Manager, Income Property Accounting

Position Overview

Responsible for the financial accounting and reporting of Beedie’s Property Management operations and 16 million square foot portfolio of industrial and commercial properties. A key member of both the Asset Management and Finance teams, providing decision support through critical thinking, creativity and collaboration. Oversee key Finance deliverables, including financial and management reporting.

Requires a strong grasp of the operational intricacies of property and asset management, balanced with a solid understanding of financial reporting and GAAP compliance

Key Responsibilities

Operational decision support

Provide strategic decision support to Property / Asset Management

• Analyze capital plan, budgets and cost recoveries
• Review annual operating budgets and quarterly forecasts for each property. Support Property Managers in maximizing cost recoveries from tenants
• Review cash flow forecasts and distribution analysis prepared by property management accountants; oversee annual budgets and liaise with property managers to ensure maximum recoveries of planned spend
• Review and analyze lease agreements; provide recommendations and comments to management/legal
• Oversee property assessments and liaise with external consultants to minimize property taxes
• Recommend and implement new financial systems, controls and processes in collaboration with Asset Management and Finance teams keeping in mind operational efficiency
• Drive efficiency in processes through detailed review of lease set up in Yardi and standardization of deliverables
• Identify opportunities to provide value to the property manager and Leadership teams through a deep understanding of the lease/asset and business requirements

Accounting and Reporting

Oversee the accounting and finance related activities for the Property Management operations and all entities that own income producing properties

• Support year-end audit, including preparation of certain working papers, analysis and other support as required
• Support reporting to third party investors, including quarterly investor report and cash forecast
• Oversee all tenant billings and collections, including annual CAM reconciliation. Review and monitor tenant accounts receivable to ensure timely collection. Coach team in providing necessary support for tenant charges to reduce questions and speed up recoveries
• Review lease new lease set up and amendments to ensure accuracy of information
• Review financial statements and property working papers, highlighting variances and seeking answers to resolve identified issues
• Work with project accounting to assist in the transfer of completed projects to asset management through review of cost allocation models and oversee transfer journal entries
• Support in development of reporting dashboards for property and asset management operations

Leadership

• Awareness of the unique needs and requirements of both the Finance and Property / Asset Management teams, providing leadership to both groups in an effort to support an environment of collaboration and continuous improvement.
• Promote culture of teamwork through assisting, coaching, and directing other staff as appropriate
• Manage team of seven property accountants, one assistant manager, and one accounts receivable clerk
• Helps identify gaps in capability, motivation, and/or license of team members and works with Senior Manager to develop a plan to coach team members
• Dives into detail with the property accountant as needed to work through issues together and show them how to be successful
• Understands the nature of competing priorities and supports the team in making reasoned choices in what to focus on week to week, and throughout the year

Desired Skills & Experience

• University degree and accounting designation (CA, CPA, CGA, CMA)
• Proven leader with 5 or more years’ experience in Property/Asset Management operations and accounting
• Strong understanding of GAAP, REALpac and financial reporting requirements
• Intermediate to advanced knowledge of MS Office
• Experience with Yardi or other property management specific software
• Excellent communication and interpersonal skills with a natural inclination for collaboration
• Naturally curious with a willingness to challenge assumptions and ask the hard questions
• An organized self-starter with a strong work ethic who is able to work both independently and collaboratively within a team environment
• Ability to prioritize work and manage multiple tasks, likely with competing priorities
• Strong attention to detail balanced with an awareness of the bigger picture
• Experience creating reporting dashboards in Power BI or other visualization software an asset
• Capacity to connect with construction and development teams, understand their perspectives and communicate effectively with an operational mindset