Director, Development Finance
The Director Development Finance will lead the establishment of the team with the goal to streamline and enhance efficiencies focused on budgeting, forecasting, management reporting, advisory and decision support services specific to our Development Business for all asset types (Office, Retails, Purpose Build Rental, Condo Residential, Industrial, Infrastructure). This role is also responsible to lead the business decision support function on the Development Finance team as business partner to the Development team. Additionally, the role will focus on enhancing and leveraging technology to drive efficiencies and to help building and scale the development finance platform including the production of various development and financial project status reporting Key Performance Indicators (KPIs), and dashboards for management and executive stakeholders. This role will support the Development business to ensure the development practices and procedures align to broader Cadillac Fairview (CF) financial standards and controls, for the development projects managed by CF and managed by the Joint Venture (JV) part on behalf of CF.
What you will deliver: Lead the preparation of the Development Quarterly Executive Summary report for the Board by partnering with Development business partners Continuous partnering with cross-functional finance and business partners to critically evaluate assumptions, risk, and opportunities within the planning/budgeting process for the 3 Year and 10 Year, and the annual development fees plan, monitor and report the outlook and variance to plan, and oversee the collection of the development fees Oversee the ongoing maintenance and refinement of the annual planning process as well as the project reporting deliverables within the Development business unit Lead the preparation of the Development Annual Planning Process for the 3 Year and 10 Year, liaising with Accounting, Reporting and Planning, Capital Markets, and the Sustainability Operations team Lead the preparation of analysis and material for regular and ad hoc projects and presentations for Development related materials for the Audit committee materials, Monthly Board Flash, Monthly Board Development Capital Allocation & Funding Commitment, Monthly Cash Flow Projections, MD&A, Quarterly and Yearly Cost to Complete analysis Review and provide feedback to the development business, finance, tax, legal teams on the new development projects’ long-form legal agreements (purchase and sale agreements, partnership agreements, development management, etc.) Responsible to oversee compliance with Development Management Agreements for development projects working closely with the business partners Lead the performance of in-depth analysis, provide sound financial advice and recommendations to business partners, monitor the performance of projects metrics, and provide action steps as needed Leverage analytics to produce insights and drive business performance, work with the various business functions (i.e., Development Officers, Project Management, Architecture & Design, Analytics) to create meaningful KPIs, to support the business decision process and implement regular reporting Maintain an understanding of industry trends, key business / cost drivers, various KPI’s for different type of assets, accounting policies etc. Collaboratively prepare and deliver presentations for senior leadership teams as needed Analyze the current development business processes and proactively identify efficiency opportunities and lead the implementation through close collaboration and alignment/buy-in of business stakeholders ((i.e., Development Officers, Project Management, Architecture & Design, Analytics) and working closely with Internal Audit to ensure alignment with CF policies Leverage technology to produce various financial reports for development project analytics, recommend and test changes to financial reports ensuring they remain current and meaningful Oversee the continuation of the roll out of the Automation program and Vendor Café by coordinating with Development Business Unit, the Finance Transformation Office, Financial Services and Controls to achieve efficiencies Lead and be the contact person on behalf of the Development Business unit in supporting CF Data Governance Program through the collaboration with the Financial Services and Controls team Lead the development and implementation of process and procedure improvement projects within Development Finance ensuring alignment with the overall CF’s Finance Transformation activities Oversee the Development Finance Manager Financial Reporting who perform legal entity reporting through collaboration and alignment with the Operations Finance, ARP and Tax teams as required to ensure compliance with the CF policies, compliance requirement and regulatory reporting Involvement in special projects, including transaction support, onboarding of new investments and partnerships and other initiative, as required Through the provision of regular feedback in the form of status meetings, objective setting sessions, performance appraisals, coaching and counseling, and formal presentations: Manages and reviews the activities of direct reports to ensure the timely and accurate completion of reports in accordance with deadlines, Provides regular evaluation of staff development needs with respect to technical requirements of their functions, Manages the expectations of stakeholders to ensure requests are dealt with effectively and efficiently. What your strengths are: Excellent interpersonal and communication skills, including the ability to translate technical subject-matter into easy-to-understand non-technical terms (and vice-versa Ability to collaborate, consult and build strong internal and external relationships Ability to negotiate and influence business decisions Strong analytical and organizational skills Focused on process optimization and driving efficiency through the implementation of technology, Exceptional attention to detail and ability to produce high quality reports, Ability to work under pressure, embrace change and work with minimal supervision and to interact at all organizational levels. What you need to succeed: University degree in Business combined with CPA or equivalent accreditation, Minimum 8-10 years of progressive experience in business / financial planning in Commercial Real Estate with relevant experience in financial planning and analysis and reporting, Minimum 3-5 years supervisory experience of people and projects related to Real Estate/Property Development, Experience working in development finance or development business function an asset Fully literate with real estate accounting policies and procedures, Working knowledge of IFRS, Fully computer literate including Microsoft Office applications, and with advanced Excel skills, Knowledge of Yardi Voyager a strong asset.
Why you should join us: At Cadillac Fairview we have been transforming communities for over 50 years. We are so much more than our properties. We are building leaders at all levels. We offer the challenge of interesting work, a great organizational culture, the opportunity to collaborate with the best in the business, and support for your growth and development.
We reward values-based behavior and superior results with a competitive rewards package that includes best-in-class benefits and pension. Imagine a place where you can make a difference At CF our everyday actions and critical business decisions are guided by our CF Values. Achieving results is naturally important for us and we achieve results through behaviours that are consistent with our CF Values. Are you someone who believes in our values?.
Aim Higher – we strive to exceed expectations Own Your Expertise – we empower ourselves and each other Collaborate Effectively – we bring the right people together to get the right results Engage with Empathy – we objectively consider the needs of others Embrace Change – we drive, learn from, and adapt to change At CF you’ll join a diverse community and award-winning team where your talent and commitment to excellence are welcomed, valued and respected. We’re ready to meet you there – are you?. CF is an equal opportunity employer and is committed to creating a diverse and inclusive environment. If you need reasonable accommodation during the recruitment, assessment, and/or selection process, please notify your CF contact or email cfcareerscadillacfairview.com.
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