Job Responsibility:

ABOUT ELM DEVELOPMENTS

Do you believe that a company's success depends on its people? Do you want to support a development pipeline of 2,000+ purpose built rental units and 1,000+ homes? If so, ELM is the place for you! ELM is nothing without the people who build, design, and support it. We are currently looking for a Financial Analyst (Development Accounting) to join and continue professionalizing our scaling organization.

Our legacy is in construction and value engineering. We are boots on the ground, doing whatever it takes, whenever it's required, to get the job done. Our team supports three business lines: construction and project management services, property ownership, and real estate development. Financial management is critical to each and especially important to managing risk within a growing real estate development portfolio.

ELM's reputation is for going deep on every single line item. We are detail obsessed. Looking ahead, we have much more to accomplish for our clients, communities, and investment partners. We are looking for a culturally aligned individual to join our dynamic team in Vaughan, ON.

FINANCIAL ANALYST ROLE

Reporting to the Director, Development Accounting, the Financial Analyst will support the investments team with financial analysis, monthly budgeting, development reporting, investor relations, lender reporting, and other tasks as required. This role requires strong analytical and organizational skills, attention to detail, and excellent communication skills to effectively collaborate with other members of the bookkeeping and project management teams. The focus of this role will be on ELM Group's portfolio of Development Projects.

This role is essential for ensuring the company's financial success and supporting the company's growth and profitability by providing support to the Development and Investments team.

KEY RESPONSIBILITIES - DEVELOPMENT ACCOUNTING

- Ensuring underlying GL and accounting records are accurate and up-to date; from time to time enter invoices for proper cost coding and cut-off
- Record routine journal entries for capital contributions/distributions, loan drawdown/repayment, depreciation, retained earnings allocations, and bank & interest
- Annual financial statement preparation & submission of year-end files to external accountants; address queries from accountants and record adjusting journal entries
- Preparation of monthly construction draw, including co-ordination with cost consultant,



and confirmation of funding receipt to ensure timely payment of invoices
- Other ad hoc items as required

KEY RESPONSIBILITIES - DEVELOPMENT & INVESTOR REPORTING

- Review project managers' monthly budgets/actuals and communicate any issues to project manager (e.g., negative CTC, budget PO & contracts, contingency tracking etc.)
- Assist project managers in preparing cash flow forecasts for development projects to determine monthly funding requirements
- Prepare and review monthly internal development reporting (e.g., trial balance, WIP schedule, etc.) and periodic master reporting (e.g., LCs, Equity, Loans, Guarantees)
- Assist Director, Development Accounting in preparing monthly project proforma (e.g., forecasts for interest risk analysis, financing costs, and other soft costs)
- Draft quarterly investor reports, including editing updates from project managers, financial statements, and appendices such as development cost schedules
- Prepare and issue capital/cash calls using our investment management platform according to monthly project cash flow forecasts; monitor receipt of funds and follow up on outstanding amounts
- Track investor contributions and distributions, and update records in investor platform
- Maintaining investor relations; update database and contact lists in investor platform, and respond to any investor inquiries
- Co-ordinate periodic lender reporting deadlines and ensure timely submissions
- Other ad hoc items as required

QUALIFICATIONS:

- Bachelor's degree in accounting, business administration, finance, or a related field
- Minimum 2 years of experience in real estate accounting and/or finance, with minimum 1 year in the development and construction sector
- Solid interest in the real estate development and construction industry to understand project state and day-to-day transactions
- Strong analytical skills and ability to prepare institutional-quality reporting for internal and external stakeholders
- Excellent follow-up, communication and interpersonal skills, with the ability to work collaboratively with diverse teams and stakeholders




- Detail-oriented, able to manage multiple tasks and deadlines in a fast-paced environment, curious and motivated to self-improve
- Demonstrated proficiency in Microsoft Office suite (Excel, Word, Outlook)
- Proficiency in construction accounting software such as Jonas Premier, QuickBooks Enterprise Contractor or Yardi is an asset

STAFF SUPPORT

At ELM, we strive to provide our team members with the best possible support. Here is an overview of the current perks we offer:

- Ongoing learning and development opportunities to help build the career you want and hit the goals you set, while ensuring you're reaching your fullest potential
- Two weeks of vacation in addition to public holidays
- A unique opportunity to build, grow and leave your impact on the historically significant and fast-growing industry of creating places to live, work and play
- To find your place within a small team of quality professionals passionate about improving, supporting each other and our partners, and caring about our customers
- Company events including bi-weekly Lunch & Learns, and Summer/Winter celebrations.

APPLYING TO ELM

If you are a results-driven, self-motivated individual who thrives in a collaborative and fast-paced environment, we invite you to join our team. You will have the opportunity to make a meaningful difference, while working in an inclusive and supportive environment.

Thank you to all the applicants who have shown interest in this position. We appreciate the time and effort you have taken to apply.

We look forward to carefully reviewing every application we receive, however only the candidates who are being considered for further evaluation will be contacted.

ELM Development is an equal opportunity employer and encourages all qualified candidates to apply. In accordance with the Accessibility for Ontarians with Disabilities Act (AODA), we are committed to providing accommodations for people with disabilities to support their participation in all aspects of the recruitment and selection process.

Job Types: Full time, Permanent

Pay: From $70,000.00 per year

Benefits:

- Dental care
- Extended health care
- Life insurance
- Paid time off
- Vision care

Education:

- Bachelor's Degree (required)

Experience:

- real estate development: 1 year (preferred)
- Financial Planning and Analysis: 2 years (preferred)

Work Location: In person

Expected start date: 2024-11-01

📌 Financial Analyst (Development Accounting) (Concord)
🏢 ELM Developments
📍 Concord