Financial Analyst, Finance

Law Society of Ontario - Toronto, ON (30+ days ago)

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OVERVIEW

JOB PURPOSE

The Financial Analyst provides technical expertise and analytical support to the Law Society and affiliated organizations regarding financial policy development and management accounting best practices. This includes analysis and recommendations regarding budget development and monitoring, cash flow, financial reporting requirements, operational reporting requirements and the financial advisability of operational decisions, short to medium term investment and treasury function, and research and reports / presentations with respect to financial policy positions. The Financial Analyst plays a central role in implementing this expertise and support such as drafting budgets, reconciling ledger and project accounts and analyzing financial results. The Financial Analyst also fulfills internal control roles such as reconciliations, analysis and journal entries to ensure the completeness and accuracy of information and adherence to the Law Society’s financial reporting policies.

QUALIFICATIONS REQUIRED:
A university undergraduate degree in business or commerce, plus completion of a recognized designation (CPA/CA/CGA/CMA/CFA etc.), or equivalent.
3 to 7 years' previous related experience, ideally in a not-for-profit environment, including responsibility for financial analysis, budget preparation, research and report development and presentation supporting a volunteer Board and Committees.
Solid grounding in management accounting functions, including budget analysis, cost / benefit analysis, financial management decisions.
Solid grasp of principles and best practices in the development of original research and recommendations.
Familiarity with general accounting functions, including accounts payable and accounts receivable.
Familiarity with the fundamentals of the Harmonized Sales Tax.
Speaks and writes in an articulate, persuasive manner for individual and/or group situations (committees, management, senior management).
Interprets, applies and presents complex information in an audience appropriate manner.
Solid grounding in financial software applications and spreadsheet analysis, particularly the use of database applications, queries and custom report generation.
Thorough understanding of the impact of technology on the finance and accounting function, particularly with respect to analysis and presentation of financial information.

KEY ACCOUNTABILITIES

Client / Customer Service Delivery

In conjunction with the Executive Director, Finance and CFO, Manager, Budget and Analysis, Finance managers and affiliated organization representatives, leads the development and implementation of integrated budget analysis, financial reporting and cash flow management strategies.
Consults with Law Society managers, senior managers, Board and Committee members in order to determine financial analysis and reporting needs and to support the integration of automated financial reporting tools for the Law Society and affiliated organizations.
Works closely with others in the Finance Department to ensure quality service to client departments.
Analyzes, clarifies and proactively manages financial and budgeting information, and continually seeks improvements in accounting and financial management processes.
Optimizes short-term investment management and long-term investment administration in liaison with investment managers, brokers, and custodians.
Acts as a financial administration resource for affiliated organizations, reviewing submitted budgets and financial reports and compiling these budgets and reports.

Financial Responsibility

Contributes to the development of departmental and corporate budgets as well as audit and accounting reports, liaising with client departments and representatives from affiliated organizations, to source and clarify financial information for financial reporting.
Prepares draft operational budgets and reporting requirements, analyzes operational results, and provides cost / benefits analysis and recommendations in support of operational decisions. Analyzes financial data, and provides cost / benefit analyses and recommendations with respect to financial, restricted fund and treasury management decisions.
Participates in the completion of required remittances (such as NPO tax returns).
Implements the Law Society’s choices under Generally Accepting Accounting Principles by preparing worksheets and journals either monthly, quarterly or annually.
Develops analyses and recommendations regarding Law Society fund investments and treasury management practices. Administers the recording and analysis of the organization’s fixed assets and other restricted funds.

Research

Supports the Executive Director, Finance and CFO and Manager, Budget and Analysis in the roles of Secretary to the Law Society’s Audit & Finance Committee, other Law Society Committees and the relevant committees of affiliated organizations the Finance department is charged with supporting.
Conducts research as directed by committee(s), Chief Financial Officer and the Manager, Budget and Analysis, drafting financial policy positions for review of same, identifying gaps in policy and process, and suggesting appropriate means of closing gaps and ensuring best practices.
Contributes to the development of the committee agenda, prepares quarterly and year-end financial reports and statements, and attends with the Executive Director, Finance and CFO and Manager, Budget and Analysis to present information and recommendations, in an audience appropriate manner.

Special Projects and Initiatives

Takes a lead role on a variety of ongoing and special projects for the Law Society and affiliated organizations, including continuous development and improvement of financial systems and management processes, research and analysis of new initiatives, and analysis of financial budget and management systems.
Works closely with all departments in the development and ongoing improvement of policies and procedures for the electronic capture, storage and retrieval of financial data, providing analysis and interpretation of client department business needs and the impact on same on the Law Society and affiliated organizations’ financial technology solutions.

Team Membership

As a member of the Law Society Finance team, provides expertise and cross-training to colleagues in the areas of financial analysis, budget development and monitoring, and financial reporting requirements.
The role requires regular, periodic meetings with other departmental managers on budgets, actual results, processes and policies.
Acts as a resource to a full array of teams, committees, departments and divisions, and provides analysis and expertise to special projects and initiatives, communicating best practices and processes regarding budgeting, financial reporting and financial policy research.
COMPETENCIES

Service Orientation

The requirement to maintain a high standard of commitment, ethics, respect, care in service delivery to clients (internal and/or external).

Communication and Interpersonal Skills

The requirement to structure and deliver effective verbal and written communication with clients, staff, licensees, the public, and others in a non-threatening and constructive way.

Team Orientation

The requirement to share responsibility for the achievement of team goals and the associated behaviours required for individuals to contribute effectively in a team environment.

Continuous Improvement

The requirement to demonstrate an attitude that consistently strives to improve a standard of excellence for one’s self and for the benefit of the organization, its licensees and stakeholders.

Problem Solving and Judgement

The requirement to identify and analyze problems, determine root causes, evaluate alternative solutions and take and/or recommend appropriate solutions.

Technical Competence / Professional Knowledge

The requirement to apply knowledge and skills to carry out the work and/or provide advice. This also includes the quality of advice given, as well as the requirement to make decisions in the best interests of the organization as a whole.