HOOPP Healthcare of Ontario Pension Plan Analyst, Real Estate Contract in Toronto, ON

HOOPP Healthcare of Ontario Pension Plan

Branch Toronto ON CA

Analyst, Real Estate
Toronto, ON

The portfolio largely consists of direct investments in real properties, but also includes indirect investments in real estate through limited partnership…

HOOPP’s core values – professional, accountable, collaborative, compassionate and trustworthy – guide its every interaction with HOOPP members and employees. As one of Canada’s largest and most respected multi-employer pension plans, HOOPP invests the net assets of its $63.9 billion Fund, administers the Plan and pays approximately $1.9 billion in pension benefits per year. With over 309,000 members and pensioners, and more than 490 participating employers, HOOPP’s mission to deliver on the pension promise remains strong.

To remain one of the leading pension plans in Canada, we must continually challenge ourselves to improve our product, services and investment performance. HOOPP offers a professional environment designed to bring out the best in its employees. The organization’s size and structure bring decision-making, accountability and ownership to the individual employee level. HOOPP employees are flexible and adaptable to work in cross-divisional teams in a fast-paced, rewarding environment.HOOPP is an equal opportunity employer. We recruit and select applicants for employment solely on the basis of their qualifications. Should you require accommodation because of a disability during the recruitment and selection process, please contact Human Resources. Our HR team will consult with you so that arrangements can be made for reasonable accommodation.

HOOPP’s Real Estate portfolio has a net value of over $4.5 billion. The portfolio largely consists of direct investments in real properties, but also includes indirect investments in real estate through limited partnership vehicles. The investments are located across North America and Europe, which gives rise to varied reporting standards and foreign exchange considerations.

The Analyst, Real Estate is tasked with maintaining the MRI database, and performing property and portfolio level accounting, administration and reporting for HOOPP’s real estate assets. The Associate is also expected to carry out necessary analysis and research to ensure accounting treatment is appropriate. Furthermore, the incumbent is responsible for ongoing monitoring of external property manager activities.

Duties and Responsibilities

Process the monthly collection and input of electronic data into the real estate administration system (i.e. MRI) through HOOPP’s web-based Real Estate Data Portal. Identify and resolve data integrity/quality issues with external managers. Also, work in conjunction with HOOPP’s IT department to resolve any external manager issues with submission of data through the Portal, and setting up new managers on the Portal.

  • Prepare and input cash entries in MRI and ensure supporting documentation is available and complete. Reconcile cash entries to SCD report provided by Treasury group on a monthly basis. Prepare and input other journal entries as needed.
  • Calculate and prepare journal entry to record mark to market adjustment on debt and imputed interest on development costs on an annual basis.
  • Monitor properties under development and ensure progress payments are accompanied by appropriate supporting documents. Track progress of developments and determine when a particular property should be transferred to on-stream based on HOOPP’s accounting policies. Provide development summary reports to Investment Management on a monthly basis.
  • Track receipt of financial statements from limited partnership investments and follow up on any outstanding. Calculate and journalize unrealized gain or loss on investments based on these statements.
  • Run and analyze Equity Roll on a monthly basis to ensure any discrepancies are cleared on a timely basis. The Equity Roll reconciles the cash activity between HOOPP and the various property investments, and as such is a key control for the Real Estate investment finance group. Clearing of discrepancies involves analysis of equity movements at the Corporate and property level, identification of differences, and coordination with external managers to resolve those differences.
  • Run and submit financial and occupancy reports to Investment Management.
  • Respond to queries from Investment Management and provide materials and analysis as requested. Also, maintain close contact with front office to keep abreast of significant transactions or events.
  • Review investment activity on a monthly basis to ensure real estate portfolio is in compliance with HOOPP’s Investment Policies & Guidelines, the Pension Benefit Act and the Income Tax Act. The resulting compliance report is relied on by the Senior Director, Real Estate to report to the Investment Reporting and Risk Monitoring group.
  • Perform regular mapping of MRI balances to ensure agreement with property manager books and coordinate with external managers to ensure any entries originating at HOOPP level are recorded in property books.
  • Prepare income tax returns for HOOPP real estate subsidiary companies, and ensure returns prepared by external asset managers are prepared and filed by established deadlines.
  • Review external manager bank reconciliations on a quarterly basis to ensure tie in to general ledger and bank statement, and that any reconciling items are cleared on a regular and timely basis.
  • File HST returns as necessary. Reconcile HST accounts for multiple properties to CRA records. Resolve HST issues raised by external managers.
  • Assist in external audit process. Prepare working papers and supporting documentation, and respond to queries from auditors.
  • Assist with the on-going development and maintenance of reports in the MRI system to ensure report set up is up-to-date and add value to Investment Management. Also, initiate development of new reports that will improve department efficiencies.

Qualifications and Skills:

University degree in Business, Finance or related discipline

  • Qualified accountant (CA, CMA, CGA), or working toward designation would be an asset
  • At least 5 years experience in real estate operations including property and investment accounting
  • Experience in real estate accounting preferably gained through property or asset management is a requirement
  • Experience in use of MRI software would be an asset
  • Knowledge of real estate operations, accounting policies and procedures
  • Strong analytical and problem solving skills
  • Attention to detail, accuracy, and completeness is extremely important along with the ability to handle multiple tasks efficiently
  • Excellent interpersonal skills to facilitate interaction with Investment Management staff and external property managers
  • Ability to respond to queries on numerous topics effectively and promptly
  • Ability to meet tight deadlines and to manage conflicting priorities
  • Proactive self-starter who is highly motivated and results-oriented
  • Ability to work independently with minimal direction
  • Strong MS Office skills
  • Solid knowledge of real estate administration systems

Job Type: Contract

Job Location:

  • Toronto, ON

Required education:

  • Bachelor’s

Required experience:

  • MRI software: 1 year
  • Real estate operation accounting: 5 years
  • Property or Asset management: 1 year

Required licenses or certifications:

  • CMA
  • CA
  • CGA

or proceed with Standard Application Form.

Employment Type: Freelance
Location: Toronto, ON, CA
Posted on: 2016-12-05
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