Job Postings: Asset Manager and Controller – VareCo
The VareCo is growing and looking to fill two positions – Asset Manager and Controller. Terrance Doyle recently sat down with me to talk about what they’re looking for in an Asset Manager. This podcast is that discussion. The Controller position is not discussed on the podcast, but the job description for it can be found in the show notes.

If you would like to apply for either of these positions, email philip@thevareco.com your resume and cover letter. Put the position for which you are applying in the subject line.

Three Learning Options!
  1. Listen to the podcast “#278: Job Postings: Asset Manager and Controller – VareCo” on the Denver Real Estate Investing Podcast
  2. Watch the YouTube video (at the bottom.)
  3. Read the blog post.

Job Description – Asset Manager

  • Full-time
  • Reports to Director of Operations
  • Salary position

Summary

VareCo is looking for an Asset Manager to join its rapidly growing team and fast-paced work environment. The Asset Manager will play a pivotal role in the execution of VareCo’s value-add strategy in multi-family real estate.  The Asset Manager is crucial to the success of the organization and will interface with all departments of the company. The Asset Manager will serve as a generalist in the areas of asset management, transaction management, underwriting, construction management, and business operations. Additional duties may be assigned from time to time as business needs evolve. This is an excellent opportunity to join a successful private investment firm with high visibility and access to senior management. If you are someone who takes ownership in your work, has an eye for detail, is a systems-oriented thinker, can adapt and move fast, and has a willingness to get your hands dirty – you are our ideal candidate!

General Duties and Responsibilities

The responsibilities of an Asset Manager include but are not limited to:

  • Assist with financial modeling for underwriting and reporting purposes. 
  • Assemble financial reporting on a quarterly, annual, and ad-hoc basis.
  • Collect market research and internal data to assist underwriting and reporting processes. 
  • Conduct various analyses across overall portfolio holdings. 
  • Prepare VareCo’s weekly pipeline report for senior leadership and VareCo’s advisory board.
  • Help write, prepare, and present investment memorandums for VareCo’s investment committee.
  • Help write and prepare quarterly updates for VareCo’s investment partners.
  • Help establish and execute property-level business plans for new acquisitions and portfolio holdings in both Denver, CO and Des Moines, IA including periodic on-site asset reviews in both markets.
  • Coordinate the communications and agreements between third-party vendors, consultants and contractors.
  • Assist with property management contracts, reports, and budgets including supervising and coordinating building maintenance and work orders.
  • Assess current and projected performance of properties by building systems to track project timelines and budgets. 
  • Coordinate the annual budget review process and audit CAM reconciliations.
  • Assist in due diligence as well as the management of acquisition and disposition timelines by working with senior leadership, vendors, and consultants.
  • Implement and manage loan monitoring process with focus on early warning metrics and proper risk protocols for ongoing lender requirements.
  • Help monitor construction performance and prepare construction loan disbursement requests.
  • Work with senior leadership to secure debt financing for new acquisitions and strategic refinances. 
  • Participate in troubled situations/work-out if necessary.
  • Assist with administrative, office tasks and special projects as needed.

Qualifications

  • Minimum 2-5 years of multi-family asset management experience (including valuation experience).
  • Bachelor’s degree in business, finance, or real estate.
  • Ability to consistently demonstrate high quality decision making, keen problem solving, and astute analytical skills. Requires strong attention to detail and a high level of accuracy.
  • Ability to understand operating agreements, contractor agreements, and real estate contracts.
  • Ability to handle multiple tasks, deadlines and changing priorities.
  • Must have excellent communication and technical writing skills.
  • Strong organization skills and deadline driven.
  • Ability to work efficiently in a fast-paced team environment
  • Proficiency in Excel, Word, and PowerPoint
  • Experience in Microsoft Project, Smartsheet, and Argus preferred. 
  • Must be attentive, caring, and a team player.
  • Must have a driver’s license and a reliable vehicle.

How to Apply

Email philip@thevareco.com your resume and cover letter with “Asset Manager” in the subject line.


Job Description – Controller

  • Full-time
  • Reports to Director of Operations
  • Salary position

Summary

VareCo is looking for a Controller to join its rapidly growing team and fast-paced work environment. The Controller will be at the center of VareCo’s Accounting, Finance, and Transaction Management operations with opportunity to drive change and improve the company’s overall systems. The Controller must understand the outflows and inflows of cash to the business and manage financial reports to internal senior management and outside stakeholders. The position requires successfully interfacing with all departments of the company: Asset Management, Construction, Brokerage, and Property Management. If you are someone who takes ownership in your work, has an eye for detail, is a systems-oriented thinker, can adapt and move fast, and has a willingness to get your hands dirty – you are our ideal candidate!

General Duties and Responsibilities

  • Oversee, direct, and coordinate all accounting activities of the company including accounts payable and accounts receivable, period-end close processes, financial reporting, maintaining records, banking and cash management, preparation of real estate tax schedules and payments, construction job-cost tracking, payroll, and all federal/state/local regulatory requirements.
  • Assist in the company’s budget process to establish cash requirements and manage company’s 13-week forward looking cash flow needs.
  • Establish and maintain accounting policies and procedures to ensure compliance with US GAAP and other laws/regulations. Research technical accounting issues to ensure proper accounting and reporting. As needed, oversee external audits of financial reporting.
  • Develop and maintain internal controls to minimize risks and safeguard assets, prevent and detect errors and fraud, ensure timely and accurate financial reporting, promote operational efficiency, and encourage adherence to policies, rules, regulations, and laws.
  • Produce periodic financial and managerial reports for internal management and external stakeholders and answer questions on reported results.
  • Ensure quality control over financial transactions and financial reporting by:
    • Reconciling all bank accounts in a timely manner
    • Monitoring daily cash balances between multiple entities and bank accounts
    • Auditing monthly credit card statements
    • Reviewing real estate utility statements
    • Checking all bank-related accounts for transactions posted incorrectly
    • Setting and maintaining proper expense allocation standards
    • Accurately and timely entering necessary data
    • Implementing an easy-to-follow reporting calendar and holding team members accountable for meeting deadlines.
  • Lead property and commercial insurance policy issuance and maintenance.
  • Assist in real estate transactions as needed including:
    • Gathering, reconciling, and filing documents and statements from investors, vendors, and other external partners.
    • Verifying bank account balances, account numbers, and wire instructions.
    • Reviewing and reconciling closing statements with internal records and real estate contracts.
  • Manage outsourced tax service providers and act as the point of contact for external auditors:
    • Gathers package of information for annual preparation of tax returns
    • Reviews accountants’ tax packages and answers questions when needed.
  • Determine self-directed development and professional training as necessary for the role.
  • Perform other duties as assigned from time to time by execute management.

Accountability

  • The Controller will be accountable to the Director of Operations.
  • Secondary accountability will be to the other management team members, employees and Clients of the company.

Qualitications and Prior Related Work Experience

  • Bachelor’s degree in Accounting with minimum 5 years progressive experience providing financial and accounting support to internal and external stakeholders.
  • GAAP Accounting knowledge and experience.
  • Advanced experience with QuickBooks and/or similar accounting software platforms.
  • Proficient in Microsoft Office suite (Outlook, Excel, Word, PowerPoint, etc.)
  • File management and organization experience with platforms such as Box or similar.
  • Demonstrated ability to serve as a knowledgeable resource to an organization’s management team regarding accounting and financial systems.
  • Experience in real estate transactions and/or construction management accounting is preferred.

Communication and Personal Traits

  • This position requires the following attributes: organized, professional, trustworthy with confidential information, thoroughness, adaptable, likeable, confident, reliable, technically capable, self-motivated, self-disciplined, focused, punctual, keen attention to detail, ability to multitask and prioritize.
  • Strong interpersonal and coaching skills.
  • Must be able to work well – in groups and individually.
  • Ability to manage multiple tasks simultaneously.
  • Must be able to effectively handle stressful situations and address personnel issues with appropriate discretion, HR advice, and respect for the individual.
  • Possess superior written and oral communication skills.
  • Must be able to read and effectively interpret general business documentation.

Physical and Mental Demands

  • Must be able to maintain the following attributes while working under the pressure of deadlines: technical capability, professionalism, self-motivation, self-discipline, focus and attention to detail.
  • Must be able to maintain a safety-minded approach to all activities.
  • Employee is required to stand, walk, climb, sit and use hands and fingers.
  • Some light lifting of objects is required. Must be able to lift 50 lbs.
  • Reaching, grasping, and carrying activities also required.
  • The noise level in the work environment is usually moderate.
  • Although most work is performed inside, occasional outside activities are subject to seasonal temperature fluctuations.

Licenses/Certifications

  • Maintain a valid driver’s license and insurance.

This job description does not list all duties of the job. The employee may be instructed by Executive management to perform other duties. The employee will be evaluated in part based upon performance of the tasks listed in this job description. Management has the right to revise this description at any time. The job description is not a contract for employment. All requirements may be modified to reasonably accommodate individuals with disabilities.

How to Apply

Email philip@thevareco.com your resume and cover letter with “Controller” in the subject line.

YouTube Video: Job Postings: Asset Manager and Controller – VareCo

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Terrance Doyle
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