New York Life Insurance Company ASSOCIATE - Equity Real Estate Accounting/Reporting in New York, New York

New York Life Investments (NYLIM), an indirect, wholly owned subsidiary of New York Life Insurance Company, is a top 25 global asset management firm. With more than $500 billion in assets under management, NYLIM is a premier investment management firm serving a variety of client segments including retail, institutional, insurance and defined contribution and benefit on a global basis. New York Life Investments offers a diverse set of investment capabilities ranging from traditional equity and fixed income to alternative investment strategies and multi-asset solutions. Renowned for its premier investment acumen and client focus, NYLIM’s vision is to be one of the most trusted providers of investment management expertise and long-term financial security.

Position Background :

New York Life Real Estate Investors (“NYL REI”) is the real estate investment management division of New York Life Investments. NYL REI manages a portfolio in excess of $50 Billion which includes real estate debt, real estate equities and real estate securities. The equity portfolio includes assets held in New York Life’s general account, separate accounts, an open-end core fund, closed end value add funds, and co-investments with REIT vehicles. We are seeking an associate accounting professional responsible for financial accounting and reporting for the equity real estate portfolio.

This opportunity requires developing an in-depth knowledge of the real estate industry and excellent technical ability. The position is responsible for ensuring the financial integrity and timely reporting of equity real estate, including funds, property, asset, joint venture, debt compliance, GIPs, NCREIF and investor account financials.

Requirements :

  • 2+ years of real estate accounting experience

  • Experience with fund level, historical cost GAAP accounting, Statutory Accounting, and tax reporting a plus

  • Yardi experience a plus

  • Undergraduate degree in accounting

  • Experience with corporate accounting, consolidation and SOX reporting

  • Ability to evaluate, document, and implement best in class policies and procedures

  • An advanced degree or CPA designation preferred

Reporting Structure :

  • Reports to Senior Associate

  • Coordinates internally with Portfolio and Asset Management and with New York Life internal accounting and audit

Responsibilities :

Financial Reporting

  • Ensures accurate and timely financial information is provided, as necessary, to internal management, external auditors, internal auditors, and external clients

  • Reviews and maintains quarterly valuation changes; calculates asset management fee and Net Asset Value, as necessary

  • Reconciliation between custodian banks and accounts, pricing, real estate reporting to the clients, appraisal adjustments and is the point person for their project’s audit

  • Addresses and responds to specific financial requests made by Real Estate Officers regarding investment performance and fund financial statements

  • Review capital call and distribution calculations, sources and uses, allocations, and investor notices

  • Maintain and enhance accounting procedures and internal control systems

  • Other projects and analysis as requested by senior management

Additional skills :

  • Excellent verbal and written communication, and organizational skills

  • Must be detail oriented and be able to work under the pressure of deadlines

  • Must be a self-starter and be able to work in a team environment

  • Must be able to effectively interact with all levels of Company personnel, as well as external professionals.

  • Willingness to learn and thrive in a team orientated environment

EOE M/F/D/V

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