MaRS Discovery District (@MaRSDD) in Toronto is the one of the world’s largest urban innovation hubs. MaRS supports promising young ventures tackling key societal challenges in the Health, Energy & Environment, Work & Learning and Finance & Commerce sectors. In addition to helping startups launch, grow and scale, the MaRS community is dedicated to cross-disciplinary collaboration, commercialization of discoveries and driving ideas to impact.
About this Opportunity
Reporting to the Senior Manager, Property Accounting, the individual will be responsible for the real estate accounting, maintain detailed budget and forecast models for the MaRS Centre (Phase 1 & Phase 2). This individual will support and work collaboratively with MDEI team and also collaborate closely with the MaRS DD’s finance team.
The successful candidate will be detail-oriented and proactive, with a strong knowledge of accounting and business principles, and an advanced knowledge of MS Excel. This individual is eager to learn, has strong customer-service skills and adapts well to change, demonstrates ability to function calmly and effectively under pressure, and to manage shifting priorities within a manual/Excel-based environment.
Financial Accounting and Reporting
- Ensure accounting and financial practices are executed in accordance with GAAP and established internal controls.
- Monthly reporting, including month-end entries with proper supporting schedules, preparation and review of accruals, actual to budget variance analysis, bank reconciliations, HST returns, review monthly rent up reconciliations.
- Review and ensure accuracy of the expense coding of invoices processed during the month.
- Prepare balance sheet account reconciliations for review, highlighting issues to be resolved and preparing adjusting entries as required.
- Provide support for the annual audit through preparation of schedules and supporting documentation.
- Assist with preparation of quarterly financial statement packages.
Property Management Accounting
- Maintain tenant recovery models in Excel and ensure they agree to recovery methodology and leases.
- Prepare and record operating costs and realty tax adjustments on a monthly basis and complete recovery shortfall analysis.
- Prepare annual operating cost statements and final billings to tenants in accordance with the lease terms.
Budget & Forecast
- Contributes to the preparation of detailed annual budgets, forecasts and reforecasts, including calculating key accounting budget items such as CAM, Utilities, and Tax recoveries by tenant, straight line rent, and fixed assets.
Construction and Project Accounting
- Utilize Excel to maintain a system to track capital project costs including (original budgets, cost incurred, holdbacks) and reconciling to the general ledger.
- Maintain capital assets continuity schedule, including capturing additions, monthly accrual, calculation of depreciation.
- Liaise with various departments/teams regarding related accounting matters, provide accounting guidance and respond to queries.
- Analyze financial and non-financial information by querying the MaRS ERP and other systems.
- Participate in special projects and process improvements.
- Managing lenders and banking administration.
- 5 to 8 years of full-cycle real-estate/property accounting experience.
- CPA designation, actively pursuing CPA, or equivalent experience combined with university degree or post-secondary education preferably in Accounting or Business Accounting.
- Knowledge of MRI accounting software is considered an asset.
- Experience with ASPE accounting standards is an asset.
- Strong service orientation, with a demonstrated ability to collaborate.
- Demonstrated ability to understand complex issues, financial concepts and "to connect the dots".
- Strong analytical and critical thinking skills.
- Driven to achieving results and continuously striving to deliver the highest performance through creative thinking.
Applicants must be legally eligible to work in Canada and must currently be residing in Ontario.
MaRS Discovery District is committed to diversity and encourages applications from all qualified candidates, including aboriginal persons, francophones, members of sexual minority groups, persons with disabilities, visible minorities and women. We will provide any requested accommodation to candidates with disabilities throughout the recruitment process.