Job description
Overview:
April Housing’s long-term commitment to owning affordable housing is supported by Blackstone Funds, predominantly BREIT, a non-listed REIT. This perpetual capital vehicle provides April with a patient and flexible source of capital and plays a critical role in enabling the creation and preservation of more affordable housing. In addition to managing a growing portfolio, April Housing will ensure assets in the existing portfolio remain affordable and in compliance with all rent regulations while making significant improvements and aligning the operations with April Housing's Standards of Excellence in Residential Operations.
The AVP, FP&A will join a team of financial professionals responsible for monthly and quarterly financial reporting, annual budgeting and reforecasting, portfolio analytics, and market research. This role will interact extensively with April Housing asset management and executive leadership, Blackstone multifamily asset management, Revantage ( April Housing’s affiliated real estate services company) accounting and treasury, and April Housing operating partners. AVP – FP&A will be responsible for critical financial reports and analysis presented to Blackstone and April Housing executive leadership team. The position reports to the VP – FP&A and will have 3-5 direct reports.
PREFERRED QUALIFICATIONS:
EEO Statement
April Housing is a leading owner and operator of high-quality affordable housing throughout the United States. Founded in 2022 and headquartered in Los Angeles, April Housing is the asset management business that oversees Blackstone's affordable housing and LIHTC portfolio. April oversees a portfolio of over 85,000 affordable housing units in approximately 650 communities. April Housing seeks to preserve critical affordable housing stock while providing best in class management and high-quality housing. April is committed to being a fair, transparent, and responsible owner.
April Housing’s long-term commitment to owning affordable housing is supported by Blackstone Funds, predominantly BREIT, a non-listed REIT. This perpetual capital vehicle provides April with a patient and flexible source of capital and plays a critical role in enabling the creation and preservation of more affordable housing. In addition to managing a growing portfolio, April Housing will ensure assets in the existing portfolio remain affordable and in compliance with all rent regulations while making significant improvements and aligning the operations with April Housing's Standards of Excellence in Residential Operations.
In its pursuit of excellence, April Housing is looking for individuals who share in its mission to provide high-quality housing to affordable residents.
The AVP, FP&A will join a team of financial professionals responsible for monthly and quarterly financial reporting, annual budgeting and reforecasting, portfolio analytics, and market research. This role will interact extensively with April Housing asset management and executive leadership, Blackstone multifamily asset management, Revantage ( April Housing’s affiliated real estate services company) accounting and treasury, and April Housing operating partners. AVP – FP&A will be responsible for critical financial reports and analysis presented to Blackstone and April Housing executive leadership team. The position reports to the VP – FP&A and will have 3-5 direct reports.
As of the date on which this job advertisement is posted, the Company anticipates that the base salary range for this role is $125,000-$162,000, 20% bonus target (this represents the presently-anticipated low and high end of the Company’s base salary range for this position). Total direct compensation may also include discretionary bonus and/or incentive compensation. Actual base salary range may vary based on various factors, including but not limited to location and experience.
Responsibilities:
What you will do:
As the AVP, FP&A, the successful candidate will oversee and manage the annual budget and reforecast processes: develop budget timeline, policies, and procedures; determine budget drivers and performance goals; utilize budgeting templates (utilizes Oracle PBCS) and tools to develop initial budget; work interactively with operating partners to finalize budget; prepare summary reports and communicate to executive leadership team and Blackstone. The successful candidate will also:
- Perform or review ad hoc analyses prepared by the team, with attention to detail and the ability to create new analyses and reports from scratch.
- Perform detailed review of financial variance reports prepared by operating partners and utilize data mining to identify any operational or performance concerns and the underlying drivers. Proactively present findings to asset management and executive leadership teams.
- Support the asset management team in preparation of monthly performance reviews with leadership and other functional teams
- Develop proficiency of the methodology and sourcing of data from various research and industry data publications including the RealPage suite of products (YieldStar, Performance Analytics, Investment Analytics, Axiometrics/MPF), Green Street, Real Capital Analytics, Bureau of Labor Statistics, etc.
- Compare April Housing performance to the public multifamily REITs and present results at a company and market level to the executive leadership team. Become an expert in reviewing REIT earnings releases, public filings and supplemental financial reports.
- Preparation and review of quarterly board book: work with Financial Reporting Team on high profile deliverable presented to Blackstone senior real estate leadership team at the quarterly board meeting. Includes high level presentation of multifamily industry trends, capital markets activity, portfolio performance, and major capital projects and other company initiatives.
- Vigilantly and proactively participate in a continual process improvement initiative. Develop processes that save time while maintaining the highest quality standards, design data rich and aesthetically pleasing financial reports, leverage internal and external resources to efficiently achieve goals.
What you should have:
- 8+ years of relevant experience in FP&A and/or financial reporting within a commercial real estate firm.
- Bachelor’s degree in finance, real estate or accounting.
- Proficiency with Excel and PowerPoint: efficient database sourcing, utilization of standard Excel functions (sumif/s, v/hlookup, index/match, indirect, pivot tables, data tables, filters, and keyboard shortcuts) to aggregate and summarize data, creation of graphs in proper context of data presented, use of best practices for insuring data integrity, design of executive/board level presentation quality outputs. Advanced skills with Yardi preferred.
- Strong ability to analyze and synthesize data that drive results.
- Strong work ethic: strength to thrive in a dynamic and demanding work environment, ability to meet critical deadlines, capable of critical self-reflection and honest assessment of performance, desire to learn and continued self-improvement, motivated by desire to achieve excellence.
- Excellent oral and written communication skills, self-confidence to lead a meeting and discuss financial results with executive leadership team or Blackstone asset management team.
- Basic understanding of accounting (general ledger, trial balance, and capital policy) is a plus
PREFERRED QUALIFICATIONS:
Candidates with experience with industry specific data and software will be given strong preference.- Knowledge of Oracle PBCS or similar budgeting software is a plus.
- Strong preference for multifamily experience.
EEO Statement
Our company is
proud to be an equal opportunity employer.
We celebrate diversity and are committed to creating an inclusive environment for all employees.
Our employment decisions are based on individual qualifications, job requirements and business needs without
regard to
race, color, marital status, sex, sexual orientation, gender identity and/or expression, age, religion, disability, citizenship status, national origin, pregnancy, veteran status and
or any
other legally protected characteristics. We are committed to providing reasonable accommodations, if you
need an accommodation to complete the application process,
please email talent@revantage.com.
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