Financial Planning

2 weeks ago

Toronto, Canada HomeEquity Bank Full time

WHO WE ARE

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.

Our Values, Our Passion
At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.

We Are Customer-Focused, Passionate Advocates.

We Have the Courage to Act and Do the Right Thing.

We Are One Team, with One Vision.

We Think Long-Term, We Are Ever-Evolving.

We Strive to Be Exceptional and Inspire Greatness.

***:
The role will work closely with the Director FP&A and Taxation, VP, FP&A and CFO to lead the Bank’s budgeting, planning, and forecasting cycles, and will also manage the Bank’s tax compliance and tax planning.

**MAJOR ELEMENTS OF THE ROLE**:
The role is a critical resource to the Bank in providing financial analysis to support decision making throughout the enterprise. The incumbent will assist in the design and continued development of the processes and best practices for the analytics of the Bank.

Annual budget
- Preparation of the annual budget working closely with multiple stakeholders
- Analysis of the budgeted profitability and overhead expenses
- Manage and analyze the FTE and salary budget with H/R
- Reporting and analysis of operational metrics, KPIs
- Preparation of budget reports and packages for executives and board
- Managing the bank’s long term financial model and preparation of the five-year financial projection

Financial Forecasting
- Supports the month end process including financial statement analysis and associated reporting of budget and reforecast variance
- Preparing and reporting monthly forecast and projecting the full year results
- Assisting with tracking and reporting on budget/ forecast to actual results, with high attention to details, along with proactively actioning on variances
- Periodic (quarterly, monthly) preparation and presentation of drivers and metrics with analysis and insights on achievement of financial objectives
- Analysis of changes to forecast through all P&L line items
- Preparation of executive management and board reports

Budget and Forecasting System
- Leading the development and maintenance of financial modules and reports in the Banks’ budgeting and reporting software
- Work to increase depth and accuracy of P&L forecasting through development of robust sub processes
- Development of new financial reports and dashboards to meet business needs
- Participate in the assessment of the current system’s functionality

Enterprise Decision Support
- Participation in strategic project teams across the Company
- Support business decision making through the provision of finance and commercial insight, challenging assumptions and preconceptions, and supported with relevant and effective analysis
- Business and contribution analyses to highlight areas of strategic and tactical focus.

Income and Commodity Taxes (10% of the Role)
- Preparation of monthly tax provision (current and future taxes), quarterly financial statement tax disclosures, quarterly tax rate reconciliation
- Preparing and filing of annual commodity tax returns (along with all supporting calculations) for all group legal entities
- Ensure that income and commodity tax compliance filings are completed within filing deadlines
- Develop, analyze and execute recurring tax planning strategies and assess its financial impact for the business
- Monitor and report on changes to Canadian and provincial income tax

**SKILLS AND EXPERIENCE REQUIRED**:

- A University Degree with Major in business or accounting
- A Professional Accounting or Management Designation
- 7-10 years of experience in management accounting and reporting roles
- Tax (corporate, commodity tax) experience preferred (not mandatory)
- High level of Excel modeling development
- Excellent analytical skills
- IFRS - existing and future requirements
- Knowledge of MS Office suite of products
- Experience in cross-function interactions
- Excellent verbal and communication skills
- Excellent business and problem solving skills
- Well organized and effective time management skills

WHY WORK AT HOMEEQUITY BANK?

Great Environment
HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility - an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.
We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.

A Dynamic Culture - With People at the Centre
We believe our people make all the difference, and our tireless commitment to inclusivity, professional development, and

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