USAA Real Estate Company Jobs

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USAA Real Estate Company Real Estate Investment Accounting Controller/Manager (San Antonio, TX or Addison, TX) in San Antonio, Texas

Company Overview

Acquiring, developing, financing and managing quality real estate investments since 1982, USAA Real Estate provides superior returns investing across the risk spectrum, with expertise in office, industrial, multi-family, retail and hotel assets. Investing for the USAA membership and aligned with more than one hundred investment partners across the world, we maintain an “Investor First” mindset with a significant co-investment in all programs. As the real estate investment management arm of USAA, a leading financial services company serving military families since 1922, USAA Real Estate has achieved a track record of success living up to the high standards set at USAA and sharing its culture. USAA’s balance sheet puts us in a position of strength – well capitalized to invest in multiple strategies. This is a distinct competitive advantage. USAA Real Estate is headquartered in San Antonio, Texas.

Job Description

The Real Estate Investment Accounting Controller/Manager is responsible for the financial accounting and reporting of the operations of real estate properties acquired and/or developed through the company’s various investment/fund vehicles. These may include office, multi-family, industrial, retail, hotel and mixed-use properties. This position oversees Assistant Controllers and Senior/Staff Accountants in Investment Accounting and works closely with the members of the Fund Accounting team that is responsible for the accounting and reporting of the investment entities and fund vehicles that own interests in the real estate properties on which the Investment Accounting team is reporting.

Essential Duties:

  • Lead the professional development, mentoring, training and coaching of assigned team members and, as needed, others within the accounting team. Using the USAA Real Estate Performance System, determine goals, provide coaching and support, and provide feedback including semi-annual evaluations.

  • Provide guidance, coaching and training to third parties, including participating in the “on-boarding” process of new USAA Real Estate third party relationships. This includes assisting in the setup of properties, leases/tenants, vendors/payables, property level bank accounts and other property level needs.

  • Act as the primary point of contact for Asset Management for all accounting related matters on assigned investment properties. Work with the asset management and the fund accounting teams to provide operating cash flow projections to assist in forecasting investment entity/fund capital calls and distributions.

  • Assist the tax personnel with preparation of schedules, providing underlying support and/or performing reviews as needed in connection with the timely preparation of federal and state tax returns including franchise taxes, personal property taxes, and other business taxes.

  • Assist the fund accounting team with the preparation of quarterly/annual financial statements including providing details of transactions, underlying investment schedules, minimum rent disclosures, and other documentation and calculations needed for disclosures in accordance with GAAP.

  • Perform research on accounting treatments for complex accounting transactions. Present potential solutions with adequate support.

  • Maintain an understanding and inform others of new technical accounting developments, regulatory changes, management requirements, accounting system updates, procedures, etc. Assist in the incorporation and implementation of such changes into USAA Real Estate’s current policies and procedures.

  • Ensure the property level activity is recorded, reviewed and approved in a timely manner to meet monthly and quarterly reporting deadlines.

  • Supervise and assist the investment accounting team and external accountants (JV Partners or service providers) with the review and proper recording of lease related agreements and activity, including: TI allowances, lease incentives, bargain renewal and termination options, rent escalations, straight-line rent, CAM rule set-ups, CAM true-ups and reconciliations, and assessing the impact of differing move-in and commencement dates.

  • Assist the acquisitions and dispositions teams in all property transactions as needed including proration calculations, A/R aging review, and gain/loss projections.

  • Review purchase and sale agreements for accounting impact and ensure the proper recording of the acquisition and disposition entries. Provide all necessary documentation to the team preparing the purchase price allocations (PPAs). Review such PPAs for accuracy and book adjustments as needed to the original acquisition entry.

  • Work with capital markets to provide any necessary financial information for new debt, refinancing’s or payoffs. Calculate and/or review debt covenant tests for property level debt. Ensure required reporting to lenders is done in a timely manner.

  • Assist property management with questions related to Yardi accounting processes and USAA Real Estate’s accounting policies and procedures.

  • Supervise the timely reconciliation of WIP accounts and ensure that assets are placed in service as appropriate. This includes reviewing the capitalization policy for proper treatment and assisting in determining the correct in-service dates and useful lives.

  • Review and approve the property management and construction fee calculations for compliance with property management agreements. Ensure that they are timely processed.

  • “GAAP up” property level cash basis budgets so that fund accounting team can layer in entity level activity.

  • Perform other duties as assigned.

At USAA Real Estate our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, USAA Membership eligibility, educational and professional designation assistance, business casual dress attire and much more! Qualified applicants must successfully complete a pre-employment background and drug screen. The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.

USAA Real Estate is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.


Minimum Qualifications:

  • Bachelor's Degree in Accounting or Finance.

  • CPA Required.

  • 5+ years of accounting experience with solid fundamental accounting skills.

  • 3+ years of managerial experience.

  • Real estate and joint venture/partnership accounting experience required.

  • Proficient in Microsoft Office.

  • Excellent verbal and written communication skills.

  • Experience with Yardi Voyager and/or Investment Management software preferred.

  • Qualifications may warrant placement in different job level.

Physical Requirements:

  • Regularly required to sit for extended periods of time; frequently required to stand, walk, and use business equipment daily such as computer, copier, fax, telephone, etc.; frequently required to reach overhead, bend, and lift objects of up to 25 lbs.

  • Ability to handle stress caused by multiple priorities, and other unforeseen situations associated with the organization.

  • Eyesight and hearing must be correctable to standard level.

ID 2019-1887

# of Openings 1