Financial Analyst - Toronto, Canada - TFS Canada's International School

TFS Canada's International School

Verified Company

Toronto, Canada

3 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

Position:
Financial Analyst

Position Type:
Non-Union, Full Time, Permanent Position, Monday to Friday

Working Language:
English (French would be an asset)

Location:
Toronto campus - 306 Lawrence Avenue East, Toronto, Ontario, M4N 1T7

Branch:
Business Office

Start Date:
Immediately

About the position:

Reporting to the Controller, the Financial Analyst would examine financial data and predict future financial trends.

The main responsibilities include analyzing past trends, evaluating financial risks, and predicting upcoming financial trends in the business, in order to work effectively with various departments and budget holders.

This role is also a key participant in budget preparation and payroll analysis.

Occasionally supervises summer students as required.

Main duties and responsibilities

Assists in developing financial statements for the school.
Demonstrates an understanding of relevant financial metrics and concepts.
Executes complex activities that support general accounting.
Demonstrates awareness of the school's budgeting process, ads to budgeting protocols, and works in a manner that is consistent with achieving the financial goals.
Gathers information pertinent to the budgeting process and analyzes validity of transactions
Identifies discrepancies between actual and budgeted spending.
Analyses financial statements to assess the impact of different processes that support general accounting and identifies trends and areas of improvement.
Demonstrates an understanding of professional accounting standards, requirements, and procedures related to the business.
Ensures the accuracy of financial transactions and reports.
Reconciles the organization's payroll and is the lead for all payroll budgeting.
Works closely with HR to ensure FTE's hired match the budget process
Foundation: This role is the primary financial liaison with the Foundation.

Operations

Month End Reporting:

Review income statements and perform monthly detailed variance analysis of actual results against forecast and budget. Recommends monthend journal entries and corrections as needed according to standard accounting practices.
Communicates clearly to budget holders the actual results, analysis and gathers feedback to achieve their financial targets.
Develops and maintains expense dashboards for various departments.
Ensures timeliness, integrity, completeness and accuracy of assigned reports.
Review and prepare claims for intercompany transactions
Assist the CFO in the development of policies as required. Analyze the financial impact of transactions, and create adjusting entries to reflect the correct accounting treatment
Work closely with the CFO, Facilities, and the Business Office to set up facility rental contracts and collect payments
Reconcile monthly payroll transactions and create adjusting entries as required
Ad Hoc analyses as required

Annual Tasks

Assist the Controller in preparing financial notes for the statutory financial audit
Assist with the year end audit by working closely with the auditors and providing any backup required
If a policy change has occurred, work with the auditors to provide any backup required

Finance Management

Governance

Prepare supplemental financial statements for review by management and the Audit and Finance committee /Investment and Finance committee
Manage the report preparation, communication, and follow up with the Sustainability and Property Committee
Provide ad hoc analysis and support and for governance committees as required

Budgeting and Forecasting

Annual Budget: Meet with budget holders, complete trend analyses, and assist in setting up a budget for the following year
Forecasting: Collaborate with budget holders and business office team to analyze expense trends and reforecast for the budget.
Assist in the enhancement and development of expense dashboards and financial models as needed.

Business Analysis and Support

Lead the full cycle of requests for proposals for key contracts working closely with the CFO; Prepare Request for Proposal (RFP) document, communicate with vendors, analyses on responses, set up demonstrations, obtain contract approval from the Board, and assist in reviewing the contract
Design and deliver insightful ad hoc business analysis and reporting to assist budget holders to measure performance effectively and achieve their goals.
Assist in preparing financial report packages for board committees
Analyze and identify variances in financial statements and financial impact for transactions
Prepare trend analyses and cost reports for special projects and budgetary needs.
Develop budgets with Heads' Council as required

Foundation Related responsibilities

Manage full accounting cycle for Foundation including revenue, intercompany, bank and investments' reconciliations
Manage and generate financial statements for internal and external report