Finance Manager

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Last update: Nov 24, 2022 Last update: Nov 24, 2022


Deadline: Dec 17, 2022
Location: Canada Canada
Organization: Friends of Ruby
Sectors: Finance & Accounting Finance & Accounting
Job type: Contract, 12 months +
English English
Work experience: From 3 years
Date posted: Nov 24, 2022


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Friends of Ruby is dedicated to the journey and well-being of 2SLGBTQIA+ youth through a unique combination of integrated and tailored services in mental health, social support, and housing. We are committed to creating welcoming and safer spaces uniquely designed to help build community, emotional well-being, and confidence. 

We distinguish ourselves by delivering an integrated transitional housing model to support youth towards independent living, impactful counselling modalities and therapeutical groups, social activities and practical supports that address multiple aspects of a youth’s life (e.g., health, education, employment). 

Our services and programs are informed by 2SLGBTQIA+ youth, grounded in evidence and research, and led and facilitated by 2SLGBTQIA+ individuals. Our staff reflects the diversity of the youth we serve and are skilled in supporting youth towards independence and well-being. Ultimately, we want to help create a Canada where all 2SLGBTQIA+ youth are validated, included, and empowered to lead healthier lives. 

Position Summary 

Reporting to the Director of Finance and Business Operations, this position’s primary responsibility is ensuring organizational effectiveness in the financial and accounting functions. 

The Finance Manager will manage the organization’s finance function creating organizational program budgets in collaboration with the Director of Finance and Business Operations and the key members of the Leadership team. This role will be responsible for the full cycle of accounting, budgets performance, forecasts, and reports on a monthly, quarterly and annual basis.  

This position has a strong focus on financial analysis and insights, business modelling to support decision making and analysis of actuals against funds to identify gaps and opportunities including variance analysis, trend analysis and short-term forecasting (1-2 years). 

Duties and responsibilities 

Day-to-Day Accounting

Responsible for all day-to-day accounting functions including AP (invoices, expense reports, credit cards) and revenue (donations, house rentals, other events)
Manage the banking relationship and requirements for the organization; Make all bank deposits including donations, housing rentals, petty cash, cheques deposits.
Reconcile accurate and timely bi-weekly payroll runs for all employees and prepare payroll journal entries
Assist the Director of Finance with the administration of the group benefits and pension programs and reconcile the benefits expenses on monthly basis
Maintain detailed payroll records as required including for audit purposes, in accordance with statutory requirements, collaborating with HR and other teams to ensure records are accurate and up to date
Oversee the payroll-related compliance items including T4s, WSIB and EHT returns
Reconcile P&L and GLs on monthly basis and make sure all allocations reflect the approved budget
Manage, coach and mentor the finance and accounting team.

Financial Performance & Budgeting 

Establish the budget performance expected from each functional group, supporting each leader with the information and analysis they need in order to run their departments budget
Coordinate the preparation of consolidated annual budgets and periodic forecasts.
Lead the monthly, quarterly and budget forecast processes in conjunction with the Director of Finance and Business Operations and the Leadership team by assisting in inputting forecasts, completing driver analysis, reconciling consolidation roll-up procedures and streamlining existing processes
Support the annual audit of financial statements through preparing the year-end supporting package and providing the auditors with all requested support and analyses
Responsible for working with outsourced financial services on all matters related to accounting and payroll
Oversee financial risk assessment and analysis, ensuring proper insurance, financial policies and procedures, annual audits, and budget management processes are in place, including the budget planning cycle, record keeping and remittances
Provide financial analysis that informs strategic decision making for existing and proposed areas of business, for guiding investment decisions, and developing finance strategies
Support the Director of Finance and Business Operations in preparing the material to the Finance Committee of the Board of Directors and deliver comprehensive financial statements, budget performance reports and forecasts to be presented to the Finance Committee.

Compliance and Analysis 

Lead the month-end process to ensure actual results are supported and captured correctly; identify and explain any variances to forecast
Develop and maintain processes to ensure forecasts are accurately reflected and create summary management reporting to distribute and inform key stakeholders
Create adhoc financial analysis for key stakeholders to deliver recommendations and resulting action items for the organization including variance and trending analysis.
Underwrite financial information in connection with the prospective purchase of new properties.
Keep complete records of acquisition documents (legal, due diligence material, lender documents etc.)
Ensure compliance with Canadian accounting standards for not-for-profit organizations, CRA guidelines for charities and all other applicable regulations
Evaluate financial performance by comparing and analyzing actual results with plans and forecast
Support the Director of Finance and Business Operations in writing the finance, accounting and compliance policies and procedures
Oversee all government submissions including T3010, HST, wage subsidies, payroll remittances and other required filings
Financial processing, petty cash management, accounts payables for monthly reconciliation, reporting and audits, keeping track and filing of invoices and allocating expenses accordingly in the system.

Required Experience 

Degree in Finance or Accounting/Business Administration
Minimum of three years’ experience managing and leading a Finance team
Not-For-Profit experience is preferred
Professional accounting designation (CA/CPA) considered an asset
Knowledge of Generally Accepted Accounting Principles (GAAP) for Not-for-Profit organizations and CRA legislation
Understanding of charitable sector governance policies and procedures
Proficiency in Microsoft environment (365, Excel, SharePoint, Teams etc.)
Proficiency in accounting and bookkeeping software (QuickBooks; Sage etc.)

Additional Requirements 

Satisfactory clearance under the Vulnerable Sector Police Check Program 
Must be qualified to legally work in Canada 
Willing to work onsite at our location in downtown Toronto 
Willing to work on a flexible schedule to accommodate the needs of the organization, working evenings on occasions 

Ability to travel to other community-based settings as needed 

COVID-19 Protocols 

Friends of Ruby believes that immunization against COVID-19 is an individual and societal responsibility and that we must do everything possible to protect our clients, families, employees, students, volunteers and contractors against the spread of COVID-19. As a condition of employment, proof of full vaccination or exemption under the Ontario Human Rights Code must be submitted to Human Resources seven (7) calendar days prior to start date.