A financial consultancy in Metro Vancouver is looking for a skilled professional specializing in corporate insolvency. Responsibilities include conducting detailed reviews of clients' financial records, preparing reports, and ensuring compliance with Canadian insolvency legislation. Candidates should possess a Bachelor’s degree in Accounting, a CPA designation, and at least 2 years of relevant experience. This role requires strong interpersonal and communication skills, along with the ability to mentor junior team members.
Qualifications
Minimum of 2 years of experience in corporate insolvency proceedings.
Completion of or current pursuit of the Licensed Insolvency Trustee (LIT) designation.
In-depth understanding of the Bankruptcy and Insolvency Act.
Responsibilities
Conduct thorough reviews of clients' accounting records.
Develop estimated realization schedules for strategic advice.
Analyze implications of insolvency options on stakeholders.
Assume control of assets related to corporate insolvency.
Prepare and monitor cash flow forecasts in NOI phase.
Maintain knowledge of Canadian insolvency legislation.
Conduct investigations into financial operations of corporations.
Act as intermediary focusing on maximizing recovery.
Organize meetings with creditors to navigate insolvency process.
Assist in acquisition and liquidation of assets.
Skills
Accounting
Communication
Interpersonal skills
Education
Bachelor’s degree in Accounting
Chartered Professional Accountant (CPA) designation
Job description
The Role
Conduct thorough reviews of clients' accounting records who are experiencing financial distress to evaluate their asset and liability positions.
Develop estimated realization schedules to provide strategic advice on suitable insolvency or restructuring pathways.
Analyze the implications of varying insolvency options on stakeholders, including creditors and employees.
Prepare and disseminate comprehensive reports detailing a corporation’s financial status to all relevant stakeholders.
Assume physical and legal control of assets, undertakings, and properties in relation to corporate insolvency proceedings.
Prepare and monitor cash flow forecasts for clients in the Notice of Intention to File a Proposal (NOI) phase under the Bankruptcy and Insolvency Act.
Maintain current knowledge of Canadian insolvency legislation, notably the Bankruptcy and Insolvency Act (BIA), ensuring compliance with all procedural and regulatory standards.
Conduct detailed investigations into the financial operations of corporations, identifying potential fraudulent transactions or preferential transfers.
Act as an impartial intermediary, focusing on maximizing recovery for creditors while ensuring equitable treatment of all stakeholders through the insolvency process.
Organize and facilitate meetings with creditors to navigate the insolvency process, address disputes, and provide updates regarding the debtor's financial condition.
Assist in the acquisition and liquidation of assets, managing the distribution of proceeds to creditors in accordance with legal priorities, and collaborate with the Trustee to oversee the restructuring or liquidation process.
Aid in the completion of the closing, taxation, and discharge procedures for concluded insolvency estate administrations.
Communicate with the Office of the Superintendent of Bankruptcy as necessary.
Support the preparation and submission of corporate tax returns.
Mentor and train junior team members in the intricacies of insolvency proceedings.
Engage in a variety of marketing and networking initiatives to promote services.
Qualifications
Bachelor’s degree in Accounting.
Chartered Professional Accountant (CPA) designation or an equivalent credential.
Minimum of 2 years of experience in corporate insolvency proceedings.
Completion of or current pursuit of the Licensed Insolvency Trustee (LIT) designation.
In-depth understanding of the Bankruptcy and Insolvency Act.
Outstanding interpersonal and communication abilities, with proficiency in technical writing and verbal communication, complemented by a strong work ethic.