Financial Analyst - creation of the business cases - 31314
Location Address: Hybrid – 150 King Street W – 2 days in office/3 WFH
Contract Duration: 12 months (Possibility for extension or convert to FTE)
Story Behind the Need
Business group: The Project Financials Control Group looks after financials for all projects under Global Banking and Markets. They are involved with the creation of the business cases and continue to manage the financial tracking, cost classification, time expenses and tying costs back to the original business case throughout the project lifecycle.
Project: The Project Financials Control Group is seeking an individual that would assist on a portfolio of projects which are divided across the team; looking after project financials, ensuring pay outs are being done monthly, tracking actuals vs forecast, preparing accruals, conducting financial forecasting and liaising with project managers to ensure they are within budget.
- 70% maintenance, 30% standard reporting and maintaining relationships and communicating the project financial piece
- Downloading multiple reports from various platforms and combining them into Excel (supporting the centralization)
- Point of contact for financial questions/ needs (provide any required details and reporting figures to stakeholders i.e. how much do we expect to see coming in in forecast)
- Forecast, accruals updates and management between stakeholders
- Cost tracking and financial reporting metrics
- Invoice processing and maintenance
- Timesheet monitoring using Clarity, Fieldglass and JIRA/Confluence, how many timesheets will they be monitoring (managing 50-60 resources)
- Maintaining vendor relationships (approx. 30-40 vendors overall)
- Contract management and record keeping
- Other administrative tasks as required
- Maintain the budget; this includes auditing items to be delivered under projects, reviewing the weekly and monthly time tracking reports for anomalies, ensuring all invoices have been approved with the proper sign-offs prior to payment and ensuring drawdowns are properly recorded and maintaining ongoing cost to complete forecasts. This includes full reconciliation of the project budget and completing investigations for differences as they occur.
- Working with Delivery Managers and Vendors to correctly collect and record accruals information
- Working with Delivery Managers to create and maintain project forecast
- Track project budgets and expenditures, monitor transaction controls and costs against budgets.
- Predict potential budget overruns and offer solutions.
- Review contracts, cost proposals and contract supplements.
Must Have Skills:
1) 1-3 years of experience with financial forecasting, reporting, and managing project financials - see additional notes
2) 1-3 years of advanced Excel experience: working with large volumes of data, index match, Vlookup, complex formulas, experience centralizing information into Excel
3) 1-3 years of proven knowledge of accounting and or/ finance
4) Knowledge of timesheet management tools such as Clarity PPM, Fieldglass and JIRA/Confluence - please list tools used if yes
1) Capital Markets knowledge/experience (as the team is dealing with regulatory projects) - see additional notes
Degrees or certifications:
- Bachelor's degree in related field, business, finance, economics, accounting, etc
- MBA an asset
- CPA an asset
- Finance /accounting experience included: Actuals vs. Accruals vs. Forecast, Capital vs. Operating expense, how financial projects work, development vs. research phases etc.
- Capital Markets knowledge includes: regulatory reporting, knowing general framework of how it works, why are regulations created in the first place: knowing related terminology will help them communicate with PMs and other stakeholders
- When sourcing, you can also look for operations analysts, PCOs – the main point is someone who has a solid grasp of accounting/finance and will be able to use their analytical skills to hit the ground running in role.
- Not looking for someone senior – open to higher years of experience but need to be OK with the role responsibilities