Project Accounting Manager Jobs

PROJECT ACCOUNTING MANAGER

Our client is a well respected property development company that has a rich history of building townhomes, low rise and high rise buildings across the Greater Toronto Area for the past 50 years. This is a wonderful full-time opportunity to work for a growing developer in the midtown Toronto area. This is an ONSITE role at their office in mid town Toronto.

RESPONSIBILITIES:

• Manage projects’ reporting
• Manage home closing process and bank loan pay-out
• Monthly reconciliation of inter company accounts
• Cost variance analysis and accruals
• Reconcile property taxes by unit and calculate purchasers’ tax refund, if any.
• Manage and oversee the full accounting cycle for multiple development projects.
• Monthly review of projects’ trial balances and maintenance of key schedules for letters of credit, loan amortizations, other and accrued liabilities, and equity roll; and ensures that all control accounts are reconciled to the subsidiary ledgers
• Review of purchasers’ files, prepare the interim and final closing worksheets, coordinate and approval of Statement of Adjustments, and post sales
• Prepare financial reports for submission to internal and external partners
• Prepare year-end working papers, review adjustments, and manage audit requirements
• Record acquisition entries and analyze joint venture and management agreements
• Identify and implement process re-engineering opportunities
• Set up project budgets, change orders and estimates in the accounting system, as well as implement control and maintenance activities
• Coordinate with the operations and other teams to process monthly property financials (i.e. invoice coding, purchase orders, project details and variance analysis) as needed.
• Monthly filing of projects’ HST return
• Assist in compliance reporting to lenders and government
• Maintain ongoing analysis of project budgets on a pro forma basis
• Track and analyze joint venture fees
• Prepare monthly draw requests (equity cash calls, deposits, and/or construction loan), coordinate, and respond to project monitor inquiries
• Administration and process improvements
• Perform timely month-end close and ensure recording all pertinent transactions including setting up of monthly accruals and properly document journal entries
• Calculate cost of sales allocation on closed units, and cost-to-complete accruals
• Review and preparation of receivables and ensure timely collections
• Perform regular bank, trust deposit and loan reconciliations
• Manage cost ledgers for any misclassification of costs and record required cost accruals (invoices, interest, cost to complete, etc.)
• Prepare cash flow forecast including waterfall distribution (return of capital and cash distribution)
• Facilitate mortgage and construction financing and maintain schedules.
• Record unit closing entries and loan payments
• Ensure compliance with Generally Accepted Accounting Standards (IFRS and ASPE), internal audit and client accounting services and internal review standards.
• Recording of loan proceeds and ensure completeness of back-up information

QUALIFICATIONS:

• Experience working with project management, as well as on development and analysis of cost standards.
• Ability to multitask, adapt to and operate in a fast-paced, changing environment
• Supervisory experience a plus
• Be able to maintain confidentiality, utilize judgment, and work with minimal supervision.
• Operate with a sense of urgency, quickly responding to Stakeholders
• 5-10 years of accounting experience, within a real estate company experience preferred.
• Be able to work well independently with an ability to work collaboratively with others
• System conversion experience is a plus.
• Be detail oriented with strong analytical skills
• Be proactive and take initiative
• Bachelor’s degree in Accounting or Finance; CPA a plus.
• Can demonstrate leadership, responsiveness, and accountability
• Strong working knowledge of Microsoft Excel and other spreadsheet applications required; experience with real estate accounting software a plus (JDE, NEWSTAR, YARDI).
• Advanced accounting and analytical skills
• Excellent verbal and written communication skills

Compensation:

Salary: $120-$130k plus bonus

Benefits

Vacation

CPA membership fee