Vice President, Fund Controller

Over the last 20 years, Ares’ success has been driven by our people and our culture. Today, our team is guided by our core values – Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy – and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry.

Job Description

Ares Management is currently seeking a an experienced and detail-oriented Vice President to join the Finance and Accounting team in Los Angeles as part of the firm’s Real Estate group.  The Real Estate Fund Accounting team consists of 25+ team members globally and is responsible for accounting, reporting, performance and operations of the group.  The team oversees and manages $XX BN of AUM.

The Vice President will work closely with the global F&A team in partnering across our enterprise with portfolio management, investor relations, senior investment professionals, senior Finance leadership, tax preparers and external Fund Administrator.  They will manage day-to-day Fund Accounting with respect to financial reporting, quarterly reporting, and tax reporting.  The ideal candidate will possess public and private experience alongside strong leadership and business stakeholder relationship skills.  This candidate will be expected to understand complex fund structures, waterfalls, track record, attribution, and gross to net return differences.  This role will require a dynamic, adaptive, and agile hands-on professional who will be capable of ensuring optimal performance and processes in a fast-paced rapidly growing environment.

Primary functions and essential responsibilities

Specific responsibilities include, but are not limited to:

Financial Reporting and Management

• Instruct and oversee fund service providers (administrators, depositaries) to ensure performance is in line with agreed service levels
• Liaise with a wide range of internal stakeholders and external service providers to ensure the quality and timely flow of financial data
• Oversee calculation of property performance, AUM, NAV, management fees, promote allocations (fund level waterfalls) and cost recharges
• Manage preparation of financial statements, investor reports, partner capital statements, presentations, questionnaires and head office management reports
• Provide deal support, including financial analysis and execution of deal cashflows
• Monitor cash and manage cash distribution process
• Allocate and review costs and expense recharges
• Manage audit and tax reporting processes
• Participate in any new Fund launches
• Help maintain manager Fund track record
• Maintain Fund dashboard
• Review capital call and distribution notices and cash allocation schedules
• Participate on DDQ and presentations for fundraising
• Manager team to implement technology that helps automate processes for better efficiency, accuracy and consistency

Portfolio Management

• Contribute to the valuation process, calculation of gross to net adjustments and preparation of valuation committee materials (including JV level waterfalls). General understanding of real estate valuations.
• Lead F&A oriented data for investment decision process by maintaining fund models, proving scenario/sensitivity analysis, key property and financial metrics and KPIs
• Manage budgeting and forecasting process with calculation of management fees and promote
• Lead risk management processes with qualitative and quantitative fund data

Treasury

• Instruct and oversee cash management, including oversight of fund reserves and cash requirements
• Manage fund level debt facilities (drawdowns, repayments, covenants, extensions)
• The individual will be expected to build strong working relationships across the Real Estate operation (deal team, service providers) and the wider Ares business. Performance Measurement:
  • Calculate, monitor, evaluate, and analyze investment, sector, portfolio level and composite returns (TWR, IRR, Multiples, etc.)
  • Aggregation, analysis and management of portfolio and investment return data on a levered, unlevered, gross basis, net basis, actual and projected data
  • Calculate and interpret attribution results, performance-based risk and appraisal metrics
  • Ensure proper consideration is given to required FX conversion for funds and investments having local/functional currencies other than USD.

Strategic Projects

• Lead planning and executing strategic projects such as onboarding assets from acquisitions, performance system development, and integrating non-supported business units.
• Lead and assist with projects that facilitate improvements across the REG
• Develop innovative solutions to increase efficiency and enhance reporting and analytical capabilities of the team.
• Drive consistency and standardization across the respective business strategies within Real Estate
• Contribute expertise to team and organizational efforts in relation to systems and internal processes
• Work directly with equity deal team for the collection and aggregation of deal level models and returns
• Participate in other projects as requested by management

Qualifications

Education:

• Bachelor’s Degree required
• Licensed CPA (active of inactive) preferred

Experience Required:  

• Minimum of 7-10 years of experience in Fund Accounting or a related field with an understanding of Real Estate fund structures, investment property structures, and alternative investments.  Public and private experience a plus.
• Strong understanding of Accounting principles and public company financial statements (income statements & balance sheets).
• Exposure in complex tax structured funds or diversified RE investment structures will be an added advantage.
• Technically proficient with all MS Office applications, advanced Excel skills strongly preferred
• Knowledge of Power BI or other data analytical/visualization tools preferred

General Requirements:

• Ability to work independently in a fast-paced, high growth environment.
• Dependable, great attitude, highly motivated, team player and strong work ethic.
• Ability to assist in managing several third party relationships.
• Strong understanding of business and accounting principles (US GAAP), including consolidation reporting/elimination entries.
• Excellent verbal and written skills; ability to analyze and summarize complex information both verbally and in writing.
• Strong problem-solving and analytical skills.
• Excellent Excel skills (to build models, templates, building macros/pivot tables).
• Ability to multi-task and prioritize/manage deadlines.
• Ability to manage challenging workflow in-fast paced, dynamic organization, managing multiple assignments in a deadline driven environment
• Strong sense of ownership and accountability
• Organizational skills, demonstrated ability to manage competing priorities and lead large scale projects to completion
• High accuracy and detail orientation
• Excellent communication (written, verbal, presentation, documentation) and client service skills; capability of interacting with key stakeholders to direct prioritization of program related activity
• Ability to analyze and summarize complex information clearly, both verbally and in writing
• Experience and ability to proactively and continuously identify and analyze problem situations to develop an effective and improve course of action for resolution
• Ability to be flexible in terms of hours in order to coordinate with team members across time zones

Reporting Relationships

Compensation

$180,000 - $220,000

There is no set deadline to apply for this job opportunity. Applications will be accepted on an ongoing basis until the search is no longer active.