Development Property Finance Manager

Development Property Finance Manager - Property Development (Places for London)

Salary: £80,000 - £85,000 per annum, plus benefits

Location: Victoria, London / Remote Working

Contract Type: Permanent TfL

About Us
Welcome to Places for London, TfL's property company, where your career can make a meaningful impact on the landscape of a global city. As an integral part of the London community, we are building more than 20,000 new and sustainable homes, 50% of which will be affordable over the next 10 years across the capital.

We are one of London's largest landlords, providing flexible and accessible workspaces for 1,500 customers, over 90 per cent of which are small businesses. Increasingly, Places for London is recognised as a public sector body that the private sector can do business with and that is evidenced by quality of our JV partners.

As the Development Property Finance Manager, you will report directly into the Head of Finance for Places for London and your responsibilities extend far beyond routine tasks. You will be responsible for business partnering with the development teams and the JV partners, through whom we do all our development in Places for London.

Our mission is about crafting environments that inspire and connect people. From residential developments that redefine modern living to commercial spaces that drive economic vitality, we are at the forefront of urban development and reimagining what is possible. We prioritise innovation, sustainability and community engagement whilst fostering a collaborative and inclusive work environment.

Overview of role
In this leadership role you will be responsible for the finances of the property development division. The role will involve financial analysis, challenge, management accounting and reporting. This will include joint venture property accounting, through the application of appropriate levels of due diligence, governance, and assurance.

You will work with business stakeholders and external partners, to drive the right financial outcomes for Places for London. You will possess excellent stakeholder management skills and have previous experience providing technical accounting advice on the structuring of new joint venture partnerships to ensure all financing or reporting risks are identified.

You will also need to be adaptable to carry out a range of financial activities across multiple developments that will be at different stages within the property development life cycle. You will be articulate, and able to represent the interests of Places for London with internal and external stakeholders.

At Places for London, you will recognise the value of your team members in driving our success. You will be dedicated to providing a supportive and empowering workplace where creativity flourishes, ideas thrive and careers flourish. Your commitment to professional development and growth will ensure that your team members have the tools and opportunities to excel in their roles.

Key Accountabilities

1. Leading the property development finance team (circa 6 people). Drive positive behaviours by developing a responsive and adaptable team to support property finance.
2. Lead the implementation of new processes and systems as well as continuous reporting improvements.
3. Manage the management accounting cycle, including period-end, year end and audit queries in relation to property development schemes.
4. Responsible for the provision of a complete financial business partnering service to senior management and departments in relation to Property Development.
5. Responsible for the timely and technically accurate recording of financial transactions, and performance information; including forecasts, plans and budgets.
6. Represent TfL in Finance Committee meetings within the operated ventures, challenging performance and conducting due diligence on forecasts, budgets, and plans.
7. Manage flows of financial information between Places for London and our Joint Venture partners; and lead on the provision of any financial queries received by Places for London in relation to Property Partnership activity.
8. Provide technical accounting and advice on the structuring of new joint venture partnerships to ensure all financing or reporting risks are identified. Lead on ensuring they are appropriately addressed before contracts are signed.
9. Maintain financial records and review statutory accounts of JV.
10. Work closely with the Investment Analysis team to support investment appraisals and provide assurance around model inputs.
11. Support wider Development team with ad hoc reporting and information requests.

Skills, Knowledge & Experience
Skills

• Stakeholder Management (Expert).
• Variance and Financial / Budgetary Analysis (Expert).
• Forecasting (Expert).
• Systems and Software (Experience).
• Cost Accounting (Experience).
• Business Case Analysis, Development and Assurance (Expert).
• Risk and Control (Expert).
• Professional Accounting principles and standards (Experience).
• Management reporting, external reporting, and ad hoc communication (Expert).
• Commercial acumen (Expert).
• Technical Accounting (Expert).

Knowledge

• Qualified accountant, preferably CIMA, ACCA or ACA.
• Financing, accounting, VAT and governance frameworks and processes for property development including financing.
• Extensive commercial property development knowledge e.g., from working for a commercial property developer.
• Strong property accounting or asset accounting knowledge, including key property and industry KPIs.
• Understanding of how to account for joint venture arrangements, including equity accounting consolidation rules.
• Demonstrable knowledge of the types of systems used in property reporting and analysis e.g., SAP or Oracle.
• Knowledge of financial activity needed to support property-specific activities throughout the property development life cycle.
• General management accounting covering aspects such as forecasting, reporting, variance analysis and planning.

Experience

• Leadership experience and developing and motivating team.
• Experience in managing finances across a large commercial property portfolio with multiple developments.
• Extensive management accounting experience covering all aspects, such as forecasting, reporting, variance analysis, planning and ad hoc activities.
• Experience of working in roles that demonstrate competence in property development finance, where there was responsibility for reporting, budgeting, and forecasting for multiple property developments, at different stages of the life cycle.
• Must have experience of working on joint ventures, including joint venture modelling, accounting, and statutory requirements.

Equality, Diversity and Inclusion
We are committed to equality, diversity and inclusion. We want to represent the city we serve, which will help us become a more innovative and efficient organisation. Our goal is to make our recruitment as inclusive as possible. We are a disability confident employer who guarantee an interview to any disabled candidate who meets all of the essential criteria. We also use anonymising software that removes identifying information from CVs and cover letters to make the process fair.

Application Process
How To Apply
Please submit an up-to-date copy of your CV along with a cover letter (no more than 2 A4 pages Arial size 12), in a PDF format.

We recommend that you consider the motivations, skills, knowledge and experience required for this role and ensure your application outlines where you meet these criteria.

Closing date for applications will be Thursday 21st November at 23:59hrs.

Hybrid Working
Hybrid working within this role enables a balance of 50 per cent of time split between the office and home over a 4-week period. Hybrid working arrangements can evolve subject to business requirements.

Benefits
In return for your commitment and expertise, you will enjoy excellent benefits and scope to grow. Rewards vary according to the business area but mostly include:

• Final salary pension scheme
• Free travel for you on the TfL network
• Reimbursement of 75% of the cost of a standard class Ticket for National Rail travel from home or 75% reimbursement on a 28-day flexi ticket
• 30 days annual leave plus public and bank holidays
• TfL is committed to work-life balance, operating a hybrid working approach where business and role requirements allow.
• Private healthcare discounted scheme (optional)
• Tax-efficient cycle-to-work programme
• Retail, health, leisure and travel offers
• Discounted Eurostar travel