Finance Manager

POSITION SUMMARY
We are looking for a Finance Manager who will play a central role in leading the organization’s financial management: in this position you will be responsible for both critical day-to-day operations and for long-term strategic planning. Working remotely, your key areas of work will be accounts payable and receivable; banking; payroll; reporting; tax receipts; budgeting; and the annual audit. You will work closely with the Executive Director and senior leadership team, as well as with the Treasurer and the Finance Committee.

COMPENSATION
Salary range of $95,000 – $110,000 per annum (commensurate to experience), plus flexible health benefits, generous vacation, and remote working with work-life balance flexibility.

RESPONSIBILITIES
The Finance Manager’s responsibilities will include the following key areas:

Finance Department Management

• Maintain all financial/accounting records of the organization in accordance with CRA legal requirements including timely filing in cloud filing system
• Determine accounting/financial implications for organization initiatives
• Maintain the system of controls as required by the organization’s financial protocols and lead efforts to improve internal controls

Accounts Payable and Receivable

• Oversee the preparation of a monthly vendor and contractor payment requisition summary and work with staff on allocation of expenses
• Oversee the preparation of a summary of monthly credit card expenses
• Review all contractor invoices and MasterCard transactions in QuickBooks
• Transmit all electronic payments
• Enter all deposits into QuickBooks
• Oversee all filing and backup records for all revenues and expenses

Banking and Bank Reconciliation

• Monitor bank accounts daily for cash flow planning and potential fraudulent transactions or bank errors
• Reconcile bank statements monthly
• Act as the lead contact with the organization’s banking contacts

Payroll and Personnel

• Prepare and transmit bi-weekly payroll for staff and monthly payroll for contractors
• Enter all journal entries for payroll
• Manage the staff benefits system
• Oversee the preparation and issuing of T4s and T4As
• Maintain central record of staff vacation entitlements

Reporting

• Prepare weekly revenue reports for Management and ensure that all fundraising is being tracked and recorded
• Close financial books monthly and prepare monthly financial reports, including budget to actual variance reports
• Prepare quarterly reports for the Finance Committee

Tax Receipts

• Oversee the preparation of all tax and official receipts for donations
• Send all tax receipts and assist with inquiries from donors
• Maintain master tax receipting list in accordance with CRA requirements

Inventory Management

• Reconcile inventory on a monthly basis, including monthly deferrals, cost of goods sold & cost vs. net realizable value adjustments
• Assess inventory for impairment and prepare inventory provision calculations

Investment Management

• Act as the lead staff contact for the organization’s investment advisor(s) and provide regular updates to Management and the Finance Committee

Budgeting and Financial Planning

• Lead the preparation of the annual budget, reviewing all areas of revenues and expenses with Management and drafting all presentation documents for the Finance Committee (including comparisons with prior and current years)
• Working with Management, lead the preparation of project P&L statements and assist with all related procurement requirements
• Prepare project budgets for funding proposals as required
• Working with Management, prepare forecasts as required
• Working with Management, prepare financial models to support long term planning development as required

Audit

• Close the financial books at year-end
• Make any adjusting journal entries needed
• Review of actual income statement vs. budget
• Review Balance Sheet for anomalies and corrections
• Prepare audit prep per working papers from Auditors
• In consultation with the Finance Committee, implement auditor recommendations
• Once fieldwork is finished for audit, prepare Charity Return in cooperation with auditors
• Lead the preparation of the financial section of the Annual Report

Other

• Complete HST Return annually
• Correspond with Canada Revenue Agency, Charities Directorate, Ministry of Labour, and Corporations Canada as required
• Prepare all financial documentation pertaining to annual insurance renewals

QUALIFICATIONS

• Chartered Professional Accountant (CPA) designation in good standing
• Bachelor’s degree in finance, commerce, business administration, or related
• Knowledge of Accounting Standards for Not-for-profit organizations (ASNPOs)
• Minimum 5 years’ direct experience maintaining financial records, preferably within an arts organization context
• Experience in managing payroll
• Experience in overseeing annual budgets and audits
• Strong knowledge of QuickBooks
• Strong proficiency with Microsoft Excel and Word
• Working knowledge of DonorPerfect or a comparable donor database system is an asset
• Superior attention to detail and discretion
• Superior organization skills and ability to prioritize effectively, and meet tight deadlines
• Strong ability to work remotely and independently as well as follow direction and communicate effectively