Financial Analyst

Overview

Join to apply for the Financial Analyst role at Magna International
.

Get AI-powered advice on this job and more exclusive features.

What We Offer:

At Magna, you can expect an engaging and dynamic environment where you can help to develop industry-leading automotive technologies. We invest in our employees, providing them with the support and resources they need to succeed. As a member of our global team, you can expect exciting, varied responsibilities as well as a wide range of development prospects. Because we believe that your career path should be as unique as you are.

Transforming mobility. Making automotive technology that is smarter, cleaner, safer and lighter. Magna Powertrain is a premier supplier for the global automotive industry with full capabilities in design, development, testing and manufacturing of complex powertrain systems. Our name stands for quality, environmental consciousness, and safety. Innovation drives us and we drive innovation. Dream big and create the future of mobility at Magna Powertrain.

Mission of the Position: The Financial Analyst provides financial planning and analyses for the Toronto Engineering Center located in Markham, Ontario. This role involves monitoring financial data against plans, forecasts, and budgets, as well as gathering, organizing, and documenting relevant financial information. The analyst identifies trends, explains financial results, and prepares detailed reports and presentations for review by management at all levels.

Additionally, they consolidate operating and financial projections to support the development of short-term and long-term business plans. In addition, this position will assist with administration activities related to the Toronto Engineering Centre.

Accounting

• Receive and verify invoices and requisitions for goods and services
• Verify transactions comply with financial policies and procedures
• Process posting of invoices and payments to Sage ACCPAC including capital purchases
• Set up and post AP accrual on a monthly basis
• Verify accuracy of bi-weekly payable cheque runs
• Reconcile processed work by verifying entries and comparing system reports to balances
• Ensuring intercompany balances are reconciled at month end and documented appropriately
• Charge expenses to accounts and cost centers by analyzing invoice/expense reports; recording entries
• Maintain accounting ledgers by verifying and posting account transactions ensuring accuracy of GL coding
• Verify vendor accounts by reconciling monthly statements and related transactions
• Maintain historical records by filing documents for suppliers and different projects
• Protect organization’s value by keeping information confidential
• Process intercompany invoices for group & engineering fees
• Ensure intercompany balances are reconciled at month end
• Apply payments as they are received to the appropriate customer/intercompany partner
• Provide support in the preparation of annual budget and quarterly forecast of the organization
• Creating and submitting capital expense requests in Kepion for approval, reviewing and updating capital purchase information regularly
• Preparing and analyzing financial data of Toronto Engineering Centre in CMF binders for September Hard close and December Roll forward
• Conducting month end closing – creating, reviewing, and posting journal entries, reconciliations, creating j-Level journal entries in HFM/One Stream, confirming balances with divisions
• Analyzing and presenting monthly performance data during operational reviews
• Analyzing BP/Forecast and presenting updated information during monthly Proforma reviews
• Tracking and reviewing NA finance KPIs (CAPEX, Absorption, EBIT, Headcount, project spending, etc.)
• Special projects and/or duties as assigned

Engineering Office Administration

• Assist Engineering staff in maintaining up to date cost summaries for each project
• Prepare Monthly, Quarterly and Year-end reports of department spending by program and non-program areas with comparison to budget
• Assist in the financial preparation of reports for special programs such as COCA and SR&ED
• Track cross border internal charges and the cost of engineering services provided to divisions in different countries
• Assist in keeping the Dovico system up to date and accurate, as well as pull reports from the system for individual programs, individuals and the overall department
• Assist Engineering staff in obtaining quotations for outsourced services and components as required
• Work with engineering personnel and suppliers to ensure correct invoices and receiving documentation are received, reviewed, and filed
• Track and verify accuracy for all expense reports including back up documents for the department prior to submission
• Tracking and consolidating Key Measurement Indicators (KMIs)
• Provide administration support and coordination for the ISO/IATF process as required
• Track project hours, external costs for projects and comparing them to the budget and forecast. Explain…