Director of Finance

Description 

The Director of Finance will oversee all aspects of financial reporting within CPA PLI, ensuring the accuracy and timeliness of financial statements, compliance with accounting standards, and providing insightful analysis to leadership by producing comprehensive and reliable reports, with a primary focus on maintaining the highest level of data integrity and reporting accuracy. 

About Us

 CPA Professional Liability Plan Inc. (CPA PLI) is a profession-specific company for CPAs, by CPAs. For over three decades, we have focused on providing insurance and risk related solutions to accounting firms in public practice within Canada and Bermuda. Our products and services allow insured members to mitigate insurance-related risks of the profession and provide them with peace of mind and confidence to focus on their practice. CPA PLI employees are committed to the accounting profession, while being experts in their respective fields, including accounting, law, and insurance. We are seeking a skilled Director of Finance to fulfill a critical need within our organization, and we would be delighted to have you join our team in this role.

Duties and Responsibilities

Reporting to the CEO, the successful candidate will be an important member of the leadership team. The Director of Finance will oversee all aspects of financial reporting within CPA PLI, ensuring the accuracy and timeliness of financial statements, compliance with accounting standards, and providing insightful analysis to leadership by producing comprehensive and reliable reports, with a primary focus on maintaining the highest level of data integrity and reporting accuracy. Key areas of responsibility are to:

Maintain key accounting and internal controls including: 

• Ownership of key financial processes and controls for the organization. Ensures controls are in place as required by audit level organization and ensures team and organization is trained and understands key processes and controls. Ensures that processes are effective and efficient, and the organization follows applicable financial reporting standards and industry compliance requirements.
• Reviews and approves journal entries and journal entry log on a monthly basis. 
• Completes monthly GL reconciliations for the balance sheet accounts and review/sign off reconciliations.
• Responsible for company cash flow management including review and approval of payments to vendors, payroll, and monitor cash balances.
• Ensures management of collections including ensuring reserves are appropriately calculated and trued-up quarterly or as required. Escalates collections risks to CEO and works with claims team to ensure open items are being actively addressed.
• Responsible for oversight of government remittances, taxes and payroll controls and processes. 
• Leads the annual audit process and enables organization to maintain a clean audit opinion.
• Keeps abreast of changes to accounting standards and industry regulations, and ensures team is trained on timely basis for any relevant changes

Complete month-end closing and adjusting entries including: 

• Leads month-end close processes, ensuring attention to detail by team and delivery of accurate and timely results. 
• Maintains and communicates closing schedules for internal and external deliverables. 
• Prepares monthly investment, adjusting, fixed asset depreciation and lease adjusting entries. 
• Reconciles claims activities between the claims administration system and General Ledger. 
• Processes accruals and prepaid journals. 
• Delivers monthly financial statements to CEO and management on timely basis, with highlights of result variances to budget, prior year and forecast. Ensures investigation of variances and highlights risks and significant deviations from expectations.
  

Lead management reporting, forecasting and business planning

• In conjunction with the CEO, the Director of Finance is responsible for leading the annual financial planning process, ensuring the process is planned and completed prior to the beginning of the fiscal year. The budget will be compiled in a format that will be easily compared to quarterly and annual financial statements. Assumptions documentation and presentation of budget for Board approval is required.
• Compiles monthly financial statements compared to budget for the CEO. 
• Compiles quarterly report and annual report that includes financial statements with management discussion and analysis notes and a comparison to the approved budget for distribution to the Board of Directors. 
• Prepares and presents quarterly forecasts. 
• Compiles annual financial statements with full note disclosure in accordance with relevant accounting standards. 
• Completes annual financial statements for external auditors with an aim to have no adjustments required by auditors. 
• Presents of Key Performance Indicators on monthly basis for management reporting, and quarterly basis for the Board of Directors review.
• Directs forward expense planning and management including, planning for growth and replacement of capital expenditures. 
• Leads implementation and execution of investment strategy and advises on key changes or updates. 
• Analyzes actual expenses against benchmarks and communicate to senior management. 
• Compiles and analyze financial reporting packages. 
• Oversees development and refinement of business operational reporting, working in conjunction with business leadership and CEO.

Leads Accounting team Your key daily interactions will include: 

• Providing guidance and development planning through regular interactions with accounting manager and other members of the accounting team. 
• Coaching and developing the accounting manager to ensure effective management of indirect reports 
• Setting the bar as the leader, acting with integrity and using sound judgement. 
• Identifies training opportunities within the team and provides hands-on support or identifies external training resources to address the gap. 
• Ensuring accounting team organization setup is effective and forward plans resourcing to scale up and down. Considers use of technology and training to improve efficiency within team so that the organization minimizes/avoids headcount increases with growth.

Qualifications

You are an experienced, results-focused professional with empathy, intelligence, and drive. You bring: 

• An undergraduate degree in Business, Accounting or Finance from an accredited university; 
• An Accounting designation (CPA);
• 10+ years senior accounting or financial management experience (preferably within the property and casualty insurance industry); 
• Experience working with a Board and/or Finance & Audit Committee including financial presentation creation; 
• Demonstrated analytical, critical and strategic-thinking skills; 
• Experience in process development 
• Prior experience with budgeting, forecasting and business planning 
• Strong administrative, time management and organizational skills; 
• Collaborative mindset with focus on relationship management, establishing trust, using discretion and acting professionally, to maintain effective 
• Strong written and verbal communication; 
• Intermediate to Advanced MS Office skills (Outlook, Excel, Word, PowerPoint);
•  Experience as a key member of the leadership team; 
•  Knowledge of investments.
  

We are:

•  A niche company focused only on the CPA profession. 
• Experts in our field because it is all we do, and we have been doing it for over 30 years. 
• Driven by member value, its how we measure success. 
• On the brink of exciting change.

We offer:

• Competitive compensation 
• RSP matching 
• Wellness allowance 
• Vacation & non statutory holidays 
• Hybrid work 
• Competitive benefits d we will work with you to meet your needs. 

Required license or certification

CPA 

How to Apply

Please submit your resume and/or cover letter. Our General Manager will review your submission and contact you for an interview should your skills and experience match our job profile. After an online interview, references are completed and we'll send you a Contractor Agreement. After signing the contract, we meet with you online to discuss client engagements. At Flexserv, we engage skilled individuals regardless of race, religion, colour, national origin, sex, disability, age, sexual orientation, and other protected statuses in keeping with human rights legislation. We are a diverse mix of talented professionals who want to do their best work. We pride ourselves on bringing the best talent to work for our clients, and we know our company runs on the hard work and dedication of our passionate and dedicated staff. Please notify us anytime during the hiring process if you require accommodation and we will work with you to provide a suitable accommodation solution. 

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