Log In
Sign Up
At Grosvenor, we seek to recruit and develop people who share our values – Integrity, Respect and Trust – and have the skills and ambition to help us implement our strategy.
About Grosvenor
Grosvenor Group is one of the world’s largest privately-owned property businesses. We develop, manage and invest in property in more than 60 cities globally.
We aim to diversify our property portfolio by geography, sector, activity, currency and management teams through our four regional Operating Companies and our Indirect Investment business.
Grosvenor Britain & Ireland, Grosvenor Americas, Grosvenor Asia Pacific and Grosvenor Europe operate in a devolved structure model, each being responsible for its own property strategy founded on local experience and assessment of market opportunities. Grosvenor Group’s Indirect Investment business is tasked with further diversifying Grosvenor’s property related interests beyond the expertise and strategies of our four regional Operating Companies. It invests Grosvenor’s capital in Africa, Australia, Europe, South America and the USA.
We create, invest in and manage properties and places applying rigorous financial discipline to achieve commercial success. But we do so with the aim of making a lasting contribution, today and for future generations, to the economic, social and environmental wellbeing of the urban communities we are part of and on which our own success is dependent. It is what we call our Living cities philosophy, which guides our activities to help foster thriving places which reflect the spirit of individual cities, ultimately contributing to their enduring success.
Grosvenor Americas has been active in North America since 1953 when the company purchased Annacis Island for industrial development outside of Vancouver, British Columbia. The company is structured around three main business activities: Investment, Co-Investment and Development. It operates in Washington, D.C., Seattle, the San Francisco Bay Area, Los Angeles, Vancouver and Calgary and takes a particular interest in urban mixed-use property.
Please visit
www.grosvenor.com
for additional information about the company
Purpose of role
This position will focus on investment property accounting and reporting. Specifically, this position will apply accounting principles to monitor, review, reconcile, and analyze financial information from third party property management companies to ensure that property level accounting is accurate. The position is oriented to providing support to upper Finance Management and must collaborate with the Investment Management department with all aspects of accounting related to investment properties. Individual will be expected to work independently with the support of the Accounting Manager, Investment.
Key responsibilities
To perform this role successfully, an individual must be able to perform each key responsibility satisfactorily. The requirements listed below are representative of the knowledge, skills, and/or ability needed. Other duties may be assigned as needed within skill sets or if additional responsibilities are added.
- Review financial information prepared by third party property management companies, to ensure all accounts are accurate and complete. Provide variance analysis to budget.
- Assist third party property management companies and property accountants with accounting issues (i.e., new lease setup, early lease termination, deferred rent, aging discrepancies, budgets, bank reconciliations, CAMs, capital expenditures and fundings).
- Maintain the investment properties’ corporate entity books and record all transactions (i.e., audit fees, bank fees, distributions, contributions, appraisal fees and debt service).
- Calculate and account for asset management fees and invoicing, where applicable.
- Ensure that accounting records are compliant with IFRS, including recording IFRS journal entries for quarterly investment property valuation adjustments.
- Analyze financial information and prepare account analysis, including reconciliation of contribution, distribution, and intercompany entries and balances.
- Review and execution of bi-monthly investment property funding requests, including ensuring all capital expenditure is approved by investment managers and within budget, and that correct accounts are used.
- Prepare, review, and reconcile cash monthly, including bank reconciliations.
- Resolve accounting issues for third party property management companies.
- Support the Finance Reporting team with the calculation of quarterly partnership distributions for joint venture partnerships.
- Compile financial information and maintain FAS schedules for capital expenditures on U.S. based investment properties and collaboration with Finance Reporting team to ensure appropriate tax depreciation methods are applied and calculated correctly.
- Assist Accounting Manager, Investment, and the Investment Management department on special projects including, but not limited to, accounting for acquisitions, dispositions and financing transactions, implementation of policies and procedures.
- Regular interaction with investment managers for property updates and provide advice on accounting entries, reports and comparative analyses.
- Provide managers with necessary information for decision-making.
- Assist property management company with accounting software (MRI) issues. Serve as back up for MRI.HELP.
- Assist with annual property budget preparation process, including supporting third party property management companies, and preparation of annual corporate budgets for investment properties.
- Assists with external audits by helping resolve queries and providing requested schedules and support.
Key requirements
- Bachelor’s degree in Accounting or related field from a four-year college or university, or equivalent combination of education and experience.
- Good understanding of GAAP and IFRS Principals.
- Accounting experience (with real estate investment/property management preferred).
- A team player with strong personal and work ethic.
- Flexible and adaptable to new ideas and ways of working.
- Experience with MRI accounting software is an asset.
- Strong attention to detail and ability to meet deadlines.
- Self-motivated and driven, with the ability to handle multiple tasks.
- Strong written and oral communication skills.
- Proficient in Microsoft Excel and Word.
Working conditions and physical requirements
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- The employee is often required to sit for long periods and use their hands and fingers to operate office equipment and to manipulate keys on a keyboard.
- The employee is required to talk and hear.
- The employee is occasionally required to stand, walk, reach with arms and hands, lift, climb or balance, and to stoop, kneel, crouch or crawl.
- Vision abilities required by this job include close vision.
- An office environment with a noise level that is usually quiet to moderate.
- The employee is occasionally exposed to moving mechanical parts and vehicles.
Job description revision
This is not necessarily an exhaustive list of all responsibilities, skills, duties, requirements, efforts or working conditions associated with this job. While this job description is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change. This job description replaces all previous descriptions for this position.
An Equal Opportunity Employer
Grosvenor provides equal employment opportunities without regard to age, ancestry, color, creed, mental or physical disability, marital status, medical condition, national origin, race, religion, sex, sexual orientation, veteran status, or any other consideration made unlawful by federal, state, or local laws.
At Grosvenor we value diversity and we are proud to be an equal opportunity employer. We are committed to promoting and protecting the physical and mental health and well-being of all our people. If you need assistance or reasonable adjustments due to a disability, please provide details along with your application
To apply for this job please click “Apply” below. To start your application you will be asked to create an account.
Please carefully read our Recruitment Privacy Notice before proceeding with an application. The privacy notice sets out how Grosvenor obtains, uses and protects the personal information which you provide to us. You can read the notice here –
https://www.grosvenor.com/legal/recruitment-privacy-notice
