Project Accountant

Infrastructure Ontario (IO), an Ontario crown corporation, provides a wide range of services to support the Ontario government’s initiative to modernize and maximize the value of public infrastructure and realty.

IO has been recognized domestically and internationally for the way it does business and the success it has had with its major projects, real estate services, infrastructure lending, commercial projects, and development mandate.

IO delivers some of the most complex, ambitious commercial and land development solutions for the Province and continues to evolve and expand its capabilities to maximize its public impact and deliver on its vision of creating a connected, modern and competitive Ontario.

Reporting to the Manager, Accounting, the Project Accountant is responsible for project analysis, financial analysis, accounting, forecasting, budgeting and financial management of the General Real Estate Portfolio (GREP) Construction Projects.

What you will do :

• Prepare financial reporting and analysis of GREP construction projects for Infrastructure Ontario’s GREP finance group, project managers, client ministries and Provincial central agencies, including :
• Review the project charter and relevant project documentation to identify capitalization requirement based on the capitalization policy.
• Ensure compliance with Project contractual terms and conditions in relation to project setup, billing requirements and costing
• Monthly analysis of the Project’s value of work to budget and cost ensuring reasonability and following up as applicable
• Prepare monthly accounting entries and accruals for expenses and revenue by project
• Review project recoveries for accuracy, completeness, and compliance
• Ensure adherence to professional accounting standards, including capitalization and revenue recognition and accruals
• Participate in collecting the deliverables for project controls audit requirements
• Support the reconciliation and analysis of key balance sheet items and resolution of issues, including WIP, AR, AP and holdbacks
• Prepare reports and variance analysis of constructions projects for the Project Managers, Ministry clients, and financial reports including the quarterly financial statements.
• Prepare monthly reporting on project costs by funding sources, nature and type of project.
• Ensure the integrity of project data in the financial and project management systems.
• Generate reports from accounting and project management systems as required to support financial reporting, analysis, budgeting and forecasting.
• Participate in system analysis and identify opportunities for business improvement.
• Responsible for compliance with documented accounting processes and is actively involved in implementing improvements and revising documentation accordingly

Who we are looking for :

• Experience in project accounting, within relevant areas, including construction / real estate / large-scale property management
• CPA designation or actively pursuing designation is considered an asset
• Detailed knowledge of accounting principles, including Public Sector Accounting Board Standards (PSAB), practices and procedures.
• Knowledge of budgeting processes and financial analysis and management techniques.
• Problem solving skills to troubleshoot accounting and business process issues.
• Strong written and verbal communication skills to prepare and present reports and work with Project Managers and Project Management Service providers.
• Proficiency in Microsoft Office suite of products, including advanced level Excel
• Proficiency in ERP Software, Yardi Voyager or similar and Project Management Software, Kahua or similar

What's in it for you :

• Commitment to creating a diverse, equitable and inclusive culture that promotes a sense of belonging and represents and reflects the needs of the communities we serve.
• A flexible, hybrid work approach that allows colleagues to find balance between their professional and personal lives and making the most of the benefits of working remotely and purpose-driven in-person collaboration opportunities.
• A defined contribution pension plan, where IO contributes the equivalent of 5% of a full-time employee’s annual salary, with an option for IO to match an additional 5% contribution made by the employee.

IO also offers a Group Retirement Savings Plan and Group Tax Free Savings Account, designed to help IO colleagues plan and save for their future.

• A comprehensive package that covers health, dental, vision, out-of-country care, paramedical services, and more.
• A pregnancy and parental leave program that offers expecting, eligible employees a top-up to 95% of their annual base salary for 31 weeks, and our parental leave program offers eligible employees a top-up to 95% of their annual base salary for 15 weeks.
• Access to our $1000 Healthcare Spending Account to top up expenses not covered in the benefits program and a Lifestyle Account that expands the eligibility of health and wellness options and can include coverage for fitness equipment, nutrition counselling or financial planning.
• Support for professional development opportunities for all colleagues through a broad range of learning programs that include in-person and online training, leadership development, and support for colleagues’ well-being.

IO will also cover the costs associated with up to two membership and licence fees per year for eligible colleagues if directly related to the employee’s role.

Access to a suite of virtual healthcare options to support non-urgent medical needs

$62,600 - $93,900 a yearThis posting will close October 25th 2024. Interviews will be conducted on a rolling basis until the position is filled.

The hiring range for this position is $62,600 -$93,900 with a corresponding job level of P2 After reviewing the qualifications listed above, we want you to know that we understand you may not meet all the qualifications described, but still encourage you to apply, as you may have other relevant expertise and experience that you can bring to the role.

At Infrastructure Ontario, we strive to create a culture that encourages a diverse equitable and inclusive environment that fosters belonging.

We believe that experience comes in many forms and through learning from each others’ differences and perspectives gives us strength.

We are committed to enhancing our culture and encourage applications from all walks of life. Let us know if you require any accommodations for the selection process, by contacting the Talent Acquisition Team.

Candidates who are members of Indigenous, Black, racialized and 2SLGBTQ+ communities, persons with disabilities, and other equity deserving groups are encouraged to apply, and their lived experience will be taken into consideration as applicable to the posted position.

By submitting your application you are granting Infrastructure Ontario permission to process your personal data during the recruitment process and for keeping records of the process.

Infrastructure Ontario may share your personal data internally to appropriate persons involved in the recruitment process and to third parties where there is an administrative or lawful basis for doing so.

Provided that Infrastructure Ontario does not have any lawful reason to continue processing your personal data, you may make a formal request to rectify, erase or restrict (the processing of) your personal data.