|Date Posted||April 1, 2021|
Director of Finance
- Post-secondary education in Accounting. Preference is given to candidates with CA, CGA, CMA designation. Courses or certificates in financial management for nonprofit organizations, human resource management, and IT are considered an asset.
- 3-5 years of prior experience as Finance Director/Manager or similar role with similar type and size of organization. Desirable to have experience in a church or non-profit entity.
- 3-5 years of experience in financial management, in particular in the development, monitoring and reporting of the financial status of the organization and its various strategic and ministry initiatives.
- Experienced in handling accounting, finance, payroll, a range of administrative, clerical, annual audit and executive support related tasks
- Possesses strong finance, bookkeeping, accounting skills with an understanding of fundamental accounting with the ability to review financial reports and maintain accuracy, integrity and conformance with policy/practices
- Possesses a working knowledge of computers and is proficient in accounting and payroll software programs, including Microsoft Office applications, including advance Excel capabilities and ACS Financial Suite
- Knowledge of Caseware and Caseview is desired
Responsibilities and Outcomes
Director of Finance position involves both financial and management of accounting services at the Church. Director of Finance provides leadership and oversight to finance, accounting and compliance including annual audits, financial and monitoring reports, annual budgets, analyzes/interprets financial reports including year-end financial reports, and providing accounting and reporting services to the Elder Board, pastors, and congregation.
This position provides oversight to compliance including financial analysis, capital accounting, payroll and Canada Revenue Agency compliance. This includes developing and managing internal control and reporting policies and guidelines and procedures for budget control and administration, analyzing past, present and expected financial details to identify areas of improvement; ensuring that the financial reporting systems and processes are in compliance with Canadian laws and regulations and in compliance with policies, vision and objectives.
Director of Finance will serve as member of the Finance Committee. He/she is accountable for the effective and efficient operation of the accounting systems, individual is required to harmoniously and in good relationship with all of the pastoral staff, the administrative support team, the facilities manager and facilities staff, and the congregation.
Director of Finance serves as the confidential/trusted assistant to the Senior Pastor and Director of Operations.
Balance Scorecard of Director of Finance:
As part of succession planning effort, the Balance Scorecard of this position covers five key responsibilities:
- Updating Financial Manual to ensure that management and operational policies and procedures are in place to ensure that financial & IT activities are efficient and in-line with approved budgetary allocations, and meet all legal, ethical, CRA and Employment Standard requirements. As part of our commitment to succession planning, Director of Finance needs to develop training manuals of all key financial process covering Accounting Services
- Payroll processing: Work alongside Central Support, Accounting Services to be able to provide a two member processing of payroll and develop a training manual of all process related to payroll process
- Document retention of financial records, including cleaning up of old records and maintaining of electronic storage
- Improving and automating the purchase process, including the purchase approval process
- Improve and maintain financial processing platform, systems, procedures and internal controls
Director of Finance supervises members of the Accounting Services and provides support in a wide range of Accounting Services:
- Manage a budget of over $4 million
- Manage/supervise 2 positions in the Accounting Services
- Oversee accounts payable, accounts receivable, purchasing, donations processing and receipting
- Monitor the cash position of PORTICO Community Church
- Manage and oversee monthly bank and petty cash reconciliations performed by the Accounting Services
- Complete applications for supplies and vendors and maintain accurate and complete reporting by establishing effective accounting systems and procedures for all initiates
- Monitor the effective purchasing, payment of invoices, and expense reporting
- Manage bank transactions including wire transfers and keeping track of signing authorities
- Strong financial management acumen; knowledge of accounting procedures and protocols, budget administration and financial forecasting, analysis and reporting
- Knowledge of federal and provincial legislation affecting charities, charitable status, including T3010 and CRA regulations in Canada
- Strong knowledge of general HR/Finance functions such as group health benefits, expense processing, and working with the Senior Pastor and Executive Pastor to cover processing of new hires, salary increase and terminations
- Ensure that the organization has adequate insurance (Director and Officer/Errors and Omissions, General Liability, Property Insurance, Employee Dishonesty and others as required) is up to date on all statutory remittances
- Compile, prepare and interpret accounting/financial data, bank reconciliation and other financial performance information.
- Oversee the timely processing of donations received on a weekly basis, making payments to the PORTICO vendors and carrying out all aspect of payroll services.
- Ensure all appropriate internal controls are in place to achieve complete and accurate processing and reporting of cash movement.
- Reconcile recorded data inconsistencies and errors.
- Prepare timely reports on a daily, weekly, monthly, quarterly and/or year-end basis for accounting and/or management information purposes.
- Provide analysis/explanation for variances and trends.
- Ensure proper accounting procedures, adequate internal controls, documentation.
- Facilitate completion of the annual audit in a timely manner.
- Participate in special projects requiring analytical and/or accounting knowledge.
- Written and verbal fluency in English
Oversight to Finance and Accounting Services:
- Enter, report, reconcile and file regular and miscellaneous offerings
- Data enter and file accounts payable invoices
- On appropriate weeks, prepare and enter payroll, distribute the pay stubs, file the reports, and enter the information into the accounting software
- Prepare a report to the Senior Pastor and Director of Operations of the weekend deposit and resulting cash balances
- Set up new individuals and families on the database
- Assign offering envelope numbers
- Capture and enter the information obtained at the information centre
- Record and reconcile “flow-through” transactions
- Prepare and present reports including (regular, ad hoc, monthly) financial budgets and financial narrative reports for the review of the Finance Committee and executive team
- Oversight to data entry of all known expenditures for the month
- Verify that all regular month-end transactions are entered or accrued (utilities, payroll, pension and insurance payments, missions payments, depreciation, etc.)
- Review all accounts and explain unusual balances
- Reconcile all balance sheet accounts
- Reconcile trial balances for each fund
- Maintain general attendance records and reports
- Prepare monthly financial reports to the Elder Board, pastors and departments
- Updating Financial Manual that covers all relevant policies and ensures legal compliance.
- Developing training manuals of all key financial process covering Accounting Services
- Document retention of financial records, including cleaning up of old records and maintaining up to date electronic storage
- Assist with year end work to prepare for the annual audit
- Work with the on-site auditor(s) as required
- Prepare and mail income tax receipts
- Work with the payroll service to prepare and file T-4s and related reports
- Prepare T-4A, T-5s and similar annual tax forms
- Assist as requested in the budget process
- Administer benefits including insurances, pensions and RRSP’s, and paid leave
- Administer new employee hiring
- Maintain criminal record check records for employees and volunteers and notify supervisors and leaders of the status of each individual
- All payroll related functions including Payroll & Group Benefits & Retirement Benefits
- Clergy Residence Deductions
Oversight to other Accounting Service tasks
- Oversight of offering counting teams(s)
- Records for all Promissory notes and GIC investments
- Quarterly GST refund return
- Annual request for PST refund
- Financial reports for the pastoral staff
- Safe Bank Deposits, Safe Combination and Safe Security
- Preparation of annual budgets and Monitoring Reports
- Online donations and Pushpay renewal
- Online banking and credit card renewals
- Expense Reports & Certify
- Purchase process automation and control
- Document Retention and Intranet – Accounting Folders
- Dashboard for Data Visualization
- Annual T3010 Charity Return filing to CRA
- Succession Planning – Facilitate in planning for vacancy of key members of Accounting Services.
- ACS Financial Suite to be maintained, and responsible for updating ACS and any other address/contact information updates
- Accounting Service storage, document retention, electronic storage in compliance with Document Retention Policy
- Compliance of Benevolence Policy
- Compliance of Internally Designated Fund Policy
- Provide assistant to the Treasurer of Church. The Treasurer shall be responsible for overseeing the following:
(a) the keeping of an accurate financial register;
(b) the authorization of financial transactions on behalf of the Church;
(c) the maintenance of payroll records;
(d) the maintenance of accounts payable records;
- e) the payment of all authorized expenses whenever practical and possible;
(f) the investing of funds belonging to the Church as directed by the Board of Elders;
(g) the collection of monies received by the Church;
(h) the deposit of monies received by the Church into the proper bank accounts;
(i) the accounting for all monies received by the Church and the keeping of a full and accurate account of all assets, liabilities, receipts and disbursements of the Church including the following:
(i) recording the Church income and receipts;
(ii) recording the Church fund disbursements;
(iii) preparation of monthly bank reconciliations; and
(iv) preparation of monthly financial statements.
(v) the keeping of an accurate record of all contributions made through envelopes to the general, building and other funds of the Church as exist from time to time;
(j) to ensure that no member of the Board of Elders receives any remuneration from the Church unless such monies are for purposes of reimbursing such Person for legitimate expenses incurred on behalf of the Church; and
(k) to carry out such other duties as directed from time to time by the Board of Elders.
(l) In the case of temporary absence, the duties of the Treasurer shall be performed by another Person who is acceptable to the Board of Elders upon a Resolution of the Board of Elders.
Other tasks include
- Purchase and Inventory audit
- Succession Planning – Facilitate in planning for vacancy of key leaders.
- Perform other duties as assigned by the Senior Pastor or Executive Pastor
The above mentioned responsibilities are intended to describe the general nature and level of work being performed by person assigned to this position. This is not intended to be an exhaustive list of all assigned responsibilities, skills, efforts or working condition. Church reserves the right to change, amend, delete or otherwise assign any and all duties, responsibilities and position titles as is deemed necessary to meet the vision, mission and needs of Church.