience in fund/partnership accounting and tax preparation, with LIHTC experience highly desirable; CPA designation preferred.
• Strong quantitative and analytical skills, with proficiency in financial modeling and Microsoft Office applications.
• High attention to detail and accuracy, with the ability to manage complex financial data effectively.
• Excellent communication skills, both written and verbal, to convey information clearly and professionally.
• Master's degree preferred.
• 5+ years of experience in a similar position.

Benefits

• Monthly paid volunteer hours and donation matching to benefit our communities.
• Employee Resource Groups that help you grow with us.
• Fertility and family planning services.
• Up to 12 weeks of fully paid parental leave.
• Mental health care, including free counseling sessions.
• Generous tuition reimbursement to fund your learning journey.
• Pet insurance discounts.
• And more!