President – Maclab Properties Group
Maclab Properties Group (“MPG”) and related entities own a rental property portfolio consisting of forty residential multi-family, commercial and retail projects. The properties are located in Edmonton, Calgary, Red Deer, Vancouver and Yellowknife.
MPG’s rental property holdings are managed by its Midwest Property Management (“MWPM”) division. MWPM has become an industry leader by following its mission of ensuring the long term viability of the properties and by focusing on “Where Community Lives”, MWPM is committed to providing the best value and quality in rental accommodation for all residents.
Additionally, the company owns one hotel which is managed by Coast Hotels & Resorts (“CH&R”). Currently CH&R manages the day to day operations of the hotel with regular oversight by MPG management and the assistance of a third-party asset manager.
MWPM also provides property management services for a portfolio of residential, retail, commercial and hotel properties owned by a former partner in Maclab Enterprises.
MPG’s corporate division provides accounting, taxation and corporate financial reporting functions supporting the operations of Gold Bar Investments Ltd. and related companies and has elements of a family office for the family of the controlling shareholder.
MPG and its associated companies also invest in a variety of real estate (primarily New York and California) and non-real estate projects throughout North America.
As an experienced, stable, and diversified company with considerable respect in the community, MPG plans to continue to pursue acquisition and development opportunities throughout Alberta and British Columbia, primarily in Edmonton, Calgary and Vancouver.
For further information on the operations of MWPM Property Management, please visit their website at: www.rentmidwest.com.
Job Title: President
Reports to: Board of Directors – Maclab Properties Group
Direct Reports (4):
- Senior Vice President, Midwest Property Management
- Vice President, Finance
- Director, Development & Construction
- Financial Analyst (to be hired)
Indirect Reports: 175
Location: Edmonton, Alberta
Maclab Properties Group (“MPG”) is looking for a President to lead the organization.
Based at the company’s Edmonton headquarters, the role of President of MPG is a senior executive leadership position reporting to the Board of Directors (“Board”) of MPG. The dynamic and experienced leader will lead and shape the culture of the organization into the future.
The successful candidate will be responsible for all areas relating to the operations and financial performance of the organization. Full profit and loss responsibility; overseeing the activities of the property management, hospitality and corporate divisions; oversight of the financial reporting, accounting, taxation and budgeting functions for the organization; as well as mentoring, coaching and supervising staff are all key parts of the job. The organization is assessing its allocation of resources and is actively reviewing key components of its asset base to ensure that the assets are generating an appropriate return and providing sufficient growth prospects. This role will play an essential role in the assessment by advising the Board on investments, acquisitions, new developments and divestitures.
The President will need to develop and maintain an open and trusting relationship with the Board and strong communication with the family shareholders.
Strong business and leadership skills, as well as strong acumen in financial planning, administration and business development will be integral to the candidate’s success.
The company plays a significant role in both the Edmonton and Alberta community. The successful candidate will be expected to have a visible presence in the community through participation on not-for-profit boards and/or real estate industry or business-related organizations.
The position will include the following responsibilities:
Strategy and Leadership Development:
- Support a safe, collaborative and respectful culture and working environment;
- View and solve challenges creatively and strategically;
- Ensure the organization’s focus on the values of integrity, commitment to service, and hiring exceptional people;
- Possess a long-term perspective on the business with a focus on stable growth;
- Develop creative, effective and competitive business plans to meet corporate objectives;
- Coach, train and motivate direct reports; and
- Promote and expand a culture of top quality and customer service.
Financial and Operational Leadership:
- Assume responsibility for business results for the organization as a whole;
- Execute proactive decision making to ensure the long-term financial health and accountability of the company;
- Provide active support and direction to the MWPM and Hotel leadership teams regarding operations and approval of significant capital expenditures;
- Propose investment opportunities to the Board with complete and clear support for recommendations;
- Work with the Board to assess the current asset base and identify opportunities to acquire and/or divest assets to refresh and grow the asset base;
- Review and approve all significant contracts and real estate leases and intervene in negotiations as necessary;
- Engage lenders, financial partners and other stakeholders to direct financings, acquisitions and dispositions of real estate assets; the use of brokers is encouraged but the company prides itself on building and maintaining long-term relationships so direct connections with stakeholders are considered important;
- Ensure clean financial statement audits, accurate tax filings, focused budget management and optimal financial and legal arrangements, including control procedures, and produce timely financial and management reporting;
- Oversee taxation and budgeting processes;
- Take responsibility for risk management and mitigation including an active role, along with the Senior Vice President MWPM, in all insurance programs; and
- Oversee, review and analyze operations through financial statements and monthly reporting packages.
Relationship with the Board of Directors:
- Maintain a strong and open relationship with the Board Chair and other Directors;
- Ensure integration between corporate and family goals;
- In collaboration with the Board Chair, set reporting structure, framework and timing of regular Board meetings; and
- Provide timely, accurate and complete information to the Board to enable it to discharge its duties and obligations.
FIRST YEAR DELIVERABLES / MEASURES OF SUCCESS
Success in the first year will be determined by the President’s ability to:
- Build and maintain an open and trusting relationship with the Board;
- Build and maintain an open and supportive relationship with the leadership team;
- Fully comprehend and understand the Gold Bar companies’ assets and operations;
- Build an understanding of the shareholdings of all Gold Bar related companies;
- Build an understanding of the respective estate plans for Gold Bar shareholders;
- Evaluate and present growth opportunities with a focus on projects which will allow the company to efficiently manage its utilization of human and financial resources; and
- Identify and act on business operational changes required to effectively and efficiently deal with the current economic environment.
Success in the second year will be determined by the President’s ability to:
- Fully comprehend and understand the shareholdings of all Gold Bar related companies;
- Fully understand the respective estate plans for Gold Bar shareholders;
- Build and improve upon the company’s cultural norms and business practices; and
- Continue to identify and act on business operational changes required to effectively and efficiently deal with the current economic environment.
The successful candidate will have the following:
- Minimum of a Bachelor’s degree, preferably in accounting, finance or law, and an ease and facility with numbers/financial statements; and
- A Chartered Professional Accountant (CPA) certification, Master’s degree in Business Administration or a law degree is an asset.
- A minimum of eight years’ experience in a senior management role;
- Proven record of leading, coaching and motivating a team of senior professionals with an engaging and inclusive management style either in the role of a divisional leader or C-suite responsibilities;
- Customer facing, relationship-based business;
- Transactions such as corporate acquisitions, real estate acquisitions and dispositions, involvement with mergers and acquisitions;
- An understanding of real estate property management and rental properties, is an asset;
- Experience reporting to a Board of Directors;
- Canadian financial accounting reporting; and
- Canadian and/or US corporate tax knowledge.
Competencies and Attributes:
- Impeccable sense of integrity, character and personal values;
- A high Emotional Intelligence (EQ) and personal comfort with the role and professional career path;
- A solid understanding of leadership in an understated and respectful manner, a willingness to both be engaged in the details of the business and to coach and mentor reports, both direct and otherwise, as well as an understanding the importance of these connections;
- Superior interpersonal and communications skills, both written and verbal; the successful candidate listens well, respects diverse opinions and has an open communication style with all stakeholders, both internal or external;
- Proven experience with assessing investment opportunities, transactions and capital allocations such as acquisitions and development projects from both a financial and organizational perspective;
- An understanding of the real estate and property management industries; the successful candidate does not need to have managed a property, but a preference will be given to the candidate who has real estate experience;
- A good understanding of legal contracts and other legal documents; the position has access to expert outside legal counsel in this area, however one of the corporate values is that everything is read and understood in house;
- Strong financial acumen; an excellent understanding of financial benchmarks and analysis; budgeting; marketing; and customer service practices;
- Strength in reading and understanding corporate financial statements; the position has access to professional accounting staff, however the successful candidate needs to know what to look for and what to ask for, in a financial statement;
- Ability to understand complex corporate taxation issues; again, the position has access to highly qualified legal taxation advisors, however the successful candidate will be able to grasp new and complex issues and chart a course accordingly;
- The ability to multi-task and remain connected to the day to day operations while maintaining focus on the overall corporate objectives and priorities; and
- The ability to operate in and contribute to a constructive Board/President relationship that is respectful, open to challenge and healthy debate which results in shared commitment and mutual accountability for follow through that achieves optimal results.
An excellent compensation package awaits the successful candidate.
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