Controller Opportunity
Capstone Advisors is looking for a Controller to join our team. Located in our beautiful office in Carlsbad, CA, this position requires an energized collaborator who is looking for a diverse and challenging work environment.
Is this the job for you?
Our ideal candidate needs to be a strong multitasker with extensive property accounting experience. Our business strategy will keep you engaged and motivated in our varied commercial endeavors, which includes retail centers, industrial complexes, office buildings and land for future commercial and residential development. Capstone utilizes third-party Property Management companies to service the commercial properties and prepare the monthly financial statement reporting. This position entails review and oversight of the assigned properties, plus financial accounting for the corporate entities and the hierarchy of investment-level partnerships that control the operating properties.
Essential details of this position:
- Review accounting and financial statement reports for 80+ entities, including operating properties and investment-level entities.
- Prepare period-end reports for assigned entities.
- Ensure that all steps on the month-end closing checklist are being completed for all property reports.
- Advise and train third-party property management companies on our accounting requirements and processes.
- Create and maintain schedules to support current asset and current liability balances like Prepaid Insurance, Prepaid Taxes, and Accrued Expenses.
- Update depreciation and amortization schedules on a quarterly basis.
- Maintain preferred return schedules by entering capital contributions and distributions, then tying out the balances to those respective equity account balances.
- Complete online banking transfers.
- Input wire transfers.
- Enter and post journal entries. Attach the relevant support documentation in Yardi.
- Prepare general ledger account reconciliations.
- Assist in preparing annual budgets and monthly budget-to-actual variance analysis.
- Compile and submit commercial loan escrow draws.
- Respond to lenders' requests for financial statements, rent rolls, certifications, etc. on a quarterly and annual basis, to comply with loan covenants.
- Complete bank reconciliations.
- Calculate and process asset management fees, construction management fees, supervisory fees, and leasing commissions.
- Monitor property tax payments to ensure all parcels are paid in advance of the due date.
- Enter and post intercompany transactions; reconcile intercompany accounts.
- Review assigned CAM reconciliations.
- Process and file 1099s/1096s annually.
- Prepare and submit filings to the Secretary of State and other State agencies.
- Semi-monthly payroll processing.
- Onboard new hires; process employee final checks.
- Demonstrate leadership and offer guidance to the team members.
- Additional ad hoc projects as assigned.
What we are looking for in a candidate:
- Strong communicator, both written and verbal.
- A positive team player able to work within a small-team environment to achieve results.
- Dedicated work ethic that is in alignment with Capstone's Core Values (see below).
- Adept at accounting research.
- Attention to detail.
- A track record of delivering consistent, accurate, and reliable work.
- The ability to troubleshoot and figure things out is essential to this role.
- Experience overseeing treasury activities.
- Experience independently completing commercial real estate transaction closings, including prorations, reconciliation, closing statements, etc.
- Comprehensive knowledge of cash and accrual accounting and GAAP.
- Comprehensive understanding of investment structures (LLCs and LPs), including calculating capital calls, periodic returns, and waterfalls.
- Experience and understanding of commercial loan documents and managing compliance.
- Knowledge and experience managing full-cycle accounting (inclusive of AP & AR) for real estate business entities.
- Experience overseeing/reviewing budgets, financial statements being prepared by third party property management companies to ensure compliance with company accounting policies and procedures.
- Yardi software experience, highly desired.
- Minimum of 5 years' experience working in a real estate operating/development company or third-party property management company with increasing roles/responsibilities: Senior Accountant, Audit Manager, Accounting Manager, Assistant Controller, or Controller.
- Business Administration, Accounting, Finance, and/or Economics degree required.
- MBA, CPA, and/or public accounting experience preferred.
- Willingness to learn new tasks to assist the team.
Our Culture and Core Values:
Our culture is especially important to us, and its foundation is our Core Values. We spend considerable time and effort to ensure these values are at the forefront of how we operate. Our Core Values consist of:
- We strive for successful outcomes through detailed planning and thoughtful execution. We analyze and learn from prior efforts.
- We are open-minded to change and strive for constant improvement.
- We value meaningful work, we recognize contributions, embrace growth and value balance.
- We empower team members and seek feedback. We value open communication and clear goal setting.
- We work as a team knowing that collaboration leads to better decision making.
- We are fair, honest, and accountable. Always.
If this role at Capstone is of interest to you, please send a cover letter and resume to Tambra Wayne at . We look forward to hearing from you.
For more information about Capstone Advisors, visit .
Job Type: Full Time position working 5 days in the office.
Location: Carlsbad, CA
Industry: Real Estate
- Salary Range: $130,000 - $150,000, plus a discretionary end-of-year performance bonus.