Senior Vice President of Accounting

Description:
GK Development, Inc. is a privately-held commercial real estate firm based in Barrington, Illinois. GK Development acquires, develops, owns and operates a diversified portfolio of commercial and retail property across the United States, primarily value-added regional malls and other retail investments.

Position: The Senior Vice President of Accounting will be a seasoned leader with at least 7-10 years of finance experience in commercial and real estate. The Senior Vice President of Accounting will be responsible for accounting, finance, and reporting for GKD’s real estate investments through various entities including real estate investment funds, JV’s and individual LLC’s.

Key Responsibilities:
Forecasting and Cash Management

• Manage cash for funds and properties to insure adequate capital is available to meet various needs.
• Manage and minimize interest rate risk for various properties.
• Model cash flow forecasts at the property and fund level.
• Assist management in investment analysis for lease transactions.
• Assist in investment analysis for purchase and sale transactions.
• Develop multi-year business plan to assist management planning.
• Oversee preparation of annual property and fund level budgets.
• Assist in designing new funds for future growth.
• Understand capital requirements for projects and interface with internal real estate team.
• Assist in developing and managing capital structures for Funds and properties.

Reporting, Communication and System Management

• Hire and direct outside accounting firms to prepare audits and reviews of annual financial statements.
• Manage preparation of quarterly and annual reports for Real Estate Funds.
• Produce monthly management reports.
• Oversee fund and company financial statements.
• Perform all required lender reporting for various properties.
• Manage and perform ongoing maintenance of investor communication systems and their databases.
• To the extent that it is required participate in investor update calls.

Accounting

• Hands on management of the accounting department staff, including selection, training and development.
• Responsible for all tax and financial accounting for the company, funds, properties and partners.
• Maintain and manage members’ Partnership Accounts.
• Source, implement and manage account system software.
• Review annual tenant expense settlements to maximize recovery.
• Taxation
• Maximize favorable tax treatments for income and capital transactions.
• Manage tax structuring of deals for real estate transactions including 1031 exchanges and partnership swaps.
• Monitor property tax assessments and file protests as needed.
• Assist accountants and property management in tenant CAM audits.

Compliance, Controls and Systems

• Implement and manage control procedures for GAAP compliance.
• Manage Partnership distributions and operating agreement requirements.
• Manage proprietary Real Estate Fund investor relations and operating agreement requirements.
• Manage company record storage and retention for compliance.
• Monitor accounts receivable and collections.
• Manage property, casualty and liability insurance for properties and company.
• Interpret, analyze and recommend improvements to systems and financial performance.

Requirements:

• CPA or CFA required.
• Bachelor degree minimum, MBA preferred.
• History of strong performance in structuring, negotiating and executing financial transactions.
• 7 to 10+ years prior financial experience in commercial and retail real estate.
• Strong experience in REIT accounting, Regulation D private fund offerings and/or non-traded REIT’s.
• Familiarity with FINRA and SEC compliance requirements as they relate to real estate fund investments and offerings.
• Demonstrated track record of hands on financial management.
• Thorough knowledge of IT systems and software.
• Excellent verbal and written communication skills.

Personal Attributes:

• Strong network of industry relationships.
• Proven ability to develop and manage staff.
• Meticulous attention to detail and accuracy.
• Team oriented but able to work independently.
• Proven leadership and management skills.
• High level of integrity and dependability with a strong sense of urgency and results orientation.
• Strong interpersonal skills, including the ability to communicate and manage well at all levels of the organization.