Job Information
Nuveen Investments Fund Finance - Senior Finance Manager, based in Frankfurt (m,f,d) in Frankfurt, Germany
The position will head up Property Finance Team of about 6 professionals based in Frankfurt. The Property Finance Team responsibility ranges from managing external property accountants and other service providers, preparing and reviewing the monthly and annual accounts on property level to regular finance related tasks like budget vs. actual analysis, cash management, external reporting etc. The Property Finance Team cooperates and collaborates with internal departments, fund and asset management teams as well as various external business partners (e.g. AIFM platforms, property managers etc.) and manages a portfolio of c. 100 properties totalling to c. €3bn invested in retail, logistics and mixed use sectors across Germany and continental Europe.
The Senior Finance Manager (Property Finance) manages the team of professionals providing guidance and direction for related strategic and operating activities with focus on achieving the overall goals of the organisation and providing for mentoring, coaching and their professional development, analysing fund finance processes and implementing improvements.
Key responsibilities will include:
Ensuring the accounting policies and practices of the organization are followed to maintain the quality and completeness of deliverables provided to investors, management and regulatory and taxing authorities
Line Manager for up to 6 professionals specialized in Property Accounting & Controlling, financial management and development of investment properties located in Europe
Assigning and monitoring of the financial responsibilities across managed properties, including accounting, internal and external reporting, audit support, cash flow requirements etc.
Responsible for Property Finance and Accounting, Corporate Accounting and Finance Management.
Managing a Service-Division of 18 paneuropean Special Funds (ca. 100 properties)
Important interface function between internal and external clients, departments and service providers
Providing support to the respective Asset & Fund Managers, KVGs, auditors, compliance officers, tax advisors, corporate accountants, client service, legal, structuring
Close interaction with other Nuveen Real Estate offices globally and assisting with all property related reporting requirements
Hands on involvement with reporting, cash flow management and process improvement
Indirect management of third-party service providers
Providing Process & Reporting training to property managers as well as on-side reviews and audit to ensure policies and practices are followed
Support on contract negotiations, esp. service level review (SLA, PMA, SPA, etc.)
Main Duties and Responsibilities
Annually:
Preparation of year-end financial statements and preparation of year-end reports on property level
Main point of contact for property related audit queries
Manage tax compliance process and adherence on property level
Review of annual service charge reconciliations
Operational site review at property manager site
Quarterly:
Support on the preparation of finance sections for quarterly investment reports to investors and for fund performance as well as risk and compliance steering
Preparation of quarterly liquidity requests (cash flow management)
Monthly:
Month End Close management and coordination
Control and review of balance sheet and P&L accounts on property level (i.e. rental reconciliations, reviewing bank reconciliations and bad debt assessment, calculation of net asset value, accruals, deferrals)
Supporting on a smooth technical interface to the clients accounting system for both accounting and tenancy master data
Calculation of VAT deduction level by property
VAT reconciliation by property
Monthly quality review, management and reporting of correct tenancy master data maintenance on MRI
Ongoing:
Compliance with filing and reporting legislation to ensure all deadlines for preparation of income tax, VAT, filing of accounts, etc. are met
Day to day accounting issues
Liaising with managing agents and members of the wider Nuveen Real Estate team to deliver process standardisation and efficiencies
Providing assistance to the Fund Manager on purchases and acquisitions where applicable
Providing assistance to the Fund Manager in efforts to grow the Fund and potential restructuring of the Fund
Preparing and reviewing reportings to various internal departments (Performance, Treasury, etc.)
Develop and maintain close relationship with external advisors and service providers (i.e. managing agents, service-KVGs, auditors, tax advisors, corporate accountants) as well as Fund Managers, Asset Managers and Fund Finance
Clarify ad-hoc accounting queries with external property and fund accountants
Close interaction with other Nuveen Real Estate offices globally and assisting with all reporting requirements
Ensure 4-Eye-Review where applicable for important, complicated reports and analysis and preparation and ongoing update and maintenance of process descriptions
General:
Managing team interactions – internal (VAT, operations, treasury, fund management) and external (administrators, Service-KVG, auditors, tax advisors, managing agents, banks, etc.) as required
Liaising with all parts of Nuveen Real Estate as appropriate to ensure that all financial and operational matters are dealt with and managed
Additional ad-hoc project work will be required
Invoice approvals
Cash management
Ad-hoc queries
Assist with due diligence work on investment/divestment activity
Support on IT projects
Technical Skills & Qualifications Required
Experienced people leader respecting and supporting NUVEENs individual culture, goals and behaviour
Qualified accountant (ACA/ACCA/CIMA or equivalent like Bilanzbuchhalter IHK or Assistant tax consultant)
Property and/or Fund accounting experience
Good knowledge of Excel, Word, Outlook & accounting systems (MRI experience desirable)
Working knowledge of local accounting standards
Good knowledge in tax law is desirable
Fluent German and English skills are essential
Competencies Required
Result and deadline driven - Use own initiative to identify any problems and deliver solutions
Team player - close liaison with fund management and other areas of the finance and operations team, as well as external advisers
Communication & presentation - clarity of presentation of information
Teamwork/Commercial - Support the other members of the Finance team and Fund teams
Act in line with Nuveen Real Estate’s Company Values (role model)
Mature and confident, able to deliver against objectives and to manage internal and client relationships
Good analytical, planning and organizational skills
Interested in investment law, real estate funds and transactions
This role requires no regulatory designation.
Nuveen is committed to providing equal opportunity across all employment practices and we believe our employees have a right to a diverse and inclusive workplace.
Nuveen offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities. Please contact ta@nuveenglobal.com should you require any assistance.
Related Skills
Accountability, Accounting Standards, Business Acumen, Client Relationship Management, Collaboration, Communication, Compliance, Data-Driven Business Intelligence, Due Diligence, Executive Presence, Financial Acumen, Financial Modeling, Financial Risk Management, Financial Statements, Fund Accounting, Market/Industry Dynamics, Stakeholder Engagement, Story Telling
Company Overview
Nuveen is the investment management arm of TIAA. It is one of the largest global asset managers with specialist knowledge across a wide array of asset classes, including fixed income, listed equities and alternatives. Nuveen is driven not only by the independent investment processes across the firm, but also the insights, risk management, analytics and other tools and resources a truly world-class platform provides. As a global asset manager, our mission is to work in partnership with our clients to create outcome-focused solutions to help them secure their financial future. For more information about the firm please visit our website at www.nuveen.com
Accessibility Support
TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities.
If you are a U.S. applicant and desire a reasonable accommodation to complete a job application please use one of the below options to contact our accessibility support team:
Phone: (800) 842-2755
Email: accessibility.support@tiaa.org
Privacy Notices
For Applicants of TIAA, Nuveen and Affiliates residing in US (other than California), click here (https://www.tiaa.org/public/tiaa-nuveen-privacy) .
For Applicants of TIAA, Nuveen and Affiliates residing in California, please click here (https://www.tiaa.org/public/tiaa-nuveen-ca-privacy) .
For Applicants of Nuveen residing in Europe and APAC, please click here (https://www.tiaa.org/public/nuveen-eu-uk-privacy) .
TIAA started out over 100 years ago to help ensure teachers could retire with dignity. Today, many people who work at not-for-profits rely on our wide range of financial products and services to support and strengthen their financial well-being.
Privacy Notices
For Applicants of TIAA, Nuveen and Affiliates residing in US (other than California), click here (https://www.tiaa.org/public/tiaa-nuveen-privacy) .
For Applicants of TIAA, Nuveen and Affiliates residing in California, please click here (https://www.tiaa.org/public/tiaa-nuveen-ca-privacy) .
For Applicants of TIAA Global Capabilities, click here (https://www.tiaa.org/public/support/privacy/tiaa-global-capabilities-privacy-notice) .
For Applicants of Nuveen residing in Europe and APAC, please click here (https://www.tiaa.org/public/nuveen-eu-uk-privacy) .
Nondiscrimination & Equal Opportunity Employment
TIAA is committed to providing equal opportunity across all employment practices and we believe our employees have a right to a diverse and inclusive workplace.
EEO is the Law (https://assets.phenompeople.com/CareerConnectResources/TIAAGLOBAL/documents/22-088_EEOC_KnowYourRights-1688394514088.pdf)
Pay Transparency
Philadelphia Ban the Box (https://www.phila.gov/media/20210423160847/Fair-Chance-Hiring-law-poster.pdf)