Job Details
Vice President Finance, Real Estate

About This Position

Vice President Finance, Real Estate

Overview of Forum

Founded in 1996, Forum is a purpose-driven Alternative Asset Manager, Investor and Developer across North America, with a focus on real estate and private equity. Forum works with its partners to achieve aggressive growth through innovation and consistent performance as a top-tier alternative asset investor. Forum oversees approximately C$1.6 billion enterprise value in assets under management and has transacted over $3B of investments since inception.

We pursue value-added and opportunistic investments, often with an element of recurring or contracted revenue that facilitate optimal capital structuring. We see these opportunities in sectors including real estate, building services, alternative energy, infrastructure and specialty finance – and we’re constantly looking for new and interesting market niches in which to invest.

Forum is an entrepreneurial team working together towards a common goal of achieving Extraordinary OutcomesTM.  Our core strengths are our agility, creativity and social responsibility. We encourage our employees to grow by empowering them with challenging work and abundant opportunity. We have a culture that emphasizes collaboration, open communication, continuous learning, humility and integrity. We are committed to building a diverse and inclusive team that reflects the values of our firm – impact, integrity, diversity, innovation and high performance.

Forum’s real estate business is going through a transformational phase with a new Partner and team in place to take on a growing number of ground up development and adaptive reuse projects across Canada, with a target of $300-$400M in annual pipeline.

The firm is raising its first real estate fund focused on core-plus stabilized assets in the multi-family sector.  Forum’s Fund Gross Asset Value is expected to be over $2Bby year 5.   The fund will hold Forum’s pipeline of development assets once stabilized and will also acquire existing multi-family assets throughout Canada, with a focus on impact and ESG.

 

Position Overview

Forum is seeking a Vice President Finance, Real Estate (collectively “VP Finance”) to play a critical role within Forum’s growing real estate platform. The VP Finance will grow/lead Forum’s real estate finance group and be directly responsible for all financial aspects of Forum’s real estate investments directly and through the Fund.  The VP Finance’s initial responsibilities will include designing and establishing a high performing finance team within Forum’s real estate platform – leveraging capabilities from Forum’s corporate platform and outsourced service providers.

The VP Finance, Real Estate will report to the Partner, Real Estate, with a dotted line accountability to Forum’s CFO.

The successful candidate will have demonstrable experience setting up a lean finance team within a broader organization, with an appreciation for how to set-up scalable business processes, leveraging technology to support a growing real estate business.

The Candidate’s scope of responsibilities will be broad, both in respect of the financial administration of real estate projects developed by Forum (“Development Assets”) and financial matters related to the Fund.

How to Apply

Should your skills and experience match the requirements of this position, and you wish to engage in our recruiting process, please forward your resume and cover letter to recruiting@forumequitypartners.com 

We regret that only qualified candidates will be contacted.

Key Duties and Responsibilities

Development Assets

  • Overall responsibility of the accounting and financial operations cycle of development projects and related investment structures, working closely at the outset with an outsourced development accounting service provider, with the intention to eventually in-source the capability,
  • Collaborate with Forum’s internal development team to ensure a rigorous process to monitor Forum-led development projects, including staying apprised of project status, including financing, progress / timing against key milestones and monitoring risks as part of monthly and quarterly reporting packages to internal stakeholders,
  • Ensure the timely and accurate preparation of compliance reporting and related requirements to external capital providers,
  • Review “rolling” development cash flow forecasts, liaising with Forum’s corporate platform for purposes of overall group liquidity forecasting.

 

Fund

  • Oversee the financial and treasury aspects for a growing portfolio of stabilized residential assets (including traditional multi-family, purpose-built student housing and co-living product)
    • Working closely with the VP Asset Management to report on and measure the financial and operating performance of each investment property, where all are 3rd party property managed,
  • Ensure accurate and timely investor reporting, including the calculation of fees and carried interest for each investor class, with reports distributed through the Fund’s 3rd party administrator to investors,
  • Lead the implementation of financial tools, focused on consolidation / reporting for purposes of producing recurring Fund-level financial and operating reports,
  • Ensure an appropriate cash management and forecasting framework, including cash visibility / positioning for the Fund to ensure payment of monthly distributions and backstop liquidity to manage potential investor redemptions,
  • Produce monthly and quarterly financial reports, in accordance with IFRS (IAS 40) Investment property) and on a proportionate basis for the Fund,
  • Oversee the Fund’s annual audit process,
  • Ensure compliance with all lender reporting requirements,
  • Support investor relations efforts, attending to Fund investor queries and assisting with on-going capital raising efforts,
  • Co-ordinate the preparation of all financial related matters, including the annual strategic plan and budget for review and approval by the Fund’s Board of Trustees.

It is expected that the successful candidate will be collaborative, goal-oriented professional with a track record of bringing structure to unstructured situations.

Candidate Profile

  • Minimum of 10 years of experience in progressively senior finance roles, including experience in real estate (preferably in residential rental properties)
  • University Degree in Real Estate, Business Commerce, Business Administration or a related field required
  • CPA with public accounting experience required
  • Working in the US and/or Canadian real estate industry, either at a private or publicly listed REOC, REIT and/or real estate development organization,
  • Experience implementing Yardi or other real estate ERP systems.
  • Exceptional leadership skills, work ethic, professionalism and integrity
  • Highly collaborative and self-motivated
  • Superior communication skills, both written and verbal
  • Excellent organization and time management skills
  • Exceptional attention to detail and accuracy
  • Excels in a high volume, dynamic and fast paced environment and enjoys new challenges.
  • Strong analytical skills and proven problem-solving skills
  • Entrepreneurial mindset combined with desire to be successful in a team culture
  • Ability to work with multiple stakeholders and manage numerous and changing priorities
  • Ability to travel within North America

When to Start

Start: Immediately