Manager, Property Accounting

1 week ago

Vaughan, Ontario, Canada SmartCentres Full time

Job Title:
Manager, Property Accounting

Reports To:
Director, Property Accounting

Department:
Property Accounting

Position Summary

Oversee and supervise the Property Accountants that have primary responsibility for the individual property financial reporting and nurture the relationships within your area of responsibility and ensure that each member of the team understands his or her position, where they fit into the process, and assist in their growth and development.


Responsibilities:

  • The expectation is that the Manager will take ownership of the management of any and all relationships outside of the company to include partners/coowners, auditors, tenants and vendors;
  • Nurture the relationships within your area of responsibility and ensure that each member of the team understands his or her position, where they fit into the process, and assist in their growth and development;
  • Oversee and supervise Property Accountants that have primary responsibility for the individual property financial reporting;
  • The expectation is that the Manager Property Accounting will lead and manage the Property Accountants in carrying out all its responsibilities, including financial reporting and budgeting. The Manager will provide training, staff development and will provide semiannual and annual performance reviews;
  • Ensure all financial and management reporting, including budgets are delivered accurately and on a timely basis;
  • Ensure all accounting records related to all properties are kept up to date within guidelines established by generally accepted accounting principles and by the trust and/or its partners/coowners;
  • Ensure cash that is surplus/deficit to the property is distributed to its owners on a timely basis and in accordance with cash projections;
  • Review preliminary month end financial statements and finalize any adjusting entries;
  • Review and approve final month end statements and reports accompanied with variance analysis of revenue and expenses;
  • Ensure all month end and yearend working papers are accurate and complete;
  • Review and approve tenant lease up schedules;
  • Review and approve monthly rent roll. Review and approve all monthly rental charge notices;
  • Monitor accounts receivables and ensure adequate allowance for doubtful accounts. Ensure timely, accurate and complete tenant chargebacks. Ensure property tax billings, for tenants not billed monthly, are invoiced in accordance with the tenant leases and within 24 hours of receipt of the property tax bill;
  • Review and approve all tenant query responses;
  • Ensure that all development properties are transferred to income producing properties in accordance with accounting policies and review and approve amortization schedules and recurring journal entries;
  • Ensure for all departing tenants that any unamortized costs are appropriately written off;
  • Review all payable cheques, including monthly cash distributions, to ensure accuracy and properly approved;
  • Review and approve that all CAM/Property Tax/Chargeback recoveries are in accordance with the tenant leases and that all adjustment billings are performed within 90 days of yearend;
  • Manage, review and approve assigned budgets within assigned deadlines;
  • Assist with all auditor requirements, including the company's audit firm and all partners/coowners audit firms, as well as government audits when required;
  • Ensure timely, accurate and complete property management, leasing and disposition fees;
  • Ensure that the accounting for all property acquisitions and dispositions are recorded accurately and on a timely basis and participate in the due diligence and statement of adjustment phases, as required;
  • Continually monitor and review accounting processes and procedures and recommend changes as appropriate to improve internal controls and/or efficiencies;
  • The expectation is that the Manager will strive to not only improve the accounting and administrative process, but also ensure that appropriate respect and attention is given by each member of his/her team to the other functional areas of the company, our auditors, our tenants, and outside vendors with which they must coordinate to accomplish their mission.

Academic/Professional Requirements:

  • Fouryear Bachelor's Degree in Accounting;
  • Professional Accounting designation (CGA, CMA).

Required Skills/Experience:

  • Excellent knowledge of accounting practices as applied to real estate development, property management, CAM/Property Tax/Chargeback billings, financial and management reporting;
  • Minimum 5 years' experience in managing an Accounting team within a real estate organization with a proven track record of following through to achieve desired results;
  • Good oral and written communication skills with the ability to effectively communicate across all levels within and outside of the organization;
  • Advanced Excel skills and working knowledge of real estate/property management software.
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