Vice President of Corporate Insolvency

We have an exciting opportunity for an Insolvency and Restructuring Professional to manage and build the corporate insolvency practice for one of our valued clients.

Our client, founded in 2013, provides licensed professional insolvency protection to businesses and to individuals with complex financial issues and to consumer debtors within their personal insolvency practice throughout Ontario.

The ideal candidate is a professional who is flexible and adaptable to multiple requirements of the role. They thrive in a fast-paced environment and work well both independently as well as within a team. This is a challenging position and is suitable for professionals with exceptional interpersonal skills who provide resolution strategies that balance obligations to creditors with the duty to provide straightforward counsel to the debtor and explore all viable opportunities to discharge liabilities and preserve assets.

This is a unique search in that we are open to meeting with professionals who:

• Have recently become an LIT and are looking to be mentored and developed by senior LIT's with the intention to run the corporate practice;
• Are an LIT and are looking to move from consumer to corporate;
• Are an LIT with corporate experience looking to advance to a VP or Partner role.
  

Our client is offering an attractive compensation package including full health benefits and a company car, an opportunity to manage the corporate practice in a friendly, non-competitive environment.

Responsibilities include:

• Administration of insolvency proceedings including recording creditor and debtor details, assets, preparation of documents, filing documents with the Official Receiver, managing deadlines, organizing mailings and newspaper advertisements, preparing affidavits, maintaining insolvency data;
• Preparation of reports to creditors, participation in meetings of creditors and inspectors, preparation of minutes and general file review to ensure all outstanding matters are dealt with prior to assigning to closeout;
• Manage reporting in accordance with the Bankruptcy & Insolvency Act, as well as various other related statutory reporting requirements;
• Manage insurance filings, accounts receivable collection, financial reporting, screening related mail and responding accordingly;
• Manage correspondence with other professionals involved in the proceedings such as legal counsel, appraisal companies, interested parties, etc.;
• Ensuring the firm's website is updated with information and documents regarding insolvency engagements;
• Preparation of Statement of Affairs;
• Review of Assets, Receivables and Secured Creditors;
• Able to continue with the growth of a vibrant and robust Corporate Insolvency Department (billings of 100k yearly);
• Assessing a variety of complex business issues and formulating recommendations to the Court, and/or to various stakeholders with a view to maximizing recoveries for creditors, while maintaining, where possible, the viability of a business. In this regard, prepare written reports to the Court and/or to other stakeholders, in accordance with the mandate of the file;
• Analysis of books and records;
• Analyzing financial data, reviewing financial models, and accounting records;
• Assessing companies' current financial position, business plans and financial forecasts
• Identifying areas of concern and developing practical solutions to address them;
• Ability to prepare or manage integrated cash flow models;
• Participating in Meetings of Creditors and Meetings of Inspectors;
• Manage enquiries from creditors, debtors, and stakeholders;
• Preparation of billings for professional services rendered and the taxation of accounts by the Court;
• Managing workflow of large projects to ensure correct processing which includes internal team members and/or third-party professionals.
• Managing and tracking Section 246 reports required in Receiverships;
• Perform PPSA and corporate and other searches as required; 
• Participation in the marketing and sales teams is expected;
• Creation and maintenance of processes to ensure efficiency and compliance with the CAIRP standards of professional Practice;
• Manage proposal payment arrears files and clients experiencing payment issues;
• Manage consults, file input, file review;
• Be the corporate insolvency trustee resource for the firm for an provide guidance and/or mentorship when required.
  

Requirements:

• Enrolled in the Chartered Insolvency and Restructuring Professional (CIRP) program and have completed (or in process of completing) the CIRP National Insolvency Examination (CNIE);
• CPA and/or senior finance designation or in the process;
• Accounting/Finance/Legal experience is strongly preferred;
• 3 or more years previous experience within the restructuring field;
• Exceptional communication and interpersonal skills;
• Excellent knowledge and understanding of insolvency rules, laws, and procedures;
• Proficient in MS Office (Word/Excel/PowerPoint);
• Advanced financial modelling skills;
• Detail oriented, excellent organizational skills;
• Able to prioritize with the flexibility to manage multiple projects simultaneously;
• Dedication and strong work ethic;
• Positive team player who regards themselves as a life-longer learner;
• Demonstrated strong organizational skills and excellent attention to detail;
• Requires little supervision on routine tasks.
  

If you are interested in learning more about this opportunity and meet the requirements listed above, contact us at [email protected].

Why is Prasad & Company LLP posting this position?

Prasad & Company LLP is a public accounting firm based in Thornhill with a secondary location in Vancouver. Our Firm offers a full range of services including business advisory, assurance, tax preparation, and estate and business succession planning. Recently we included recruitment and technology services to our offerings.

Prasad & Company LLP is an equal opportunity employer committed to diversity and inclusion. Our goal is to attract, develop and retain highly talented employees from diverse backgrounds, allowing us to benefit from a wide variety of experiences and perspectives. We welcome and encourage applications from all qualified applicants. Accommodations for persons with disabilities required during the recruitment process are available upon request.

Thank you in advance for your interest.

Only those candidates selected for interviews will be contacted.