Senior Manager - Project Accounting POST NUMBER: 427283
Our client is a private property development company. They are looking for a Senior Manager - Project Accounting to join a dynamic team environment.
Why Work Here
- Lots of opportunities to grow within the company
- Great area and space to work in
About the Opportunity
- Manage and oversee the full accounting cycle for multiple development projects.
- Perform timely month-end close and ensure recording all pertinent transactions including setting up of monthly accruals and properly document journal entries
- Perform regular bank, trust deposit and loan reconciliations
- Review and preparation of receivables and ensure timely collections
- Monthly reconciliation of intercompany accounts
- Monthly review of projects’ trial balances and maintenance of key schedules for letters of credit, loan amortizations, other and accrued liabilities, and equity roll; and ensures that all control accounts are reconciled to the subsidiary ledgers
- Manage cost ledgers for any misclassification of costs and record required cost accruals (invoices, interest, cost to complete, etc.)
- Record acquisition entries and analyze joint venture and management agreements
- Monitor the purchase order and contracts with change orders are in line with the commitments and budgets and processes are maintained.
- Prepare monthly draw requests (equity cash calls, deposits, and/or construction loan), coordinate, and respond to project monitor inquiries
- Maintain ongoing analysis of project budgets on a pro forma basis
- Cost variance analysis and accruals
- Track and analyze joint venture fees
- Recording of loan proceeds and ensure completeness of back-up information
- Manage home closing process and bank loan pay-out
- Review of purchasers’ files, prepare the interim and final closing worksheets, coordinate and approval of Statement of Adjustments, and post sales
- Record unit closing entries and loan payments
- Calculate cost of sales allocation on closed units, and cost-to-complete accruals
- Prepare cashflow forecast including waterfall distribution (return of capital and cash distribution)
- Reconcile property taxes by unit and calculate purchasers’ tax refund, if any.
- Facilitate mortgage and construction financing and maintain schedules.
- Manage projects’ reporting
- Prepare financial reports for submission to internal and external partners
- Assist in compliance reporting to lenders and government
- Monthly filing of projects’ HST return
- Prepare year-end working papers, review adjustments, and manage audit requirements
- Administration and process improvements
- Set up project budgets, change orders and estimates in the accounting system, as well as implement control and maintenance activities including the PUD accounts.
- Coordinate with the operations and other teams to process monthly property financials (i.e. invoice coding, purchase orders, project details and variance analysis) as needed.
- Identify and implement process re-engineering opportunities
- Ensure compliance with Generally Accepted Accounting Standards (IFRS and ASPE), internal audit and client accounting services and internal review standards.
About You
- 5 years in project, development, and construction accounting as a manager.
- Experienced with construction draws and project closures.
- Worked with small to mid-sized developers.
- Proficient in real estate software (ex. JDE, Newstar, Yardi).
- Supervisory experience
- CPA is very nice to have
- Presentation experience
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.
When referencing this job, quote #427283.
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.
Vaco values a diverse workplace and strongly encourages women, people of color, LGBTQ+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.
EEO Notice
Vaco is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race (including but not limited to traits historically associated with race such as hair texture and hair style), color, sex (includes pregnancy or related conditions), religion or creed, national origin, citizenship, age, disability, status as a veteran, union membership, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, political affiliation, or any other protected characteristics as required by federal, state or local law.
Vaco LLC and its parents, affiliates, and subsidiaries are committed to the full inclusion of all qualified individuals. As part of this commitment, Vaco LLC and its parents, affiliates, and subsidiaries will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@vaco.com .
Vaco also wants all applicants to know their rights that workplace discrimination is illegal.
By submitting to this position, you agree that you will be giving Vaco the exclusive right to present your as a candidate for the foregoing employment opportunity. You further agree that you have represented information about yourself accurately and have not affirmatively misrepresented your qualifications. You also agree to maintain as confidential, to the fullest extent permitted by law, any information you learn from Vaco about the position and you will limit disclosure of information about the position only to the extent necessary to perform any obligations in furtherance of your application. In exchange, Vaco agrees to exercise reasonable efforts to represent you through all solicitation, job screening and resume dispersal.
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Pay Transparency Notice
Determining compensation for this role (and others) at Vaco depends upon a wide array of factors including but not limited to:
- the individual’s skill sets, experience and training;
- licensure and certification requirements;
- office location and other geographic considerations;
- other business and organizational needs.
With that said, as required by local law, Vaco believes that the following salary range referenced above reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure. The individual may also be eligible for discretionary bonuses.