Senior Manager, Real Estate Accounting
Toronto, ON, Canada
The Senior Manager, Real Estate Accounting works closely with the Real Estate, Format Development, Commercial Finance, GBS and SmartCentre Realty Inc. (third party) JV teams.
The position is responsible for the identification, accounting and reporting of all real estate and non-real estate leases at Walmart Canada, oversee the Joint Venture (JV) accounting and consolidation process, the accounting and governance of the Capital Project process, Real Estate forecasting, review of account reconciliations and entries, and variance analysis of Real Estate P&L and balance sheet accounts.
What you'll do...
1. Manages the accounting and reporting of real estate and non-real estate leases to ensure compliance with ASC 842 new lease standard. Work closely with the Real Estate, Business Partners and GBS Lease Accounting Centre (LAC) teams to maintain current state and improve current processes to identify and record leases on a timely basis and provide guidance on lease accounting impacts to forecasting and annual budgeting.
2. Manages Real Estate (including JV) and Format Development accounting operations by working closely with US Global Controllership Office to research emerging trends and standards of external governing bodies; utilizing knowledge of US GAAP and internal controls over financial reporting to perform financial statement analysis and accounting; identifying, correcting, and reporting discrepancies in financial statements and accounting transactions to ensure compliance with government reporting requirements and statutory filing procedures; and collaborating with external stakeholders (i.e. SmartCentres) to review and validate financial documentation.
3. Ensures reporting compliance by developing, communicating, and ensuring consistent application of Walmart policies, rules, and regulations; reviewing, evaluating, and interpreting internal financial statements and supporting documentation for compliance with accounting and reporting regulations and ensuring compliance with Sarbanes-Oxley Act.
4. Oversee Real Estate and Format Development financial reports, balance sheet accounts, and financial audits for each assigned business area by analyzing financial data; comparing data to third-party information, budgets, or actual results; researching and reviewing research of balance sheet account variances; discussing business impacts to the profit and loss within US GAAP and accounting standards; ensuring internal and external audits are managed for timelines and accuracy; and facilitating the relationship between team, internal customers, and external specialists.
5. Partner with Smart centers and Real Estate team to prepare the JV Capex and Opex Budgets and Forecasts (3YP, AOP, Monthly forecasts) and manage all audit/control related inquiries. Lead analysis and approval process for all JV related activities including funding requests, earnouts, parcel/center sales, valuations and loan receivables.
6. Supports and drives the execution of global and local continuous process improvement and efficiency plans, company strategic objectives and projects by identifying customer and operational needs; developing and communicating business plans and priorities; removing barriers and obstacles that impact performance; identifying performance standards; measuring progress and adjusting performance accordingly; developing contingency plans; and demonstrating adaptability and supporting continuous learning.
7. Promotes and supports company policies, procedures, mission, values, and standards of ethics and integrity by training and providing direction to others in their use and application; ensuring compliance with them; and utilizing and supporting the Open Door Policy.
8. Ensures business partner needs are being met by evaluating the ongoing effectiveness of current processes, programs, and initiatives; consulting with business partners, managers, co-workers, or other key stakeholders; and soliciting, evaluating, and applying suggestions for improving efficiency and cost effectiveness.
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