Manager Financial Reporting

Plan and manage the WSIB’s financial reporting program (monthly, quarterly and annual). The responsibilities include preparing the WSIB consolidated financial statements, ensuring the WSIB’s financial information is reported in accordance with generally accepted accounting standards, and complies with WSIB’s corporate objectives and statutory obligations.

These responsibilities are carried out to provide Senior Management and the Audit and Finance Committee with the WSIB Financial Statements and assurance regarding the quality of the information that underlies the WSIB consolidated financial statements.

The Manager, Financial Reporting is expected to make recommendations to Senior Management (Corporate Controller, VP, Financial Reporting and CFO) for developing financial statement packages and maintaining accounting principles, practices and procedures to ensure accurate and timely financial reporting.

The Manager, Financial Reporting participates or leads corporate projects/initiatives with impact on financial reporting or financial systems and provides financial consultation service to management on financial reporting matters

Major Responsibilities:
1. Plan and manage the WSIB’s Consolidated Financial Reporting program which includes preparation of the monthly financial statements, quarterly report to stakeholders and annual report. This includes:

Preparing and reviewing consolidated financial statements and notes and provide to Senior Management.

Co-ordinating Management Discussion and Analysis (MD&A) for quarterly stakeholder report and annual report.

Applying a thorough understanding of the financial reporting and general ledger structure in preparing the financial statements.

Planning to ensure that all financial reporting deadlines are met and problems addressed in a timely manner

Reviewing support information prepared by financial reporting team and ensure completeness, accuracy and compliance to financial standards.

Providing guidance and direction to financial reporting team.

Providing financial reporting advice, recommendations to WSIB clients to assist in preparation of information needed for financial statements and stakeholder reports

Maintaining comprehensive and current knowledge of the statutory obligations and operational policies in relation to financial reporting requirements

Reviewing accounting process controls, establish and maintain accounting policies and procedures to ensure adequate internal controls over financial information.

2. Planning, implementing and maintaining the WSIB consolidated financial statements and supporting financial reports and information systems (General ledger and sub ledgers for financial information) by:

Implementing changes to financial statements and other support financial reports and ensure updates are made for any changes in accounting standards and/or management requests.

Researching accounting and financial reporting requirements and/or standards and recommend changes to financial reports.

Ensuring financial systems objectives are consistent with the WSIB’s corporate goals and objectives.

Providing technical advice on general ledger system and on financial system information requirements.

3. Develop and maintain effective communication relationships within the WSIB and external to the WSIB on reporting, accounting controls over financial reporting, financial reporting process by:

Responding to queries from Corporate Controller, VP, Financial Reporting and Chief Financial Officer regarding financial results, and reports.

Liaising with external auditors and other external consultants to ensure timely quarterly reviews and audits.

Interfacing with other departments to verify transactions and information needed for financial reports.

Providing guidance to other WSIB areas on recording of financial transactions and financial reports.

Leading projects and/or participate in projects with financial reporting impact and provide expert advice on financial reporting or accounting.

4. Provide administrative services such as:
Ensuring that the financial reporting department is adequately and competently staffed; identify and implement staff training and development needs;

Providing oversight and direction to staff in the financial reporting group on policies and procedures

Monitoring and analyzing department’s work to develop more efficient procedures and use of resources while maintaining high level of accuracy

Plan, monitor and controlling activities/assignments of staff to ensure that all financial reporting deadlines are met and ensure issues/problems addressed in a timely manner

Carry out performance reviews; hire new staff, handle employee problems in accordance with Human Resources Policies and Procedures and Collective Agreement;

Managing, develop and administer the department’s budget, monitor expenditures through variance reports, review and make adjustments as necessary

Job Requirements:
1. Education: Expert knowledge of accounting principles and practices as defined by GAAP (Generally Accepted Accounting Principles) usually acquired through professional designation (CPA), a certificate in IFRS (Internal Financial Reporting Standards) and/or relevant IFRS experience, a relevant degree from a recognized university, and/or an equivalent combination of relevant education and practical accounting experience at a senior level in order to understand, interpret and apply IFRS to WSIB’s financial statements.

Designation: CPA

2. Experience: 5 years’ experience at a Senior Accounting level

Experience in IFRS 17 Insurance Contracts considered an asset

As a precondition of employment, the WSIB will require a prospective candidate to undergo a criminal records name check prior to or at any time following hire.

To apply for this position, please submit your application by the closing date noted above.

We appreciate the interest of all candidates. Due to the volumes of applications we receive, we are only able to contact candidates that are selected to move forward in the recruitment process. The WSIB is an equal opportunity employer.

The WSIB is an equal opportunity employer and provides accommodation for job applicants in accordance with the Human Rights Code and the Accessibility for Ontarians with Disabilities Act. If you are an individual with a disability and you need accommodation in order to apply for this position, please contact [email protected]. If you are invited to participate in the assessment process, please provide your accommodation needs at that time. Please be advised that you may be required to provide medical documentation to the WSIB’s Corporate Health Department so that appropriate accommodation can be provided to you throughout the recruitment process.

Employees of the WSIB have important ethical responsibilities, including the obligation to place the public interest above personal interests. Job applicants are therefore required to disclose any circumstance that could result in a real, potential or perceived conflict of interest. These may include: political activity, directorship or other outside employment and certain personal relationships (e.g. with existing WSIB employees, clients and/or stakeholders). Please contact TAC if you have any questions about conflict of interest obligations and/ or how to make a disclosure.

Privacy Statement

Personal information will be collected from your resume, application, cover letter and references under the authority of the Workplace Safety and Insurance Act, 1997 and will be used by the Talent Acquisition Centre and WSIB hiring parties to assess/validate your qualifications and/or determine if you meet the requirements of vacant positions and/or gather information relevant for recruitment purposes. If you have questions or concerns regarding the collection and use of your personal information, contact the WSIB Privacy Office, 200 Front Street West, Toronto, ON, M5V 3J1 or 416-344-5323 or 1-800-387-0750 extension 5323. Be advised that information related to application status will not be provided.