The Role
Responsible for full-cycle accounting for real estate development projects, including financial statements, project setup, bank reconciliations, construction draws, sales closings, distributions, and project consolidations. Prepares joint venture reporting packages, cost-to-complete calculations, project budgets, reforecasts, and variance analyses. Collaborates with development, construction, business, and external stakeholders on accounting matters and project analysis.
Summary Generated by Built In
Who We Are
For over 30 years, our entrepreneurial mindset and strategic vision have fueled our growth into one of Canada’s largest and most successful REITs. Our retail-focused and mixed-use portfolio reflects our commitment to creating vibrant community spaces where people want to shop, live, work, and play. We take pride in our strong legacy while continuously adapting, innovating, and investing in the future. We’re proud to be recognized as one of Canada’s Most Admired Corporate Cultures, Canada’s Greenest Employers, Canada’s Best Diversity Employers, and a Greater Toronto Top Employer.
At RioCan, we believe our people are our greatest strength. We foster a welcoming, inclusive culture where employees can connect authentically, grow continuously, and bring their whole selves to work. Here, you’ll find opportunities to learn, lead, and make an impact every day.
POSITION OVERVIEW:
Reporting to the Development Accounting Manager, this position is responsible for the full cycle accounting duties of the properties under development. This role will be an integral part of the Development Accounting team and is a key business partner to the development and construction group to deliver project level accounting, financial reporting, and budget monitoring for all development projects.
RESPONSIBILITIES:
Project Level Accounting:
• Complete monthly, quarterly, annual accounting duties of a portfolio of development projects from project inception to completions. Duties include (but not limited to):
• Monthly financial statements, PUD schedules
• Development project setup in YARDI
• Recurring bank reconciliations, HST/ GST remittances
• Process construction draws /cash calls, and record and reconcile project distributions/contributions
• Condominium sales and closings
• PUD to IPP transfer
• Consolidate monthly financial results for 3rd party managed projects
• Development project setup in YARDI
• Recurring bank reconciliations, HST/ GST remittances
• Process construction draws /cash calls, and record and reconcile project distributions/contributions
• Condominium sales and closings
• PUD to IPP transfer
• Consolidate monthly financial results for 3rd party managed projects
Financial Reporting:
• Prepare financial statements and reporting packages for co-ownership / joint venture projects
• Calculate cost to complete and PUD/IPP value splits for IFRS valuation purposes
Budget monitoring:
• Prepare project budget and reforecast of a portfolio of development projects
• Prepare monthly variance reporting and analysis of project budget vs. actuals
Others:
• Collaborate with business stakeholders and external parties on accounting matters and ad hoc analysis of
development projects
QUALIFICATIONS:
- 1-2 years working experience in real estate.
- Post-secondary education preferably in accounting or finance.
- Experience in preparing financial statements and accounting working papers.
- Highly organized, logical with strong attention to detail and excellent documentation practices.
- Excellent written and verbal communication skills with the ability to communicate accurate accounting results with financial and non-financial stakeholders.
- Strong analytical skills, critical thinking, problem solving skills with high level of attention to detail and accuracy.
- Excellent interpersonal skills, with the ability to effectively interact with team members.
- Experience using JD Edwards, Yardi and Hubble would be an asset.
- Proficient in Microsoft Office - Excel, Word, Outlook, etc.
The base salary range for this role reflects compensation for candidates at varying levels of experience and proficiency. The salary will be determined based on the successful candidate’s relevant competencies, including skills, experience, education, and our teams’ requirements.
This posting is for an existing vacancy within our organization.
Why join RioCan?
We believe in rewarding you for what you do and investing in your career and long-term success. Our total rewards program is designed to help you thrive in every aspect of your life: physically, emotionally, financially, and socially. Here’s what we offer:
An Extensive Health and Benefits Program that includes health and dental benefits starting on day one, healthcare and wellness/lifestyle spending accounts, access to an employee family and assistance program, virtual healthcare services, and other resources to support your overall well-being.
A Comprehensive Retirement Program to help prepare you for your future. This includes matching employee contributions in a retirement savings plan, pension plan,
and an employee unit purchase plan.
Work/Life Balance that prioritizes you. Enjoy flexible work hours, an extra-long weekend with our RioCan Cares Day, and half days before every long weekend in the summer.
Professional Growth and Development opportunities to advance your skills and grow your career through our continuing education reimbursement, mentorship and leadership development programs, on-demand online learning, and cross-functional training opportunities.
Additional Perks and Benefits that include paid time off, parental leave top-up, employee discounts, referral and recognition programs, and year-round opportunities to connect through community initiatives, committees, and social events.
If you share RioCan’s values and a passion for real estate, we want to hear from you.
We are committed to creating a diverse and inclusive work environment where all employees are valued, included, and empowered to do their best work and bring great ideas. People are at the core of who we are, and we respect that they have taken all paths to get here. RioCan welcomes applications from all candidates and is committed to providing accommodations for people with disabilities. If you require accommodation at any stage of the application process, please let us know, and we will be happy to work with you to meet your needs.
You can visit us at www.riocan.com and follow us on LinkedIn to learn more about who we are and what a career at RioCan can look like for you.
Skills Required
- 1-2 years of working experience in real estate
- Post-secondary education, preferably in accounting or finance
- Experience preparing financial statements and accounting working papers
- Strong organization, logical thinking, attention to detail, and documentation practices
- Excellent written and verbal communication skills
- Strong analytical, critical thinking, and problem-solving skills
- Excellent interpersonal skills and ability to interact effectively with team members
- Experience using JD Edwards, Yardi, and Hubble
- Proficiency in Microsoft Office, including Excel, Word, and Outlook
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The Company
What We Do
At RioCan, we create spaces where we can all prosper. RioCan [TSX: REI.UN] is one of Canada’s largest real estate investment trusts. With a clear strategy, entrepreneurial spirit, and an unparalleled track record that spans over 30 year, we harness Canada’s most adaptable property portfolio and development pipeline to create vibrant community spaces where people want to shop, live, work and play. RioCan’s team is always looking ahead, anticipating trends, and adapting our portfolio to strengthen our market position. Focused on serving high density areas, our strategy for long-term growth builds on our foundational strengths, and creates opportunities to enhance value for our tenants, partners, and unitholders
