Senior Property Accountant

Manulife Financial Corporation
Toronto, Ontario, Canada
Competitive salary
16 Sep 2020
18 Sep 2020
Job role
Experience level
Qualified accountant
Are you looking for unlimited opportunities to develop and succeed? With work that challenges and makes a difference, within a flexible and supportive environment, we can help our customers achieve their dreams and aspirations.

Job Description

Manulife's Real Estate Accounting business is looking for an individual to join the team who will be responsible for property accounting on a complex set of commercial real estate assets that could include office, industrial, and retail properties located within our global portfolio. In this role you will prepare month-end, quarter-end, and year-end property accounting financial statements according to accounting standards and conduct comprehensive business-focused variance analysis and commentaries regarding variances. In addition, you will participate in special projects and operational improvements while ensuring accounting processes are executed efficiently and effectively across the portfolio. You should be familiar with using technology and act as a mentor and go-to resource for Property Accountants.

Key Accountabilities
  • 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 the need arises.
  • 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.).
  • Setup and maintain straight line rent and responsible for straight line rent variance analysis.
  • Contributing 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
  • 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.
  • 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.

Knowledge & Skills
  • Professional accounting designation (CPA) is required with university degree in a related discipline.
  • 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 partners.
  • Highly organized with an exceptional attention to detail.
  • Effective time management skills, works well under pressure to meet tight deadlines; ability to prioritize multiple demands and competing priorities; 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 outstanding integrity, always striving to do the right thing and help to create an environment built on trust, integrity 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.

If you are ready to unleash your potential, it's time to start your career with Manulife/John Hancock.

About Manulife

Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife elsewhere. We provide financial advice, insurance, as well as wealth and asset management solutions for individuals, groups and institutions. At the end of 2018, we had more than 34,000 employees, over 82,000 agents, and thousands of distribution partners, serving almost 28 million customers. As of June 30, 2019, we had over $1.1 trillion (US$877 billion) in assets under management and administration, and in the previous 12 months we made $29.4 billion in payments to our customers. Our principal operations in Asia, Canada and the United States are where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong.

Manulife is an equal opportunity employer. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention and advancement and we administer all of our practices and programs based on qualification and performance and without discrimination on any protected ground. It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will consult with applicants contacted to participate at any stage of the recruitment process who request any accommodation. Information received regarding the accommodation needs of applicants will be addressed confidentially.