RMC Real Estate Controller

About Rice Management Company

Rice Management Company (RMC) is a division of Rice University that serves as the steward of the University’s $8B endowment. The team of 40 plus investment professionals at RMC employ an actively managed investment strategy and has generated top quartile returns over the past decade. The work that RMC’s team does plays a vital role for Rice, as distributions provide approximately 40% of the university’s operating budget and support the university’s core endeavors: path-breaking research, unsurpassed teaching, and access for students regardless of ability to pay. The endowment ranks in the top 20 largest endowments of private research universities in the United States.

About RMC’s Real Estate Portfolio

As part of the $8B endowment, RMC’s dynamic $1B real estate portfolio includes strategic real estate in Houston and high-quality joint venture investments in select American and European markets.

Rice Village - The 20 acre urban shopping district immediately adjacent to Rice University. This investment includes 210k sq. ft tenanted by some of the nation’s most recognized retail brands and some of Houston’s most exciting first-to-market stores and restaurants. The Village includes 13 acres of near-term development opportunities building upon its established character.

The Ion District - A currently-under-development three-million square foot mixed-use innovation district in Midtown Houston with over $1B of future investments in new commercial office, apartment, and retail buildings. The District includes The Ion, a $120M innovation hub that opened in 2021 and houses startups, leading technology companies, and programming to grow Houston’s innovation ecosystem.

Joint Ventures - Five partnerships in targeted American and European markets investing in office, multi-family, mixed-use value-add projects, and new ground-up developments.

Position Summary

RMC’s real estate group is embarking on its next phase of growth and is looking for a Real Estate Controller to provide support in a financial role for all real estate activities and subsidiary entities. While the university manages the GAAP financial, accounting, and reporting operations, the Controller will focus his/her efforts on assisting the asset managers with the real estate portfolio by collecting, managing and analyzing the financial data they need to make operational and strategic decisions.

The ideal candidate has 5 -7 years of experience in real estate accounting, including experience at a real estate investment and/or development firm. A successful Real Estate Controller will focus on the oversight of details while also maintaining a big picture perspective. He/she will also have a desire to support the mission-driven work of a university endowment. The role reports to the Chief Operating Officer for RMC and works closely with the real estate leadership team to drive results with excellent management reporting.

Essential Functions

• Establishes financial and operating benchmarks, budgets, and reporting standards in conjunction with senior leadership to help management decision-making
• Produces streamlined, timely, and accurate management reporting on a regular basis, and works with applicable real estate and RMC operations teams to create applicable reporting and procedures
• Assists in the budgeting and forecasting process, prepares budget-to-actual variance reports, and periodic forecasts for pre-development, development, construction, and post-development phases
• Develops, documents, and enforces internal controls and safeguards as developed and used at RMC within the framework of the overall university
• Oversees real estate financial transactions such as preparing monthly construction draws, reconciling accounting and reporting systems to project budgets; and maintaining cash flow projections and other financial models
• Leads an in-house annual valuation process and coordinates an annual third-party audit process and prepares audit work papers, as needed
• Leads coordination with external parties, including accountants, joint venture partners, the university tax manager, and other third parties for financial statement and tax return reporting
• Serves as liaison between RMC and the university’s leadership and business services teams to ensure that real estate activities and financial transactions are appropriately reported including but not limited to revenue, expenses, and debt activity
• Oversees property tax process for directly-owned real estate
• Develops, documents, and maintains updated policies and procedures for the position
• Additional responsibilities as directed by leadership

Required Qualifications

• Bachelor’s degree in accounting or related field
• 5 years of applicable experience
• Thorough understanding and knowledge of GAAP, especially related to accounting for real estate projects, construction, applicable tax compliance, regulations, and reporting
• Effective written and verbal communication skills with ability to effectively interact with key stakeholders, colleagues, consultants, and partners
• Attention to detail with an ability to produce high-quality, accurate work in a deadline-driven environment
• Self-starter with ability to work independently with minimal supervision and collaboratively on a team
• Highest degree of personal integrity, judgement, and professional ethics

Preferred Qualifications

• CPA highly preferred
• 7+ years of applicable experience preferred
• Real estate development and investment accounting experience preferred; Big 4 public accounting experience a plus

Rice University is an Equal Opportunity Employer with commitment to diversity at all levels, and considers for employment qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national or ethnic origin, genetic information, disability or protected veteran status.