Assistant Controller - Mall Accounting

Job Location US-TX-San Antonio
# of Openings

Company Overview

Acquiring, developing, financing and managing quality real estate investments since 1982, USAA Real Estate provides superior returns investing across the risk spectrum, with expertise in office, industrial, multi-family, retail and hotel assets. Investing for the USAA membership and aligned with more than one hundred investment partners across the world, we maintain an “Investor First” mindset with a significant co-investment in all programs. As the real estate investment management arm of USAA, a leading financial services company serving military families since 1922, USAA Real Estate has achieved a track record of success living up to the high standards set at USAA and sharing its culture. USAA’s balance sheet puts us in a position of strength – well capitalized to invest in multiple strategies. This is a distinct competitive advantage. USAA Real Estate is headquartered in San Antonio, Texas.

Job Description

The Assistant Controller - Retail Property Accounting is responsible for the financial accounting and reporting of the operations of real estate properties acquired and/or developed through the company’s various investment/fund vehicles. This role will primarily focus on Retail properties but may support office, multi-family, industrial, hotel and mixed-use properties.   


  • Provide oversight, guidance, coaching and training to the third-party accountants (Joint Venture Partners, Operators, etc.) that provide accounting services on assigned investment properties. Participate in the on-boarding process.
  • Review lease related agreements and properly record/review lease related activity.
  • Ensure the property level activity is recorded, reviewed and approved in a timely manner to meet monthly and quarterly reporting deadlines.
  • Review purchase and sale agreements for accounting impact and ensure the proper recording of the acquisition and disposition entries.  Provide all necessary documentation to the team preparing the purchase price allocations (PPAs).  Assist in the review of such PPAs for accuracy and book adjustments as needed to the original acquisition entry.  
  • Work with capital markets to provide any necessary financial information for new debt, refinancing or payoff.  Calculate and/or review debt covenant tests for debt. 
  • Assist property management with questions related to Yardi accounting processes and USAA RealCo’s accounting policies and procedures.  
  • Ensure the timely reconciliation of WIP accounts and that assets are placed in service as appropriate. 
  • Calculate the property management and construction fee calculations for compliance with property management agreements. 
  • “GAAP up” property level cash basis budgets so that fund accounting team can layer in entity level activity.
  • Provide operating cash flow projections to assist in forecasting investment entity/fund capital calls and distributions. Assist with the preparation of quarterly/annual financial statements or other reporting requirements.
  • Assist the tax personnel with preparation of schedules.
  • Act as a point of contact for Asset Management and property managers for all accounting related matters on assigned investment properties. Assist the property managers with the annual common area maintenance calculations.
  • Demonstrate leadership skills by volunteering for special projects in the department. Where there is not a third party accountant, perform the property level accounting.
  • Prepare/review market value adjustments and mark to market entries on a quarterly basis, if needed.
  • Perform other duties as assigned.


  • Bachelor's degree in Accounting/Finance
  • 2+ years experience in Retail Property accounting, with at least 5 years of relevant commercial real estate accounting experience 
  • Joint venture/partnership accounting experience
  • Proficient in Microsoft Office
  • Excellent verbal and written communication skills
  • Yardi experience; or comparable accounting system experience
  • Qualifications may warrant placement in a different job level

Physical Requirements:


  • Regularly required to sit for extended periods of time; frequently required to stand, walk, and use business equipment daily such as computer, copier, fax, telephone, etc.; frequently required to reach overhead, bend, and lift objects of up to 25 lbs.
  • Ability to handle stress caused by multiple priorities, and other unforeseen situations associated with the organization.
  • Eyesight and hearing must be correctable to standard level.


At USAA Real Estate our employees enjoy generous benefits packages including comprehensive medical, dental and vision plans, 401k, USAA Membership eligibility, educational and professional designation assistance, business casual dress attire and much more! Qualified applicants must successfully complete a pre-employment background and drug screen.  The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.


USAA Real Estate is an Equal Opportunity and Affirmative Action Employer of Females, Minorities, Veterans and Disabled.


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