Job title: Senior Analyst, Real Estate Valuation and Performance Measurement
Job description: HOOPP is one of the Canada’s leading institutional real estate investment owners, developers, and fund investors. HOOPP’s current real estate portfolio consists of over $13.6 billion and over 40 million square feet of direct owned assets across all major asset classes (office, retail, industrial & multi-residential), located throughout Canada, Europe and the United States in addition to a large portfolio of assets that are currently in various stages of the development process. The portfolio largely consists of direct investments in real properties, but also includes indirect investments in real estate through limited partnership vehicles.
The Senior Analyst’s primary responsibility is to execute on HOOPP’s real estate valuation policy. The successful candidate will work collaboratively with HOOPP’s wide network of external partners (valuation, asset management, property management, co-owners/fund partners) to complete the semi-annual external valuation process. Furthermore, the Senior Analyst is responsible for the accurate measurement and reporting of HOOPP’s real estate performance, a key performance indicator that is relied upon by many various internal and external stakeholders. The breadth and depth of this role positions the successful candidate as an integral and trusted contributor and subject matter expert internally for colleagues from other teams, as well as the main point of contact for HOOPP’s external auditors.
Roles and Responsibilities
Real Estate Valuation:
- Assist the Manager in carrying out the full cycle appraisal process, from appraiser bid/engage to valuation review and approval. Work collaboratively and effectively with various external (appraiser, asset manager, property manager, etc.) and internal partners to complete the appraisal process in a diligent and timely manner.
- Manage the appraisal review process. This includes a technical review in which information in the reports/AE models are reconciled with property budgets and rent rolls. Also, evaluate the reasonability of the underlying market assumptions and investments metrics applied in the valuation. Liaise directly with the appraisers/asset managers to communicate concerns and address issues.
- Prepare various schedules and memos for valuation reporting to senior management. Work with interdepartmental colleagues to leverage BI tools to create, improve and maintain reporting schedules.
- Liaise with Investment Management to stay current on changes to HOOPP’s real estate portfolio (acquisitions and dispositions) and asset modification plans (redevelopment, intensification and other planned major capital expenditures).
- Keep abreast of industry/market trends and market activity through ongoing research. Demonstrate critical thinking through applying such research against external appraisal to validate reasonability of valuation inputs/assumptions and results.
- Act as the primary point of contact for Real Estate valuations in support of HOOPP’s external audit process. Collate supporting documentation, prepare working papers and respond to queries from auditors.
- Support the Investment Management department and respond to enquiries in a timely and professional manner.
Real Estate Performance Measurement:
- Generate and analyze monthly performance returns report to ensure returns are reasonable and investigate any anomalies.
- Coordinate with Real Estate Accounting to ensure the appropriate accounting treatment of capital expenditures, income and valuations.
- Manage the MSCI submission (real estate benchmark). Respond to any MSCI queries regarding the submission. Review resulting MSCI return and ensure it corresponds with the data submitted. Compare MSCI return to HOOPP’s internal return calculation and analyze and explain any differences.
- Solid knowledge of real estate valuation methodology applicable to a global portfolio. Strong research skills and an interest in continuous learning and improvement.
- Strong analytical capabilities and ability to understand and resolve problems independently or with minimal guidance
- Attention to detail, accuracy, and completeness is extremely important. Equally, the ability to manage multiple competing priorities under time constraint is a requirement.
- Excellent interpersonal skills to facilitate interaction with various internal groups and external service providers. Comfortable dealing with people of varying levels of seniority. Ability to navigate potentially challenging conversations between parties with opposing views.
- Proactive self-starter who is highly motivated and results-oriented
- Strong MS Office skills and highly proficient in Argus Enterprise software
- Exemplify HOOPP’s core values of Professionalism, Trustworthiness, Compassion, Accountability and Collaboration
- University degree in Business, Finance or related discipline.
- Accredited commercial appraiser (AACI).
- Valuation specialist with a minimum of 7 years’ experience
Notice for job applicants
Following the advice of Canadian health authorities, to mitigate the risk of potential spread of COVID-19 and support social distancing, all recruiting activities including interviews and new hire onboarding will be conducted online. While we are doing our best to ensure reasonable response times, please expect some delays during the recruiting process due to the current situation. Thank you for your patience and understanding during these challenging times.
Established in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is a multi-employer defined benefit pension plan for Ontario’s hospital and community-based healthcare sector. We serve more than 381,000 members who provide valued healthcare services at more than 590 employers across the province. At HOOPP, we exist to provide a stable and reliable pension for our members that starts in retirement and is paid for life. As one of Canada’s largest and most respected pension plans, HOOPP’s net assets reached $94.1 billion at the end of 2019 and our funded status remained strong and stable at 119%.
HOOPP’s core values – professional, accountable, collaborative, compassionate and trustworthy – guide our every interaction with our members, employers and employees. We’ve become one of Canada’s leading pension plans by consistently challenging ourselves and embracing innovation.
From our unique investment management approach to our innovative technology and thought-provoking research, we constantly seek to push the boundaries, and we do this by hiring passionate, forward-thinking people.
Our high-performance culture is founded on collaboration, respect and belonging. HOOPP is an equal opportunity employer and we’re proud of our diversity. We select applicants for employment solely on the basis of their qualifications. Should you require accommodation because of a disability during the recruitment and selection process, please contact our Human Resources team. We will be happy to consult with you so that arrangements can be made for reasonable accommodation.
Location: Toronto, ON
Job date: Thu, 17 Sep 2020 22:30:14 GMT