Careers at L+M

LMFM – Junior Fund Accountant

Accounting

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Salary Range: $65,000.00 to $85,000.00 Annually

L+M Development Partners (LMDP), an established residential developer/builder, has an excellent opportunity for a Junior Fund Accountant to join the growing Fund Accounting team. The Junior Fund Accountant will support investment vehicles managed by LMDP and its affiliates, including L+M Fund Management (“LMFM”), and will be responsible for the financial accounting and investment reporting for a selection of investments and affiliated entities.  Responsibilities will include recording of accounting activities, processing of vendor payments and capital transactions, ensuring accuracy and timeliness of all data provided to stakeholders, and working efficiently and effectively within tight deadlines to provide best-in-class client service.

LMDP is a full-service real estate development firm which develops, invests, constructs and manages properties with industry-leading innovation. LMDP and its affiliate companies are responsible for over $10 billion in development and investment and have acquired, built, or preserved nearly 40,000 high-quality residential units in a variety of urban markets nationwide, primarily in New York’s tristate area.

LMFM, an affiliate of LMDP, invests in and operates workforce and affordable assets on behalf of institutional investors and, to date, has acquired nearly 20,000 units and $4.1 billion in transactions.  LMFM utilizes institutional third-party equity and to date has raised more than $1 billion of total equity across multiple investment vehicles.

Areas of Responsibility & Job Requirements:

  • Oversee preparation of and review of financial statements, capital account statements, and all related supporting schedules for a selection of accounts including all investment types, consolidations, and complex structures
  • Ensure accuracy, consistency, and timeliness of all financial reporting, including the review and consolidation of property-level financial statements
  • Support fund management and cash management working with internal management on capital calls and distributions at the fund level and at the parent company
  • Analyze and reconcile all key accounts, and investigate significant variances from expected amounts
  • Prepare cash projections and assist with preparation of annual projections and budgeting
  • Assist auditors with annual audit and tax processes
  • Prepare materials to report financials to key stakeholder of each fund and the parent company, and provide accurate, timely and professional service to internal and external clients (investors)
  • Evaluate and analyze deal documents and historical data to create all requisite entities, commitments, historical capital entries, and waterfall & fee calculators
  • Assist in creating and maintaining systemwide accounting rule sets, transaction types, account types and other attributes needed to utilize the Yardi system effectively
  • Assist in creating and maintaining standard operating procedures and process flows for the team
  • Record and monitor accounting activities, including, but not limited to, A/P, A/R, revenues, vendor payments and adjusting entries
  • Process vendor payments and interface with internal business teams to accurately charge and code invoices to proper General Ledger accounts

Additional Job Skills & Abilities

  • Proficiency with investment accounting, including processes, controls, and systems
  • Ability to use Yardi Investment Accounting and Investment Manager software systems
  • Experience with partnership accounting and partnership agreements as well as waterfall calculations preferred
  • Professional individual with ability to perform independently as well as part of a team
  • Must have excellent communication skills, both written and verbal as well as management and organizational skills
  • Strong work ethic
  • Willingness to embrace complexity and thrive on new challenges
  • High level of attention to detail

Education Requirements

  • Bachelor’s degree required

Years of Industry Experience Required:

  • 2+ years of related experience

At L+M Development Partners, working together to build stronger communities is our mission. Our double bottom line philosophy means that we measure success not only in financial returns but also by the positive impacts we make in the communities we serve.

Founded in 1984, L+M is a full-service real estate development firm which develops, invests, constructs and manages properties with industry-leading innovation.  Ranked in the Top 25 on Affordable Housing Finance’s Top 50 Developers list nationally, L+M and its affiliate companies are responsible for over $10 billion in development and investment and have acquired, built, or preserved nearly 40,000 high-quality residential units in a variety of urban markets nationwide, primarily in New York’s tristate area.

Please visit our website for more information: https://lmdevpartners.com.  To learn more about our mission and values, go to https://lmdevpartners.com/our-mission-values/.

L+M offers competitive compensation and benefits and tremendous potential with a growing residential real estate developer/builder organization.

L+M is an equal opportunity employer.  All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

Disclaimer: Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this position at any time.

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