Financial Analyst
2 weeks ago
Job Description
Financial Analyst - FMHC Competition #: FY2425-026 Date Posted: May 9, 2024 Date Closed: Until Filled Salary Range: HCCSS Non-Union Band 4 - $67,765.50 t0 $80,915.67 Reports to: Manager, Finance Category: Permanent Full-time Location: Etobicoke Office - 401 The West Mall CARE AND BE CARED FOR - THIS IS YOUR HOME Reporting to the Manager, Finance, the Financial Analyst provides financial administrative support for the finance department specifically accounts receivables, payables, billing as well as analysis to ensure accuracy and reliability of financial and statistical data with respect to the general ledger, internal & external submissions in accordance with Management Information System (MIS) standards. What will you do? Corporate Accounting/Finance- Maintains General Ledger (GL) integrity by ensuring accuracy and compliance with MIS and the approved budget
- Verifies accuracy of costs, quantities, allocation and backup to appropriate expenditures accounts
- Responsible for processing payments through financial system and online direct deposit ensuring strict deadlines are adhered to
- Leads weekly cheque runs and the preparation of manual cheques when required
- Reconciles the GL the in financial system by verifying the accuracy of account allocation for Home and Community Care Support Services Purchase Service invoices and payroll/benefit accounts and cost centres
- Leads the cash management process by compiling the related information from payroll, billing and accounts payables on a daily basis, escalation for cash loan requirement from financial institutions; leads the reconciliation process including cheque clearance in the financial system
- Leads preparation of related journal entries for bank transaction
- Responds to bank enquires in relation to banking activities (e.g. stop payment, transmission failures, etc.), recognizes risk and takes appropriate action, escalating to management where appropriate
- Verifies the internal control system as it relates to bank deposits
- Prepares and posts month-end purchase service accruals and all year-end accruals
- Performs ongoing maintenance in the financial system including new account and vendor setup, running month-end reports, etc.
- Conducts confidential account analysis across the organization as requested (i.e. analysis of liability accounts, expenditure accounts)
- Compiles confidential data for year-end balance reconciliation for various service providers
- Coordinates confidential transactions between payroll and finance including transmission of biweekly payroll file to the bank in a timely manner to ensure payment
- Verifies confidential payroll related payment with respect to statutory dues to sets up the online payment
- Provides confidential data to support organizational strategies and direction
- Assists the Manager, Finance in maintaining appropriate internal control systems and ensuring procedures are in place to safeguard financial and other assets of the organization
- Assists the Manager, Finance during statutory audit by preparing and analyzing various reports and analysis as may be required by the auditors
- Completes a periodic cash flow analysis for review by the Manager, Finance.
- Reviews bank deposits, monthly bank statements maintenance, bank reconciliation
- Participates in the development and successful implementation of the department's annual Business Plan
- Reconciles the GL financial and statistical billing records with billing system for FMHC billing quarterly MIS trial balance submissions
- Leads the billing and payables process, ensuring the correct amounts, allocations, etc. are accurate and timely
- Responsible for regular billing analysis; liaises with managers, staff and service providers for billing and finance related issues
- Responsible for producing and analyzes weekly billing reports for management, and Quarterly billing for FMHC submission to external stakeholders.
- Provides interpretation, advice and technical guidance to Accounts Payable staff in matters of financial processes and procedures on a day to day basis specifically for FMHC program.
- Conducts investigations on billing and service provider issues such as resubmissions, pricing, rejections and resolves issues and escalates to Manager, Finance as required
- Leads with the preparation of accounts receivable invoices related to expenditure recoveries as required
- Supports the Family Managed Home Care Program
- Provides weekly/monthly analysis to patient services on contracted out billing fluctuation as is related to service providers and identifies trending and risk as it relates to billing
- Runs ad hoc reports (i.e. Clinic reports, Service Provider Impact reports etc.) and provides analysis of the expenditures to senior management, client services, auditors etc.
- Conducts the reconciliation based on MIS guidelines, between Client Health Related Information System (CHRIS) and Great Plains and is responsible for ensuring accuracy of the statistics reported for the quarterly report to the Ministry of Health/Ontario Health (MOH/OH)
- Compiles, analyzes and supports the Manager, Finance, Manager Financial Planning & Reporting & Director of Finance to ensure accurate submission of confidential financial and statistical reports to the MOH/OH and other Government bodies (i.e. Annual Reconciliation Report, Trial Balance Submission; quarterly/year end and supplementary reports)
- University degree or College diploma in Finance or a related discipline (or equivalent combination of education and experience)
- Actively pursuing a professional accounting designation (e.g. Certified Management Accountant (CMA), Certified General Accountant (CGA) or equivalent)
- Four (4) to six (6) years' experience in accounting and finance administration/procedures and maintaining confidential financial files
- Training in tools, systems and databases used in budgeting and accounting
- Working knowledge of Generally Accepted Accounting Principles (GAAP) procedures, and MIS standards
- Experience / working knowledge in financial reporting and analysis
- Excellent planning, time-management, multi-tasking and organizational skills
- Ability to handle pressure in a fast paced, changing environment
- Experience in a health related environment preferred
- Attractive comprehensive compensation packages and benefits
- Valuable development opportunities
- Membership in a world class defined benefit pension plan
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