Financial Controller

Learn more about the Financial Controller role at The Magnes Group.The Role

• Reporting to the CFO, the Financial Controller is accountable for the accounting operations of the company, including the production of financial reports, maintenance of an adequate system of accounting records, and comprehensive set of controls and budgets designed to mitigate risk, enhance the accuracy of the company’s reported financial results, and ensure that reported results comply with generally accepted accounting principles or international financial reporting standards.
• All Finance & Accounting Staff (currently three direct reports) will report to the Financial Controller, as designated by the CFO. The Controller will follow company processes around performance management and career development for the designated team.
• The Financial Controller is to provide leadership of company financial planning and budget management functions in conjunction with the Executive Management Team.

Essential Functions

Management

• Maintain a documented system of accounting policies and procedures
• Oversee the operations of the accounting department
• Oversee the accounting operations of subsidiary corporations, especially their control systems, transaction-processing operations, and policies and procedures.

Transactions

• Ensure that accounts payable are paid in a timely manner
• Ensure that all reasonable discounts are taken on accounts payable
• Ensure that accounts receivable are collected promptly
• Ensure bank reconciliations are completed
• Ensure that required debt payments are made on a timely basis
• Maintain the chart of accounts
• Maintain a system of controls over accounting transactions

Reporting

• Issue timely and complete financial statements
• Calculate and issue financial operating metrics
• Manage the production of the annual budget and forecasts
• Calculate variances from the budget and report significant issues to management
• Provide a system of managing cost reports
• Provide financial analysis as needed, in particular for capital investments, pricing decisions and contract negotiations

Compliance

• Coordinate the provision of information to external auditors for the annual audit
• Monitor debt levels and compliance with debt covenants
• Comply with local, provincial and federal government requirements and tax filings

Additional Duties

Team Support:

• Lead by example, being a positive role model
• Contribute to a positive team environment by working efficiently, professionally and in a friendly manner
• Improve our organization by sharing ideas and opinions, contributing and building communication in all directions and levels
• Assist others as needed and perform other duties as assigned.

Professional Conduct:

• Communicate effectively to all employees and management
• Provide unrivalled customer service to all internal and external customers, exhibiting superior communication skills and problem-solving skills
• Maintain security in accordance with internal control
• Adhere to guidelines and best practices set forth by RIBO, and other licensing bodies as applicable
• At all times, respect the privacy and confidentiality of all customers and staff information
• Respect the importance of attendance and punctuality and the impact it has on the rest of the team
• Exemplify our corporate values as outlined in our Employee Manual
• Actively participate in continued learning programs or training

Performance Expectations:

• Adherence to department workflows
• Adherence to department service standards to clients, employees & vendors

Core Competency Standards

• ACCURACY AND ATTENTION TO DETAIL – Ability to perform work accurately and thoroughly.
• COMMUNICATION – Ability to communicate effectively using the spoken and written word. Ability to actively attend to, convey, and understand the comments and questions of others.
• CONFIDENTIALITY – Maintaining strict confidentiality per Magnes privacy guidelines for client and employee and proprietary information.
• CUSTOMER ORIENTED – Ability to care for customers’ needs while following company procedures.
• RELIABILITY – The trait of being dependable and trustworthy.
• TEAMWORK – Ability to be part of a team and work cohesively to achieve goals.
• TIME MANAGEMENT – Ability to utilize the available time to organize and follow a systematic method of prioritizing tasks in order to complete work within given deadlines.
• PROFESSIONALISM – Represent Magnes professionally both internally and externally at all times.
• INITIATIVE – Ability to make decisions or take actions to solve a problem or reach a goal.
• SELF-MOTIVATED – Ability to be internally inspired to perform a task to the best of one’s ability using his or her own drive or initiative.
• RESPONSIBLE – Ability to be held accountable or answerable for one’s conduct.
• RESPECT – Values the backgrounds, experiences, opinions, feelings and contributions of everyone in the course of delivering our services.
• INTEGRITY – Recognizes that building trust demands honesty. Displays a commitment to doing what we promise—being truthful and being seen as honest and credible in the workplace.
• INNOVATION – Constantly strives to improve our culture and our customers’ value proposition by searching for better solutions, processes and tools.

Job Specific Competency Standards

• ANALYTICAL SKILLS – Ability to use thinking and reasoning to solve a problem.
• TECHNICAL APTITUDE – Ability to comprehend complex technical topics and specialized information.
• WORKING UNDER PRESSURE – Ability to be flexible and complete assigned tasks under stressful situations in a professional manner.
• PROBLEM-SOLVING – Detects potential problems early and seeks to solve them before they escalate. Uses analytical skills and creativity to solve problems. Knows when to ask for assistance or advice. Utilizes the available resources of the company.
• COACHING AND DEVELOPMENT – Ability to provide guidance and feedback to help others strengthen specific knowledge/skill areas.
• CHANGE MANAGEMENT – Ability to encourage others to seek opportunities for different and innovative approaches to addressing problems and opportunities.
• PROJECT MANAGEMENT – Ability to organize and direct a project to completion.

Skills and Qualifications

• Education – University Degree in Finance or Accounting, preferred but not required
• Languages – Excellent written and oral communication skills
  • Ability to speak French is an asset
• License & Certifications – CPA designation is a definite asset
  • Insurance Broker license not required
• Industry Experience – Minimum four years of accounting experience
  • Experience in senior accounting role preferred
  • Brokerage & insurance industry experience a definite asset
  • Team Lead & Management experience a definite asset
• Computer Skills – Advanced skills in Excel
  • Intermediate skills in Outlook & MS Office
  • Experience with EPIC is a definite asset
• Other Technical Skills – Working experience with online banking, EFT’s & wire transfers a definite asset

Compensation

• Salary Range Guideline
• Commission Structure
• Bonus Incentives
• Vacation Days
• Personal Days & Birthday
• Sick Days
• Group Benefits Plan
• Registered Retirement Savings & Pension Plan
• Education Reimbursement

About The Magnes Group

The Magnes Group Inc is one of Canada’s leading independent insurance brokerages. Magnes has unique commercial insurance expertise in several industry niche markets, as well as private client insurance and corporate group benefits consulting. Magnes offers specialized services ranging from global insurance placement to innovative risk management strategies.

Magnes is licensed nationally across Canada with offices in Oakville, Toronto, Vancouver and Montreal. Magnes is also proud to be an exclusive Assurex Global Network member. Our clients benefit from strategic international partnerships with the ability to “think globally and act locally.”

Magnes proudly employs some of the best insurance professionals in the business. Our team consists of a dynamic group of individuals, including some of the brightest minds in risk management. Our vision is to be a “magnetic” organization that naturally attracts and retains the best-in-class of clients, suppliers, partners, and, most importantly, our employees.

If you are looking to join our team, we are interested in hearing from you.

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Experience the Value of an Independent Brokerage

At The Magnes Group we do things differently. With effort and care, we deliver the very best personalized insurance coverage and risk management advice. We serve businesses and individuals who appreciate quality, precision, and value in a way that many other insurance brokerages can’t or won’t.

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