Corporate Resources Financial Specialist

Department: Corporate Resources

Position Overview

The Corporate Resources Financial Specialist is responsible for managing the financial health of the organization, ensuring compliance, optimizing processes, and providing strategic financial insights. This role oversees accounting functions, financial reporting, budgeting, and risk management while supporting business growth. The Corporate Resources Financial Specialist leads the Corporate Resources Team and is the primary point of contact for external auditors, tax advisors, and financial institutions.

Key Responsibilities

Financial Management & Accounting

• Oversee manage an accurate and complete set of financial books for the Company and any of its related entities.
• financial activities, including Accounts Receivable (AR), Accounts Payable (AP), and Profit & Loss (P&L) and Balance Sheets.
• Prepare and distribute monthly financial reports to senior leadership.
• Act as the primary contact for financial inquiries, including payroll, government remittances, taxes, and WSIB.
• Lead costing analysis, evaluating shop rates, product margins, and profitability reports to improve profitability provide strategic insights to leadership.
• Calculate and administer Ownership Thinking, incentives, Commissions, Leadership Plans, and Growth Bonuses.
• Ensure compliance with year-end financial procedures and maintain adherence to online payment protocols.
• Analyze financial statements to identify trends, risks, and opportunities for improvement.
• Oversee business insurance management, ensuring adequate coverage and compliance.
• Manage general administrative duties related to financial operations.
• Reconcile bank accounts monthly.
• Monitor and report cash flow, providing weekly updates to leadership.
• Issue invoices to customers and reconcile customer accounts including deposits and VIK arrangements accordingly
• Ensure accounts receivables policies and procedures are and kept current and follow up with customers on outstanding invoices.
• Appropriately filed and stored source documents including but not limited to bills, receipts, statements and other types of source documents
• Actively monitor the accounting email and respond to any necessary correspondence.
• Perform bank and CC (Credit Cards) reconciliation at end of each month to ensure financial statements properly reflect bank and CC activities
• Prepare overseas payments and work with wires etc.
• Calculated filed, and remitted any sales tax that is owed in filed period (e.g. HST, GST etc. )
• Complete the month -end process, including GL and balance sheet reconciliation. Perform regular bank reconciliation to ensure transactions are recorded accurately in the financial records. Identify and resolve discrepancies between the bank statements and the general ledger.

Payroll Management

Ensuring payroll deductions are accurate and remitted to CRA on time, as well ensuring applicable filings (e.g. T4, T4A, ROE’s etc.) are performed accurately and on time

Back up to process bi-weekly payroll for hourly and salaried employees, ensuring accuracy and compliance.

Audits from time to time to ensure compliance with payroll tax regulations, government remittances, and employment standards.

Address payroll-related inquiries from employees and management.

Maintain payroll records and documentation by company policies and regulatory requirements.

Financial Planning & Strategy

• Develop and update financial policies and procedures to support company growth and efficiency.
• Assist in the preparation of annual budgets and quarterly forecasts, providing variance analysis and corrective action recommendations.
• Collaborate with leadership on long-term financial strategies, identifying opportunities for cost optimization and improved profitability.
• Provide financial insights and recommendations to support strategic decision-making.
• Oversee the implementation and maintenance of financial software and accounting systems, ensuring accuracy and efficiency.
• Identify and mitigate financial risks, including monitoring debt levels and preparing for market fluctuations (e.g., USD currency risks).
• Frequently monitor cash flow and advise management as to liquidity of the company

Leadership & Mentorship

• Mentor and train other team members on best practices, systems, and processes.
• Manage the AR/AP specialist's workload, ensuring efficient task execution.
• Ensure cross-training within the department to maintain operational continuity.
• Train employees to handle critical financial responsibilities during time off.