Role Impact:The Director, Valuations is responsible for a variety of functions relating to Valuations and Portfolio Benchmarking. This position requires a seasoned professional with knowledge of valuations, accounting, portfolio benchmarking, oversight and management of consultants and advisors. Strong interpersonal skills and the ability to build strong, trusted relationships with external appraisers, our sole shareholder and internal departments are paramount. The role requires exceptional analytical abilities, a strong knowledge of financial modelling and valuation theory together with the ability to identify value add opportunities. A wide network of contacts and information sources is of importance to identify key transactions in a wider range of asset classes and geographic markets.
What you will deliver:Valuations:- Assist in preparing the annual appraisal plan and engaging appraisers; coordination and review of annual appraisals.
- Monitor progress of appraisal work against timelines and regularly report on status.
- Coordinate flow of detailed budget information, rent rolls, sales reports, recoveries, recoverable and non-recoverable capital, leasing transactions from internal sources to external appraisers, auditors and OTPPB.
- Prepare budget analysis and assistance in response to questions from appraisers, auditors, OTPPB and other departments (primarily Investments, Operations and Development).
- Perform valuation modeling and sensitivity analysis in Argus Enterprise (AE) and / or Excel on internal appraisals.
- Research market, gather comparable sales information and analysis and help maintain database of market comparables.
- Focus on high quality retail, office, industrial, multifamily, hotel and land assets in Canada
- Analyze financial parameters related to complex real estate investments through the review/development of detailed valuation models to ensure the most appropriate value recommendations are made.
- Identify areas of opportunity and value-add for the company factoring in potential trends, opportunities and threats.
- Stay current on new industry developments in commercial real estate, retailers, office rents and tenants.
- Establish and maintain a network of relationships with appraisers, partners and peers in Canada Value impact analysis on proposed office and retail leasing transactions.
- Provide insight to various groups into the value implications of certain business decisions ranging from leasing, operations, development and enterprise risk management
- Prepare and review quarterly reports for Board meetings
- Forecast portfolio values for enterprise 3-year operating plan, portfolio management and capital requirements
- Provide insights on asset valuation assumptions and adjustment treatments by exercising sound judgement in reviewing external appraisals, analyzing internal financial information, and responding to inquiries from OTPP and joint venture partners.
Portfolio Benchmarking:- Responsible for quarterly performance data reporting and analysis submissions to MSCI for inclusion in index and validate results produced by MSCI
- Responsible for performance tracking, analysis of assets in comparison to MSCI benchmark and presenting insights to Finance SLT.
- Preparation and presentation of annual portfolio performance and MSCI Index returns to SLT and other groups as needed
What your strengths are:- Strong verbal and written communication, presentation and negotiation skills.
- Ability to interact effectively with a wide range of internal and external people at a variety of levels with the ability to adapt style based on diverse audiences, cultures and constituencies.
- Positive attitude and focus on solutions.
- Aptitude for accounting, finance, valuations.
- Ability to work under pressure and to multi-task.
- Keen observation skills and ability to respond quickly.
- Work as a team member and comfortable with minimal supervision.
- Professional demeanor.
- Strong personal and professional ethical values.
What you need to succeed:- University Degree in Finance, Business or Commerce combined with CFA/CPA accreditation.
- Minimum 10 years' experience in real estate industry related.
- Strong business and financial acumen with exceptional knowledge of real estate valuation models (Argus), financial analysis and market research.
- Understanding of major functional areas: Valuations, Finance and Accounting.
- Computer literate and proficient in the use of: Word, Excel, Power Point, and expert level knowledge of Argus Enterprise (AE).
- Strong organizational, analytical and problem-solving skills.
- Ability to organize time and meet deadlines.
- Personal market presence and existing relationships within the appraisal community.
