The OPPORTUNITY:
- Reports to: President
- Department: Finance
- Direct Reports: 5
- In office w/paid underground parking (Location downtown Edmonton, AB)
PRIMARY PURPOSE:
The Director of Finance will involve serving as a trusted advisor with strong emotional intelligence, capable of recommending and developing long-term financial strategies, overseeing budgeting and financial planning, ensuring compliance with accounting standards and tax requirements. The Director will ensure accurate and timely financial reporting with internal controls, identifies, and manage financial risks and implements operational improvements. They will collaborate with the executive and management team while effectively communicating financial performance and strategies to external stakeholders as required. This ensures the financial management of the company is both strategically aligned with long-term goals and operationally sound. This leader will develop the finance team of five members and will demonstrate and model our core values of communication, respect, teamwork, accountability, and innovation in their everyday interactions.
ESSENTIAL FUNCTIONS (Key Responsibilities):
Financial Strategy
- Recommend and develop long-term financial strategies aligned with the company’s goals and execute implementation following senior leadership approval. Forecast future financial performance and collaborate with President on acquisitions.
Budgeting and Financial Planning
- Oversee the annual budgeting process, lead regional and functional managers through the budget and forecasting processes to support timely accurate information for decision making that is aligned with strategic objectives. Monitor and analyze budget variances on a monthly basis, providing insights and proactively making recommendations for corrective actions for any business and financial reporting processes.
Leadership and Team Development
- Lead and manage the finance team, involves recruitment, training, performance management, and fostering a collaborative work environment. Foster a culture of high performance and continuous improvement. Provide mentorship and career development opportunities. Develop department goals that complement the overarching goals of the company.
Financial Reporting and Compliance
- Ensure compliance with ASPE standards, regulations, internal financial controls, and tax reporting. Implement and maintain appropriate financial processes and procedures.
- Manage the general ledger, accounts payable, accounts receivable, payroll processing approval and banking reporting. Ensure accurate and timely processing of all financial transactions.
- Oversee month end process to ensure the accuracy of financial records and establish and maintain strong internal controls to safeguard company assets and ensure the integrity of financial reporting.
Risk Management
- Identify, assess, and manage financial risks. Develop risk mitigation strategies, including insurance, hedging, and diversification.
IT
- Lead or have significant involvement in Business Central system/processes implementations and subsequent system upgrades.
- Lead IT infrastructure and hardware requirement provided by our third-party provider.
Operational Efficiency
- Identify opportunities for operational efficiencies and cost savings across the organization. Implement best practices in financial management and operational performance. Develop and monitor key performance indicators (KPIs) to track the company’s financial and operational performance. Use data-driven insights to drive improvements.
Stakeholder Communication
- Collaborate closely with the executive team to provide financial insights that drive strategic decisions. Function as a key advisor to the executive team.
Audit
- Complete the year-end audit process. Review and approve all reconciliations and audit working papers. Coordinate external auditors, respond to audit requests, approve all adjustments, and reconcile the audit numbers.
YEAR ONE OBJECTIVES: Disclosed in interviewing process.
JOB EFFORT AND WORKING CONDITION:
The working conditions for a Director of Finance are typically demanding involving typical standard for office environments with extended hours, especially during budget cycles, audits, and financial reporting periods. The role entails elevated levels of responsibility and varying levels of stress can occur when making significant financial decisions on the organization. Frequent interactions with executives, managers, and external stakeholders are common, requiring strong interpersonal and communication skills. While the work is primarily conducted in an office setting, some travel might be necessary, particularly due to Formations having multiple locations. Continuous learning to stay current with financial trends, laws, and technologies is essential, alongside maintaining high ethical standards and precision in financial reporting and compliance.
QUALIFICATIONS, COMPETENCIES AND ATTRIBUTES:
- Business administration or commerce degree is required. MBA is an asset.
- Chartered Professional Accountant (CPA) designation is required. Candidates that qualified at a major public accounting firm preferred.
- Minimum of 5-7 years of experience in a managerial role. Specific experience in the manufacturing or building supplies sector is preferred.
- Proficiency in Microsoft Office applications, ERP (Business Central), Reporting tools (Solver) and experience with UKG Pro is an asset.
- Proven leadership and team management abilities in motivating a diverse team.
- Willingness to take on a broad range of duties and projects and comfort with a flexible, hands-on approach.
- Excellent analytical skills with the ability to interpret complex financial data and communicate findings effectively.
- Meticulous with a commitment to accuracy and integrity in financial reporting.
- Initiative-taking problem solver with the ability to identify issues and implement solutions in a demanding environment.
- Ability to understand multiple perspectives and influence key stakeholders in a positive manner.
