Controller

JOB SUMMARY 

The Controller oversees all accounting functions and operations for all asset, fund and corporate level entities. Responsible for supervising the daily activity and reviewing the work product of a 12+ member Accounting team and for developing, implementing, and monitoring effective policies and procedures to ensure high quality and efficient accounting and reporting. 

ABOUT THE COMPANY 

SoLa Impact is a vertically integrated real estate private equity firm with a double bottom line strategy focused on preserving, refreshing, and creating high-quality affordable housing in low-income communities. We were awarded the PREA Emerging Manager ESG Award for 2022. We are a Los Angeles based real estate private equity and social impact fund that focuses on acquiring, developing, and renovating properties in Los Angeles and we have acquired 1500+ apartments and are in progress on an additional 1,500 ground up residential units. The Fund focuses on providing quality housing in historically depressed markets and revitalization of urban neighborhoods. We are getting ready to close our fourth fund, The Black Impact Fund, with ~$300 million by mid-2022. We offer a fast growing, fast paced environment which is intellectually challenging, yet extremely rewarding and fulfilling due to the social mission that we fulfill. 

Requirements

• Manage cash and coordinate with bankers, including maintenance of all bank accounts, and oversight of cash flow modeling. 

• Manage budgeting process for all operations, including leading annual budget preparation and performing periodic review, adjustment and reconciliations. 
• Ensure timely and accurate monthly reporting to ownership, lenders and other stakeholders.
• Provide regular feedback and training to foster professional growth and advancement. 
• Provide leadership, mentorship, and career development for Accounting Team members. 
• Manage all accounting functions (GL, A/R, A/P, Fixed Assets), including review and preparation of account reconciliations. 
• Manage, train, and develop staff, including: Accounting, A/R, A/P, Property Accounting, Development Accounting, Construction Accounting, Reporting, and Auditing 
• Manage the preparation of monthly, quarterly, and annual financial reporting packages. 
• Assist in annual budgets and quarterly re-forecasts. 
• Assist in the review of Cam reconciliations. 
• Manage preparation and execution of external audit. 
• Manage the formation of new investment entities, bank accounts, and setup of new properties in Yardi.
• Manage and oversee compliance to Opportunity Zone Regulations. 
• Maintain institutional knowledge of Opportunity Zone and other regulations. 
• Manage, oversee, and review loan draws and loan draw packages prepared by construction and Construction Accounting team. 
• Assist in tax preparation by working with external tax accounting firm. 
• Prepare journal entries and review journal entries created by subordinates. 
• Assist in the monitoring of debt covenants and oversees lender reporting. 
• Maintain and improve internal control system. 
• Study and standardize procedures to improve efficiency. 
• Manage transition to full GAAP Accrual Accounting system. 
• Manage implementation of PCAOB Accounting Standards. 
• Manage expansion and scaling (including interviews and hiring) of Accounting Team. 
• Complete other tasks and projects as assigned 

EDUCATION & EXPERIENCE 

• Bachelor’s Degree in Accounting required; Master’s Degree in Accounting preferred 
• CPA preferred 
• Minimum 10 years of relevant experience in financial reporting, general ledger and account analysis, and multiple entity consolidation 
• Expert level skills at Yardi and Excel required 
• Proven leadership of a large, multi-tiered team with at least 3 - 5 years of management and supervisory experience
• Real Estate, Real Estate Investment (Private Equity or REIT), Property Management, Real Estate Development, and Construction experience required. 
• Multi-entity consolidation experience required.

Benefits

SoLa Impact offers a comprehensive benefits package that includes paid vacation, medical, dental, vision, and life insurance, as well as pet insurance, sick leave, 10 paid holidays, and bereavement days. This package is designed to provide employees with a range of important benefits that help to support their physical and emotional well-being, while also providing financial protection and peace of mind.

At SoLa Impact, we believe work environment, culture, and the opportunity to learn and grow are key elements when considering a new job. We are just the right size to provide the resources and support you need without the bureaucracy of a large corporate environment. We foster a family-friendly and supportive workplace, collaborative and employee-focused with an emphasis on quality, integrity, trust, and accountability. We are looking to bring someone on board as soon as possible. We provide a rewarding and challenging environment. We expect a lot, but give a lot in return. Strongly prefer candidates local to Los Angeles as no relocation assistance will be provided. All qualified candidates will be contacted directly.

SoLa Impact is an Equal Opportunity Employer. SoLa does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.