Accounting Analyst
Apex Systems
Toronto, Ontario
2d ago

Accounting Analyst

Client : Enterprise Insurance

Description :

  • Responsible for property accounting on a complex set of commercial real estate accounting that could include office, industrial, and retail properties located within our global portfolio.
  • Responsible for properties within complex legal entity structures such as funds, REIT’s, and / or joint-ventures.
  • Preparation of month-end, quarter-end, and year-end property accounting including financial statements according to accounting standards and conducts comprehensive business-focused variance analysis and commentaries regarding variances.
  • Maintain and update monthly and annual general ledger account reconciliation working papers and follow-up to ensure items are cleared according to guidelines, procedures, policies, and deadlines.
  • Responsible for property accounting journal entries including operating expense accruals, revenue accruals, amortization, depreciation, and other entries as required.
  • Review, code, and ensure processing of accounting related accounts payable such as audit fees, property taxes, and tax remittances (GST / HST / QST / State Tax / etc.).
  • Responsible to provide guidance and support on complex bank reconciliations to Revenue Accountants.
  • Setup and maintain straight line rent and responsible for straight line rent variance analysis.
  • Calculate and prepare tenant chargebacks as required such as direct use utilities to tenants.
  • Prepare and submit annual municipal property tax and other regulatory related financial and operational reporting requirements for review.
  • Contributes to the preparation and consolidation of property budgets and forecasts including calculating key accounting budget items and reviewing to ensure property accounting budgets are reasonable such as : reviewing and validating leasing revenue, CAM & TAX recoveries by tenant, straight-line rent, and fixed assets.
  • Create and maintain tenant CAM & TAX recovery models in accordance with tenant lease terms and prepares tenant year end CAM and Tax billings / invoicing in accordance with tenant lease terms
  • Ensure all GST / HST / QST / State Tax and other legislated taxes are reconciled and remitted;
  • Key reviewer and contributor to the lease administration workflow including reviewing lease term inputs for accuracy and helping to determine recoveries and straight-line rent setups.
  • Create and monitor cash flow projections, prepare cash call and distribution instructions.
  • Reconciliation of taxes as required (GST / HST / QST) including remittances.
  • Provide internal & external audit support including gathering and collecting financial related information.
  • Assist in the accounting of property acquisitions and dispositions and participate in the due diligence and statement of adjustment phases, as required;
  • Adhere to all SOX / MAR and operational controls to ensure no exceptions or misstatements.
  • Participate in special projects and process improvements.
  • Responsible for the delivery of month-end and quarter-end closing and reporting activities for assigned portfolio including monthly management reports as required by property management and asset management, monthly supporting documentation package for audit purposes, variance analysis, and corporate analysis and ad hoc reporting.
  • Ensure accounting processes are executed efficiently and effectively across the portfolio, and technology and system generated reports are fully utilized.
  • Mentor and act as a go-to resource for Property Accountants including help with training new team members.
  • Knowledge & Skills

  • Professional accounting designation (CPA) is required with university degree in a related discipline.
  • Competencies in some of the following : real estate, accounting standards, finance, and / or audit.
  • Expertise in property accounting including tenant recoveries and real estate accounting theory, concepts, and standards.
  • Excellent communication including strong written and verbal communication with team members and ability to communicate effective in business terminology with property management, asset management, and other stakeholders.
  • Highly organized with an exceptional attention to detail.
  • Effective time management skills, works well under pressure to meet tight deadlines; ability to handle multiple demands and competing priorities;
  • ability to prioritize workload; ability to work and analyze at a high level; willingness to learn in a dynamic environment that includes new ideas and change

  • The ability to perform with exceptional integrity, always striving to do the right thing and help to create an environment built on trust, honesty and respect.
  • Keen interest and dedication to life-long learning and self-improvement.
  • Dedication to service excellence for customers, clients, and team members with an eagerness to share ideas and look for opportunities to improve.
  • Recommended Experience :

  • Experience and exposure to commercial real estate experience back office operations, administration, accounting, and finance.
  • Extensive property accounting experience gained working with a variety of commercial real estate types including office, retail, and industrial
  • Experience mentoring team members, training new team members, and other introductions to team supervision.
  • 5-7+ years of commercials property accounting experience is preferred.
  • Experience with enterprise level real estate systems is required, experience with Yardi is preferred.
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