Our Company
Riaz 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 verses a national average of 25%. As a result, Riaz Capital has launched new projects that are “Affordable by Design” - ABD, focused on helping this new ambitious middle class attain homes that are comfortable, cool and work with their financial goals. We raised a $35M fund in 2018, which we are pairing with a much larger fund (2-5x the size) to implement the ABD concept throughout the East Bay, with a goal of creating a fund with over $1B in assets under management by 2025. We are seeking highly 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 across its offices in San Francisco and 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 (AUM). Riaz Capital has maintained consistent growth over the last 5+ years, and after the completion of three 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 delivers efficiency and long-term thinking to all our projects while allowing us to create above-market returns for our investors.
Project Accountant
The Project Accountant will focus on large multi-family projects in the East Bay while supporting pre-construction activities of numerous other ground-up projects in our pipeline. The Project Accountant will work closely with our Project Managers, as well as the rest of the affiliated companies to see assigned projects through to completion.
Primary Job Responsibilities:
· AP and General Ledger
o Handle and process all aspects of construction payables, including coding, and maintenance of job cost
o Coordinate the billing process with the project team
o Properly collect and track all compliance items for vendors and subcontractors, including insurance requirements, lien releases, W9 Information, and all properly signed documents
o Maintain accurate accounting file system
o Prepare journal entries for corrections and reclassifications
o Process contractor’s payment applications for monthly billing, including percent of completion, retainage percent or amount and verify that it contains a valid conditional waiver and release document
· Loan Compliance
o Prepare loan draws and consolidate all draw related support
o Loan Compliance - Ensure that all loan reporting items are submitted on time
· Reporting and Close Process
o Report to management regarding the remaining funding available for projects
o Perform month end account closing reconciliations including work in process (WIP) reconciliations
o Monitor fixed asset activity in detail and maintain fixed asset schedules as directed.
o Generate month end depreciation and amortization entries.
o Prepare all monthly financial reports including but not limited to:
§ Budget vs Actuals
· Balance Sheet
· Project Cash Flow Forecast.
· General
o Develop written accounting procedures for the operations staff and work with team to ensure proper implementation and compliance.
o Assist with preparation of the year-end financial statements and tax returns
o Communicate routinely with Project Managers and Asset Managers on a variety of job-related topics including bonding, insurance and contract agreements.
o Support on any accounting related activities during the Month - End close as necessary
· Contract/Budget/Change Order Management in Yardi
o Work with Project manager on ensuring budgets are kept up to date and reflective of current commitments.
o Analyze change orders for correct calculations
o Update project budgets monthly, per the development and construction team.
o Upload and manage vendor contracts, ensuring that Yardi commitments are tied out and up to date.
o Create and issue change orders, per the development and construction team ensuring that Yardi is tied out and up to date.
· Construction Management books:
o CC reconsolidation and reimbursement
o Payroll
o Payroll reimbursement
o WC insurance payments
o GL insurance payments
o Management books reconsolidation
o State compliance
Secondary Job Responsibilities:
· Provide general support to Accounting team as necessary and directed by CFO and/or Controller
Qualifications:
· 3+ years of experience in Accounting or financial operations, focused in a construction or development enterprise
· Advanced user of QuickBooks, Sage and Yardi
· Highly proficient computer skills and in-depth knowledge of relevant software such as MS Office Suite
· Advanced Microsoft Excel skills
· Bachelor’s degree in Accounting or Finance
· Experience with various business lines with large amount of inter-company transactions preferred
· Highly organized, proactive, and attention to detail.
· Good written and verbal communication skills and strong organizational skills
· Strong commitment to customer service.
We offer a competitive salary and benefits. Please submit a cover letter, resume, writing sample, and salary requirements with your application.
Salary: Commensurate with experience
Status: Full-time
Start Date: Immediately
Location: Oakland Office
Riaz Capital is an equal opportunity employer and believes diversity in the workplace results in more innovative solutions and drives value for our firm.