Senior Property Accountant

7 days ago

Toronto, Ontario, Canada BentallGreenOak Full time

About the Role:

BentallGreenOak is seeking a highly skilled Senior Property Accountant to join our team. As a key member of our accounting department, you will be responsible for providing a full cycle of accounting services for a portfolio of properties and adding value to our real estate services team and clients.

Key Responsibilities:

  • Complete understanding of all property-specific processes and update relevant information for specific properties.
  • Provide accurate and timely financial information as needed by internal management and other departments, as well as external clients.
  • Financial Statements
    • Produce monthly financial statements in accordance with accounting standards and policies.
    • Use budgets and other tools to analyze variances.
    • Ensure all taxes and HST/CST and other taxes as required by law are reconciled and paid.
    • Final financial statements, distribution of funds, HST reconciliation, bank account closure, and any other relevant closing tasks for sales/lease.
  • Cash Flow/Working Capital Management
    • Monitor cash positions, paying particular attention to monthly mortgage payments, payroll, management fees, property taxes, HST/CST, capital costs, and other significant monthly expenses.
    • Distribute excess funds to owners.
    • Monthly bank reconciliations.
  • Accounts Payable/Accounts Receivable/Administration
    • Control and examine accounts receivable at mid-month and end-of-month to verify accuracy, make adjustments and/or corrections as necessary.
    • Produce a monthly report on rents and receivables.
    • Annual property tax billing for tenants who do not pay monthly.
    • Monitor monthly sales reports and follow up on sales in progress.
    • Support the site in reconciling and billing tenants, as applicable.
    • Prepare new properties, analyze, and follow up on outstanding issues, as applicable.
  • Annual Expenses
    • Complete year-end expense adjustments and bill tenants for properties assigned within 90 days of the end of the operating year.
    • Follow up on the status of expense reconciliations for your portfolios.
  • Budgets
    • Assume responsibility for accounting for assigned budget files within the specified deadlines.
    • Follow up on the status of budgets throughout preliminary, revised, and final stages to ensure budgets are completed within the specified deadlines.
    • Analyze the new budget for the upcoming year for the portfolio to determine changes to accounting treatment for various items.
    • Ensure new lease agreements are sent to tenants for the upcoming year's budget approximately 45 days prior to the start of the operating year.
  • Training and Mentorship
    • Participate in training of real estate accounting staff in all BRES activities, including procedures, processes, and review of property files.
    • Be a resource for property accounting staff to obtain guidance and direction on accounting and property-related matters.
    • Participate in the overall management of the group by providing mentorship to real estate accounting staff.
    • Support ongoing training, development, and mentorship of real estate accounting staff.

Requirements:

  • Registered with the CPA program.
  • Minimum of four to five years of accounting experience; minimum of two to three years of experience in commercial/retail property accounting, including full cycle property accounting, tax recoveries, and client asset management, as well as preparing financial statements; supervisory experience is an asset.
  • Effective communication, both verbally and in writing; ability to develop and maintain cooperative working relationships.
  • Ability to communicate effectively, both verbally and in writing, in French, an asset.
  • Time management, working under pressure, and meeting tight deadlines; ability to manage multiple requests and competing priorities; ability to prioritize workload; attention to detail; willingness to learn in a dynamic environment that involves new ideas and changes.
  • Intermediate to advanced skills in Excel, Word, and other Microsoft Office programs.
  • Criminal Record Check – A police check is required for employment.

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