Friday, March 22, 2024
Accounting Manager of Construction Finance
About Equiton :
Founded in 2015, Equiton is a recognized leader in private equity investments with 1 billion CAD in Assets Under Management (AUM). Our exponential growth is a direct outcome of our leadership team understanding how the industry works and how to create long-term wealth through real estate investing. We have discovered that finding the right opportunities involves time, experience, and discipline. Our strategy is always forward-looking, anticipating trends and adapting our selection to strengthen our market position, capitalizing on value creation opportunities, and building the most robust portfolio possible for our investors. We attract exceptionally talented people and create an atmosphere that rewards initiative, independent thinking, and integrity.
About the Position:
Reporting to the VP of Construction Finance, the Manager of Construction Finance oversees all day-to-day accounting and reporting activities for residential condominium projects. This role requires the candidate to thrive in a fast-paced environment with a variety of accounting and related activities and tight deadlines, including but not limited to daily accounting transactions, financial reporting, and supporting budget, proforma, and reforecast activities. Working collaboratively with other team members across the organization is essential for success in this role.
Key Functions and Responsibilities:
- Assist to monitor budget, costs incurred, costs to complete, committed costs and anticipated final costs in project management and accounting system.
- Perform monthly bank and HST reconciliations and ensure HST filings are submitted on a timely basis.
- Manage A/P staff and ensure that invoices are entered into the system correctly by AP Clerks and that all the relevant supporting schedules are complete and accurate.
- Reconcile all jobs with Project Management monthly to ensure all jobs are being invoiced on time and all costs are accounted for.
- Ensure that holdbacks are retained and released in compliance with contractual agreements and/or provincial Construction Acts.
- Generate cost reconciliations to ensure accurate variance analysis on construction projects.
- Manage A/R staff and ensure that billings and collections are handled efficiently and effectively, optimizing cashflow, and minimizing outstanding receivables.
- Review monthly construction progress billing packages to ensure accurate preparation and inclusion of all required statutory documents.
- Develop and maintain accurate financial reports on a timely basis.
- At the time of condominium closings, ensure accurate preparation of SOAs and verify that all SOAs align accurately with our records, confirming that all closing funds received match our sales records.
- Implementing and maintaining internal controls to safeguard company assets and ensure compliance with financial policies and procedures.
- Support internal teams with requested financial information and related analysis on an ad-hoc basis.
Required Skills and Abilities:
- Enthusiasm and passionate about "rolling up sleeves" to get the job done.
- Real estate, management, and budgeting/forecasting experience.
- Strong technical skills, attention to detail, and track record improving team processes.
- Strong communication and organizational skills.
- Proficiency in Microsoft Word, Excel, and PowerPoint.
- Ability to prioritize and multi-task to meet sensitive deadlines.
Education and Experience :
- 15+ years of progressive financial experience.
- 8+ years of real estate accounting experience on development projects.
- A university degree in Business/Accounting is required; CPA designation is preferred.
- Management and leadership skills to manage and motivate departmental staff and lead projects.
Our Commitment to Diversity, Equity, and Inclusion :
In addition to being dedicated to building a workforce that leverages diverse talent, we are committed to fostering an inclusive and accessible experience where all employees feel valued, respected, and supported. We are an equal opportunity employer that values a culture that reflects and celebrates diversity of thought, background, and experience. If you require accommodation for any part of the recruitment process (including alternate formats of materials, accessible meeting rooms, etc.), please let us know, so that we will work with you to meet your needs. We thank you for applying, however, only those selected to continue will be contacted.
Our Core Values:
Rigorous adherence to a set of moral and ethical standards focused on respect, honesty, and fairness.
Individual responsibility for delivering on our commitments and being accountable for our decisions, actions, and results.
Offering the highest level of professional expertise, quality service and knowledgeable insights.
We recognize our customers are the reason for our success and know by putting their needs first, we foster trusting, long-term relationships.
Focusing on a growth mindset, continuous improvement, embracing change, and recognizing goals are achieved through dedication and hard work.
Please note that at present, legal eligibility to work in Canada is a prerequisite for this role.
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