Director, Real Estate Development

At Arbutus Properties, our ambition is to build lasting communities based on a sense of belonging and inclusivity that makes people feel a genuine part of where they live. As a leading residential and commercial development company, were seeking an enthusiastic, detail-driven problem-solver to join our team in Vancouver. We offer a dynamic work environment, attractive compensation and benefits package, and vast opportunity for advancement. If you love real estate, finance, and working in a collaborative, fast-paced environment, we want you on our team!

Position Overview

As a key member of the accounting and finance team, you will be responsible for all accounting and related reporting matters for the Companys multi-family residential apartment construction, home construction, land development, and commercial development activities. You will be responsible for overseeing the financial aspects of real estate development projects, ensuring that they are executed within budget, financially viable, and aligned with company objectives. This means you will be relied upon to review construction budgets, monitor construction timelines, and administer construction draws and manage the financial reporting and analysis for various development projects. You will have an integral role in managing cashflows for the entire organization. You accomplish this by leading and managing team members with the highest standard of integrity and professionalism, to ensure the efficient management of Company funds and resources.

This position will report to the CFO.

There is never a dull moment here, so be prepared the roll up your sleeves to get to know the business, make recommendations for improvement, and lead by example. If you believe in working with passionate individuals whose core values include ingenuity, thoughtfulness, tenacity and prosperity, you belong with us.

Key Functions & Responsibilities

1. Accounting Operations
   

• Oversee and manage the accounting activities related to a portfolio of real estate development activities on both commercial and residential projects.
  • Manage a timely month-end accounting close process
  • Establish monthly reporting dates and adhere to the timeline
  • Develop monthly reporting to senior management to provide meaningful updates on the development and construction activities, such as home and commercial construction progress, lot sales, and home closings

• Evaluate and validate project costs, ensuring they align with established budget projections and financial targets.
• Conduct variance analysis to assess discrepancies between budgeted and actual costs and develop corrective action plans.
• Ensure that all project financial data is accurately tracked and recorded in compliance with accounting standards and internal controls.
• Liaise with operations team, including project managers and project coordinators to understand financial implications of operational events and issues.
• Manage and lead the development finance team:
  • Supervise and mentor junior finance and accounting staff, providing guidance on project financials and best practices
  • On-going, detailed review of working papers
  • Evaluating staff performance, providing performance feedback, recommending promotions or taking corrective action for poor performance
  • Participate in hiring and termination processes
• Facilitate home and lot closing process, including reviewing purchase and sale agreements, efficient preparation of payout statements, timely coordination of the required closing documents to lawyers, and immediate follow up for receipt of net funds to the Company
• Participate in corporate tax discussions with external advisors, as needed.
• Lead, manage, coordinate the finalization of year end financial statements with team members and external advisors, including compilations, review engagements and audit engagements, along with the related tax filings.

2. Project Financing & Capital Management:

• Manage detailed project budgets, including construction costs, financing, and operational expenses.
• Support the preparation of financing packages, including working with lenders, investors, and other financial partners to secure funding for projects.
• Manage the allocation and utilization of funds for each project phase, ensuring that resources are used efficiently and within budget.
• Oversee the drawdowns of construction loans and communicate with cost consultants, ensuring timely and accurate disbursements.
• Oversee and manage corporate cash flows on a weekly basis to balance priorities and ensure projects are funded, financial commitments are met, corporate cash requirements are handled.

3. Risk Management & Compliance:

• Identify financial risks related to real estate development projects and develop strategies to mitigate those risks.
• Ensure compliance with relevant tax laws, financial regulations, and accounting standards for all development projects.
• Work with legal and compliance teams to ensure that all contracts and agreements are financially sound and properly structured
• Assist in due diligence and feasibility studies, evaluating the financial health and viability of potential development sites.

4. Cost Control & Financial Efficiency:

• Implement and oversee cost control measures to ensure that project expenses are kept within budgetary limits.
• Work with project managers to identify cost-saving opportunities during construction, procurement, and other phases of development.
• Monitor the performance of contractors and suppliers from a financial perspective, ensuring that contracts are adhered to and cost overruns are avoided.

5. Investor & Stakeholder Relations:

• Prepare financial presentations and reports for investors, including capital expenditure updates, project financials, and returns on investment.
• Maintain strong relationships with key financial stakeholders, including banks, investors, and external auditor
• Provide transparent and clear communication on the financial progress of development projects to internal and external stakeholders.

6. Team Leadership & Collaboration:

• Foster a culture of continuous improvement within the team.
• Seek ways to leverage existing or new technology to optimize finance teams productivity, performance, and communication.
• Provide support as needed to the CFO to implement corporate strategy.

Key Criteria:

• Education: Bachelors degree in Accounting, Finance, or a related field. CPA or similar certification is preferred.
• Experience: At least 5 years of accounting experience, with 2+ years in a managerial role focused on real estate development accounting.
• Technical Skills:
  • Tech-Savvy: Proficiency in Yardi platform and QBO are preferred with strong Excel and Word skills is a must
  • Industry Knowledge: Experience managing job cost reporting and project financing in a real estate development context.
  • Analytical Mindset: Strong financial analysis skills and a knack for spotting trends, identifying inefficiencies, and finding opportunities for improvement.
• Soft Skills
  • Leadership Skills: Proven ability to lead and inspire a team, fostering a positive and collaborative work environment.
  • Strong Communicator: Clear and engaging communication style to articulate financial data in a way that excites and informs.
  • Resourceful: You may not have the answer, but you are driven to figure out the options and recommend a path forward.
  • Strong work ethic:Conscientious, attention to detail, and proud of the work that you produce and oversee.

Key Reasons to Join Us:

• Dynamic Environment: We are fast-paced and growth mindset oriented. With multiple projects and initiatives underway, you wont be bored here.
• Growth Opportunities: Were growing fast, and so can your career! Take on new challenges, gain valuable experience, and develop your skills.
• Work-Life Balance: We understand the importance of life outside of work, offering flexibility and benefits to support a healthy work-life balance.
• Team Spirit: We believe we enrich our communities by being a good friend and we pay attention and consider other people when we speak and act. Were simply better together!