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Manulife Real Estate is the global real estate arm of Manulife Financial Corporation with fully integrated in-house capabilities and 70 years of experience as an active investor, owner, developer and asset manager of commercial real estate. Diversified by both geography and asset type, the portfolio consists primarily of prime office and industrial properties, as well as select retail and multi-family residential properties, in key metropolitan centers throughout Canada, Asia and in the United States through Manulife's U.S. division, John Hancock. In addition to equity real estate, Manulife Real Estate manages the space requirements and own use facilities for Manulife’s operations around the world.
Real Estate Regional Offices across North America are responsible for all real estate activities within their respective portfolio including leasing, property management, financial reporting and day-to-day operations. The role reports directly to the Managing Director at each Regional Office and are accountable for the accurate and timely coordination of all administrative and accounting functions including annual budgeting and quarterly reforecasting.
The Property Administration Manager is typically only present in offices that require the performance of complex accounting functions which need indepth accounting knowledge. Complexity in the role may be due to the number and type of properties in the portfolio (third party, own-use, investment) and hence each type of property has its own accounting and reporting requirements. The incumbent is responsible for overseeing the preparation of accurate and timely monthly, quarterly, and annual financial reporting required by business partners and Real Estate Head Office Finance and Administration.
The Property Administration Manager is the Office Manager responsible for the effective administration of the regional office. The incumbent oversees the activities of the regional office’s financial and administrative staff and acts as a liaison with Real Estate Head Office. Currently this role has accountability for 8 properties totaling 2.2 million square feet across all real estate asset classes.
- Liaise with Real Estate Head Office on all accounting transactions, lease administration activity and financial reporting to ensure that the required information is entered into CTI, the financial system, on a timely basis. Review and analyze financial statements for each property, for accuracy and ensure that they are completed on a timely basis.
- Provide guidance to staff on accounting processes and communicate information required to produce timely and accurate financial reporting. Review, analyze and resolve any financial accounting issues that may arise in conjunction with Real Estate Head Office accounting staff.
- On a monthly basis, prepare the property reporting package for joint venture partners. This includes cash flow statements, operating statements with variance analysis, capital expenditure reports and bank reconciliation. Ensure data is accurate, complete and timely and is presented in a professional format.
- Lead the preparation of the Property Management annual operating plan, quarterly and/or monthly forecasts and variance analyses for submission to Head Office. Review all quarterly and budget reports for accuracy, consistency and compliance. Adhere to and reinforce established SOX policies.
- Conduct required credit reviews of prospective leasing transactions. Maintain and monitor letter of credit information on all existing tenants and take appropriate action to notify management of material deterioration of credits. Assist regional office staff on leasing transactions and insurance matters as required.
- Assist property management and planning staff with capital and expense projects. Review and analyze accuracy of cost control project submittals, appropriation memos and required documentation to Real Estate Head Office. Ensure accurate set up of project jobs in CTI along with monthly spend processing against commitments and budget, status monitoring, asset additions and reporting to Real Estate Head Office. Review, analyze and resolve any financial accounting issues that may arise in conjunction with projects.
- Manage all realty tax issues including coordinating all information, assessments, appeals and communication with consultants. Be the main point of contact for the realty tax consultants, lawyers, assessors and the City Tax Department.
- Liaise with real estate consultants for the annual appraisal process for all owned buildings and organize the required financial data, rent rolls and capital plans.
- Lead and manage accounting, administrative and reception staff for the Regional Real Estate Office. Perform all staffing functions including hiring, training, motivating, performance assessment and development.
- Process new hire documentation for the real estate regional office. Assist Managing Director in the annual compensation review cycle. Manage day-to-day Human Resources issues. Maintain Regional Office staff count and update organizational charts for submission to Real Estate Head Office.
- Act as point of contact for technology implementations, repairs and service and hardware/software requirements. Train staff on financial applications used within Real Estate and assist Real Estate Systems in troubleshooting and correcting problems encountered by staff at the regional office.
- Review, recommend, and implement improvements to established procedures and processes to increase operational efficiency.
- Conduct the annual policy and procedure audits for each property management office on an annual basis. HO conducts its own review to ensure that checks and balances are in place and that policies and procedures are being followed. Coordinate the annual operating costs audits with external auditors, these audits form part of the year end recovery billing that is forwarded to tenants.
- Act as Office Manager for the real estate office, prepare and manage the performance-to-plan budget.
- Post secondary degree or diploma required.
- Accounting designation – CPA required.
- Minimum 7 years of progressive experience in accounting, preferably in the Real Estate industry, minimum 2 years’ management experience.
- Strong knowledge of Real Estate accounting and administration concepts.
- Excellent influencing and communication skills.
- Effective customer service and interpersonal skills.
- Ability to work as a team player and to develop strong working relationships.
- Strong organizational, time management and priority setting skills in order to meet tight deadlines.
- Excellent computer and spreadsheet skills.
- Sound analytical and problem solving skills.
This Position Description is intended to describe the general nature and level of the work being performed by employees in this job. It is not intended to be a complete list of all responsibilities, duties and skills required for this job classification.
About John Hancock Financial and Manulife
John Hancock is a division of Manulife Financial Corporation, a leading international financial services
group that helps people achieve their dreams and aspirations by putting customers’ needs first and
providing the right advice and solutions. We operate primarily as John Hancock in the United States, and
Manulife elsewhere. We provide financial advice, insurance and wealth and asset management
solutions for individuals, groups and institutions. Assets under management and administration byManulife and its subsidiaries were over $1.04 trillion (US$829.4 billion) as of December 31, 2017. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports approximately 10.7 million
Americans with a broad range of financial products, including life insurance, annuities, investments,
401(k) plans, and college savings plans. We also offer advice through Signator, a network of independent
financial advisors. Additional information about John Hancock may be found at johnhancock.com.
Agency submissions and contacts are by invitation only and must be initiated by John Hancock's Recruiting Department only. Unsolicited agency submissions will not be honored.
JOHN HANCOCK IS AN EQUAL OPPORTUNITY EMPLOYER - AA/F/M/D/V
Property & Resources Mgmt