The position will head up the Property Finance Team of about 6 professionals based in Frankfurt. The Property Finance Team's responsibility ranges from managing external property accountants and other service providers, preparing and reviewing the monthly and annual accounts on property level to regular finance-related tasks like budget vs. actual analysis, cash management, external reporting, etc. The Property Finance Team cooperates and collaborates with internal departments, fund and asset management teams as well as various external business partners (e.g. AIFM platforms, property managers, etc.) and manages a portfolio of approximately 100 properties totaling to approximately €3bn invested in retail, logistics, and mixed-use sectors across Germany and continental Europe.
The Senior Finance Manager (Property Finance) manages the team of professionals providing guidance and direction for related strategic and operating activities with a focus on achieving the overall goals of the organization and providing for mentoring, coaching, and their professional development, analyzing fund finance processes and implementing improvements.
Key responsibilities will include:
* Ensuring the accounting policies and practices of the organization are followed to maintain the quality and completeness of deliverables provided to investors, management, and regulatory and taxing authorities.
* Line Manager for up to 6 professionals specialized in Property Accounting & Controlling, financial management, and development of investment properties located in Europe.
* Assigning and monitoring of the financial responsibilities across managed properties, including accounting, internal and external reporting, audit support, cash flow requirements, etc.
* Responsible for Property Finance and Accounting, Corporate Accounting, and Finance Management.
* Managing a Service-Division of 18 paneuropean Special Funds (approximately 100 properties).
* Important interface function between internal and external clients, departments, and service providers.
* Providing support to the respective Asset & Fund Managers, KVGs, auditors, compliance officers, tax advisors, corporate accountants, client service, legal, structuring.
* Close interaction with other Nuveen Real Estate offices globally and assisting with all property-related reporting requirements.
* Hands-on involvement with reporting, cash flow management, and process improvement.
* Indirect management of third-party service providers.
* Providing Process & Reporting training to property managers as well as on-site reviews and audits to ensure policies and practices are followed.
* Support on contract negotiations, especially service level review (SLA, PMA, SPA, etc.).
Main Duties and Responsibilities
Annually:
* Preparation of year-end financial statements and preparation of year-end reports on property level.
* Main point of contact for property-related audit queries.
* Manage tax compliance process and adherence on property level.
* Review of annual service charge reconciliations.
* Operational site review at property manager site.
Quarterly:
* Support on the preparation of finance sections for quarterly investment reports to investors and for fund performance as well as risk and compliance steering.
* Preparation of quarterly liquidity requests (cash flow management).
Monthly:
* Month End Close management and coordination.
* Control and review of balance sheet and P&L accounts on property level (i.e. rental reconciliations, reviewing bank reconciliations and bad debt assessment, calculation of net asset value, accruals, deferrals).
* Supporting on a smooth technical interface to the client's accounting system for both accounting and tenancy master data.
* Calculation of VAT deduction level by property.
* VAT reconciliation by property.
* Monthly quality review, management, and reporting of correct tenancy master data maintenance on MRI.
Ongoing:
* Compliance with filing and reporting legislation to ensure all deadlines for preparation of income tax, VAT, filing of accounts, etc. are met.
* Day-to-day accounting issues.
* Liaising with managing agents and members of the wider Nuveen Real Estate team to deliver process standardization and efficiencies.
* Providing assistance to the Fund Manager on purchases and acquisitions where applicable.
* Providing assistance to the Fund Manager in efforts to grow the Fund and potential restructuring of the Fund.
* Preparing and reviewing reportings to various internal departments (Performance, Treasury, etc.).
* Develop and maintain close relationships with external advisors and service providers (i.e. managing agents, service-KVGs, auditors, tax advisors, corporate accountants) as well as Fund Managers, Asset Managers, and Fund Finance.
* Clarify ad-hoc accounting queries with external property and fund accountants.
* Close interaction with other Nuveen Real Estate offices globally and assisting with all reporting requirements.
* Ensure 4-Eye-Review where applicable for important, complicated reports and analysis and preparation and ongoing update and maintenance of process descriptions.
General:
* Managing team interactions – internal (VAT, operations, treasury, fund management) and external (administrators, Service-KVG, auditors, tax advisors, managing agents, banks, etc.) as required.
* Liaising with all parts of Nuveen Real Estate as appropriate to ensure that all financial and operational matters are dealt with and managed.
* Additional ad-hoc project work will be required.
* Invoice approvals.
* Cash management.
* Ad-hoc queries.
* Assist with due diligence work on investment/divestment activity.
* Support on IT projects.
Technical Skills & Qualifications Required
* Experienced people leader respecting and supporting NUVEEN's individual culture, goals, and behavior.
* Qualified accountant (ACA/ACCA/CIMA or equivalent like Bilanzbuchhalter IHK or Assistant tax consultant).
* Property and/or Fund accounting experience.
* Good knowledge of Excel, Word, Outlook & accounting systems (MRI experience desirable).
* Working knowledge of local accounting standards.
* Good knowledge in tax law is desirable.
* Fluent German and English skills are essential.
Competencies Required
* Result and deadline driven - Use own initiative to identify any problems and deliver solutions.
* Team player - close liaison with fund management and other areas of the finance and operations team, as well as external advisers.
* Communication & presentation - clarity of presentation of information.
* Teamwork/Commercial - Support the other members of the Finance team and Fund teams.
* Act in line with Nuveen Real Estate’s Company Values (role model).
* Mature and confident, able to deliver against objectives and to manage internal and client relationships.
* Good analytical, planning, and organizational skills.
* Interested in investment law, real estate funds, and transactions.
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