Director of Finance

Our client has an exciting opportunity to be part of the Senior Leadership Team as a Director of Finance for professional accounting firms.

With over 30 years of continuous growth, our client provides insurance and risk related solutions for accounting firms in public practice within Canada and Bermuda.

These products allow insured clients to mitigate insurance-related risks and provide them with peace of mind and confidence to focus on their practice.

Reporting to the CEO, the successful candidate will be an important member of the senior leadership team. The Director of Finance will oversee all aspects of financial reporting ensuring the accuracy and timeliness of financial statements, compliance with accounting standards, and providing insightful analysis to leadership by producing comprehensive and reliable reports, with a primary focus on maintaining the highest level of data integrity and reporting accuracy.

Key areas of responsibility are to:

• Ownership of key financial processes and controls for the organization.
• Ensures controls are in place as required by audit level organization and ensures team and organization is trained and understands key processes and controls.
• Ensures that processes are effective and efficient, and the organization follows applicable financial reporting standards and industry compliance requirements.
• Reviews and approves journal entries and journal entry log monthly.
• Completes monthly GL reconciliations for the balance sheet accounts and review/sign off reconciliations.
• Responsible for company cash flow management including review and approval of payments to vendors, payroll, and monitoring cash balances.
• Ensures management of collections including ensuring reserves are appropriately calculated and trued-up quarterly or as required. Escalates collections risks to CEO and works with claims team to ensure open items are being actively addressed.
• Responsible for oversight of government remittances, taxes and payroll controls and processes.
• Leads the annual audit process and enables organization to maintain a clean audit opinion.
• Keeps abreast of changes to accounting standards and industry regulations, and ensures team is trained on timely basis for any relevant changes.

• Leads month-end close processes, ensuring attention to detail by team and delivery of accurate and timely results.
• Maintains and communicates closing schedules for internal and external deliverables.
• Prepares monthly investment, adjusting, fixed asset depreciation and lease adjusting entries.
• Reconciles claims activities between the claims administration system and General Ledger.
• Processes accruals and prepaid journals.
• Delivers monthly financial statements to CEO and management on timely basis, with highlights of result variances to budget, prior year and forecast.
• Ensures investigation of variances and highlights risks and significant deviations from expectations.

• In conjunction with the CEO, the Director of Finance is responsible for leading the annual financial planning process, ensuring the process is planned and completed prior to the beginning of the fiscal year. The budget will be compiled in a format that will be easily compared to quarterly and annual financial statements. Assumptions documentation and presentation of budget for Board approval is required.
• Compiles monthly financial statements compared to budget for the CEO.
• Compiles quarterly report and annual report that includes financial statements with management discussion and analysis notes and a comparison to the approved budget for distribution to the Board of Directors.
• Prepares and presents quarterly forecasts.
• Compiles annual financial statements with full note disclosure in accordance with relevant accounting standards.
• Completes annual financial statements for external auditors with an aim to have no adjustments required by auditors.
• Presents of Key Performance Indicators on monthly basis for management reporting, and quarterly basis for the Board of Directors review.
• Directs forward expense planning and management including, planning for growth and replacement of capital expenditures.
• Leads implementation and execution of investment strategy and advises on key changes or updates.
• Analyzes actual expenses against benchmarks and communicates to senior management.
• Compiles and analyzes financial reporting packages.
• Oversees development and refinement of business operational reporting, working in conjunction with business leadership and CEO.

• Providing guidance and development planning through regular interactions with accounting manager and other members of the accounting team.
• Coaching and developing the accounting manager to ensure effective management of indirect reports.
• Setting the bar as the leader, acting with integrity and using sound judgement.
• Identifies…