The Property Finance Team 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 c. 80 properties totalling to c. €3bn invested in retail, logistics and mixed use sectors across Germany and continental Europe.
This role requires no regulatorydesignation.
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K ey responsibilities will include:
1. Financial management of development and investment properties located in Europe
2. Support to the respective Asset & Fund Managers, KVGs, auditors, corporate accountants etc.
3. Close interaction with other Nuveen Real Estate offices globally and assisting with all property
4. related reporting requirements
5. Hands on involvement with reporting, cash flow management and process improvement
6. Providing support on indirect management and oversight of third party service providers (e.g.
7. Managing Agents)
Main Duties and Responsibilities
Annually:
8. Preparation of year-end financial statements and preparation of year-end reports on property level
9. Main point of contact for property related audit queries
10. Manage tax compliance process and adherence on property level
11. Review of annual service charge reconciliations
Quarterly:
12. Support on the preparation of finance sections for quarterly investment reports to investors and for fund performance as well as risk and compliance steering
13. Preparation of quarterly liquidity requests (cash flow management)
Monthly:
14. Month End Close management and coordination
15. Control and review of balance sheet and P&L accounts on property level (i.e. rent and service charge reconciliations, reviewing bank reconciliations and bad debt assessment, posting accruals/deferrals, variance analysis on rental income and expenses, account reconciliation and clearing)
16. Supporting on a smooth technical interface to the clients accounting system for both accounting and tenancy master data
17. Calculation of VAT deduction level by property
18. VAT reconciliation by property
19. Monthly quality review, management and reporting of correct tenancy master data maintenance on MRI
Ongoing:
20. Day to day accounting issues
21. Liaising with managing agents and members of the wider Nuveen Real Estate team to deliver process standardisation and efficiencies
22. Preparing and reviewing reporting to various internal departments (Performance, Treasury, etc.)
23. Clarify ad-hoc accounting queries with external property and fund accountants
24. Close interaction with other Nuveen Real Estate offices globally and assisting with all reporting
25. requirements
26. Ensure 4-Eye-Review where applicable for important, complicated reports and analysis and
27. preparation and ongoing update and maintenance of process descriptions
General:
28. Additional ad-hoc project work will be required
29. Invoice approvals
30. Cash management
31. Ad-hoc queries
32. Assist with due diligence work on investment/divestment activity
33. Support on IT projects
Technical Skills & Qualifications Required
34. Qualified accountant (ACA/ACCA/CIMA or equivalent like Bilanzbuchhalter IHK or Assistant tax consultant)
35. Property and/or Fund accounting experience
36. Good knowledge of Excel, Word, Outlook & accounting systems (MRI experience desirable)
37. Working knowledge of local accounting standards
38. Good knowledge in tax law is desirable
39. Fluent German and English skills are essential
Competencies Required
40. Good analytical, planning and organizational skills
41. Customer focused and self-organized
42. Team player - close liaison with fund management and other areas of the finance and operations team, as well as external advisers
43. Good communication skills
44. Teamwork/Commercial - Support the other members of the Finance team and Fund teams
45. Act in line with Nuveen Real Estate’s Company Values (role model)
Related SkillsAccountability, Accounting Standards, Business Acumen, Client Relationship Management, Collaboration, Communication, Compliance, Data-Driven Business Intelligence, Due Diligence, Executive Presence, Financial Acumen, Financial Modeling, Financial Risk Management, Financial Statements, Fund Accounting, Market/Industry Dynamics, Stakeholder Engagement, Story Telling
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Company Overview
Nuveen is the investment management arm of TIAA. It is one of the largest global asset managers with specialist knowledge across a wide array of asset classes, including fixed income, listed equities and alternatives.Nuveen is driven not only by the independent investment processes across the firm, but also the insights, risk management, analytics and other tools and resources a truly world-class platform provides. As a global asset manager, our mission is to work in partnership with our clients to create outcome-focused solutions to help them secure their financial future.For more information about the firm please visit our website at www.nuveen.com