Senior Development Accountant

About QuadReal Property Group

QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management are $85 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating platforms in which it holds an ownership interest.

QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.

QuadReal: Excellence lives here.

www.quadreal.com

Role Description

The role of the Development Accountant (DA) at QuadReal Property Group is to maintain and document the financial status of commercial and residential properties under development within the West portfolio. The successful DA takes full ownership of his/her portfolio and is fully proficient in both the technical and non-technical requirements of Development/Cost accounting. In addition, the DA possesses qualities that set them apart and allows them to act as a resource for the development team(s).

Responsibilities

• Handle all aspects of accounting for the allocated Oakridge Park (West) development projects with minimal supervision.
• Prepare monthly working paper files, financial statements, forecasts, job cost activities, and other reporting as required for senior management and stakeholders.
• Prepare and post journal entries related to daily financial transactions, ensuring accuracy and compliance with accounting standards.
• Reconcile bank transactions and ensure proper recording of all financial transactions.
• Prepare and file GST returns and ensure compliance with applicable tax regulations.
• Liaise and work closely with the West development, construction, sales & markings teams, including attending project status meetings and providing financial updates.
• Review and approve invoices, contracts, change orders, and purchase orders, ensuring proper allocation of expenses.
• Prepare financial reporting and draw requests where required for joint ventures and lenders.
• Monthly review of job cost activity to ensure consistent and proper coding.
• Assist in the preparation of Project Status Reports and provide financial updates during project status meetings.
• Set up and maintain projects in Yardi job cost, including original and revised budgets, costs incurred, costs to complete, committed costs, and projected final costs.
• Ensure development fees are properly calculated and paid in a timely manner.
• Coordinate with development and finance to track and report projected cash needs for all projects
• Prepare costing and profit reporting for individual residential unit sales
• Prepare development budgets utilizing the latest job cost reports, including timing of cash outflows.
• Monitor and calculate purchaser/sales and vendor/cost holdbacks and their releases in accordance with provincial lien legislation
• Monitor committed costs and projected final costs relative to changes in contracts and commitments.
• Work with property accounting to co-ordinate transition of properties under development to income producing.
• Assist in updating and maintaining the Development Accounting Policies and Procedures Manual.
• Assist in the design and implementation of internal controls related to development activity.
• Provide accurate and timely financial information as required internally by management and other departments, and externally to the client.
• Have full involvement, responsibility, and accountability for monthly, quarterly, and annual reporting duties, ensuring deadlines are met and reports are accurate.
• Complete all job functions relating to assigned properties accurately, efficiently, and by the assigned deadlines.
• Utilize and develop skills such as problem solving, decision making, time management, effective communication, and delegation to achieve the desired results.
• Support members of their team, including coworkers and managers, by taking full responsibility for their own work.
• Add value by providing accurate and timely financial information that helps the development team better manager projects and budgets, make timely decisions, provide meaningful financial reports, and monitor cash flows.
• Perform any other duties as assigned.

Experience and Qualifications:

• Minimum 3-5 years accounting experience, preferably in a development accounting environment.
• Proficiency in accounting software (e.g. Yardi) and Microsoft Office.
• Intermediate to advanced excel
• Strong organizational skills with the ability to work independently and manage multiple priorities.
• Mentorship, act as a resource to the development and finance teams
• Effective Decision Making within level of authority
• Problem Solving and analytical Skills
• Effective communication, written and verbal
• Teamwork, ability to develop and maintain cooperative working relationships
• Contribute to a positive work environment / culture

The expected annualized base salary range for this role is $85,000 - $100,000.

The actual salary offered will take into consideration a wide array of factors including, but not limited to, the individual's skill, experience, education and training, the market compensation of the role, and the consideration to internal equity.

QuadReal offers a competitive total rewards package in addition to the base pay, which includes a performance-based incentive plan, comprehensive health & dental benefits, a defined contribution pension plan and paid time off.

Note to Recruiters: QuadReal does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to QuadReal, directly or indirectly, will be considered QuadReal property. QuadReal will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for engaged services to submit resumes.

QuadReal Property Group will provide reasonable accommodation at any time throughout the hiring process for applicants with disabilities or for those needing job postings in an alternate format. If you require accommodation, please advise the Talent Acquisition team member you are working with and include the following: Job posting #, your name and your preferred method of contact.