AVP, Portfolio Accounting & Reporting - Luxembourg Office

Luxembourg
Portfolio Accounting & Reporting – International /
Full-Time /
On-site
Harrison Street (HS) is a privately-owned investment management firm that launched its first investment vehicle in 2005.  Since that time, the firm has grown into a market leader in the alternative real estate sectors through its offering of opportunistic and core funds as well as separate accounts dedicated to targeted strategies.  The firm currently manages over US$55 billion in assets across the US, Canada, and Europe, through both its closed-end Opportunistic Funds and its open-end Core products. Harrison Street’s investment strategy is focused on alternative real estate sectors (including senior housing, student accommodation, life sciences, storage, data centres, and healthcare properties) as well as social infrastructure. 
 
As an extension of Harrison Street’s activities in the US, the firm launched its European platform in 2015.  In Europe, HS is currently investing out of its fourth European Opportunistic Fund, which is focused on the life sciences, student accommodation, and specialty residential sectors.  To date, HS has invested in over €5.0 billion of assets in Europe across France, Germany, Ireland, Spain, and the U.K., and will expand to other European geographies over time.

The Role:

    • Harrison Street opened an office in Luxembourg in April 2023 and is now looking to recruit an Assistant Vice President, reporting directly into the Vice President of Fund Accounting.  The duties and responsibilities of the AVP role include (but are not limited to):

Fund Accounting and Oversight:

    • Responsible for coordinating the Funds’ quarterly consolidation, including but not limited to:
    •    Effectively communicating with third-party administrators to ensure accurate and timely reporting.
    •    Performing a detailed review of fund-level deliverables prepared by the third-party administrators, including but not limited to trial balances, accruals, schedule of investments, fair value adjustments, and waterfall models. 
    •    Preparing the consolidation entries for the historical funds
    • Prepare and or provide initial review of the quarterly financial statements, which are reported under IFRS.
    • Review and approve monthly/quarterly property level reporting packages completed by joint venture partners. Coordinate with the joint venture partners to obtain investment-level financial information on a fair value basis of accounting.
    • Review and approve acquisition and disposition entries completed by joint venture partners and administrators
    • Review and approve all cash and accrual journal entries prepared by the administrator
    • Review bank reconciliations prepared by the administrator.
    • Coordinate the approval and payment of all fund level expenses and investments
    • Assist in the capital call and distribution process, working closely with the Portfolio Management team for Fund cash analyses and projections to determine cash needs or cash availability for distribution.
    • Facilitate the preparation and provide initial review of investor deliverables such as capital calls, distribution notices and investor capital account statements.  
    • Coordination of cross functional deliverables with Portfolio Management and Investor Relations.
    • Provide initial review for annual budget.
    • Prepare quarterly budget to actual fund level variance analysis. 
    • Review and approve draw support and loan compliance for fund level debt.
    • Prepare the quarterly calculation of fund level asset management fees.
    • Review and maintain JV waterfall calculations for all joint ventures within the funds.
    • Manage the property level audits with joint venture partners and independent auditors.
    • Work closely with HSRE Tax to ensure the timely submission of periodic tax filings and payments.
    • Work directly with independent auditors to coordinate completion of annual fund and entity level audits.
    • Prepare the required analysis and review the third-party deliverables for transaction due diligence
    • Ability to navigate and gain an understanding of complex transactions and structuring
    • Assessing current accounting operations, offering recommendations for improvement, and implementing new processes, both with the fund administrator and internally
    • Build an effective working relationship with existing joint venture partners and onboard new joint venture partners. 

General Characteristics:

    • Strong interpersonal skills
    • Entrepreneurial mentality, strong desire to contribute to the growth of a world class firm
    • High level of attention to detail and sense of ownership
    • Creative problem-solver with an open-mind
    • Hands-on team player
    • Self-starter with strong interpersonal, teamwork, and partnering skills

Qualifications/Requirements:

    • Proven experience in a similar position
    • Bachelor's degree in Accounting and/or Finance
    • 4-7+ years of progressive work experience in a big four accounting firm and/or the real estate industry
    • Strong technical knowledge
    • Proficient with Microsoft Office products, accounting research, and data analytic tools, experience with Yardi preferred but not essential
    • Demonstrated knowledge and ability to research and document new accounting guidance and the accounting treatment of complex, significant and/or unusual transactions
    • Effective writing, presentation, and communication skills
    • Fluency in both written and spoken English
Due to the large volume of responses we receive, we regret that we cannot reply to each application individually. If you haven't heard from us within 4 weeks of applying, it means your application has not been selected for this opportunity.