Senior Property Accountant

QuadReal Property Group, LP; Toronto; On-site; CAD 80,000 - 90,000; Full time

Benefits offered by this job

Performance-based incentive plan

Comprehensive health & dental benefits

Pension plan

Paid time off

Job summary

QuadReal Property Group, LP is seeking a Senior Property Accountant in Toronto to provide accurate financial information for our property portfolio. Reporting to the Accounting Manager, you will manage monthly/quarterly statements, balance sheet analysis, and lease-related accounting in a fast-paced real estate environment.

The role requires CPA designation or substantial full-cycle property accounting experience, 5+ years, and familiarity with Yardi.

Qualifications

• CPA designation or relevant work experience in full cycle property accounting.
• Minimum 5 years commercial/retail property accounting experience, including some supervision of staff.
• Previous retail property accounting experience would be an asset.

Responsibilities

• Produce monthly and/or quarterly financial statements as specified by QuadReal policy/requirements
• Review balance sheet accounts and reconcile working papers
• Set up and maintain tenant recoveries in Yardi and record operating costs and adjustments
• Monitor cash flow items including distributions, cash calls and HST reconciliations
• Prepare intelligent property budgets and reforecasts within deadlines

Skills

Effective communication

Education

CPA designation or relevant work experience in full cycle property accounting

Tools

Yardi

Job description

About QuadReal Property Group

QuadReal Property Group is a global real estate investment, development and operating company headquartered in Vancouver, British Columbia. Its assets under management are $98.5 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities globally for investments in equity and debt in both the public and private markets. QuadReal invests directly through operating platforms in which it holds an ownership interest and via programmatic partnerships. QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come. QuadReal: Excellence lives here. www.quadreal.com

Role Description

Reporting directly to the Accounting Manager, the Senior Property Accountant is responsible for adding value to QuadReal by providing meaningful financial information that is professional, accurate and free of material misstatements, while living and embodying the QuadReal values

Responsibilities

• Produce monthly and/or quarterly financial statements as specified by QuadReal policy/requirements
• Incorporate high-level thinking and analysis when preparing financial statements and recognize when to adjust for material items and/or explain material variances
• Utilize analytical skills to review work both at high and grass-root level to present meaningful NOI analysis
• Analyze and understand all balance sheet accounts and reconcile working papers in a meaningful, organized way; ensure all processes related to balance sheet items are completed and reviewed
• Understand property expenditures and revenues; hard book expense accruals, adjusting only when necessary
• Communicate and escalate as required on a timely basis any material issues, reporting or collaboration gaps or roadblocks
• Review and approve leases and lease review checklists thoroughly and in a timely manner; ensure set-ups agree with lease language for all items including, but not limited to: rental charges, security deposits, TI and/or LLW amounts and applications thereof and correct interpretation and application of any other relevant clauses; ensure and maintain proper set-up of straight-line rent, recoveries, and any other accounting-related processes that are lease driven
• Ensure files are saved according to QuadReal standard set up on shared drive and/or Commercial Property Accounting Info Site and that they are professional and transparent
• Set up and maintain tenant’s recovery in Yardi recovery model in accordance with lease language; use Yardi recovery model to calculate and record monthly and annual operating costs and realty tax recovery adjustments, billings, and estimates
• Monitor and be aware of large cash flow items; ensure cash distributions/cash calls and HST reconciliations are completed in a timely manner and are free of material errors
• Compile audit files and supporting documentation as required for annual property audits or tenant inquiries/disputes
• Complete year end operating cost adjustments and tenant billings for assigned properties within allotted period according to requirements for asset review capital and leasing job costs monthly; ensure jobs are set up correctly with proper status and current forecast information
• Prepare intelligent property budgets and reforecasts within assigned deadlines adhering to QuadReal process
• Support acquisition and disposition activity as required including post-closing adjustments; ensure trial balances or outstanding items are cleaned up in a timely manner after disposition
• Communicate efficiently and effectively, in a professional manner, with all QuadReal employees and others outside the organization
• Support other departments as needed with reconciliations, tenant inquiries, financial analysis, etc.
• Provide supplementary reporting or details as required by the client
• Provide input/feedback for improving procedures and initiating quality and efficiency enhancements
• Able to perform difficult or complex tasks with minimal supervision; combine knowledge and skill to identify optimal solutions to problems and determine course of action
• Exhibit leadership and mentorship skills; assist or lead training and/or testing as needed
• Other duties as assigned from time to time

Experience and Qualifications

• Qualified or enrolled CPA designation or relevant work experience in full cycle property accounting
• Minimum 5 years commercial/retail property accounting experience, including some supervision of staff
• Previous retail property accounting experience would be an asset

Relationship Skills

• Ability to communicate effectively, both oral and written; ability to develop and sustain cooperative working relationships and contribute to a positive work environment; willingness to learn and contribute to a dynamic environment that includes new ideas and change

Organizational/Multi-Tasking

• Ability to allocate one’s time effectively, work under pressure, and meet tight deadlines; ability to handle multiple demands and competing priorities; ability to prioritize workload; ability to work and analyze at a high level; willingness to learn in a dynamic environment that includes new ideas and change

Decision Making Skills

• Ability to identify, analyze, and solve problems; ability to take decisive action and seek direction when needed

Computer Skills

• Intermediate to advanced skills in Excel, Word, and other Microsoft Office programs; knowledge of Yardi an asset

The expected annualized base salary range for this role is $80,000 to $90,000. Based on the position, QuadReal offers a competitive total rewards package in addition to the base pay, which may include a performance-based incentive plan, comprehensive health & dental benefits, pension plan, and paid time off. The actual salary offered will take into consideration a wide array of factors including, but not limited to, the individual’s skill, experience, education and training, the market compensation of the role, and the consideration to internal equity.

Benefits

• performance-based incentive plan
• comprehensive health & dental benefits
• pension plan
• paid time off

We value diverse experiences and perspectives. Even if your skills don’t align100% with the listed qualifications or salary range, we encourage you to apply– you may be a great fit for this role or others in our community. Applicants may also be considered for alternative positions within the organization where their qualifications and experience align more closely with available opportunities.

QuadReal Property Group will provide reasonable accommodation at any time throughout the hiring process for applicants with disabilities or for those needing job postings in an alternate format. If you require accommodation, please advise the Talent Acquisition team member you are working with and include the following: Job posting #, your name and your preferred method of contact.

Candidate must be legally authorized to work in Canada as the company does not provide work permit sponsorship for this role.

Company Culture

For 10 years, QuadReal has created spaces that enhance the lives of the people and communities we serve. Headquartered in Vancouver, Canada, we are a leading global real estate partner focused on driving meaningful impact while delivering prudent growth. With a global perspective and local expertise collected from offices across Canada, the US, Asia and the UK, our success stems from our incredible team and from our values- integrity, collaboration, performance, innovation and responsibility. Join our team today to deepen your skillset, grow your career, and make a difference. Together, we’re reimagining an industry and building a culture where ingenuity meets community building.