Fengate is seeking a Senior Financial Analyst to join their finance team in the Real Estate Group. Reporting to the Manager of Finance, the successful candidate will work closely with the Finance team, the Developments (Land entitlement, construction, tendering) team, the Investments team and other stakeholders including our partners to deliver the best-in-class service. The successful candidate will support end-to-end consolidated financial reporting for a master-feeder fund, known as the Master Development Fund (MDF) which consists of several real estate development funds (Sub-Funds) as well as prepare consolidated return calculations and consolidated investor reporting.
KEY RESPONSIBILITIES
Financial Statements amp; Analysis:
- Prepare and review quarterly and annual financial statements for Master Development Fund for internal management, investors and year-end audit with high attention to detail on note disclosures
- Maintain the books of record for the consolidated entity Master Development Fund including ownership and deployment of capital subscriptions and commitments workbooks, and utilization of line of credits and bank reconciliations
- Run the day-to-day finance operations of fund investments within Master Development Fund through capital call notices, banking compliance, distributions, and intercompany transfers with a keen sense of detail and understanding of cashflow
- Maintain the workbooks for expense and cash reconciliation across the different investors within Master Development Fund
- Work in concert with the operations to understand the status of development projects, operational issues, key milestone days, key construction costs, and other developmental matters as it pertains to the start to end of the development real estate life cycle.
- Review, organize, code, and submit vendor invoices for payment in a timely manner and cash management of operating and facility accounts
- Support CRA account set ups for new development projects and facilitate the Limited Partnership, Corporate and Trust returns on an annual basis
Investor Returns, Project Level Returns and Fund Returns
- Prepare quarterly investor reports on the performance of the investments alongside the investments team, development team and Finance
- Foster strong working relationships across the businesses, and work proactively to identify opportunities for finance to act as a strategic business partner
- Understand sources and uses of cash as it pertains to equity deployed, partner equity, debt
- Identify trends in returns and escalate non-performance or performance below expectations to the appropriate levels of management
- Add your own insight into how the assets are performing and link operation matters and key milestone performance and/or delays in development to building expectations of the returns.
- Ad hoc investor reporting as required.
Capital, Debt, Treasury Support
- Maintain, monitor, and provide value add feedback of our total capital allocation structure based on funds deployed and funds available for deployment e.g. capital we have available for recycling
- Understand the impacts of capital and distribution assumption changes to fund returns, reporting note disclosures and impact to investors
Business Partnership / Continuous Improvement
- Develop good business rapport with the operations team, finance team and other stakeholders
- Identify and implement continuous process improvements across different areas of scope
- Ad hoc projects and support as required
Requirements
KEY QUALIFICATIONS
- Undergraduate degree in accounting or finance
- CPA, or near completion of designated, with 3+ years of relevant experience in the industry with desire to grow
- Experience working in the space of asset management, real estate, private equity, land development or construction teams is an asset but not required
- Prior experience with fund reporting (open or closed ended funds) is an asset but not required
- Strong Excel modelling skills, ability to construct professional PowerPoint presentations
- Strong understanding of statement of earnings, balance sheet, cash flows, IRR, ROIC, etc.
- Keen sense of how consolidated financial statements and note disclosures need to be presented and reviewed
- Genuinely curious with a desire to understand key metrics and drivers
- High attention to detail, strong understanding of accounting principles, ASPE, GAAP, etc.
- Strong customer focus with excellent relationship building and a collaborative working style
- Exceptional communication skills, both written and verbal, including the ability