About QuadReal Property Group
QuadReal Property Group is a global real estate investment, operating and development company headquartered in Vancouver, British Columbia. Its assets under management are $94 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities to invest in equity and debt in both the public and private markets. QuadReal invests directly, via programmatic partnerships and through operating platforms in which it holds an ownership interest.
QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.
QuadReal: Excellence lives here.
www.quadreal.com
Role Description
The role of the Senior Development Accountant (SDA) at QuadReal Property Group is to maintain and document the financial status of commercial and residential properties under development within the West portfolio. The successful SDA takes full ownership of his/her portfolio and is fully proficient in both the technical and non-technical requirements of Development/Cost accounting. In addition, the SDA possesses qualities that set them apart and allows them to act as a resource for the development team(s).
Key Responsibilities:
- Handle all aspects of accounting for development projects with minimal supervision, including project budgets, and forecasts for multi-phased developments.
- Develop and maintain project budgets, including original and revised costs, projected final costs, and variance analysis. Ensure proper tracking of committed and incurred costs for project assigned.
- Review and approve invoices, contracts, change orders and purchase orders.
- Track and report project fees in accordance with underlying agreements.
- Monitor and calculate purchaser/sales and vendor/cost holdbacks and their releases in accordance with provincial lien legislation.
- Prepare monthly construction loan draws, capital calls, and financial reporting for joint ventures and lenders. Monitor cash flow and budget variances, ensuring financial health throughout the development lifecycle.
- Set up and maintain projects in accounting systems (e.g., Yardi job cost or similar), ensuring all project costs, budgets, and forecasts are accurately recorded.
- Utilize accounting software and project management tools to track job cost, manage budgets, and generate financial reports efficiently.
- Coordinate with sales, marketing, and legal teams to ensure proper accounting for development sales and conveyance transactions.
- Track costs related to individual unit sales and manage cost allocations for completed units.
- Facilitate the transition of properties from Project Under Development (PUD) to Investment Property Portfolio (IPP), working closely with the property accounting team to ensure smooth transitions and proper accounting for completed properties.
- Support the coordination between the development team and property accounting to ensure accuracy during the transition phase.
- Liaise with the development, construction, finance, and sales & marketing teams to ensure accurate and timely accounting for development projects.
- Assist in preparing monthly working paper files, financial statements, job cost activities, and operating metrics for senior management and stakeholders.
- Assist in the preparation of Project Status Reports and provide financial updates during project status meetings.
- Maintain and update the Development Accounting Policies and Procedures Manual and playbooks, ensuring compliance with company standards and industry best practices.
- Assist in the design and implementation of internal controls and accounting procedures related to development projects.
- Mentor and provide guidance to junior team members, fostering a collaborative work environment and ensuring all responsibilities are met within established deadlines.
- Other duties as assigned.
Experience and Qualifications:
- Professional accounting designation or equivalent commercial real estate accounting experience required.
- Minimum 5 years accounting experience in a development accounting environment including experience in real estate and construction, with a focus on multi-phased, high-rise, or concrete residential developments.
- Strong expertise in managing construction loan draws, proforma setup, scenario analysis, and job cost tracking.
- Experience with transitioning properties from PUD to IPP, including the coordination of financial reporting and asset management.
- In-depth knowledge of development sales, conveyance processes, and lien holdback legislation.
- Specialized computer skills in a range of software including: Yardi and Microsoft Office.
- Intermediate to advanced excel
- Self-starter and organized
- Effective decision making within level of authority
- Problem solving and analytical skills
- Effective communication, written and verbal
- Teamwork, ability to develop and maintain cooperative working relationships
- Contribute to a positive work environment / culture
Don’t have all of the above skills? Don’t worry, we still want to hear from you!
The expected annualized base salary range for this role is $90,000 - $100,000
The actual salary offered will take into consideration a wide array of factors including, but not limited to, the individual’s skill, experience, education and training, the market compensation of the role, and the consideration to internal equity.
QuadReal offers a competitive total rewards package in addition to the base pay, which includes a performance-based incentive plan, comprehensive health & dental benefits, a defined contribution pension plan and paid time off.
Note to Recruiters: QuadReal does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to QuadReal, directly or indirectly, will be considered QuadReal property. QuadReal will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for engaged services to submit resumes.
QuadReal Property Group will provide reasonable accommodation at any time throughout the hiring process for applicants with disabilities or for those needing job postings in an alternate format. If you require accommodation, please advise the Talent Acquisition team member you are working with and include the following: Job posting #, your name and your preferred method of contact.
