Cfo/Controller

Employment Type

: Full-Time

Industry

: Miscellaneous



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Our CompanyRiaz Capital is a fully integrated development, construction and property management company, focused on addressing the changing housing needs of the millennial generation. Our latest projects are aimed at creating affordable and conveniently located housing for young professionals in the East Bay through ground-up development projects. The Bay Area's tremendous growth has resulted in skyrocketing housing costs forcing young professionals to make hard choices about privacy and savings to find a reasonable housing option to call home. On average, Bay Area millennials are spending 48% of their income on housing versus a national average of 25%. As a result, Riaz Capital has launched a number of new projects around a workforce housing strategy focused on providing the missing middle demographic rental homes that are comfortable, cool, and most importantly, work with their financial goals. We raised a $35M fund in 2018, that we are pairing with a larger fund raised in 2019 to implement this affordable-by-design concept throughout the East Bay, with a Company goal of creating over $1B in assets under management by 2025. We are seeking motivated, forward-thinking professionals to join our team in solving this important housing problem. The Riaz Capital team includes over 95 talented real estate investment, construction and operations professionals in Oakland. Our Principals have been successfully operating in the Bay Area since 1977. The Company currently owns and operates~1,100 units, with $300 Million of Assets Under Management. Riaz Capital has maintained consistent growth over the last 5+ years, and after the completion of 3 development projects currently in process, that number will increase to~1,400 units with~$400 Million AUM by end of 2019. Our integrated group of companies across development, construction, and property management deliver efficiency and long-term thinking to all our projects while allowing us to create above-market returns for our investors. CFO/ControllerThe Controller position is an ideal opportunity for an accounting and finance professional to take over and manage all facets of finance and accounting operations for a fast-growing real estate investment company, who could eventually grow into the CFO. This position is responsible for managing all the personnel of the accounting team and will report to the CEO, while work closely with the CIO and the CPO. In addition, this candidate must demonstrate strong communication skills to work as one of the leaders of the company, overseeing all financial matters of a portfolio with an expected value of approximately ~$400 Million in assets by the fall of 2019, and $1B in assets under management by 2025. This person will play a pivotal role in the growth of the company and come into the company at an exciting point in the Company’s trajectory. This person will play a leadership role by leading the accounting department and championing process improvements in other departments that were identified while performing financial reviews. This person motivates, develops, and creates a departmental culture and vision, taking full responsibility for the success or failure of the department. Primary Job Duties Financial and Investor reporting:Responsible for ensuring the timely preparation of monthly/quarterly/annual financial statements for internal and external parties.Provides recommendations to the operations team on how to improve based on the financial analysisSupervises the month end property managers and Construction Managers variances to budget analyses, and ensures accounting team performs in accordance with procedures and processes in place. Coordination of monthly/quarterly/annual asset management reports that include investor and loan reportingTreasury Management:Monitors working capital levels and trends among company assets and operating companies, and advises management on mitigating cash managements risks Develops and maintains processes connecting the development projects to the management company and advises on associated balance sheet risk and ensures that the company maintains healthy acid test ratiosManages AP and AR activities while constantly looking for improving automation and reducing the amount of errors on any frond end operationsControls all company spending to ensure reasonableness and validity of the expensesSupports Asset Management team on any investment related decisionsMaintains excellent relationships with bank or lender representatives Compliance:Ensures that all entities are fully complied with monthly, quarterly and annual lender/state/federal reporting requirements Manage bank loans with team by ensuring proper coordination with lenders, draw requests, and interest accrual calculations. Review and submit various monthly and quarterly local and state taxes for each property and entity within designated deadlinesManages corporate and property related insurance programsReads and understands construction contracts, escrow statements, construction budgets and draws and the related terms, and ensures complianceEnsures that any compliance related risks are identified, mitigated, and addressed Manages Payroll cycle among all Company entitiesWork with third party accountants in preparation of the tax returns and work with senior accountants in optimizing tax affects.Financial Planning and Analysis:Coordinates annual budgeting process across individual properties, holding and operating companies’ budgetsPerforms ad hoc financial/data analysis Cash flow analysis to ensure projects are sufficiently capitalized to meet construction timelines Policy/Process Formation and Continuous improvement:Creates and enhances financial policies and procedures across the finance and accounting department that set for the achievement of the business’s overall goals and objectives. Coordinate and supervise the planning and installation of any accounting system conversions, updates or modificationsLeadership/Supervisory:Works closely with HR department to maintain and improve employee retention, learning and developmentResponsible for building talent across the accounting department and supports continuous improvement initiatives across the finance departmentQualifications An ideal candidate will be a well-rounded executive with 6-8 years related experience, with extended tenure in each position, preferably in large real estate and full-scale development environments. Such candidate will have a demonstrated ability to solve problems, manage people, and devise systems to control a large book of business through the following key characteristics and qualities:Bachelor’s Degree in Accounting, Finance, Economics, or similar is preferred; advanced degrees (e.g.: Master’s in Accounting) is a plus. U.S. CPA required, “Big 4” experience preferred but not essentialHands-on work style, attention to detail, and ability to deliver work that is complete, technically accurate, and on time.Confidence and assertiveness to enforce controls and effect change in a team-oriented manner, while maintaining good relationships with a diverse groupOperates with a “healthy skepticism” coupled with unassailable integrityDeep experience with and understanding of day to day financial controlsExperience with Excel, Microsoft suite, Yardi and QuickBooks softwarePractical general understanding of the “on the ground” issues, terminology, and activities associated with development, construction and property management in order to garner the full respect and cooperation of the real estate group.Experience in developing and managing teams. We offer a competitive salary and benefits. Please submit a cover letter, resume, and salary requirements with your application.Riaz Capital is an equal opportunity employer and values diversity in the workplace. Salary: Commensurate with experienceStatus: Full-timeStart Date: ImmediatelyLocation: Oakland Office

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