Groma is blending real estate and technology to unlock a new real estate asset class while making it easier for everyone, from institutional investors to the residents in our buildings, to participate in ownership. Our property technology platform uses AI to bring new efficiencies to the small unit count multifamily sector, enabling us to efficiently acquire, upgrade, and operate these 2-20 unit multifamily buildings and bring institutional performance to this massive but historically overlooked sector. Our investor technology platform makes owning these assets accessible to a broad array of investors, with bespoke vehicles available to institutional and family office investors and our flagship vehicle, the blockchain-powered GromaREIT, available to everyone, with a special focus on enabling ownership for the residents in our buildings. Visit www.groma.com to learn more about us.
About the Role
We are seeking a highly-motivated and detail-oriented individual to join our Fund Administration team and play a crucial role in supporting the management of our investment funds. This position will work closely with the Accounting, Investor Relations & Legal teams to operate Groma’s Fund Administration Department. The primary goals of the Fund Administration Department are to complete timely and accurate reporting requirements and build out the internal capabilities of our own Fund Administration Department.
As the second member of the Fund Administration Department at Groma, this role will be hands-on and allow you to contribute to many areas of a growing, early-stage business. Below is a non-exhaustive list of attributes and responsibilities:
Job Responsibilities
- Provide expertise in a broad range of fund administration functionalities and support the building of in-house capabilities, including, policies and procedures as well as engineered software tools.
- Support the quarterly reporting process across all funds by working closely with Investor Relations, Engineering, Accounting and professional Fund Administrators support services to prepare fund performance metrics and investor communications.
- Work closely with the Director of Fund Administration to execute on the Investment, and Capital Call and Distribution processes through the preparation of supporting schedules and documentation.
- Construct and operate key computations for funds, including but not limited to; Net Asset Value, waterfall distribution models, management fee, performance fees, funds from operations, free cash flow.
- Maintain the general ledgers and books and records through; monthly bank reconciliations, recording of accruals, setting up bill payments, as well as partner capital account and cap table maintenance.
- Perform monthly closing of books to produce audit ready documentation and reconciliations.
- Assist in the preparation and maintenance of financial statements including, disclosures and reports for real estate investment funds and ensuring compliance with regulatory requirements and internal policies.
- Work closely with auditors and liaise with internal teams to produce supporting documentation necessary to satisfy audit standards.
- Assist with purchase price and valuation computations ensuring both are compliant with internal policies.
- Support tax compliance process including, preparation of Forms 1099 and working with tax preparers to complete tax returns and K-1s.
Curious about the industry
- Curious to learn the real estate market and blockchain technology; understanding business requirements and constraints.
Flexible in a growing environment
- Comfortable working on a broad set of projects and in an environment with frequent change.
- Experience within high-growth startups is a plus but not a requirement. (Willingness to exist within a high-growth startup environment, with the pros and cons that brings, is a requirement!)
Qualifications
- BA/BS in accounting or finance or equivalent field required, other relevant advanced degree and/or certification, such as a MSA or CPA highly preferred.
- 3+ years experience in an accounting role, ideally at a private equity firm or fund administration company.
- Relevant experience in fund administration, accounting, or finance for real estate and REIT investment funds.
- Familiarity with fund administration compliance requirements and testing protocols (including regulatory, tax, governing fund document, and privacy/security).
- Experience with GAAP standards and SEC requirements; understand financial and administrative policy development and design of internal control structures and how to implement them.
- Demonstrated ability in managing tax, regulatory, and SEC compliance.
- Excellent analytical, communication, and problem-solving skills.
About our Culture
At Groma, we’re looking to build something big and are on a fast growth trajectory. While a healthy work-life balance is important to our team, we want to be upfront that there may be times when we expect commitments outside of the standard 9-5. We strive to respect individuals and their needs while also acknowledging the reality that we have a small team that is trying to accomplish some very ambitious goals in a short time period. We are also focused on maintaining our dynamic in-office culture at Groma’s headquarters in beautiful downtown Boston, Massachusetts.
We believe that in-person collaboration and spontaneous interpersonal interaction is critical to the company’s success at this stage. Also, our office is great. We own the whole building and have made it very much our own space. We’ve got a gym, shower/locker rooms, a game room, a rooftop garden, and all the normal stuff to make an office a comfortable work environment and a fun place to be. We understand that everyone will need flexibility from time to time, but want to be transparent with this expectation.We have an ever-evolving list of values and conventions that guide how we operate as a company, but here are some of our core ones:
- We approach our work with pragmatic idealism that enables us to focus on our desire to make the world a better place in ways big and small while also being open to intelligent compromises that accelerate us on our path to serve our broader societal goals.
- Our whole team believes strongly that the challenges we are trying to solve require effective teams, not individual heroes.
- We have complex conversations well. We sit at the intersection of housing and blockchain policy, both nuanced topics with real-world impacts. We pride ourselves on being thoughtful, seeking the best solutions to real-world challenges, and implementing them effectively in the real world.
Benefits & Perks
- Competitive salary for the Boston area
- Early stage equity in a quickly growing startup
- 5% 401k match
- Fully covered high-quality health and dental insurance plans
- Fully covered commuter passes for bus, subway, boat, or commuter rail
- Unlimited PTO
- 13 official company holidays
- 1 floating holiday: We recognize that there are lots of holidays that are meaningful to different people in different ways and we want to celebrate that by enabling team members to have the time/space to commemorate those days however is appropriate, and using it as an opportunity - if they’d like to - to share the meaning of that day with the broader team
- Optional pet insurance for cats, dogs, lizards, frogs, and waterfowl
- A beautiful office in downtown Boston with a gym, locker rooms, game room, rooftop garden, and several catered lunches a week
