Financial Accountant

Location

Business

As part of Brookfield Asset Management - one of the largest alternative asset managers in the world - we harness our resources to bring a fresh approach, unparalleled creativity, relentless innovation, and sound ESG practices to the planning, development, and management of buildings everywhere. From offices, retail spaces, and logistics facilities to multifamily residences, hospitality establishments, and mixed-use structures - we are reimagining real estate from the ground up.

We see tomorrow, today. At Brookfield Properties, we're a fully integrated developer so we know what it takes to go from concept to concrete, from blueprint to building. From vision, experience, resources, and ethics, every day we take these ingredients to partner with our communities, collaborating with the places where we work, customizing developments to meet the neighborhoods' specific needs, and identifying the highest and best use for each property to create unique and lasting places that bring people together. .

If you're ready to be a part of our team, we encourage you to apply.

Job Description

Key Relationships

Internal

Financial Executives, Accounting Managers and Supervisors, Financial Accountants, GAAP Compliance, Financial Reporting Group, Planning & Forecasting, Internal Audit, Tax, Capital Markets, Construction Cost Administration, Development and Construction Management, Accounts Payable, Lawyers and Vendors.

External

Business Partners, Governmental Agencies, Lending Institutions, External Auditors and Brookfield Affiliates.

Position Summary

The Financial Accountant focuses on the generation, preparation, and communication of information that is complete and accurate to support effective decision-making, management, internal controls, and financial reporting. The successful candidate will take the initiative to work independently and work as a driven and results oriented member of the Accounting team. Financial Accountants are responsible for completing a wide range of general accounting, real estate accounting, and reporting activities under the guidance and supervision of Accounting Managers, Supervisors or Senior Financial Accountants. Financial Accountants may be responsible for a product and/or property portfolio ranging from 5-10 projects and/or corporate/service/management entities depending on the level of accounting complexity involved. Financial Accountants' responsibilities reflect varying levels of capabilities and are expected to evolve as relevant experience is acquired and greater accountability is demonstrated.

Responsibility

Accounting Analysis, Reporting & Process Management

The Financial Accountant is responsible for the day-to-day accounting functions by ensuring all transactions are recorded and reported accurately, timely and completely in accordance with corporate accounting policies and procedures. Specific tasks include, but are not limited to:

• Maintains full trial balance integrity, including prepaid, development cost accrual, cash and fixed asset account balances
• Prepares recurring, non-recurring and adjusting journal entries for review
• Prepares appropriate documentation to support journal entry objectives and calculations
• Prepares quarterly and year-end audit work papers, including account balance reconciliations and intercompany relationship activity
• Prepares project cost to trial balance and investment reconciliations
• Monitors G&A costs at a detailed level, including review of employee expense reports, and prepares adjusting journal entries as applicable.
• Assist with quarterly and annual cost variance analysis
• Prepares ad hoc analysis, as requested
• Development, construction management and entitlement fee calculation preparation.
• Provide input to team on process improvement.
• Assist with preparing reporting packages to distribute to third parties as required to Lenders, Partners, Management and Asset Owners

Attend various department and inter-departmental meetings to:

• Obtain information regarding development operating activities, processes and issues
• Advise Management and other departments of issues and their impact, and offer solutions, where possible
• Obtain and communicate relevant information back to Accounting team as required

Cash Forecasting

The Financial Accountant is responsible for working with investment analysis and development teams to analyze project cash needs and reviewing monthly cash forecasts communicated to project asset owners. Specific tasks include, but are not limited to:

• Play a key role in project/division cash forecast process to align actuals with forecasting assumptions
• Cash Flow - Review monthly, quarterly and annual cash flow forecasts and variance analysis, as well as any monthly, quarterly, and annual predictive borrowing bases
• Preparing monthly project cost capital calls to Lenders and Asset Owners as required
• Business Plan - assist in the creation of detailed business plan rollups (including compensation, non-salary G&A, fixed assets, financing and other misc. description items), as well as any detailed analysis required on financial results

Audit/SOX Compliance

All SOX and compliance issues are managed and governed by Brookfield Properties Development (BPD) and Brookfield affiliate corporate groups. The Accounting team administers coordination of the implementation of all SOX compliance and internal control issues for the Division. Financial Accountant tasks include:

• Follow current policies and procedures to ensure proper and effective internal control. Provide input for improvements to current practices as needed.
• Provide ongoing review and evaluation of process documentation. Propose amending documentation where necessary
• On a periodic basis, responsible for providing information (financial and process, written and verbal) to the applicable external auditor for testing and compliance analysis

Special Projects

The Financial Accountant will be involved from time-to-time in projects that are relevant to the department and the division. These will be on an as-required basis and may include projects associated with other departments or within the Accounting Department. They may include items such as:

• Contributing to one-time assignments, participating in software enhancements and historical project analysis
• Automation/IT projects (e.g., automation work, report creation/changes, etc.)
• Process assessments (e.g., evaluating efficiencies within A/P invoice procedures)
• Streamline and automate processes making efficient use of financial systems

Leadership

The Sr. Financial Accountant is responsible for assisting and developing junior staff as applicable. This responsibility includes:

• Provide leadership, mentoring and guidance to junior staff
• Provide coaching to help team members excel in the company
• Review other Financial Accountants' work to assure accuracy and completeness of work output

Qualifications

• A bachelor's degree with a focus in Accounting, Finance, or related discipline from an accredited college or university is required.
• At least 1-2 years experience in public accounting with audit exposure and/or private industry accounting required.
• Desire to develop advanced accounting capabilities is essential.
• Proficient knowledge of general accounting principles and processes
• Experience with advanced accounting concepts such as equity method of accounting, variable interest entities and consolidations considered an asset.
• Experience with project costing and operational accounting systems and reports considered an asset.
• Basic people management and development skills
• Advanced skills in Microsoft Office Suite (Word, Excel, PowerPoint)

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Your Opportunity

We are proud to offer our employees what they value most:

• Competitive compensation

• Excellent extended health benefits

• 401k matching

• Generous tuition assistance program

• Leadership development and mentorship programs

• Charitable donation matching

• A culture based on our values of Passion, Integrity and Community

Brookfield Properties participates in the E-Verify process to confirm the eligibility of candidates to work in the United States.