Client Snapshot
Industry
Property Management (Residential & Commercial)
Location
Ontario, Canada
Engagement Type
Interim Controller Transition & Multi-Entity Accounting Oversight
Portfolio Structure
Multiple Related Entities (Management Companies & Partnerships)
Key Highlights
Impact Area
Controller Transition & Financial Governance
Transition Timeline
Assumed Responsibilities Within One Week
Reporting Continuity
Zero Missed Monthly Reporting Deadline
Process Improvement
Structured Close, Reconciliations & Accountability Framework
Operational Outcome
Expanded Engagement with Dedicated OHI Resource
Client Background
Based in Ontario, Canada, the client is a property management group overseeing a growing portfolio of residential and commercial assets across multiple related entities, including management companies and partnerships. As the portfolio expanded, the accounting environment became increasingly complex, requiring stronger financial oversight, standardized processes, and disciplined reporting governance.
The engagement was triggered when the controller announced retirement with only one week’s notice, creating immediate operational risk. To maintain uninterrupted oversight, support leadership decision-making, and ensure entity-level compliance, OHI stepped in to assume controller responsibilities with minimal transition time and limited institutional knowledge transfer.
Business Challenge
As a multi-entity management company, precision, coordination, and timeliness were critical. The priority was clear: rapid operational control, real-time stabilization, and on-time monthly reporting with disciplined accounting—the transition posed significant operational and governance risks
Knowledge Transfer
Only 2–3 days of knowledge transfer were available before the outgoing controller’s departure
Close Structure
No structured month-end close calendar or documented deadlines
Reconciliation Gaps
Incomplete bank reconciliations and inconsistent review practices.
Process Documentation
Absence of documented workflows or standardized operating procedures.
Team Accountability
Limited accountability structure within the accounting team.
Forecasting Stability
Budgeting and cash flow forecasting required immediate stabilization.
OHI's Approach & Solution
Immediate Transition & Team Alignment
- Conducted rapid stakeholder meetings with each accountant to understand roles, responsibilities, and workflow dependencies
- Identified process gaps, role overlaps, and areas lacking accountability
- Assumed interim controller responsibilities with clear ownership and oversight
Structured Financial Governance Framework
- Implemented defined accounts payable cutoff dates and monthly close deadlines
- Established structured bank reconciliation schedules with assigned ownership and tracking mechanisms
- Developed standardized reconciliation templates and accountability trackers
- Introduced formal book review protocols prior to reporting finalization
Daily Coordination & Oversight
- Instituted daily operational touchpoints with the accounting team to review priorities and remove bottlenecks
- Enforced workflow discipline through structured tracking and follow-ups
- Created visibility into outstanding items and close progress
Leadership Communication & Financial Planning
- Established weekly one-on-one governance meetings with ownership to review progress and align on priorities
- Delivered improved budgeting support and structured cash flow projections
- Strengthened financial transparency to support decision-making
Results & Impact
| KPI | Before OHI | After OHI | Improvement |
|---|---|---|---|
| Controller Continuity | High Risk (Retirement in 1 Week) | Seamless Transition | Stabilized Governance |
| Monthly Reporting | Unstructured & Risk of Delay | On-Time Reporting | Zero Missed Deadlines |
| Bank Reconciliations | Incomplete & Inconsistent | Standardized & Scheduled | Full Control |
| Process Documentation | No Formal SOPs | Structured Framework Implemented | Improved Accountability |
| Budgeting & Cash Flow | Limited Visibility | Structured Forecasting | Enhanced Financial Clarity |
Through rapid stabilization and structured governance, OHI ensured a seamless controller transition despite limited handover time. The engagement restored financial control, standardized multi-entity accounting, and enhanced cash flow visibility and reporting efficiency.
“OHI has played a key role in stabilizing our financial operations. Their structured approach, attention to detail, and consistent delivery have significantly improved our month-end process.”
Ontario-Based Property Management Group
Owner
Protecting portfolio value through leadership and control continuity
Seamless transitions with disciplined financial oversight.
