Controller

2 weeks ago


Toronto, Canada Well.ca Inc Full time

Position Overview

The Controller is responsible for maintaining the integrity of Well.ca financial information. The Controller will lead, mentor and develop a team responsible for the preparation, review, and analysis of actual results, including reporting on variances to plan, latest estimates, and prior periods. The position is located in the Toronto area and will be required to travel to Guelph periodically.

This role is also responsible for directing the design and execution of policies, procedures, and internal control. Integrity and honesty in all aspects of the work are mandatory for this position.

The Controller will be expected to not only to oversee / manage the preparation of the monthly consolidated statements and reports but also carry out critical analysis to identify business trends. This analysis will ultimately inform evaluation of business development opportunities as well as the normal-course management of the business. The position will supervise the accounting staff and will work closely with all members of the management team to assist in optimizing the performance and profitability of the business.

Responsibilities/Accountabilities

Financial & Operational Reporting
- Responsible for the monthly financial close process for the Company ensuring effective general accounting and general ledger, revenue recognition, payroll, accounts receivable and payable, supplies inventory, risk management, credit, and cost accounting.
- Ensure the Company adheres to Generally Accepted Accounting Principles (ASPE and IFRS) by reviewing changes to pronouncements, determining the impact to the Company, preparing a recommendation, and implementing the reporting standard. This will involve ensuring all emerging accounting issues are monitored for an impact on the Company and proactively managed.
- Ensure accurate and timely reporting of results including analysis and explanation of variances.
- Month end closed in five business days with management report completed within 10 business days of month end.
- Design and administer Corporate Accounting Policies, Procedures, authorities guide and internal controls for the Company’s accounting system.
- Review and approve monthly manual journal entries, accruals, and reversals.
- Work with the auditors to support the year-end audit along with other regulatory reporting requirements.
- Oversee accurate and appropriate accounting system processes. This will involve maintaining a current and working level knowledge of information systems to facilitate the design and implementation of the accounting structure within the system to correspond to business arrangements and to meet business needs.
- Provides backup payroll support as needed.
- Overseeing and supporting the auditor in the preparation of the year end audit.
- Support annual and ongoing budgeting and forecasting efforts.

Treasury & Cash Management
- Provide the treasury role, which includes assessing, monitoring, and planning the utilization of cash for the company.
- Be the primary contact with the bank’s operational team.
- Maintain a current and working level knowledge of financing alternatives, corporate cash and earnings outlooks, contracts and contributing assumptions to financial models used to evaluate prospective opportunities.
- Administer intercompany cash management, ensuring drawings / borrowings and debt repayments with Rexall are made to meet the cash needs of the business.
- Participate in refinancing activities, and provide the necessary documentation and information needed to secure new debt.

Taxation
- Stay current on federal, provincial, and local legal requirements by studying existing and new legislation, anticipating future legislation, enforcing adherence to requirements, filing financial reports, working with tax advisors, and advising management on needed actions.
- Prepare / complete / review monthly federal, provincial, filings, reports, returns and remittances.
- Oversee and support the preparation of tax provision schedules.
- Oversee tax audits.

Other Responsibilities
- Building the finance team / resources to meet the growing needs of the business.
- Assess the individual performance of the team members reporting to the Controller and implement professional development goals and objectives.
- Promote a positive team culture by fostering collaboration, open communication, and mutual respect among team members.
- Given that Well.ca is an entrepreneurial work environment, the Controller will be expected to participate in ad-hoc projects from time to time, as business needs dictate.
- Other duties as assigned.

Education & Qualifications
- Recognized accounting designation (CPA).
- Minimum of 5 - 7 years’ post-designation experience and background with a substantial track record of growth in the financial role, ideally with demonstrated responsibility for full GAAP/IFRS financial statements in the retail or e-commerce space.
- Retail, e-commerce or DTC industry experie


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