POSITION: Vice President, Operations
DEPARTMENT: Operations
DIRECT REPORTS: Operations Team - Property Administrators, Facility Managers and Property Managers
OVERVIEW
Reporting to the Chief Operating Officer (COO), the Vice President, Operations will oversee the Company’s operations across British Columbia, Alberta, Saskatchewan, Ontario and Quebec. 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.
JOB SUMMARY
The Vice President, Operations will plan, direct, coordinate and oversee the Company’s operational activities, ensuring the development and implementation of efficient operations and cost-effective systems to meet the current and future needs of the Company.
This is a senior leadership role with responsibility for operational performance across a multi-province real estate portfolio, with a strong focus on financial results, tenant relations, team leadership and continuous improvement.
The role will support Terracap Management Inc.’s objectives relating to tenant and employee relations, revenue enhancement, labour management, property operations, net operating income and financial returns.
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 providing expertise and guidance on operational projects and systems.
- Identify, recommend and implement new processes, technologies and systems to improve and streamline organizational processes and the use of resources and materials.
- Ensure that departmental decisions and project plans, including those related to staffing, development, organization, material efficiency, hardware acquisitions and facilities, are aligned 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 operating and capital budget preparation, including presentations and ongoing monitoring.
- Present periodic performance reports and metrics to the COO and other members of leadership.
- Maintain knowledge of emerging technologies and trends in operations management.
- Perform other related duties as assigned.
EXECUTIVE TEAM PARTICIPATION
- Participate in 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.
- Oversee head office space management, including required maintenance, floor plan reorganization, seating configuration, policies and protocols.
PORTFOLIO RESPONSIBILITIES
- Organize and oversee monthly asset management meetings to review portfolio performance with Operations, Executive and other relevant departments.
- 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.
- Authorize the distribution of default notices and guide further collection efforts beyond the default notice stage.
- Assist with budgeting and year-end recoveries, review tenant requests for additional information and ensure inquiries are within the parameters of each lease.
- Manage operating expenses and cost-control initiatives.
- Develop and maintain building procedures and supervise building operations.
- Assist with the leasing and marketing of vacant space.
- Assist with the leasing process by reviewing standard lease clause modifications requested by tenants, particularly those relating to insurance and operating cost recovery terms.
- Review recovery model calculations to ensure slippage in cost recoveries is minimized while remaining competitive in the leasing market.
- Assist with the implementation of new programs and ensure policies and procedures are followed.
- Conduct property inspections.
- Ensure high levels of tenant satisfaction through the development of strong tenant relationships.
- Manage the litigation process for actions underway and initiate litigation as required on tenant files.
- Oversee all insurance requirements and manage the process of renewals and claims.
- Lead all efforts relating to realty tax appeals, monitor outcomes and manage relationships with consultants.
SUPERVISORY RESPONSIBILITIES
- Supervise, manage, motivate and coach employees.
- Conduct ongoing assessments and manage the performance of direct reports, identifying and implementing opportunities for development and advancement.
- Recruit, interview, hire and train management-level staff within the department.
- Identify training needs and ensure appropriate training is developed and provided.
- Oversee the daily workflow of the department.
- Provide constructive and timely performance evaluations.
- Manage employee discipline and termination in accordance with Company policy.
HUMAN RESOURCES RESPONSIBILITIES
- Assist other departments with human resources-related tasks.
- Review and approve payroll, commission calculations, bonuses and other compensation-related items.
- Review and approve benefit premium billings and oversee the benefits plan.
- Coordinate performance evaluations, including the 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 within the retail, commercial office and/or multi-unit housing industries.
- Minimum of five (5) years of experience in commercial and/or retail property management.
- Three (3) or more years of upper-management experience considered an asset.
- Ability to apply critical thinking to a variety of situations, determine objectives, and develop, implement and monitor effective plans for improvement.
- Extensive knowledge of industry principles, procedures and best practices.
- Working knowledge and experience in financial accounting within commercial real estate, including financial reporting and budgeting.
- Ability to apply logic and reasoning to effectively manage projects, analyze complex financial, legal and contractual issues, and provide solutions or recommendations.
- Proven ability to identify, evaluate and develop new ideas with supportable results.
- Effective negotiation skills with the ability to influence and engage at all levels, including senior management, peers, and direct and indirect reports.
- Sound analytical and problem-solving skills.
- Ability to identify risk and implement appropriate measures to mitigate 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.
- Proficiency with Microsoft Office Suite, including Word, Excel and PowerPoint, as well as Yardi, Worldox or related software.
- Ability and willingness to travel.
NOTE
This job description is intended to describe the general nature and level of work performed in this role and is not an exhaustive list of all duties and responsibilities. Responsibilities may evolve based on business needs.
