Job Description

COMPANY OVERVIEW

Brookfield Properties is a premier real estate operating company, providing integrated services across all property investment strategies of Brookfield Asset Management (“Brookfield”) — a global alternative asset manager with over $285 billion in AUM. The focus of this role is with Brookfield Properties North American Portfolio.

DESCRIPTION: Financial Accounting role within the Design, Construction and Development teams

REPORTING TO: Director, Development Accounting

RESPONSIBILITIES: Financial and management accounting role working directly with design, construction and development teams to monitor, track and report costs of assigned projects and properties, including budgeting and forecasting, providing timely and accurate management & financial reporting, and assisting in the audit/review process. Detailed responsibilities include but are not limited to:

Financial Accounting / Audit

• Perform core finance / accounting function per Generally Accepted Accounting Principles (GAAP) for assigned projects:
  • General Ledger (GL) ownership
  • Convert accounting basis to International Financial Reporting Standards (IFRS)
  • GL account reconciliations
  • Record adjusting journal entries in the accounting software (ie Yardi): accruals, prepayment relief, etc.
  • Bank reconciliations
  • Equity reconciliations
  • Financial statement and Annual Accounts preparation
  • Joint Venture (JV) reporting, as necessary
  • Variance analysis
• Ensure invoices are recorded in the GL correctly in the relevant software applications
• Maintain and understand various accounting bases: cash, accrual, US Tax, GAAP and IFRS
• Work with the regional property accounting team and other Brookfield accounting teams, as necessary
• Prepare detailed year-end reconciliations, analyses and audit working papers.
• Provide supporting documentation and assistance to internal / external auditors, as needed.
• Other financial reporting as required by corporate and fund / ownership structures

Development Accounting and Reporting

• For specific projects assigned, manage cost and development accounting functions:

  • Maintain budget information, budget availability and payment information for approved budgets and related loan budgets
  • Manage commitments, change orders and/or purchase orders
  • Ensure contractor requisitions and project invoices are correctly coded and allocated
  • Prepare wire transfers to external vendors, related parties and intercompany entities Prepare monthly loan requisitions and capital calls, as necessary

• Work with other functional teams, Design & Construction, Development, external accounting teams, as necessary, to maintain a current status of the projects

• Develop working relationships with key external vendors, i.e. general contractors

• Prepare development reporting for assigned projects:

  • Routine reports, mainly the monthly Control Sheet and region package for the corporate office
  • Monthly debt reporting and analysis required for any refinancing and/or building appraisals
  • Quarterly forecasts, invoicing of operating expenses recoveries, C.P.I. adjustments and security deposit transactions
  • Assist with annual budgeting process, detailed variance analysis, and balance sheet analysis

• Work with Legal, Marketing, Finance and other functions to ensure costs are represented correctly

• Ensure routine reports are prepared and distributed in a timely and accurate manner

• Prepare ad hoc analysis or special reports, as necessary

EDUCATION: Bachelor’s Degree from an accredited university in Accounting required; CPA preferred or passed part(s) of the CPA exam)

• TECHNICAL SKILLS:

• Knowledge of Generally Accepted Accounting Principles and/or International Financial Reporting Standards (IFRS), specifically, real estate

• Minimum five years of public accounting and /or Real Estate Development or Construction financial accounting experience

• Strong analytical ability; detail oriented with strong initiative and analytical skills.

• Well organized; self-starter, able to handle multiple priorities

• Ability to work independently or as part of a team in a highly deadline driven environment.

• Advanced proficiency in MS Excel and MS Word; Experience with ERP systems (YARDI, SAP, MRI etc) and implementing software applications a plus

• Candidate should be enthusiastic and motivated to succeed in a collaborative team environment

• Possess excellent communication, presentation and interpersonal skills

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