Senior Manager, Development Accounting
About The Position
The Senior Manager, Development Accounting will be responsible for the accounting and financial reporting, and provide financial analysis for the land under development entities, and other development assets entities. The role will be responsible for the accounting aspect of the execution of the development closing transactions related to the acquisition, disposition, new joint ventures by analyzing development project related agreement and legal structures and by collaborating with various internal and external stakeholders (development project owner, tax, treasury, corporate, external or internal legal counsel, third party partners). This role will support the Development Group to ensure the development practices and procedures align to broader Cadillac Fairview financial standards and controls, for the development projects managed by CF and managed by the JV (residential, office, commercial, hotel, industrial, infrastructure). This role will hire, train and onboard the new development accounting team members, will produce reporting of development project KPI’s progress and support the Senior Director Development Finance by analyzing current business processes and leading the implementation of best practices for the development finance team during the overall CF’s Finance Transformation activities.
Requirements
- University degree in Business combined with CPA, CA or equivalent accreditation
- 7 – 10 years accounting experience in Commercial Real Estate with relevant experience in the related role
- Fully literate with real estate accounting policies and procedures
- Working knowledge of IFRS
- Fully computer literate, with extensive excel skills
Nice To Haves
- Knowledge of Yardi Voyager an asset
Responsibilities
- Hire, train, onboard new team members and provide technical & financial guidance and leadership
- Manages, reviews and approve the activities of direct reports to ensure the timely and accurate completion of reports in accordance with deadlines
- Provides regular evaluation of staff development needs with respect to technical requirements of their functions
- Manages the internal and external auditors through the audit process of the development projects to ensure their requests are dealt with effectively and efficiently
- Responsible for the accounting and financial reporting, and provide financial analysis for the assigned Balance Sheet, Income Statement for land under development entities, and other development assets entities for submission to the Corporate Accounting
- Responsible for the timely and accurate preparation of periodic Balance Sheet / Income Statement schedules and reconciliations for submissions to the Corporate Accounting
- Responsible to execute accounting for the development related transactions such as acquisitions, dispositions, by documenting, identifying and journalizing the accounting impact in the general ledger and collaborate with the Corporate Accounting team to ensure compliance
- Responsible for other development related accounting functions such as recording and reconciliation of Cash Call, Management Fee, Development Fee, Letters of Credit Fee
- Review and Approve the monthly development project draws
- Review and Approve the monthly & quarterly cash calls
- Produce Monthly and Quarterly report to the JV partners for projects managed by CF and any other reporting to ensure compliance with the joint venture agreements
- Review Third Party Reports submitted to CF, and approve the accounting recording of monthly transaction in CF records
- Oversee the development accounting direct reports to ensure the timely and accurate information is provided to development group to assist with decision making
- Prepare the monthly and quarterly analysis of development projects KPI for submission to the Senior Director Development and to the EVP Development
- Support the Senior Director Development Finance with the 3yr and 10plan forecasting
- Support the Senior Director Development Finance by analyzing current business processes and take leadership role in the implementation of best practices processes for the development finance team during the overall CF’s Finance Transformation activities
- Assist in special and ad hoc projects as required
Benefits
- performance – based incentive plan
- comprehensive pension and benefits plan
- paid time off including vacation, well-being & volunteer days
- support for continued growth and development
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What This Job Offers
Job Type
Full-time
Career Level
Manager
