Development Accountant
Toronto, Ontario
Finance and Accounting – Corporate Accounting /
Full-time /
On-site
Allied is looking for a Development Accountant to join our Finance and Accounting team.
At Allied, everything starts with purpose. In the role of Development Accountant, you will be focused on reporting, forecasting, and financial analysis for current and future development projects, including the maintenance of schedules for external reporting disclosures. This position will support the construction and development teams in the review of proformas for development projects, and the finance and accounting team in the annual budget, liquidity forecasting and capital approvals.
Who are you?
We are building upon our achievements at Allied, and the future is exciting. How can we be so sure? We have people like you: engaged professionals who consistently deliver their best.
Throughout your career, you have stood out for your pursuit of excellence. You are self-motivated, take ownership, and lead by example. In doing so, you elevate your team and collaborate towards your collective goals.
Above all, you are excited by Allied’s mission and the contribution we make to enhance cities and communities.
What will you do?
- Support the development/construction team in all financial matters.
- Preparation of quarterly development disclosure information to be include in the MD&A.
- Review of proformas prepared by Construction/Development Managers for current and future projects, as well as for potential acquisitions, including formula validation, sensitivity and reasonability for leasing and development inputs and determining impact on project and consolidated financial metrics.
- Work collaboratively with the development and construction teams to ensure project proformas are updated regularly and reviewed for accuracy.
- Work closely with Allied’s joint venture partners to ensure accurate information is reported and validated as the basis of internal budgeting and for external disclosures.
- Review monthly and annual cash flow forecasts for current and future development projects as provided by Construction/Development Managers.
- Prepare monthly and ad-hoc funding requests for development projects under joint-venture operations, and reconcile cumulative costs and provide to treasury team for funding.
- Prepare annual cash flow analysis for development projects including anticipated requirements for liquidity reporting, reforecasting, budgeting and business needs.
- Review monthly and annual cash flow and budgets for current and future development projects.
- Communicate routinely with Development team on a variety of job-related topics, including initial budgets, costs to date, remaining budget, and project completion.
- Support the Construction/Development Managers and the Finance & Accounting team in the accrual process for development projects.
- Prepare the Development Leasing schedules for external reporting purposes on leasing updates.
- Support the calculation of development fees and other items in accordance with various Development Management Agreements, or other loan agreements.
- Maintain organized and current project accounting files.
- Maintain the schedule of potential intensification area.
- Review, tie-out and validate amounts within the quarterly external disclosures.
- Coordinate with Capital Committee on development capital requests for proforma modifications and approvals.
- Summarize, review and maintain the schedule on capital included in quarterly IFRS models for valuation purposes.
- Support with property valuations as required.
- All other duties as required.
What are we looking for?
- Bachelor degree or equivalent, working towards completion of a designation (CPA, or CFA) is an asset.
- Minimum of two years of professional experience.
- Strong interpersonal skills, including a proven ability to build relationships.
- Collaborative worker; effective member of a team.
- Demonstrated strong financial modelling and variance analysis skills.
- Proficient with Excel, Word and Outlook applications.
- Ability to work under pressure in meeting deadlines, by managing multiple priorities and utilizing strong organizational and time management skills.
Who are we?
Allied Properties REIT (TSE:AP.UN) is a leading owner and operator of distinctive urban workspace in Canada’s major cities. Allied’s business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity.
We are also a great place to work. Allied is listed as a 2023 Best Employer in Canada as part of Kincentric’s Best Employers global certification, which distinguishes organizations that demonstrate strong results in employee engagement, organizational agility, engaging leadership and talent focus.
We are committed to hiring the most qualified candidates with a dedication towards supporting diversity, equity and inclusion across our organization. All qualified applicants will receive consideration for employment without regard to gender, ethnicity, origin, sexual orientation, disability and socioeconomic background.
Note: If you require any form of accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.
