Revantage Corporate Services

  • Manager - Fixed Assets & Capital

    Job Locations US-Chicago
  • The Manager, Fixed Assets is responsible for is responsible for completing and managing the team’s daily operation regarding the capital accounting function for the fixed asset portfolio.  He or she will develop and maintain accounting procedures, best practices, and systems for compiling, analyzing and reporting information. A successful Manager is knowledgeable about capital fixed asset projects, has strong business acumen, and the ability to multitask internal and external requests. 

     

    Revantage Corporate Services, an affiliated company of Blackstone, was created in August 2017 to provide consultative services consisting of HR, Finance, Tax, Legal, Risk Management and Technology to real estate portfolio companies owned by Blackstone funds, in various sectors including multifamily (LivCor), commercial office (Equity Office), retail (ShopCore), hotel (BRE Hotels & Resorts), and industrial (Link).  As Revantage expands, we may provide services to additional Blackstone companies. 

    As the Manager, Fixed Assets, one is held accountable to, however not limited to, the following job functions: 

     

    Functional

    • Manage and oversee the daily operations for Capital Accounting Hospitality Investment Reporting including setting up projects, tracking projects and winding down projects.
    • This position collects various capital reports from the Operators and Project Managers in order to facilitated internal reporting of data to other teams.
    • Work with PM Web Software for Full Service Projects and Excel for Select Service Projects.
    • This position interacts with the Project Management team and the Accounting team to provide reporting on the status of capital projects. This includes analyzing variances from forecast and actual.
    • Review work monthly, quarterly and annually to evaluate performance of others and to develop individuals' competencies
    • Relay capital forecasts to Accounting in preparation of cash models.
    • Ensure all capital hospitality property invoices are processed and paid timely
    • Establish and enforce proper accounting methods, policies and principles
    • Provide recommendations to improve systems and procedures and initiate corrective actions.
    • Maintain list of active projects including working with the Fixed Asset Team to place assets in service to begin depreciation .
    • Oversee month-end, quarter-end and year-end close processes such as account reconciliations, prior period adjustment and monthly journal entries, bank reconciliations, etc. to ensure accuracy and completeness
    • Develop and document business processes and accounting policies to maintain and strengthen internal controls
    • Ensure that processes are compliant with GAAP principles

     Execution

    • Ensure organization has the appropriate skills and the required capacity to support BRE Hotels.
    • Incorporates anticipated demand, driven by company initiatives and business conditions to ensure required capacity and skills will be available in the future
    • Maximize economic impact to the company by managing costs, while enhancing the team(s) value proposition
    • Assess and react to changing business conditions, in terms of their impact the organization they lead.
    • Provide oral and written presentations on new business workflows, as well as high complex functional documentation in strategic technical or functional reports
    • Ensure team’s processes and procedures support the department’s goals according to guidelines and policies

    Transaction Accounting (e.g. acquisition, disposition and other similar transactions)

    • Responsible for successful delivery of all acquisitions and disposition accounting activities and cross functional collaboration to ensure compliance with GAAP and statutory requirements
    • Leads onboarding and wind down efforts of acquisitions, dispositions and change of operators

    Relationship Management

    • Accountable to BRE Hotels satisfaction with the accounting team’s performance, responsiveness, and interactions.
    • Lead initiatives to ensure smooth business partner experience across the team.
    • Become day-to-day go-to person for Revantage business partners, BRE Hotels and Blackstone
    • Respond to business partner inquiries and commit to deliverables by leveraging resources across the team
    • Partner with senior managers to identify and drive external relationships with the team’s key contacts and stakeholders including third party accounting departments and third-party operators accounting teams.
    • Assist other PC’s during Project initiatives on an as-needed basis.

    Personnel Management

    • Provide feedback for your team members on a regular basis; deliver tough messages professionally. Address behavior and performance daily.
    • Build strong leadership and career development opportunities on all teams they manage
    • Provide input into the development of team staffing plan and budget
    • Develop a world class bench and a successor for the Director position

    Process & Technology Improvement

    • Act as subject matter expert during process and technology requirements and design processes.
    • Ensure team supports testing and assessment of new tools
    • Establish best practices for use of tools/technology
    • Specify process improvements
    • Ensure team members adopt and adhere to new processes

    Required Qualifications

    • Bachelor’s Degree with a major in Finance, Accounting or closely related field, Master’s Degree Preferred
    • 5+ years of experience in cost accounting, financial analysis and general accounting
    • 5+ years performing at a supervisory level
    • Certifications/Licenses: CPA certification preferred
    • Skills:
    • Real estate knowledge a plus
    • Must have knowledge of US GAAP
    • Strong working knowledge of MS Office, accounting software and databases (ARGUS, Workday, Yardi)
    • Requires understanding of financial modes, corporate financials and regulatory market
    • Excellent communication, problem solving and interpersonal skills necessary.
    • Ability to multi-task and manage shifting priorities in a fast-paced environment
    • Strong attention to detail and ability to work both independently and in a team environment

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