What are the responsibilities and job description for the Director, Accounting (Single Family Rental Communities) position at Tricon Residential?
Tricon Residential is an owner, operator and developer of single-family rental homes in the U.S. and multi-family apartments in Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy. We provide high-quality rental housing options for families across the United States and Canada through our technology-enabled operating platform and dedicated on-the-ground operating teams. Our development programs are also delivering thousands of new rental homes and apartments as part of our commitment to help solve the housing supply shortage. At Tricon, we imagine a world where housing unlocks life's potential.
We strive to be North America's premier rental housing company. Our business philosophy involves taking care of our team first - empowering them to provide our residents with exceptional service and to positively impact the local communities where we operate. By providing an enhanced living experience, our residents rent for longer periods of time, treat our properties like their own, and share their experience with friends and family. This is how we continue to grow, and it is an approach that has proven to generate positive returns for our stakeholders.
For more information, visitTricon Residential.
Job Description
The Director, Accounting (Single Family Rental Communities) will assist with the oversight of the day-to-day development and/or operations of the Single Family Rental Communities Accounting group. Additionally, the position will collaborate across all levels and different functions to the organization to address key performance improvement opportunities specifically in the areas of accounting and financial reporting. The duties of this position will play a critical role in supporting growth through collaborating with cross-functional teams, demonstrating strong financial acumen, effective communication skills, and the ability to adapt in a dynamic environment.- Manage a team of 5-8 team members to manage all accounting aspects of approximately 35 Single Family Rental Communities.
- Direct teams to prepare accurate and timely monthly, quarterly, and year-end financials.
- Collaborate with Asset Management, Operations and IT teams to design efficient accounting processes across AP, AR, Property Accounting and Reporting functions.
- Coordinate with Fund Accounting and Investment team to prepare financial statements to joint venture partners in a monthly basis.
- Coordinate with Investments and Operations on an ad hoc basis to support new acquisitions. Ensure various accounting and systems set up are performed on time to assist operations, accounting and reporting post-acquisition.
- Oversee new development builds and the onboarding process into financial systems
- Detailed-oriented for month-to-month reviews, actual versus budget variance analysis in a community by community basis.
- Manage development funding requests with the Funds team, general contractors, developmental partners, and lenders to ensure smooth financial operations.
- Review development costs upon the delivery of homes to ensure accurate financial reporting and project cost tracking.
- Support management with special research projects and presentations, as required
- Assist with system and process improvements to enhance financial reporting and accounting efficiency
- Develop and maintain standard operating procedures and training documentation
- Review journal entries, including prepaid amortization, other direct expenses, reclassifications, and monthly accruals
- Review monthly balance sheet reconciliations, bank account reconciliations, and schedules for proper amortization, accruals, and true ups
- Oversee Treasury on a day-to-day basis, ensuring that reserve accounts are funded, developmental bank accounts have received fundings, operational accounts are in good standing, and transfers are completed timely and correctly
- Review monthly construction costs to ensure alignment with project budgets
- Oversee fixed asset process including depreciation, asset type categories, capitalized soft costs, and resolve any variances
- Assist with audit requests, including general audit inquiries, preparation of schedules/reports, testing of internal controls, and audits conducted in conjunction with developmental partners
Qualifications:
- Detailed oriented, ability to work in a fast-paced, dynamic environment with strict reporting deadline
- Having a sense of urgency doing what needs to be done immediately, without being asked and in the most thorough way possible
- Excellent business acumen and communication skills required
- Exceptional research, analytical, and critical thinking skills
- Strong attention to detail and well organized
- Dependable and highly motivated with a strong work ethic
- Strong written and verbal communications skills required
- Strong research, analytical, and problem-solving skills
- Willingness to learn
Minimum Requirements:
- Thorough knowledge of generally accepted accounting principles
- CPA designation is required
- Big 4 Accounting firms experience is preferred
- 10 years property management/real estate experience
- Bachelor's Degree in Accounting or Finance
- Knowledge of Yardi would be a plus
- Advanced knowledge of Excel; proficient in other Microsoft Office programs
At Tricon, we are committed to creating a workplace where every individual is valued for their unique contributions, experiences, voices, and backgrounds. By embracing these principles, we aim to positively impact our business and the communities we serve, creating a lasting legacy where everyone can thrive.
Salary Range
Placement within this compensation range will be determined by the candidate's knowledge, experience and skills.
