Financial Analyst

Monex Europa S.L; Toronto; On-site; CAD 65,000 - 85,000; Full time

Job summary

A leading global financial solutions provider is seeking a financial analyst based in Toronto. The role involves supporting revenue operations through budget preparation, financial analysis, and reporting. The ideal candidate will have a strong accounting background, experience in budgeting and forecasting, and knowledge of financial regulations in Canada. Join a dynamic team dedicated to empowering businesses and ensuring comprehensive financial operations.

Benefits

Health and Wellness programs

Professional development opportunities

Qualifications

• Proven experience in budgeting and forecasting.
• Strong understanding of financial regulations in Canada.
• Experience in a regulated investment firm is desirable.

Responsibilities

• Support the Head of Revenue Operations in budgeting and forecasting.
• Analyze company performance and inform on trends.
• Prepare monthly management accounts and financial reports.

Skills

Analytical skills

Problem-solving capability

Financial Regulations Knowledge

Accounting background

Education

Degree in Finance or Accounting

Tools

Power BI

Job description

Monex is a leading global financial solutions provider, offering a complete set of tools to support business growth and strategic financial operations.

Monex Canada is a rapidly expanding premier financial services firm specializing in foreign exchange and international payment solutions. We are dedicated to empowering Canadian businesses by offering competitive exchange rates, strategic risk management, and personalized service.

Our team is committed to excellence, leveraging deep market insights and innovative technology to help our clients navigate the complexities of the global FX market.

Department Overview:

Finance departments need to constantly monitor the effectiveness of their activities and respond to any problems identify.

The need for financial departments to constantly adapt to their unique circumstances, which may include taking on additional responsibilities or relinquishing existing ones.

Bookkeeping is the most basic financial activity in a company. Before a business owner ever considers hiring a CFO, they bring in a bookkeeper, who tracks all of the transactions in the organization, covering both sales and expenses. As the organization grows, they might hire more specialized payables and receivables clerks, to take over functions such as corresponding with vendors and suppliers, above and beyond recording transactions.

Financial Reporting and Control

Financial Reporting and Control is the function that takes raw accounting entries and transforms them into usable and comparable financial statements. Requiring far more judgment than the bookkeeper’s role, this function involves everything from ruling on how to implement accounting principles to designing financial processes of the organization, selecting accounting systems, liaising with external auditors, and ensuring that there are no gaps or oversights in existing processes. Reporting to the Head Quarter Board meeting presentations.

Tax and Compliance

Running a business involves paying tax and paying tax means doing a lot of calculations and filling out a lot of forms. Often using the financial statements as a basis, along with various other configurations of the information produced by Bookkeeping and Payables/Receivables, the Tax and Compliance function will make sure all of the government forms and filings are sent complete and on-time to the taxman. A strong Tax and Compliance function will go one step beyond simple compliance, and will find ways to minimize tax, so as to maximize the company’s net income.

Strategic Planning and Financial Planning & Analysis

This function, “FP&A” for short, is the true bridge between the Past and the Future. FP&A regularly creates strategic and financial plans that forecast what financial results (sales and expenses) will look like in future periods. Then, they compare actual results—prepared with the assistance of the Financial Reporting and Control function—to determine areas where the business can improve. With this “variance analysis” complete, they can then prepare more accurate forecasts for the future. A strong FP&A function will not only generate annual forecasts but will be able to update them even over the course of a day or two, and to run many scenarios that examine the effects of, say, losing a big customer or an economic contraction.

Budgeting and Forecasting

This function is to develop an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis.

Job Overview:

To support the Head of Revenue Operations, BI and Analytics in the preparation and analysis of MCI and Group budgets, forecasts, analysis and all related FP&A activities.

To analyze company performance, inform on future trends and assist in modeling future business activities.

To support the preparation of monthly management accounts, reports and analysis.

Key Responsibilities & Accountabilities:

Budget

• Support the Head of Revenue Operations, BI and Analytics with the preparation of budgets and forecasting.
• Work closely with the Head of Revenue Operations, BI and Analytics and CEO to develop the annual operating budget and models to be used to forecast revenue projections and operating expenditures.
• Coordinate the annual capital expenditures plan process and track actual and forecasted capital spend on current/future projects.
• Assist in the preparation of the annual budget for the overseas subsidiaries.
• Analyse and reconcile budget data, review and reconcile final budget output with original input data.
• Prepare all input data needed to generate site-based budget allotments and assist in calculation of levelling adjustments.
• Analyse financial reports and reporting on changes in budget variance.
• Maintain the integrity of budget documentation.
• Summarise reporting packages for submission to the Head Quarters as and when needed.
• Prepare and report on the Monthly Profit and Loss, Balance Sheet and Cashflow.
• Prepare the transfer pricing support files. · Assist with the preparation of management accounts.
• Prepare the Monthly management financial package including generating, accumulating and verifying (and reconciling, if necessary) the relevant reports.
• Problem solving as needed to either validate or reconcile financial reports from the operating system to financial statements.
• Respond to financial data/information requests from other managers/departments within the company or from the Head Quarters
• Assist in trending key performance metrics on a monthly basis and report to management
• Ad-hoc reporting as and when requested.
• Maintain files/records of data to assist company in gauging its effectiveness and complete business and operational analysis.
• Understand the data architecture and take ownership of creating and automating reports through Power BI
• Help unlock overlooked trends in operational and sales data and provide insights to help drive revenue efficiency

General

• Other tasks as and when required to support the Head of Revenue Operations, BI and Analytics
• Maintain up to date knowledge of financial and Company procedures
• Seek guidance or support as and when needed

Business Knowledge / Technical Skills:

• Previous experience of working within a regulated investment firm is desirable
• Some demonstrable working within a similar role within a commercial environment
• Strong accounting, finance and book-keeping background
• Understanding of key accounting concepts and reporting requirements within
• Canada and across Monex regions.
• Good demonstrable knowledge of Canada financial Regulations etc
• Some awareness of financial regulations, compliance and risk management within assigned country/region
• Some knowledge of the regulatory environment in which an FX firm operates
• Able to demonstrate a clear understanding of the purpose of risk management and compliance within a regulated environment
• Knowledge of treasury is an advantage
• Ability to analyze complicated data
• Problem-solving capability
• Ability to collate information
• Some prior experience in budgeting and forecasting is a plus

If you like wild growth and working with happy, enthusiastic over-achievers, you'll enjoy your career with us

At Monex, we do our very best every day to ensure that we take good care of our people, as our biggest asset is our highly driven and focused Talent Culture.

We strive to continuously enable our people to develop their full potential by offering the necessary tools and support to empower our people to develop professionally and to take the next step in their career here at Monex.

Teamwork is a paramount part of our Talent Culture as we achieve more when we collaborate and all work together. We take pride in our familial culture with colleagues who are willing to go the extra mile for one another.

We foster a culture of Health and Wellness, encouraging our colleagues to pursue healthy habits and promoting healthy lifestyles.