Capital Markets Controller
About the role
The Controller – Capital Markets & Management Company plays a pivotal role in shaping the financial foundation of Morgan Properties’ expanding investment platform. Reporting directly to the Chief Financial Officer, this newly created position carries a dual mandate: serving as the lead accounting and reporting officer for the Capital Markets platform — encompassing newly formed investment funds, Freddie Mac K-Series B-Piece holdings, repo facilities, and preferred equity vehicles — while simultaneously overseeing the financial reporting and accounting operations of the Management Company that supports the broader 400+ community multifamily portfolio.
Responsibilities
Establish and manage all accounting policies, procedures, and controls for new investment funds, including the Bridge Lending/Repo Fund, B-Piece Fund (including any series structures), and dedicated credit strategies in preferred equity, mezzanine, bridge, and stretch senior lending.
Oversee the full accounting life cycle for the Bridge Lending Fund, including origination accounting, fair value vs. amortized cost elections, CECL reserve modeling, repo facility accounting under ASC 860, and mark-to-market and hedge accounting as applicable.
Lead accounting and reporting for the B-Piece Fund, with particular depth in Freddie Mac K-Series bond mechanics — including bond premium/discount amortization, effective interest calculations across the existing B-Piece portfolio and future acquisitions, series-level waterfall tracking, NAV calculations, investor capital account maintenance, and loss position monitoring.
Manage preferred equity investment accounting across the active pipeline, including accrued return tracking, PIK income recognition, and equity method vs. cost method analysis.
Prepare and review monthly, quarterly, and annual fund financial statements and investor reports in accordance with GAAP and applicable fund governing documents.
Assist in the compilation and maintenance of formal investment track records for preferred equity and direct lending activity in support of investor marketing and any future GIPS audit.
Coordinate with external auditors and legal counsel on fund structure, reporting obligations, and regulatory compliance.
Establish treasury controls, payment authorization workflows, and cash management procedures appropriate for a growing multi-fund platform.
Oversee all general ledger accounting, accounts payable, accounts receivable, payroll accounting, and fixed asset management for the Management Company.
Ensure timely and accurate preparation of monthly Management Company financial statements, including income statement, balance sheet, and cash flow statement.
Manage the intercompany billing and cost allocation process between the Management Company and the property-owning entities across the 400+ community portfolio.
Maintain and enhance internal controls over financial reporting for the Management Company in compliance with company policy and GAAP.
Partner with operational leadership to provide financial analysis, budgeting support, and variance reporting for management fee income, G&A expenses, and overhead allocation.
Oversee and mentor the Management Company accounting team, setting clear expectations for accuracy, timeliness, and professional development.
Evaluate and implement fund accounting and investor reporting software appropriate for the platform (e.g., Juniper Square, Yardi Investment Manager, Investran, or equivalent), ensuring compatibility with investor portal and performance reporting needs.
Develop and document accounting policies specific to Capital Markets activities, ensuring alignment with GAAP, investor requirements, and any future regulatory framework.
Partner closely with the CFO, Treasury, Tax, Legal, and the Capital Markets investment team on deal structuring, compliance, and financial strategy.
Hire, develop, and manage accounting staff as the platform scales; build a team culture grounded in accuracy, controls, and accountability.
Qualifications
Bachelor’s degree in Accounting, Finance, or a related field; CPA a plus.
Minimum 10 years of progressive accounting experience, with at least 5 years in fund accounting, investment accounting, or structured finance.
Demonstrated knowledge of repo and securities lending accounting (ASC 860).
Experience with B-piece or subordinate bond accounting in a CMBS or CRE context.
Experience with series fund structures, registered investment vehicles, or RIA-regulated fund platforms.
Working knowledge of preferred equity and mezzanine structures and related income recognition.
Strong technical GAAP background: ASC 320, ASC 323, ASC 326 (CECL), ASC 810, ASC 815, ASC 860.
Proven ability to build accounting processes and teams in a fast-paced, entrepreneurial environment.
Additional Duties
Tasks or duties not outlined in this job description may be required to contribute to the organization's success and efficiency.
Core Competencies
Analytical Thinking: Advanced
Coaching and Developing Others: Advanced
Fiduciary Responsibility: Advanced
Leadership: Advanced
Strategic Mindset: Advanced
Technical Proficiency: Advanced