Vice President Operations

POSITION: Vice President, Operations

DEPARTMENT: Operations

REPORTS TO: Chief Operating Officer

DIRECT REPORTS: Operations Team - Administrators, Facilities and Property Managers

SALARY: $170,000 – $200,000 per year

LOCATION: 100 Sheppard Ave, E., North York

COMPANY BACKGROUND

The Terracap Group of Companies is a private equity real estate group based in Toronto. Our diverse portfolio encompasses over 4 million square feet of real estate across North America. The portfolio includes multi-residential, mixed use, hospitality, retail, and office as well as future development lands. Terracap delivers notable value enhancement through strategic acquisitions / investments, professional property & asset management, development, construction management, leasing and related services. Terracap’s investors represent some of the top-tier business leaders and high net worth families in both Canada and the United States.

OVERVIEW

Reporting to the Chief Operating Officer (COO), the Vice President, Operations will oversee all operations in Canada (British Columbia, Alberta, Saskatchewan, Ontario and Quebec) and the United States (Texas, Florida, Kansas / Missouri). This role provides leadership, direction and support to all operations team members, including Property Administrators, Facility Managers and Property Managers.

This position is based in Toronto at the Company’s head office location.

JOB SUMMARY

The Vice President of Operations will plan, direct, coordinate, and oversee operations activities in the Company, ensuring development and implementation of efficient operations and cost-effective systems to meet current and future needs of the Company, while ensuring that that the objectives of Terracap Management Inc. (Company) relating to tenant and employee relations, revenue enhancement, labour management, property operations, net operating income and financial returns are achieved.

KEY RESPONSIBILITIES

• Assist in the establishment and achievement of the Company’s short-term and long-term objectives to maximize financial returns.
• Implement and communicate the strategic direction of the Company's operations division.
• Collaborate with executive leadership to develop and meet company goals while supplying expertise and guidance on operations projects and systems.
• Identify, recommend, and implement new processes, technologies, and systems to improve and streamline organizational processes and use of resources and materials.
• Ensure that departmental decisions and project plans such as those for staffing, development, organization, material efficiency, hardware acquisitions, and facilities are in line with the Company's vision.
• Establish, communicate, and implement operations-related policies, practices, standards, and security measures to ensure effective and consistent support and execution.
• Review and approve cost-control reports, cost estimates, and staffing requirements for projects.
• Implement and oversee tracking plans for the operating and capital budget preparation, including presentations and monitoring.
• Present periodic performance reports and metrics to the COO and other leadership.
• Maintain knowledge of emerging technologies and trends in operations management.
• Perform other related duties as assigned.

Executive Team Participation:

• Participate in bi-weekly executive team meetings, draft agendas prior to the meeting in collaboration with the COO, chair the meeting and take notes for future reference.
• Participate in all investor meetings, reviewing agendas and meeting notes prior to distribution.
• Collaborate on creative projects, including but not limited to website content and other marketing initiatives.
• Head office space management including maintenance required, floor plan reorganization, seating configuration, policies and protocols.

Portfolio Responsibilities:

• Asset management meeting organization and oversight for meetings held once a month to discuss portfolio, currently structured as three meetings held on the 2nd, 3rd and 4th Mondays of each month to include operations, executive and any other pertinent department.
• Manage property operations to achieve budgeted financial results.
• Review property results on a monthly and quarterly basis and provide analysis as required.
• Ensure rents and other receivables from tenants are collected in accordance with lease terms.
• Assist with budgeting and year-end recoveries.
• Cost management of operating expenses.
• Develop and maintain building procedures and supervise building operations.
• Assist with the leasing and marketing of vacant spaces.
• Assist with the implementation of new programs, and ensuring policies and procedures are followed.
• Conduct property inspections.
• Ensure high levels of tenant satisfaction through development of strong tenant relationships.
• Manage litigation process for any actions underway and initiate litigation as required on tenant files.
• Oversee all Insurance needs and manage process of renewals, claims.
• Lead all efforts for Realty Tax Appeals, monitor success and manage relationship with consultant.

Supervisory Responsibilities:

• Supervision, management, motivation and coaching of employees.
• Perform ongoing assessments and management of performance of subordinates and seek and implement opportunities for their development and advancement.
• Recruit, interview, hire, and train management-level staff in the department.
• Identify training needs and ensure proper training is developed and provided.
• Oversee the daily workflow of the department.
• Provide constructive and timely performance evaluations.
• Handle discipline and termination of employees in accordance with company policy.

Human Resource Responsibilities:

• Assist other departments with human resource tasks.
• Review and approval of payroll, commission calculations, bonuses and other related compensation tasks.
• Review and approval of benefit premium billings and oversight of benefit plan.
• Organization of performance evaluations, collection and consolidation of information.

QUALIFICATIONS

• Bachelor's degree in an industry-related field considered an asset.
• Minimum of ten (10) years of experience in multi-site management in the retail, commercial office, and / or multi-unit housing industry.
• Minimum of five (5) years of experience in Commercial/Retail Property Management.
• Three (3) years of experience or more in upper management considered an asset.
• Ability to apply critical thinking to a variety of situations, to determine objectives and develop, implement and monitor effective plans for improvement.
• Extensive knowledge of the principles, procedures, and best practices in the industry.
• Working knowledge and experience in financial accounting in commercial real estate, financial reporting, and budgeting.
• Ability to apply logic and reasoning to effectively manage projects, analyze complex financial, legal and contractual problems and to provide solutions or recommendations.
• Proven ability to identify, evaluate and develop new ideas with supportable results.
• Effective negotiation skills to influence and impact at all levels – senior management, peers, direct and indirect reports.
• Sound analytical and problem-solving skills.
• Ability to identify risk, thereby mitigating liability.
• Superior verbal and written communication skills.
• Effective interpersonal and conflict resolution skills.
• Strong supervisory and leadership skills.
• Excellent time management, organizational and follow-up skills.
• Superior attention to detail.
• Proficient with Microsoft Office Suite (Word, Excel, PowerPoint), Yardi, Worldox or related software.
• Ability and willingness to travel.

NOTE:

The above information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. This is not an all-inclusive job description; therefore, management has the right to assign or reassign schedules, duties and responsibilities to this job at any time.

CONTACT US

If you are looking for an outstanding challenge and an opportunity to work with an exceptional Team, and you believe you fully meet or exceed the qualifications outlined above, then we want to hear from you.

Please provide a copy of your current resume as well as a covering letter explaining why you should be considered as a serious candidate for this position. Submissions must be received by May 12, 2024. We thank all applicants for their interest but only those selected for an interview will be contacted. Initial meetings related to the recruitment process for this position will be conducted virtually and final round will be conducted in person.