Senior Property Accountant

CreateTO is shaping Torontos future through impactful real estate solutions. A City of Toronto agency, CreateTO works collaboratively with internal stakeholders, external partners and community members to create more livable, sustainable and inclusive communities. CreateTO is here to increase the social, cultural and economic value of our citys $27-billion real estate portfolio, ensuring positive impacts for residents and a bright future for Toronto. If youre passionate about contributing to the best use of one of North Americas largest and most valuable real estate portfolios, wed love to have you on the team.

The Opportunity

Reporting to the Manager, Financial Reporting & Accounting, the Senior Property Accountantis a key member of the Finance team responsible for ensuring the accuracy and completeness of monthly, quarterly and annual reporting requirements for the Toronto Port Lands.

This role also participates ina culture of continuous improvement to processes, timing and accuracy, and the communication of results.

PRINCIPAL RESPONSIBILITIES

The primary responsibilities of this position include:

• Review and post accounts payable
• Review, analyze and post monthly capital cost amortization calculation
• Ensure the accuracy and integrity of the job cost ledger and coding of construction and development costs, and adherence to internal controls and procurement
• Review construction draw requests by ensuring compliance with draw procedures and internal controls. Coordinate with the vendor and third-party consultant/engineer for discrepancies and resolution. Closely monitor draw payment and HB release status
• Prepare Development Cost Recovery schedules for shared cost recovery projects
• Coordinate with various teams within Development, Construction, Property and Leasing Departments to obtain accurate project related information to support budget preparation
• Review and post general Journals and accruals, capital cost amortization entries, recovery adjustments, and inter-company reconciliations etc.
• Prepare monthly in-depth B/S account analysis, F/S variance reports and recovery ratio analysis. Assist with the preparation and analysis of income variances
• Assist with year-end audit process, prepare annual MD&A and financial statements and liaise with auditors
• Support the Manager in preparing quarterly Board Reports and annual report due to city. Liaise with city divisions to investigate discrepancies
• Prepare quarterly and annual vacancy and occupancy changes and Property Tax recovery calculations, for a large portfolio
• Prepare annual tenants year-end recovery settle-up billings
• Conduct prior years realty tax analysis communicate with realty tax consultant and City realty tax staff to record accurate refund and tenant recoveries
• Familiarity with Property Tax appeals, government grants, IMIT application processes, an asset
• Assist with the preparation of schedules for annual budget, and quarterly forecast as required
• Prepare quarterly cash flow analysis
• Assist with preparation of annual rental advice notices (RAN)
• Set up monthly on-line rental withdrawal transactions for PAD tenants, and generate EFT batches for bi-weekly cheque-run
• Assist with property/project acquisition and disposition calculations and analysis
• Provide a knowledge base to assist the property and development management in the interpretation and implementation of new property related accounting standards
• Work closely with all members of the accounting team to provide necessary reports to other departments and stakeholders
• Provide support for special projects as assigned

CANDIDATE ATTRIBUTES

To be successful in this role, you will have the following skills and qualifications:

• Excellent communication skills written, oral and presentation
• Minimum 6 years of experience in Real Estate / Property Management industry in a progressively responsible position with experience in MD&A and financial statements, as well as audit practices
• Education: University degree and CPA designation
• Knowledge of IFRS; PSAB knowledge is an asset
• Proficiency in Microsoft Office skills; knowledge of Yardi would be an asset
• Superior attention to detail, excellent organizational and co-ordination skills with the ability to effectively manage time and priorities, and multiple tasks
• Excellent interpersonal skills, research, analytical, problem solving, critical thinking
• Self-motivator & Self-starter, roll-up sleeves attitude, eager to learn, flexible, valuable team-player, willing to do whatever it takes to get the job done. Ability to work independently with minimal guidance, research/analyze available resources, meet deadlines and work well under pressure
• Technical accounting background from a real estate perspective is a strong advantage, knowledge with construction draws and job costing
• Exhibits high standards of business and personal ethical conduct

RELATIONSHIP RESPONSIBILITIES

• Works collaboratively and develops, maintains good working relationships within CreateTO
• Develops and maintains effective and positive working relationships with various City departments and agencies as well as external contacts, service providers, financial institutions, professional organizations, and clients

With a highly engaged team, CreateTO scores well above benchmarked organizations in terms of its employees passion, commitment, diversity and pride. As part of the organizations Strategic Plan 2023-2027, Inspire internal success was named as one of five priority objectives.

CreateTO wants its team to reflect the City we represent, and we strive to provide an inclusive workplace that promotes and values diversity in age, gender identity, race, sexual orientation, physical or mental ability, ethnicity, and perspective, all of which are proven to build better companies. Our goal is to create an environment where everyone, from any background, can do their best work and be themselves.

We provide equitable treatment and accommodation to ensure barrier-free employment in accordance with the Ontario Human Rights Code and Accessibility for Ontarians with Disabilities Act. Candidates can request accommodation related to the protected grounds at any stage of the hiring process.

Interested and qualified candidates are required to submit their resume and cover letter by December 13, 2024. This posting is for an existing vacancy. Submissions that dont include the requirements noted above will not be considered. Only those individuals selected for an interview will be contacted. No agencies at this time please.

Please note that this is a hybrid working environment. For more information on CreateTO, please visit our website at www.createto.ca.