Senior Manager, Accounting

About the Company

Our client is a leading real estate company. They are looking for a Senior Manager, Accounting who will be responsible for adding value to the company's staff and clients through direct supervision of accounting staff to ensure accurate and timely financial information to better manage properties and budgets,

The Senior Manager, Property Accounting will utilize leadership and decision-making qualities in the continuous improvement of processes, proper training, development, and mentoring of property accounting staff to transfer knowledge, create a positive work environment and develop solid skill sets.

Why Work Here

• Collaborative Teams: While corporate environments vary by branch, peer-to-peer relationships are highly rated. Coworkers are frequently described as approachable, knowledgeable, and easy to work with.
• Fostering Belonging: The Company has dedicated, employee-led Employee Resource Groups (ERGs) equipped with independent operating budgets to promote global diversity, equity, and inclusion.
• Tuition Assistance: the company actively sponsors ongoing professional development, training designations, and internal education funding. Inconsistent promotion paths and limited vertical mobility.
• Promotional Opportunities - the company is always looking at opportunities to promote people from within (within a short time frame)

About the Opportunity

Direct Supervision of 3 - 4 Property Accounting Staff

• Supervise the day-to-day activities of property accounting staff to ensure the efficient operation of all properties under management

• Responsible for timely and accurate completion of annual activities such as property budgets, cash flow forecasting, final operating cost recovery adjustments, annual property taxes, and property audits

• Responsible for timely and accurate completion of monthly activities including month ends, cash flows, and monthly reporting

• Review of monthly and annual property accounting activities to ensure that desired results are achieved according to deadlines, GAAP, and client policies/requirements

• Responsible for conflict resolution and decision making when required

• Liaise with property site staff, leasing staff, other members of management and clients to ensure they are receiving responsive service as well as provide assistance and advice as necessary

• Lead property accounting support for value-add and due diligence initiatives across the assigned portfolio, partnering closely with Property Management, Investment Management, and Acquisitions teams.

Planning and Monitoring

• Plan and monitor timelines for due diligence assignments and value-add initiatives, ensuring accurate and timely delivery while balancing existing monthly and annual reporting cycles.

• Manage staff workloads to ensure fairness and that all the company's client needs are met in a timely manner

• Ensure that all client and staff requests are met through delegation and monitoring

Value-Add, Due Diligence and NOI Creation

• Apply a property accounting lens to the review of historical financial statements, general ledgers, rent rolls, leases, operating expenses, tenant recoveries, accounts receivable, accounts payable, capital expenditures, and balance sheet items.

• Prepare, review, and validate in-place, run-rate, budgeted, forecast, underwritten, and stabilized NOI for both new acquisitions and existing properties.

• Review acquisition and investment models to validate the underlying accounting data, lease assumptions, recovery structures, operating expenses, and other inputs supporting projected NOI.

• Develop NOI bridges that clearly explain changes between historical results, current performance, budgets, forecasts, underwriting assumptions, and stabilized operations.

• Identify and quantify adjustments relating to occupancy, contractual rent steps, free-rent periods, leasing activity, bad debt, tenant recoveries, non-recurring expenses, capital versus operating costs, and other property-specific items.

• Partner with Asset Management and Property Management to identify value-creation opportunities, assess their potential financial impact, and monitor the realization of NOI improvements.

• Maintain due diligence schedules and issue logs that clearly document identified risks and opportunities, financial impacts, assumptions, required actions, ownership, and resolution status.

• Communicate key due diligence findings and property performance opportunities to senior management, clients, and other stakeholders in a clear and commercially relevant manner.

Lease and Recovery Review

• Lead detailed reviews of leases, lease amendments, abstracts, rent rolls, accounting system configurations, and tenant billings to confirm the accuracy and completeness of property-level revenue.

• Review key lease provisions, including base rent, contractual rent steps, free-rent periods, percentage rent, operating cost recoveries, property tax recoveries, caps, exclusions, base-year provisions, gross-up clauses, administration fees, and proportionate-share calculations.

• Identify discrepancies between executed lease terms, lease abstracts, accounting records, rent rolls, recovery calculations, and tenant billings.

• Quantify the financial impact of lease or billing discrepancies and oversee the implementation of required corrections.

• Review operating cost and property tax recovery pools to ensure expenses are appropriately classified, allocated, and recoverable in accordance with lease terms.

• Analyze recovery performance to identify under-recoveries, over-recoveries, non-recoverable costs, missed billing opportunities, and areas requiring process or system improvements.

• Identify opportunities to improve recovery structures, tenant billing accuracy, and the overall recoverability of property operating costs.

• Work with Leasing, Lease Administration, Property Management, and accounting staff to ensure new leases and amendments are accurately reflected in the accounting system and tenant billings.

• Support tenant audits, recovery disputes, and reconciliation inquiries by ensuring that complete schedules, lease support, calculations, and explanations are available.

Training, Devevopment, and Continuous Improvement

• Responsible for ensuring existing and new staff members receive appropriate level of training for systems and procedures including monthly and annual activities

• Responsible for being a resource for staff to come to for guidance and direction

• Responsible for performance management and ensuring that property accounting staff continue to develop and utilize skills that are necessary to complete job responsibilities

• Develop technical, analytical, and communication skills of property accounting staff through targeted and focused review of monthly and annual files and constructive feedback

• Responsible for continuous improvement of property accounting staff and policies and procedures

• Develop staff capabilities in lease review, recovery analysis, and NOI creation to support value-add and due diligence assignments

• Support and Assist Controller

• Assist in the overall management of the accounting team including planning, monitoring, and communicating any issues that require management input

• Assist in staff motivation and celebration as well as ensuring that a positive work atmosphere is maintained

• Identify and analyze problems and take decisive action if an appropriate solution is achieved

• Provide input on staffing requirements and issues

• Take on special projects as delegated including process improvements and senior management requests

Other Duties

• New property set up, analysis, and follow up of outstanding issues as required

• Full understanding of all property specific processes and upkeep of pertinent information relating to specific properties

• Input / feedback for improving procedures and initiating quality and efficiency enhancements

• Efficient and effective communication, in a professional manner, with all the company's employees and clients

About You

• CPA, MBA in progress
• Manager with 5+ years of strong property accounting experience, ideally within a large commercial or retail portfolio.
• Complex recoveries
• CAM
• Taxes
• Large tenant populations
• Commercial and/or retail properties
• Property accounting
• Yardi

Salary Range

$130,000 - $140,000/year

How to Apply

Click the "Apply Now" button and follow the instructions to submit your resume. Please know that we only accept documents in MS Word or Rich Text formats.

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This position for employment is for a current vacancy with Vaco/Highspring's client. You must currently reside within the Greater Toronto Area and be permitted to work in Canada to be considered for this opportunity. A recruiter will be in touch with you if your profile meets our client's requirements for this role.

Determining compensation for this role (and others) at Vaco/Highspring depends upon a wide array of factors including but not limited to the individual's skill sets, experience and training, licensure and certifications, office location and other geographic considerations . click apply for full job details