Property Accountant

VentureCrowd is Australia's leading digital investment platform, leveraging the power of crowdfunding for investments that back a better future.

We are here to prove that investments can be accessible and impactful by providing founders and property developers with a platform to find and capitalise on their crowd; and investors the opportunity to directly contribute to ventures and property projects they believe in. Together, we're fostering a future that uplifts the crowd.

Trust, authenticity, reliability and vulnerability in a workplace and community are central criteria in choosing where you work and invest your energy.

We’re looking for an experienced finance professional to join the team here at VentureCrowd.

VentureCrowd is a successful and fast-growing Wealthtech startup company providing Australia’s leading alternative assets crowdfunding platform. We facilitate investments into alternative assets, including venture capital, property and credit products through our platform.

As a Property Accountant, you will be responsible for the financial management and corporate governance of the Special Purposes Vehicles (SPVs) that own and run the property development on behalf of syndicates of investors. These assets range from land subdivisions to medium-density developments, through to commercial opportunities.

This is an exciting opportunity for a Financial Accountant who has previous property experience to join our growing team as we explore new opportunities in property.

Project Financial Accounting, Corporate Governance and Treasury

Treasury

• Weekly bank reconciliations of SPV entities.
• Weekly AR & AP, including email management & invoice data entry.
• Conduct weekly/fortnightly meetings with the Development Manager for each project to set the week’s pay run and update project cash flow requirements.
• Xero cost code management
• Liaise with the Fund Accountant and Corporate Accountant for intercompany transactions; invoicing & corresponding payments.

Project Financial Accounting

• Become intimately familiar with the Project Cash Flow model and including the Dashboard. Review with the Development Manager monthly to ensure the model’s assumptions, integrity and accuracy reflect the Project team delivery strategy
• Possess a broad understanding of key delivery documents to the extent required to identify risk and to accurately model the project assumptions. These may include loan agreements, Funding IMs, Trust Deeds, Trust Units - Terms of Issue, Infrastructure Agreements, Major Supply Agreements with Creditors
• Extract & batch weekly payment runs in line with the Development forecast.
• End-of-month reconciliations - P&L & BS and Project Cash Flow Models
• Preparation of monthly reporting for review by the Development Manager, Head of Property & Fund Manager comprising Project Control Group (PCG) meeting agenda content consisting primarily of the Dashboard preparation and demonstrating accurately the funds management outcomes.
• Collaboration with Development Managers on reporting variances and project performance
• Collaboration with the capital raising team to ensure projected forecasts of equity injections are in line with required capital cash flow.
• Collaborate with the Fund Manager to ensure expected redemptions and coupons are forecast accurately in line with agreed strategies
• Identify gaps in cash flow requirements and provide recommendations to the DM and FM as to remedies to meet the obligations to stakeholders, creditors and investors
• Forecast, accrue and expense Development Management and Funds Management Fees in line with key delivery documents.
• Actively liaise with key creditors to manage payments
• Engage with Council and Authorities to forecast and expense holding expenses including rates, taxes, and utilities.
• Review new business development feasibility and cash flow models to ensure the model’s assumptions, integrity and accuracy reflect the Project team delivery strategy

Corporate Governance

• Management of tax compliance in conjunction with outsourced tax agents.
• Ensure appropriate documentation is in order for all transactions, including but not limited to:
• Application for shares or Drawdown request (funding via our internal capital raising team)
• Share certificate issuance and necessary updates in coordination with CoSec.
• Redemption of shares (where applicable)
• Process improvement and streaming
• Ad-hoc administrative and operational support to the Development Manager
• Prepare a Monthly and Annual Schedule of Activities to include all the Key Accountabilities and Outputs as a means to establish your weekly goals, self-manage time, and effectively communicate with the Leader and Project Team.

You will need the following work experience/skills:

• At least 5 or more years experience as an Accountant in the area of property.
• Experience in working with sophisticated property developments, including the funding & financial forecasting.
• Experience in the preparation and management of monthly reconciliations
• Capacity to work with Development Managers to prepare Board Reports commentary on variances between IM, Actuals and IM (Live).
• Demonstrable experience in Cost of Sales and Work-in-Progress journal entries posted monthly for all projects.
• Experience to ensure financial products offered by VentureCrowd are paid on time in line with their agreements.