Director of Finance
Position Summary:
Reporting directly to the COO and to the Chair of the Finance and Audit Committee, the Director of Finance is responsible for the financial well-being of the organization and all it’s affiliated entities. As such, the Director of Finance is responsible for developing budgets to meet short- and long-term plans; developing forecasts and strategies for effective financial management of the organization; coordinating the budget process and ensuring departments have access to accurate, reliable and timely information for financial decision making; monitoring and control of expenditures; and providing guidance to senior staff to enhance financial decision-making throughout the organization. In addition, the Director of Finance is responsible for monitoring investments with regular on-going reporting.
The Director of Finance oversees a variety of functions which include, but are not limited to: day-to-day accounting procedures and processes; preparation of payroll, accounts receivable and payable; preparation of annual budgets and forecasts; preparation and analysis of monthly financial statements; preparation of government returns; tax compliance; oversight of the annual audit; board and governance-work related to by-laws; and, strategic oversight and management of the organization’s IT needs.
Travel Requirements: None
Essential Duties & Responsibilities
Strategy
• Partner with the Executive Team on all operational and strategic issues as they arise; provide strategic recommendations on financial analysis and projections, cost identification and allocation, and revenue/expense analysis.
• Participate in the ongoing strategic planning process.
• Oversee long-term budgetary planning and cost management in alignment with organization’s strategic plan.
• Engage the board finance committee around issues, trends, and changes in the operating model and operational delivery
• Develop financial and tax strategies
Financial and Operational Management
• Oversee budgeting, and the implementation of budgets, so as to monitor progress and present operational metrics both internally and externally.
• Ensure that finance staff maintains financial record systems in accordance with Generally Accepted Accounting Principles, and monitor the use of all funds.
• Oversee the preparation and approval of all financial reporting materials and metrics for funding organizations and organization’s board of directors; prepare and communicate monthly and annual financial statements.
• Serve as a liaison with government funders.
• Manage cash flow and forecasting.
• Coordinate all audit activities.
• Ensure that the financial records are in compliance with regulatory requirements and accounting and financial practices.
• Participate in corporate policy development as a member of the senior management team.
Risk Mitigation
• Understand and anticipate financial risks and ensure risk mitigation strategies and internal controls are in place to safeguard the organization
• Monitor all open legal issues involving the organization and mitigate respective risks
Day-to-Day Accounting
• Develop and maintain timely and accurate financial statements.
• Upgrade and maintain accounting software system as required.
• Implement and ensure compliance with internal financial and accounting policies and procedures.
• Prepare all supporting information for the annual audit and liaise with external auditors as necessary.
• Document and maintain complete and accurate supporting information for all financial transactions.
• Review monthly results and implement variance reporting versus budget & monitor cash flow.
• Oversee the bookkeeping function including maintenance of the general ledger, accounts payable and accounts receivable.
• Fulfillment of all Canada Revenue Agency obligations.
• Liaise with the Treasurer, Finance Committee and/or Audit Committee as appropriate.
• Provide the COO and the Treasurer with financial reporting as required
including at Board Meetings and Annual General Meetings.
• Monitor all legislation relevant to the organization (employment standards, occupation health and safety, human rights etc.).
Payroll and Benefits
• Oversee payroll functions to ensure employees are paid in a timely and accurate manner.
• Negotiate and manage employee group benefits plan.
• In conjunction with the COO, oversee contract signing and provide input on compensation structure for all new hires.
Other duties as required
Position Requirements
Education Required: A minimum of a Bachelor degree and a CPA
Education Preferred MBA
Experience Required: 10-12 years of diverse finance experience in strategy and management at a senior level, making actionable recommendations to senior leadership
Experience Preferred: Experience managing finance (accounting, budgeting, control, and reporting) for a complex nonprofit with multiple funding sources including government, federal, provincial, and municipal
Specialized or Technical Knowledge Licenses, Certifications needed:
• Mature and proactive, with experience working as a business partner to the chief executive officer.
• Demonstrated excellence in managing finance, accounting, budgeting, and reporting.
• Experience working with government funders and familiarity with compliance issues.
• Skill in examining, developing, reengineering, and recommending financial policies and procedures.
• Strong analytical skills and experience interpreting a strategic vision into an operational model.
• A collaborative and flexible style, with a strong service mentality. Needs to be seen as a team player who is committed to lifelong learning.
• A hands-on manager with integrity and a desire to work in a dynamic, mission-driven environment.
• An effective communicator, with strong oral and written skills.
• Strong commitment to developing team members.
• Demonstrated commitment and passion for the organization’s mission is essential.
To apply, please submit your cover letter and resume to [email protected]
