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…