Assistant Vice President, Financial Planning & Analysis

Assistant Vice President, Financial Planning & Analysis

DUCA is looking for an Assistant Vice President, Financial Planning & Analysis (AVP, FP&A) to join our dynamic team of Finance professionals!

The ideal candidate for this role has experience within the financial services industry specifically with planning, M&A support, management and financial reporting along with completion of a professional accounting designation.

Job Purpose & Summary

Reporting to the Chief Financial Officer, the AVP, FP&A works with the Executive Leadership Team (ELT) and senior management, to lead in the development of DUCA’s financial strategy, as well as implementing timely and insightful reporting of financial performance against such strategies and targets. The role also acts as key financial advisor to business leaders in achieving business and financial goals.

The AVP, FP&A is responsible for the development of the annual financial plans and quarterly forecasts for the business and ongoing monthly and quarterly management reporting against business and financial metrics and targets. The AVP, FP&A will also manage financial analysis required to support strategic initiatives such as M&A and new treasury, capital raising or key business initiatives, as well as to support other BAU activities such as product pricing and project business case submissions. Additional responsibilities include adhering to and enhancing related internal controls, policies, and regulatory requirements. 

Key Accountabilities & Duties

Reporting & Analysis

• Develop and maintain appropriate management information system and process to produce reports and analytics
• Implement and track measurable key metrics for monitoring overall business performance
• Identify issues and trends, and engage respective management groups timely for actioning
• Responsible for management reporting including quarterly board reporting and monthly internal business performance reporting ensuring quality, accuracy, and timely submission
• Benchmarking financial results, operating metrics, and other industry best practices with key competitors

Planning & Forecasting

• Responsible for preparation of DUCA’s Strategic Plan (Annual Operating Plan & Outlook) and quarterly forecasts
• Provide support and guidance to senior management during the budget process
• Analyze and explain business impact of variances and determine both short- and long-term impacts to the forecast
• Lead the implementation and maintenance of the budgeting tool through coordination with IT and other departments, as necessary
• Responsible for modelling & analysis of the Business Results Multiplier, the basis for internal bonus pool calculations

Strategic Projects

• Work closely with senior management in developing and implementing strategic plans including financial analysis and due diligence related to strategic investments, partnerships, M&A, and new business lines
• Provide updates on performance of strategic initiatives against plan
• Support the review, ongoing management of, and optimization of DUCA’s capital base to deliver optimal returns on Member’s equity while maximizing profit-sharing programs. This includes supporting various initiatives in capital structure planning, the raising of capital via Member investment share issuance or other capital instruments and/or initiatives to enhance Member profit sharing programs

Profitability Analysis

• Provide insightful analysis on the profitability of DUCA’s different Line of Business as well as other types of profitability analysis such as channel and product
• Establish consistent methodology to allocate Cost of Fund and overhead/Head Office expenses to LOB/Branches
• Work closely with all levels of Management to identify opportunities to improve profitability and reduce costs

Regulatory Compliance

• Responsible for monitoring and reporting DUCA’s compliance with regulatory requirements and internal policies including maintaining adequate internal controls related to reporting

Employee Management

• Strong leadership and people management skills to inspire, lead, coach and develop a team of top talent
• Display and encourage appropriate high-performance behaviors in the group are congruent with DUCA’s Be More, Do More, Achieve More philosophy

Occupational Experience & Education Requirements 

• Minimum 8 years of experience in financial services industry with experience in strategic planning, M&A support, management and financial reporting
• University Degree with emphasis on business, finance, and/or accounting
• Professional Accounting Designation (CPA, CA, CGA or CMA)

Knowledge, Skills & Attributes 

• Strong understanding of treasury functions including securitization and other capital/funding activities
• Experience with designing cost allocation model and fund transfer pricing
• Proven ability to be a strong internal business partner with collaborative business focus
• Ability to operate in a fast-paced and a changing dynamic environment 
• Strong organizational, prioritization, and time management skills with the ability to multi-task 
• Demonstrates excellent judgment and professionalism when dealing with various internal & external stakeholders
• Proven people leader with a track record of developing a strong team
• Knowledge of federal/provincial reporting regulations/requirements
• Proficiency in Microsoft Office suite with advanced Excel and Power Point skills

Working Conditions

• Extended working hours are required during the budget preparation process, financial statement close process, external audits, special projects and business process disruptions

Department: Finance

Primary Location: Corporate Office - 5255 Yonge Street, North York, ON M2N 5P8

Employment Status: Full-time

Hours per Week: 38

Job Grade Level: 11

About DUCA

DUCA exists to help people do more, be more and achieve more with their money and their lives. We’re driven by a co-operative philosophy that puts our Members (and Owners) at the centre of every decision we make, gives them a voice in how we’re run, and rewards them for their loyalty by sharing our profits.

At DUCA, we’re dedicated to creating a positive environment where our employees have growth and development opportunities, a healthy work/life balance, opportunities to give back to the community, and a focus on doing what is right for our Members. DUCA offers a competitive total compensation package including base salary, a short-term incentive (bonus) program, a comprehensive benefits program, pension plan, and employee banking benefits.

DUCA is committed to employment equity and encourages applications from all qualified candidates. Recruitment related accommodations will be provided upon request.

Qualified applicants are encouraged to submit their application. Applications must include both a resume and cover letter.

We thank all applicants but only those considered for an interview will be contacted.