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 total $73.8 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 companies 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 Senior Development Accountant (SDA) at QuadReal Property Group is to maintain and document the financial status of commercial and residential properties under development across different entities within the Domestic portfolio. The successful SDA 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 SDA 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 development projects with minimal supervision.
• Maintain job cost chart of accounts in Yardi.
• 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.
• Liaise and work closely with the western development teams, including attending project status meetings and providing financial updates.
• Ensure all invoices are properly coded into the accounting system; and paid in a timely manner.
• Ensure development fees are properly calculated and paid in a timely manner.
• Prepare loan draws and capital calls as required. 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.
• Prepare monthly financial reports; providing timely and accurate analysis of financial results and operating metrics.
• Assist in the preparation of Project Status Reports.
• Coordinate with development and finance to track and report projected cash needs for all projects, including those in the pre-construction phase.
• Prepare costing and profit reporting for individual residential unit sales if applicable
• Prepare development budgets utilizing the latest job cost reports, including timing of cash outflows.
• Track holdbacks and holdback releases in accordance with provincial lien holdback 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.
• Work with property accounting to co-ordinate transition of income producing properties to properties under development.
• 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 the portfolio, which includes all monthly, annual, and other duties as detailed in the job responsibilities.
• 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.

Experience and Qualifications:

• Professional accounting designation or equivalent commercial real estate accounting experience required.
• Minimum 3-5 years accounting experience in a development and construction accounting environment.
• Specialized computer skills in a range of software including: Yardi and Microsoft Office.
• Self starter and organized
• 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 $90,000 to $105,000.

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.

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