Senior Financial Analyst (3-Month Contract)

OCS Ontario Cannabis Store; Toronto; Hybrid; CAD 71,000 - 107,000; Full time

Job summary

Join a forward-thinking organization as a Senior Financial Analyst, where you'll leverage your expertise in finance and accounting to drive efficiencies and enhance reporting processes. This role offers a unique opportunity to work within a dynamic team in the cannabis industry, collaborating with various departments to ensure accurate inventory management and compliance. You'll play a crucial role in financial analysis, reporting, and developing solutions for complex accounting challenges. Embrace the chance to contribute to an inclusive workplace that values diverse perspectives and fosters professional growth.

Qualifications

• 4+ years of experience in Finance and/or Accounting.
• Professional accounting designation required.

Responsibilities

• Prepare monthly inventory reconciliations and financial statement analysis.
• Lead vendor balance reconciliation process and resolve discrepancies.
• Ensure accurate and timely financial reporting.

Skills

Finance

Accounting

Analytical Skills

Communication Skills

Inventory Accounting

Microsoft Dynamics 365

MS Excel

Education

Post-secondary education in Finance or Accounting

Professional accounting designation (CPA, CA, CMA, CGA)

Tools

Microsoft Dynamics 365

MS Excel

Job description

About Us

The Ontario Cannabis Store provides safe, responsible access to recreational cannabis for adults 19 and older. We operate the sole legal online store for recreational cannabis in Ontario and are the provincial wholesaler of cannabis for private retail stores.

Working at the OCS is a unique opportunity to be part of an agile start-up in a ground-breaking new industry. We're a diverse team passionate about delivering a great customer experience, working together with mutual respect and building value out of our differences. We're an inclusive organization that understands that delivering great results comes out of ensuring every voice is heard.

About the Role

We're looking for a Senior Financial Analyst to join our team! The Senior Financial Analyst will provide specialized expertise in analysis, reporting and compliance to develop accounting systems and resolve financial problems, supporting the accounting function at the OCS by performing transaction processing and reporting activities related to inventory, licensed producers (LPs), vendor reconciliation and risk management.

The role will be responsible for executing day-to-day general ledger accounting, reconciliations, month-end reporting activities and financial analysis related to inventory. The Senior Financial Analyst will collaborate with cross functional teams including Finance, IT, Merchandizing and Supply Chain to ensure accurate and timely processing of inventory transactions.

About Your Day

• Identify areas for efficiency and recommend improvements within existing policies and procedures.
• Co-ordinate with the Finance team to prepare period-end reports.
• Assist with the update of weekly inventory reports and present results and updates to the Finance team.
• Prepare monthly inventory reconciliations, working papers, journal entries and financial statement analysis.
• Closely partner with the distribution centre (DC) and IT Application Services team to review the daily inventory snapshot, conduct variance analysis and resolve any variances in a timely manner.
• Monitor and validate DC Journals daily.
• Lead the monthly vendor balance reconciliation process and follow up with vendors to resolve any discrepancies.
• Lead the vendor AR recovery process, including sending follow up emails, preparing Demand Letters, referring vendors to the collection agency, and balance write-offs.
• Assist vendors with any queries.
• Review of trade agreements and validating Moving Average Costs daily.
• Prepare weekly CRA Chargebacks for vendors with active Requirement to Pay notices.
• Send weekly updates to various business stakeholders.
• Develop and implement solutions for complex inventory issues with the DC using robust inventory accounting processes.
• Partner with the Supply Chain team to oversee the inventory chargeback process.
• Liaise with Supply Chain, Retail, Merchandising and IT teams to improve efficiency of accounting and finance procedures.
• Develop inventory models to assist in analysis of cost of sales.
• Adjust Moving Average Cost (MAC) for purchase price drops and ensure price protection from vendor.
• Co-ordinate inventory transfers with the DC, Supply Chain, Merchandizing, and IT teams
• Co-ordinate month end inventory receipts with Supply Chain and the DC and check if period-end accruals are required.
• Support in the year-end physical count process and reconciliation.
• Prepare and provide any ad hoc information and/ or reports requested by Management.
• Ensure documentation for GL entries related to vendor payments is received on a timely basis.
• Work closely with the Supply Chain team to provide guidance with and validation of vendor chargeback lists.
• Prepare and verify accuracy of vendor chargebacks.
• Prepare monthly vendor chargeback reconciliation and ensure that the 3PL partner has adjusted physical inventory.
• Monitor PO creation and invoicing monthly.
• Identify LP vendor process gaps and recommend robust solutions.
• Partner with Treasury and Accounts Payable department for approval of LP vendor invoices.
• Review account statements and resolve variances or issues as required.
• Collaborate with Supply Chain, Treasury, Inventory teams, and LPs to improve the vendor AP processes for maximum efficiency.
• Lead highly complex accounting analysis.
• Ensure accurate and timely financial reporting.
• Create and maintain complex spreadsheets to be used as a source of data for weekly and monthly presentations to Management.
• Conduct monthly calculation and analysis of inventory KPIs including turns, days and average inventory to form part of the monthly finance presentation to Management.
• Extract critical financial information from Microsoft Dynamics 365 to help prepare complex financial spreadsheets.
• Prepare and update weekly vendor information and KPIs for presentation to Management.
• Enhance the control environment by establishing and reviewing effective accounting processes and systems.
• Ensure financial compliance with policies and procedures, audit and accounting disclosure requirements, and applicable legal rules and regulations.
• Support with the year-end external financial audit of the OCS accounting systems and records.
• Assist with the extraction of documents and reports from Microsoft Dynamics 365 as part of audit requests from the external auditors.
• Support with internal controls audits with the OCS Internal Audit team.
• Prepare any requested working papers and process year-end journal entries.
• Accommodate audit requests with expediency and priority, including but not limited to requests made in support of the annual financial audit performed by the Office of the Auditor General of Ontario.
• Prepare monthly HST Remittance Reports.
• Reconcile monthly HST Remittance Report and submit to Manager-Finance & CFO for final approval.
• Submit approved HST Remittance Report to Senior Financial Analyst responsible for Treasury for filing with the Canada Revenue Agency (CRA).
• May prepare additional tax documentation as required.

About You

• Post-secondary education in Finance, Accounting, or related field.
• 4+ years of experience in Finance and/or Accounting
• Professional accounting designation (CPA, CA, CMA, CGA)
• Experience in inventory accounting, Microsoft Dynamics is preferred
• Excellent accounting knowledge, finance, and analytical skills
• Strong written and verbal communication skills
• Advanced knowledge of MS Excel
• Sound knowledge of management accounting principles and financial accounting principles (IFRS - existing and future requirements)
• High level of integrity and be trustworthy
• Ability to work collaboratively and individually
• Ability to multi-task effectively in a fast-paced environment

About the Job

• This position currently offers a hybrid work schedule. The current in office requirement is a minimum of 3 days/week (may be more depending on business needs). The OCS office is located near York Mills and Yonge Street. However, OCS reserves the right to change this policy and its office location at any time.
• City: Toronto, ON
• Employment Type: 3-Month Fixed-Term Contact, Full-Time (with possibility of extension)
• Required Travel: Rare, usually within the GTA

Compensation

The target hiring range for this position is $81,000-$91,000. This is a pay grade 6 role, with a salary range of $ 71,066.63 - $ 106,316.64. Placement in the salary range will be based on factors such as market conditions, internal equity, and candidate experience, skills, and qualifications relevant to the role.

We are committed to providing an accessible, equitable and inclusive candidate and employee experience. We provide reasonable accommodation throughout the recruitment process and in employment. If you require an accommodation please let us know, we will work with you to meet your needs.