Our client is a growing, entrepreneurial construction company adding a senior leadership role to their team. The Director of Finance will oversee the corporate financial landscape and will provide operational and strategic support to the organization through strong leadership and control of the finance department.
The Director of Finance is responsible for managing the company’s financial assets, developing, and implementing budgetary and fiscal plans, and ensuring financial assets are managed to enable strategic and operational initiatives while mitigating financial risks. In addition, the Director of Finance is responsible for ensuring that the finance organization operates efficiently with timely and reliable execution of accounting activities, accurate project profitability and cost information and ongoing management reporting.
The Director of Finance reports directly to the Chief Executive Officer (CEO) of the company and will be:
– The primary leader for financial activities with all corresponding responsibilities and authority.
– An influencer related to strategic planning.
– Assist with high-level decisions on policy and strategy
- This position’s primary tasks will be planning, budgeting, managing, reporting, compliance, and timely execution of all finance activities of the company to ensure long term financial health and sustainability.
- This role will undertake overarching financial activities to identify and evaluate new and innovative ways to reduce costs and improve returns on investments and assets.
- This role will be supported to reach these goals by working collaboratively with their Syber Concrete Forming Ltd. peers in Operations via the Director of Operations and ownership. ownership.
- This collaborative approach to corporate reporting will insure there is openness and transparency throughout the organization and the CEO will receive comprehensive business updates to better aid in fiscal planning, relationship management and to support strategic initiatives.
- Support the CEO by collaborating with the Director of Operations, to develop, monitor and report on financial company performance against targets, to ensure company-wide accountability so that Syber Concrete Forming Ltd.’s will achieve and exceed is yearly expectations
- Create awareness with understanding long-term financing strategy with senior leadership and increase financial acumen of Department managers and supervisors
- Establish and oversee corporate financial management, administration and human resources policies, processes, procedures, systems, and practices, overseeing the Finance and Human Resources Teams
- Establish and execute performance management for finance staff including recognition, rewards, disciplinary actions, and development opportunities
- Protect and preserve the company’s assets
- Submit all regulated and legislative reporting and documents
- Provide strategic recommendations based on the companies’ fiscal reality to the CEO/president and members of the executive management team
- Identify potential fiscal risks related to strategic planning and develop mitigation strategies
- Deliver financial reports to the CEO and Director of Operations setting out financial metrics that measure the organization’s progress towards established strategic goals and initiatives
- Establish and implement a process for corporate budgeting, purchasing, payment administration, variance analysis, performance measurement and reporting, pricing, and billing.
- Financial Planning, Reporting and Control
- Oversee the company’s fiscal activity, including planning, budgeting, reporting, accounting and internal controls
- Develop short- and long-term financial plans in alignment with Syber’s strategic plan operational departmental budgets
- 12-month operating budget and cash flow plan capital budgets, financing (including working capital) requirements.
- Interact with team members to provide consultative support to planning initiatives through financial and management information analyses, reports, and recommendations
- Prepare timely and accurate analysis, summaries, and financial reports on the company’s progress; evaluate how the company’s financial activities are adhering to yearly strategic plans; and promote an accountability framework throughout the organization
- Review and analyze financial reports to guide business leaders and identify opportunities to reduce costs
- Ensure decisions are financially responsible, accountable, justifiable, and defensible.
- Financial function oversight and controls
- Ensure records and systems are accurate, timely and maintained in accordance with generally accepted accounting principles
- Oversee the timely and efficient preparation of project invoices, sales receipts and statements for clients, review and authorization of payments to vendors, collection of accounts receivable, collection and review of operational data for management reporting
- Ensure cash management is optimized and resources are spent in accordance with senior executive guidance
- Oversee the timely reconciliation of bank deposits and customer account relief, bank and credit card accounts, reconciliation of balance sheet accounts
- Establish efficient month-end practices to expedite monthly management reporting
- Develop and communicate accounting and financial management policies/processes, internal controls and, delegation of authority guidelines and ensure compliance with these policies and controls
- Support the development, implementation, and maintenance of all formal finance-related procedures.
Payroll, Benefits and Pension Administration:
- Review and sign off payroll to ensure accuracy and oversee disbursement to employees
- Oversee the approval and processing of salary updates and enrollment of new employees
- Timely remittance of payroll deductions.
- Prepares and reconciles monthly, quarterly and annual Government, EHT, and WSIB reports and remittances (CPP/EI and Tax, Workers Compensation, ROE, etc.) as well as preparation of T4’s and T5’s for holding companies
- Provide financial reviews on the company benefits plan.
- Compliance and Reporting to External Entities
- Coordinate year-end processes and preparation of financial statements for the external accountants
- Ensure compliance with local, provincial, and federal reporting requirements and other external agencies (Insurance, Stats Can, etc.)
- Review, approve and comply with external reporting requirements set out by financial institutions
- Coordinates all other customer and government audits as they arise
- Oversee tax research and development programs for CRA (normally external accountant role).
- Identify economic and industry trends to develop revenue growth opportunities and identify and mitigate against strategic risks
- Support the CEO in the identification and assessment of investment opportunities to advance business interests and increase profits
- Remain informed of new regulations and legislation that may impact company financial practices and procedures
- Identify and communicate external financial risks to the organization and support in mitigation
- Optimize the handling of banking relationships and initiate appropriate strategies to enhance cash positions
- Monitor and maintain compliance with bank covenants
- Develop and maintain relationships with senior management, strategic partners, and clients
- Participate in industry events and associations to enhance skills
- Technology Management
- Lead change management initiatives with technological changes
- Strong awareness and knowledge on technology processes
- University Degree in Finance or Accounting; Master’s degree preferred
- Construction or related industry experience is required
- Minimum of 5 years’ experience working in a senior management role
- Strong financial and accounting background, including profit and loss, balance sheet and cash flow management and general finance
- Superior analytical skills complemented by strong budgeting, forecasting, and financial modeling; experience preferably within the construction industry
- Experience with financial reporting software and systems to support reporting and company growth
- Strong technology implementation and change management experience
- Proven negotiation skills
- Proven experience in driving efficiencies and new financial practices within the organization
- Strategic thinker considering the impact of key financial decisions
- Experience with corporate governance
- Excellent interpersonal, written, and oral communication skills
- Able to work with diverse and challenging populations
- Strong work ethic and takes initiative
- Ability to maintain flexible work schedule
- Flexibility in attending evening/weekend events as needed