Accounts Payable Specialist

Building Ontario Fund; Toronto; On-site; CAD 60,000 - 80,000; Full time

Job summary

A public sector financial agency in Toronto is seeking an experienced Accounts Payable Specialist to manage full-cycle accounts payable processes, ensure timely payments, and maintain vendor relationships. The ideal candidate will have a Bachelor’s degree in accounting and at least 5 years of relevant experience. You will participate in ERP system migration and ensure compliance with financial regulations. This role offers competitive compensation and the opportunity to contribute to significant public infrastructure projects.

Qualifications

• 5 years of experience in full cycle accounts payable or a similar role.
• Experience with ERP systems implementation is an asset.
• Experience in government/public sector space is an asset.

Responsibilities

• Lead full-cycle accounts payable processes from transaction entry to audit-ready documentation.
• Process payments to vendors and investment partners efficiently.
• Reconcile vendor statements with financial records.

Skills

Knowledge of accounting principles

Strong interpersonal skills

Proficient in Microsoft Office Suite, particularly Excel

Problem-solving skills

Education

Bachelor’s degree in accounting or related field

Tools

ERP systems

Job description

The Opportunity

Headquartered in Toronto, the Building Ontario Fund (BOF) is a new independent, board-governed agency that will facilitate investment by trusted institutional investors in critically needed large-scale infrastructure projects within the province.

The agency’s mandate is to invest in, and seek to attract investment from, qualified institutional investors, public sector entities, governments, and Indigenous communities in Ontario infrastructure projects that will generate revenue and are in the public’s interest. BOF will do this by:

• Investing in infrastructure and appropriately allocating risks amongst the Corporation and other investors
• Structuring proposals and negotiating agreements with investors in infrastructure projects
• Receiving and assessing unsolicited ideas and proposals for infrastructure
• Providing advisory services with respect to financing infrastructure projects

Reporting to the Senior Manager, Financial Services, the Accounts Payable Specialist will:

• Lead full-cycle accounts payable processes, from transaction entry to final audit-ready documentation and payment process. This includes receipt, verification, and processing of invoices, ensuring they are accurately coded, matched with purchase orders (if any), and properly approved in accordance with BOF delegation of authority policy. verifying the details against the purchase order and entering the information into the Enterprise Resource Planning (ERP) system.
• Process payments to vendors and investment partners through various methods like cheques, electronic transfers, or other payment platforms to ensure efficient and timely payment.
• Reconciles vendor statements with the financial records, identifying and resolving discrepancies, and maintaining accurate records.
• Liaises with vendors regarding payment inquiries, resolving issues, for example, verifying payment terms or resolving billing issues, while maintaining positive relationships.
• Manage and process employees’ travel, meal, hospitality and other reimbursements ensuring compliance with relevant Ministry directives
• Establish and maintain organized and accurate accounts payable records, ensuring compliance with BOF financial and record-keeping policies and procedures and easy retrieval of financial information as needed.
• Assist with month-end and year-end closing activities, including accruals and reporting, preparing accruals for outstanding invoices and ensuring all transactions are recorded accurately.
• Assist in migration from Quick Books Online to new ERP platform, including testing the new system’s accounts payable and cash approval workflows and providing feedback as needed.
• Ensure compliance with relevant regulations, such as tax requirements and internal controls by reviewing transactions to ensure compliance with tax regulations and BOF policies.
• Provide support to the accounting team by participating in audits and contributing to the development and implementation of internal control processes and related process improvements, providing necessary documentation and suggesting improvements to the accounts payable process.

Qualifications

Education and Experience

• Bachelor’s degree in accounting, finance, business administration or related field.
• 5 years of experience in full cycle accounts payable or a similar role.
• Experience with ERP systems implementation is an asset.
• Experience in government/public sector space is an asset

Knowledge and Skills

• Knowledge of accounting principles, methods and practices, with an emphasis on accounts payable processes, best practices, related regulations and tax legislation to oversee the accounts payable function and supports general accounting activities.
• Knowledge of accounting software and ERP systems to maintain accurate financial records, process financial transaction efficiently and ensure compliance with legislation/regulations.
• Strong interpersonal and communication skills to effectively liaise with and manage vendor relationships and provide exceptional customer service across all organizational levels.
• Problem-solving skills and a proactive approach to tasks to ensure the maintenance of accurate financial records, identify and resolve discrepancies using judgement to ensure processes comply with regulations/legislation.
• Collaboration and teamwork skills to work effectively as a member of a team.
• Organizational and time management skills to work independently and manage own work priorities to meet deadlines.
• Strong attention to detail and accuracy.
• Proficiency in Microsoft Office Suite, particularly Excel.

Application

• To apply for this position, please email your resume to Linkedin. We thank you for your interest in the Building Ontario Fund. Applicant selection is based on, but not limited to technical competence, in-depth experience in relevant sectors and educational background. Accommodations are available upon request for candidates with a disability taking part of the recruitment process.
• At Building Ontario Fund, we are committed to diversity, transparency and inclusion. We believe our strength comes from having a team with the right diverse skills and abilities selected through a merit-based competitive process. We actively encourage applications from people regardless of nationality, religion gender, race, disability or sexual orientation.