Company: LEM Capital
Location: Philadelphia, PA
Employment Type: Full Time
Date Posted: 10/17/2021
Expire Date: 12/17/2021
Job Categories: Accounting/Auditing
LEM Capital (“LEM”) is seeking a detail-oriented, self-motivated individual with an entrepreneurial spirit to become a member of the accounting and reporting team. This role offers the opportunity for substantial growth in a dynamic environment.
Duties will include working closely with the Controller, fund administrator and other departments of the firm to ensure accurate and timely financial reporting to investors. The Senior Accountant will be responsible for reviewing financial statements prepared by the fund administrator for multiple private equity real estate funds as well as maintaining the books and records for the firm’s Management Company. Other responsibilities may include assisting with the preparation of marketing presentations and compliance, tax and regulatory filings.
Primary areas of focus include:
Review fund financial statements, in accordance with US GAAP Investment Company Accounting standards, prepared by the firm’s fund administrator.
Support the year end audit and tax preparation processes, in collaboration with the Controller.
Responsible for cash management and bookkeeping duties of the Management Company.
Documentation of expense allocations, ensuring reasonableness and adherence to fund agreements.
Review workpaper files including capital activity, investment activity, income and expense accruals and valuation adjustments.
Review investor reports, capital call notices and distribution notices prepared by fund administrator.
Interface with the fund administrator for various other accounting and reporting matters.
Preparation of cash reconciliations and analyses for all funds and the Management Company.
Support the Investor Relations team with marketing presentations and inquiries from investors.
Assist with providing financial information needed for compliance, tax and regulatory filings and maintain internal database to ensure SEC exam readiness.
• Bachelor's degree required, preferably with a major in accounting or related field.
• Ideal candidate will have 2 to 5 years of experience working with a real estate company, a private equity fund or in public accounting.
• Knowledge of US Generally Accepted Accounting Principles and other comprehensive basis of accounting, with an emphasis on investment partnerships.
• Experience preparing and reviewing general ledgers, workpapers and financial statements.
• Team player, who works well with others, is organized, proactive, self-directed, conscientious and assumes accountability and responsibility for specific performance and work product.
• Strong organizational skills and attention to detail with the ability to manage multiple tasks simultaneously.
• Ability to communicate clearly and concisely both orally and in writing.
• Strong Microsoft Excel capabilities.
• Tax experience a plus.
• QuickBooks experience a plus.
• Ability to grow within the role and take on increased responsibilities.
• Position is based in Philadelphia, PA.
Company Name: LEM Capital
LEM Capital is a real estate private equity firm with a 19-year track record focused on protecting investors’ downside and building portfolios to help deliver dependable current cash flow and equity upside through good and bad cycles. The team consists of multifamily experts that seek to acquire well-located apartment properties where LEM can add value and increase rents through physical upgrades and implementation of better management practices. The firm’s approach combines the local, long-term market knowledge and day-to-day management of its network of local partners with LEM’s disciplined investment selection, rigorous due diligence process and intensive asset management oversight. LEM’s goal is to deliver attractive risk-adjusted returns to its investors while safeguarding capital. Since 2002, LEM has raised over $1.4 billion in investor commitments(1) and has acquired over 24,000 value-add apartment units since 2011.(2) Headquartered in Philadelphia, the team has strong roots in the Philadelphia community and broader Pennsylvania. Our team is entrepreneurial in size but institutional in experience. We encourage an open dialogue across the Firm to ensure collaboration, inclusion and respect - our success is achieved together. We support a culture of diversity, equity and inclusion and seek to foster a corporate culture where differences and individuality is encouraged, understood and valued through engagement with our co-workers, clients, partners and vendors, while aiming to connect the larger community with our firm and sector Notes: 1 – As of July 9, 2021. 2 – As of August 2, 2021.