Thorek/Scott and Partners Looking for Managing Director, Real Estate Finance at Toronto, Ontario, Canada Full Time

Thorek/Scott and Partners (TSP) has been connecting accomplished organizations with talented individuals for almost four decades. At TSP, our track record of successfully completing challenging searches across the professional spectrum has earned us an exceptional reputation at the forefront of the recruitment industry. Our Canadian and International clients include: global banks and non-bank financial institutions, private equity and investment funds, professional service firms, and entrepreneurial businesses in a variety of industries. We value the human connection and distinguish ourselves through an unwavering dedication to understanding the goals and motivations of our clients and candidates alike.

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Our Client:

Forum Asset Management is a leading investor, developer, and asset manager that has been operating across North America for 25 years. Forum’s core purpose is to deliver Extraordinary Outcomes™ to their stakeholders. Forum is proud to have delivered in the top tier of alternative asset returns since 2002, while positively impacting over 6,000 lives. Their investment strategy is focused on Real Estate, Private Equity, and Infrastructure. The enterprise value of Forum’s assets under management currently exceeds $1.7 billion, and their projects attract top-tier investors.

Position Overview:

Forum is seeking a Managing Director, Real Estate Finance to play a critical role within Forum’s largest and growing platform. Forum’s Real Estate business is in a period of high-growth, focused both on direct, core, value-add and opportunity funds. They have recently launched their first Real Estate fund, the Forum Real Estate Income and Impact Fund (REIIF), which is an open-ended private REIT focused on Canadian Rental housing with high impact potential.

In addition to REIIF, they are building a billion-dollar development business focused on highly sustainable adaptive re-use and ground-up developments, along with a self-storage business across Canada.

The Managing Director will lead Forum’s Real Estate finance team and is directly responsible for all finance, accounting, and reporting of Forum’s Real Estate investments, both directly and through its Funds. The Managing Director is an energetic leader who thrives in a fast-paced entrepreneurial environment, with a demonstrated desire to lead the set-up of scalable business processes, leveraging technology.

With an entrepreneurial mindset, the Managing Director will optimize Forum’s financial Real Estate platform – leveraging capabilities from Forum’s corporate platform and outsourced service providers, while leading a high performing finance team.

Role Responsibilities:

The Managing Director has a team of finance professionals, supported by the broader Forum Corporate finance and accounting team. The role is reporting to the Managing Partner, Real Estate with a dotted line accountability to Forum’s CFO and Managing Partner and is responsible for:

1) Oversight for fund external and internal reporting, administration, treasury, and investor communications, which entails:

• Managing the fund administration and accounting which includes monthly NAV, carried interest calculations and investor statements.
• Partnering with operations to understand the drivers of business performance and comparison to plan & underwriting.
• Ensuring and managing an appropriate cash management and treasury forecasting framework, including cash visibility & positioning for the Fund to ensure payment of monthly distributions, property operating costs and ‘backstop’ liquidity to manage various financial risks.
• Leading the production of quarterly financial reports, in accordance with IFRS (IAS 40) Investment property) and on a proportionate basis for the Funds.
• Ensuring compliance with all lender reporting requirements.

2) Assist in various strategic objectives, including:

• Overseeing the REIIF corporate model, used for strategic planning, liquidity, and valuation purposes.
• Supporting investor relations efforts, which includes attending to Fund investor queries and assisting with ongoing capital raising efforts.
• Partnering with Asset Management on the preparation of the annual strategic plan and budget for review and approval by the Fund’s Board of Trustees,
• Supporting the launch of new Real Estate investment vehicles.

3) Overall responsibility for the accounting and financial operations cycle of development projects and related investment structures, which includes:

• Collaborating with Forum’s development team to monitor Forum-led development projects.
• Ensuring the timely and accurate preparation of compliance reporting and related requirements to external capital providers.
• The “rolling” development of cash flow forecasts, liaising with Forum’s corporate platform for purposes of overall group liquidity forecasting.

Desired Qualifications:

• Minimum of 15 years of experience in progressively senior finance roles, including experience in Real Estate (an asset if includes residential rental properties experience).
• CPA with public accounting experience preferred.
• Working within the US and/or Canadian real estate industry, either at a private or publicly listed REOC, REIT and/or Real Estate development organization,
• Experience with closed and open-ended funds is considered an asset.
• Experience in implementing Yardi/Real Estate ERP systems.
• Previous experience building a Real Estate finance function considered an asset.
• Excellent organization and time management skills, working with multiple stakeholders and managing numerous and changing priorities.
• CFA is considered an asset.
• An exceptional leader with strong analytical and proven problem-solving skills who combines an entrepreneurial mindset with a desire to work in a high volume, dynamic and fast paced environment.
• Demonstrate collaborative, and be goal-oriented professional with a track record of bringing structure to unstructured situations.

Please note that at present, legal eligibility to work in Canada is a prerequisite for this role.

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We appreciate your interest in this role.

In sharing your resume, you place your trust in us to treat you with integrity and respect and act in your best interests. All resumes will be held in the strictest of confidence. Those who most closely meet our client’s requirements will be contacted for an interview.

Please pass this opportunity forward. We welcome all referrals should someone in your network benefit from this opportunity.