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Summit Search Group is pleased to partner with CreateTO in their search for a Property Accounting Supervisor.
About Our Client:
Launched on January 1, 2018, CreateTO was established by the City of Toronto to manage its real estate portfolio, which, with more than 8,000 properties, is one of the most expansive, diverse, and valuable real estate portfolios in all of North America. CreateTO will develop City buildings and lands for municipal purposes and deliver client-focused real estate solutions to City divisions, agencies and corporations.
Position Scope:
Reporting to the Manager, Financial Reporting & Accounting (the Manager), the Property Accounting Supervisor is 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 in a culture of continuous improvement to processes, timing and accuracy, and the communication of results. This is a hybrid role.
Responsibilities:
- Review and post accounts receivable, accounts payable and bank reconciliations
- Review detailed A/R analysis each month to ensure accuracy and completeness. Closely monitor AR collection status. Escalate collection issues for AR past due over 15 days. Respond to tenant inquiries.
- Attend bi-weekly accounts receivable meetings with property management team for collectability and follow-up action.
- Review 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, prepaid expense allocations, straight-line rent calculations, capital cost amortization entries, AFDA adjustments, recovery adjustments, and inter-company reconciliations etc.
- Review and approve HST monthly calculation and filing. Post monthly HST return entry in Yardi.
- Review monthly in-depth B/S account analysis, quarterly 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.
- Review quarterly and annual vacancy and occupancy changes and CAM/Property Tax recovery calculations, for a large portfolio.
- Review and approve annual tenants’ year-end recovery settle-up billings.
- Review 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.
- Review and approve 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.
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
Required Skills and Knowledge:
- Excellent communication skills – written, oral and presentation
- 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, job costing and tenant recoveries
- Exhibits high standards of business and personal ethical conduct
Education and Experience:
- University degree and CA designation
- Minimum of 3 years of experience in Big Four accounting firms in a progressively responsible position with experience in MD&A and financial statements, as well as audit practices
Application Instructions:
To apply, please send a resume to Aman Sodi at [email protected].
Summit Search Group is a fair and equitable search firm. We welcome and encourage applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the recruitment and selection process.
![Aman Sodi](https://summitsearchgroup.com/wp-content/uploads/2013/08/Summit-Recruiter-Aman.png)
Aman Sodi
Job ID
City
- Toronto, ON
Remuneration
Competitive compensation package + benefitsIndustry
Position
![Aman Sodi](https://summitsearchgroup.com/wp-content/uploads/2013/08/Summit-Recruiter-Aman.png)
Aman Sodi
Job ID
City
- Toronto, ON