Controller, Oakridge Real Estate Development
Westbank is a practice dedicated to the creation of beauty, in all forms and in the broadest definition. As we have grown, the category of a real estate developer has become too narrow to contain the essence of our practice. We are not motivated by the same things as a typical developer, our values are different: we invite collaborations with cultural pioneers, allowing their work to inform and influence our projects. We develop relationships with creatives so that we function as patrons of their art, rather than consumers of creative services. We embrace our eclectic nature, seeking out willing collaborators in art, culture, music, fashion, technology, sustainability, and architecture, while taking on projects at every scale, from the micro to the macro level.
We are and have always been, a practice seeking to make meaningful contributions and we see the creation of beauty as the means to this end. Through these endeavors, we have come to realize that too often, beauty is mistaken as a luxury, an option or an accessory, when we have never seen it as anything less than essential. Recognizing this, we have taken it upon ourselves to fight for it; to create it, to foster it and to celebrate it. In committing our efforts fully to this cause, we have evolved beyond the definition of a real estate development firm, to become a culture company.
Controller, Oakridge Real Estate Development
We are seeking an energetic and self-motivated Controller to head the accounting team responsible for the development and management of the real estate operations. Reporting to both partners, and working in downtown Vancouver, this individual will oversee all accounting related functions. While the Controller will leverage current systems and controls in both Quadreal and Westbank, this individual will develop policies and procedures that address the unique nature and requirements of the development itself. The successful applicant must have strong real estate accounting experience, primarily in project development, and be adaptable to a regular set of challenges that only exists in a mixed-use, multi-tower, long term development of this scale and nature.
Responsibilities include but are not restricted to:
Management & Review
- Provide monthly reporting (both verbal and written) to partners, identifying issues, KPI’s, costing updates and cash flow projections
- Plan an organizational structure for the accounting staff, assembling a team that will perform all accounting for the development, maintaining flexibility and efficiency to adapt to regular changes and demands
- Oversee the accounting team, providing leadership and guidance in all aspects
- Review monthly project draws and financial statements prepared by the accounting team
- Review and provide accounting support for all major contracts encompassing organizational structure, governance, development, marketing, financing and property management
- Oversee the preparation of all monthly accounting reports, proformas, bank draws, budgets & forecasts, including all supporting working papers
- Set accounting standards, policies, procedures and controls for all accounting functions
- Maintain all short term and long term cash flow projections, obtaining financing from partners, lending institutions and others in an efficient and timely manner
- Administer all costing pool allocations for mixed use projects (specific invoice/contract allocations, overall net yield allocations)
- Experience in utilizing the net yield method to allocate costs within a complex multi use development project
- Coordinate activities and expectations with both partners, including development, finance, marketing, sales, administration and accounting departments
- Provide support to the finance departments of both partners
- Primary liaison for all accounting related consultants, including auditors, tax advisors, legal support, CRA
- Coordinate all accounting related activities of construction management teams, whether internally or externally operated
- Work directly with project managers, hard cost accountants, finance analysts, project coordinators and general managers to understand and maintain budget analysis and cost overages
- Ensure adherence by consultants of all insurance requirements
- Coordinate annual audit requirements, banking reporting and other
- Adhere to all financial, legal and international (where required) governance requirements per separate partnership/joint venture agreements, government regulations and legal responsibilities
Required Experience and Qualifications
- Post-Secondary Degree and CPA designated
- Minimum 10 years’ directly related accounting experience with a minimum of 2 years in a controller level position
- Managed a minimum of 3 accounting staff
- Extensive experience within the Real Estate industry, particularly in accounting for complex multi-use project developments
- Experience with complex budgets, forecasting and executive presentations
- Superior attention to detail and organizational skills
- Extensive computer knowledge, including Excel
- Preference in knowledge in JD Edwards
- Thrives working in a busy, high volume challenging environment
- Ability to handle and prioritize conflicting deadlines from various sources
Compensation commensurate with experience.
About Oakridge Vancouver
Influential, innovative and progressive, Oakridge Vancouver will serve as a global example for world-class architecture, design, transit-oriented transportation and mixed-use urban development.
A top-performing asset in a global city, QuadReal and Westbank share an ambition to transform this already successful centre (Oakridge Centre) into a cultural hub and a new municipal town centre for the City of Vancouver.
Oakridge Vancouver will comprise 2600 homes for 6000 residents, half a million sf of office for 3000 creative economy workers, over a million sf of retail, including a 50,000 sf ‘Kitchen’ within a 100,000 sf of curated culinary experiences, a 10-acre park, a +3000 capacity music venue, a world-class performing arts academy and dozens of informal performance spaces around the site for events, festivals, and celebrations – all powered by a neighbourhood district energy system.
Our journey to create what will become nothing less than the evolution of the conventional post-war typology, towards a modern, transit-oriented, district energy fueled, mixed-use piece of urbanity is beginning now. We invite you to join us.
The redevelopment of Oakridge is a joint venture between QuadReal and Westbank, two of Canada’s leading real estate enterprises.