Director, Finance

PenFinancial Credit Union; Welland; On-site; CAD 125,000 - 150,000; Full time

Job summary

A community-focused financial institution in the Niagara Region is seeking a Finance Leader to oversee its operations. The ideal candidate will lead the Finance team, produce detailed financial reports, and have a proven track record of accounting leadership with a CPA designation. This role offers a chance to contribute to community well-being through finance, with a competitive salary and benefits package.

Benefits

Generous benefits package

Defined contribution pension plan

Performance-based success sharing

Wellness days

Allowances for education

Qualifications

• 10+ years of accounting experience in a leadership role.
• Demonstrated success in financial reporting in a time-sensitive environment.
• Strong understanding of accounting procedures.

Responsibilities

• Lead and support the Finance team to drive engagement and performance.
• Produce accurate internal and external financial reports.
• Conduct annual budget creation and forecasting processes.

Skills

Leadership

Financial Reporting

Accounting Procedures

Budgeting

Education

University degree in business/finance

Chartered Professional Accountant (CPA)

Job description

Company Description

Be a part of something different. We may offer the same products and services as a big bank, but we couldn’t be more different. We’re rooted in purpose and we’re on a mission to improve lives and strengthen communities. We support nearly 20,000 members and businesses digitally, over the telephone, and in-person across a network of six branches across Niagara and Haldimand.

At PenFinancial, our people are our greatest asset and our values speak for themselves: accountability, inclusivity, integrity, and respect. More than a poster on the wall, our values guide everything we do. They’re values we live every single day – where everyone has a voice and where we listen. Just ask someone who works here to see what they think, and check out our latest annual report to see what we’ve been up to.

We provide all of our employees with a generous benefits package that includes a Living Wage salary, defined contribution pension plan and performance-based success sharing. Combine that with our commitment to contributing to the wellbeing of our employees through competitive benefits programs, wellness days and allowances for education, and it’s no surprise that our employee engagement scores are consistently so strong.

Our Commitment to Community We live our brand from the inside out, and our Truly Local Commitment starts with our employees. We support an inclusive, diverse, and caring internal culture. We encourage our employees to give back to the causes that are meaningful to them and their families by providing opportunities to volunteer and represent our truly local credit union through our Truly Local Ambassador program. And, we also commit to investing a portion of our profits directly back into our local communities. We are a proud Certified B Corporation committed to doing business for good, and we choose 100% renewable energy with Bullfrog Power to support environmental sustainability.

Job Description

Leads the operations of the finance and accounting functions for the Credit Union by designing, developing and/or administering all reports and systems necessary to maintain control of all accounting and audit functions. Completes or leads some treasury transactional operations including borrowing and foreign exchange transactions.

Differentiating Accountabilities

Leadership Responsibilities

• Directly lead, coach and support the members of the Finance team.
• Proactively coach to support the personal growth and development of direct reports including coaching and performance management, career planning and develop a highly engaged, diverse and capable team to execute departmental plans/strategies and build strong relationships with others/members.

External Financial Reporting

• Requires demonstrated success in producing highly accurate reports in a time-sensitive environment.
• Review and oversee timely and accurate monthly and annual reporting to FSRA including completion of EDC reports, investments, derivatives, deposits and borrowings.
• Responsible for completion of various federal government reporting requirements including but not limited to the annual HST returns.
• Responsible for completion of input files for ALM reporting package to provider, Picuz Solutions.
• Supports the completion of the annual external audit as required, including the preparation of notes to the audited Financial Statements.

Internal Financial Reporting

• Responsible for completion of a wide variety of financial reports for the Board of Directors including but not limited to the capital risk report, structural risk report, liquidity risk report and investment report.
• Responsible for design, completion and distribution of the monthly internal financial reporting materials for cost center leaders such as retail branch managers. Requires experience summarizing and communicating complex financial information in a meaningful way.
• Supports the completion of various internal audits as required.

Securitization

• Reviews and oversee accurate monthly securitization reporting.
• Leads the process of creating new securitized pools as required by compiling key data points and completing time sensitive document execution.

Accounting and Payroll Administration

• Reviews monthly bank reconciliations, as well as other reconciliations, ensuring investigations are complete.
• Reviews weekly accounts payable and employee expenses.
• Reviews and approves journal vouchers.
• Responds to requests to overrides for large or unusual transactions. Requires professional judgment and a strong understanding of Credit Union transactions and control environment.
• Co‑ordinates requests‑for‑proposals for various services used by the Credit Union including ensuring user needs are clearly communicated in the relevant documents, serving as primary liaison with prospective vendors and guiding stakeholders through the evaluation of proposals and selection of provider. Requires the ability to communicate in writing and verbally with a wide variety of stakeholders.
• Develops and implements changes to accounting procedures as needed.
• Reviews bi‑weekly payroll batches and approves changes.
• Serves as back‑up for payroll and accounts payable function.
• Leads completion of the monthly IFRS 9 analysis and reporting.
• Responsible for completing early term deposit redemption requests.
• Cover CAFT change approvals when short staffed.
• Review and approve wires when necessary.
• Performs other accounting tasks as required.

Planning and Budgeting

• Leads annual operating budget creation process including liaising with budget developers across the organization and use of financial institution budgeting software. Requires the ability to quickly learn complex software and the application of professional judgement in evaluating the appropriateness of budgeting assumptions. Completing an annual budget and quarterly Net Interest Margin reviews.
• Leads the Asset‑Liability Committee (ALCO) meetings and completes monthly minutes.
• Serves as a member of the Enterprise Risk Management Committee (ERMCO) and Credit Committee.
• Assists in the 3‑year forecast process for ICAAP and strategic planning.
• Takes the lead on new accounting standards implementation and education.

Treasury Transactional

• Monitors daily current account balances and will borrow against or paydown the line of credit as needed.
• Approves counterparty foreign exchange transactions to ensure foreign exchange exposure remains within management limits.
• Perform other assigned responsibilities.

Qualifications

• University degree or equivalent experience in a business/finance environment
• Chartered Professional Accountant (CPA Designation)
• 10+ years of accounting experience in a leadership role

Salary will be determined based on skills, experience, education and other qualifications relevant to this position.

Additional Information

To learn more visit https://www.penfinancial.com/careers

While we welcome all applications, only those who are selected for an interview will be contacted.

Accessibility accommodations will be made for job candidates upon request.