A fantastic opportunity to join a fast-paced and dynamic European Real Estate Fund as they seek an Interim Head of Fund Finance. This role will be challenging yet highly rewarding. As a senior member of the fund finance function, the role will offer a very strong commercial slant along with team management duties. The ideal candidate will have a strong background from a Real Estate business or Fund and also be well-versed in broad fund finance duties, supporting deal teams and also have experience of deal and tax structuring.
The Fund Finance group are responsible for:
- all management and financial accounting and fund level performance reporting for their assigned funds working with local finance teams, local property managers and external accountants
- ensuring fund structures are set up in compliance with the relevant legal, taxation and transfer pricing advice and that they continue to be operated within that advice
- To manage all stakeholders: internal and external service providers (including but not limited to auditors, administrators and local external accountants) and provide financial support to the Asset managers and deal team.
- Ensure that all new transactions are onboarded in a controlled manner and that appropriate control, operational and reporting processes are established
- Oversight of key financial processes including but not limited to external audits and annual budgets.
The Head of Fund Finance is responsible for overseeing the team of Controllers who provide financial control and support for the multiple fund platforms. These are currently located in the Netherlands, Germany, Finland, the Czech Republic, Norway, Sweden. Denmark, Italy and Spain with an active pipeline of new transactions
This role will be responsible for working with the CFO for developing a team that meets the staffing, structural, reporting and control needs of an expanding business and tailoring that to meet individual investor needs.
- Oversight of timely and accurate preparation of consolidated quarterly investor financial reporting and any supplementary queries as well as ad hoc.
- Managing the relationship with the external auditors and ensuring that audit timetables are both achievable and in compliance with investor reporting timetables
- Ensuring that financial reports use appropriate GAAP, agreeing with the auditors any new GAAP presentation and providing IFRS guidance to local finance teams or external accountants
- Oversight of all key deal documentation such as JVAs, AMAs and LPAs to ensure any financial related provisions are consistent, achievable and appropriate for the transaction concerned.
- Oversight of complex deal structures in conjunction with Fund Controllers, Deal teams, Tax and local finance teams (or other administrators and accountants) to ensure that appropriate processes are in place to manage the structure in compliance with any legal or regulatory requirements, transfer pricing and other taxation advice and provisions of any deal documentation.
- Reviewing in conjunction with Fund Controllers key transactional processes such as drawdowns, distributions and funds flows
- Ensuring in conjunction with Fund Controllers and deal teams that appropriate controls and process are in place to onboard new transactions in a controlled manner and manage the structures on an ongoing basis
- Provide support to deal teams and other areas of the wider business for major transactional events such as deal disposal and refinancing
- Developing and maintaining KPIs to measure Fund Finance departmental performance
- Oversight of management information included in quarterly investor reporting to ensure appropriateness and consistency with financial reporting
- Work with Asset Managers, Fund Controllers and local finance teams to ensure that a rigorous budgeting process is in place for each of the fund platforms
- Oversight of all budgets for completeness and accuracy
- Day to day management of experienced Fund Controllers responsible for the various platforms in London and other locations as appropriate. To include career development opportunities, ensuring appropriate training received and establishing hiring plans to account for growth and new locations
- Managing key relationships with other groups within the business in particular local finance teams, Asset Management and deal teams
- Managing key external relationships such as local accountants, administrators and fund managers
Other Ad Hoc Projects
- Working with Asset Managers to ensure fund models are complete and consistent with financial results and annual budgets or business plans
- Working with Head of Investor Reporting on transformational projects such as Fund Finance system review, re-engineering quarterly reporting process and defining divisional responsibilities
Qualifications / Experience
- Educated to degree standard
- Qualified ACA/ACCA with at least 12 years post qualification experience
- Extensive real estate fund experience gained in either a fund management, private equity or real estate environment essential
- Advantageous to have experience of managing qualified controllers in multiple jurisdictions
- Highly preferential to have experience of development projects and student housing