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Management Accounting

Location:
Massapequa, New York, 11758, United States
Posted:
March 27, 2011

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***** *******

( ***C Andover Drive, Monroe Township, NJ 08831 ( Cell: 516-***-**** (

********@***.***

EXPERIENCE

Chief Financial Officer, Servicing Reputable Real Estate Company 2008 -

Current

o Strategic planning and acquisitions of land and development of new sites

and revitalization of old communities with new and modern amenities with

the help of private investments. Arrange financing of various deals and

negotiations with investors and lending institutions for timely and

economical funding of various projects. Oversee, and analyze all

processes and due diligence from LOI to closing in acquiring properties.

o Prepare capital and operating budget to strengthen liquidity and increase

profitability. Enhance the relationships with investors and lenders by

ensuring that debt service coverage ratio is well maintained, and

necessary precautions are undertaken to maintain the same in upcoming

fiscal year. Develop financial models to increase the vote of confidence

of investors and lenders in new deals and projects.

o Prepare timely waterfall based on complex partnership agreements.

o Prepared detailed equity and distribution statements including

allocations of profit. Analyzed current IRRs with comparison to agreed

financial model. Liaised with investors, their fund administrators and

tax accountants to evaluate the fund growth and attract them to invest

further with confidence.

o Prepare and monitor monthly, quarterly and annual financial reports with

budget variance analysis and notes to financials for partners, investors

and lenders.

Chief Financial Officer, American Realty Capital, LLC 2006 - 2008

A private REIT of $1B, focused on triple & double net properties like banks

and stand alone commercial properties.

o Oversaw, and analyzed all processes and due diligence from LOI to closing

in acquiring triple and double net properties in open ended funds.

o Managed assigned funds and maintained fund accounting processes. Raised

capital calls for acquiring new partnerships.

o Set new accounts and ensured smooth transition by setting up information

quickly and accurately.

o Advised board members of various properties on their current financials,

budgets and cash flows as well as on various options

of financing major capital improvements.

o Calculated property management and professional fees based on the

management agreement.

o Prepared timely waterfall to various preferred investors and limited and

general partners.

o Prepared detailed equity and distribution statements including

allocations of profit. Analyzed current IRRs with comparison to agreed

financial model. Liaised with investors, their fund administrators and

tax accountants to evaluate the fund growth and attract them to invest

further with confidence.

o Implemented control on proper insurance coverage as required by leases

and ensured timely payments by tenants.

o Supervised month-end closing for multiple companies and management of

company operations.

o Reviewed fixed assets schedules and prepared depreciations on tax and

GAAP basis.

o Compiled and recorded various amortization schedules.

o Prepared monthly financial reports on GAAP basis and quarterly and annual

reports on GAAP, tax and fair market value basis.

o Implemented new accounting software, IBS, and produced automated

financial reports.

Chief Financial Officer, 601 West Associates LLC 2001 - 2006

A group of commercial properties over $2B funded with private equity;

owned, managed and developed.

o Acquired several properties, formed new partnerships and refinanced.

o Evaluated the potential acquisition of commercial properties based on

location, physical condition, and tenants' portfolio. Calculated IRR,

liquidity, debt-equity, ROI, and current revenue-expense ratios.

o Prepared and reviewed acquisition costs and funds-flow to match with

acquisition models for variances.

o Managed and monitored funds assigned to various properties and ensured

accurate fund accounting processes.

o Prepared capital calls with IRRs for major capital improvements with

detailed analysis.

o Processed and supervised dissolving of the partnerships and selling of

the properties and accurate disbursements of funds. Established and

accounted for escrow accounts for closing expenses and promptly disbursed

the balance.

o Coordinated, compiled, and reviewed partnership financial reports in

accordance with GAAP and FASB requirements. Prepared detailed capital

statements, GP allocations, and distributions for each partner. Analyzed

financial statements, comparing with prior

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year's actual as well as current year's budget with appropriate

explanations for variance.

o Prepared and reviewed K1s, and supplied timely information to general

partners for their filings of 10Ks and 10Qs.

o Created and maintained excellent working relationships with various

investors, and their fund administrators and accountants by providing

timely information on fund growth and tax implications.

o Calculated monthly management, professional and administration fees based

on management agreements.

o Calculated monthly waterfall for preferred returns, return of preferred

equities, and common returns. Prioritized timely funding of

distributions to various partners and investors as per the agreements.

o Prepared and monitored operating and capital budgets, cash flow

forecasts, and business projections to increase liquidity and net

earnings.

o Supervised the timely preparation of monthly billings, various

escalations, charge backs, and cash management reports.

o Reviewed straight line rent calculations. Computerized fixed assets and

depreciations of various assets using FAS on tax and book basis.

Prepared various amortization schedules for proper recording.

o Advised board members of various properties on their current financials,

budgets and cash flows.

o Worked closely with other departments to share common information and

implement proper flow of work papers to increase efficiency and

strengthening team work.

o Resolved all issues related to and including upgrade of computer hardware

and software.

o Trained staff in their related areas of work to boost their confidence.

Key tenants were: Tommy Hilfiger, Johnson & Johnson, Martha Stewart

Omnimedia, Gartner Group, US Customs, and FBI.

Accounting Manager

Phipps Houses 1993 - 2001

A group of residential properties worth $1.5B funded with private equity;

owned, managed and developed.

o Maintained a $15M+ investment portfolio; recorded premiums, discounts,

and interest earned and accrued.

o Prepared and supervised internal and external monthly, quarterly, and

annual financial reports.

o Forecasted budgets and cash flow for capital projects, operating income

and costs, and distributions.

o Generated statutory reports for low-income housing to DHCR and HUD;

worked with property managers to fulfill obligations.

o Monitored and prepared updates for state and federal government entities

detailing subsidies and grants.

o Computerized lease extractions for CAM charges, CPI increase, and tax

escalations to optimize profitability.

Assistant Controller

Sunrise Mall Associates 1985 - 1993

A mall in Long Island, NY funded with private equity; owned, managed, and

developed.

o Prepared business plans for major renovations and upgrades of mall

facilities to maintain high-profile customers.

o Encouraged tenants to pay rent by the tenth of each month; reduced late

mortgage payments and related fees.

o Improved investor relations by timely distributions of preferred returns.

o Prepared monthly, quarterly, and annual financial reports with budget

variance analysis.

o Prepared monthly waterfall for limited and general partners.

o Prepared detailed schedules of distributions and allocations to partners

with K1s.

o Managed funds of investors and fund accounting processes.

Education

o M.S.-Finance, Baruch University, New York with 4.0 average

o B.S.-Accounting & Auditing, University of Bombay, India with 95% average

score

Licenses

o Chartered Accountant - the Institute of Chartered Accountants of UK

o Chartered Accountant - the Institute of Chartered Accountants of India

Computer Skills

o IBS, BJ Murray, Skyline, MRI, Yardi, Argus, QuickBooks, FAS, Excel, and

MS Office

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