Accounts Payable Specialist

WHO WE ARE                                            

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.  
  

Our Values, Our Passion

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.  

Customer-Focused. Passionate Advocates 

Courage to Act. Do the Right Thing 

One Team. One Vision 

Think Long-Term. Ever-Evolving 

Be Exceptional. Inspire Greatness

POSITION SUMMARY:
 

This progressive role combines the fundamentals of accounts payable with analytics, reconciliations, and report preparation. The Accounts Payable Specialist is an integral part of the Finance department with oversight to ensure that the Bank’s expenses are correctly allocated and captured in a timely manner.  The role is responsible for timely payments to suppliers by generating cheque and EFT batches (using Sage) ensuring adequate authorization and approval. All disbursements are to be executed in accordance with company policies and procedures.

HomeEquity Bank uses Concur Solutions to administer its accounts payables.  The Accounts Payable Specialist is the main administrator of Concur where they will explore and implement the functionality of Concur building efficiencies within the process.  They are also responsible for training Bank employees in using Concur as well as assist with GL account coding to ensure accurate reporting.

The role interacts with all internal department managers, employees, vendors, and internal and external auditors. The Accounts Payable Specialist needs to be a well-organized individual who is cognizant of reporting deadlines and works well in a friendly team environment. 

MAJOR ELEMENTS OF THE ROLE:

Accounts Payable Processing

• Process accounts payable transactions; solve all invoice or payment requisition issues with the related department and ensure correct account coding and authorization is applied
• Process corporate credit cards and reconcile to on-line statements 
• Ensure accurate cut-off procedures are applied
• Validate processing of employee expense reports
• Prepare weekly EFT and cheque batches in Sage, obtain approvals, and process payments
• Record month-end accruals for unprocessed invoices
• Prepare A/P sub-ledger reconciliation with general ledger
• Respond to vendor and employee questions regarding invoice and expense submissions and payment status

Concur Administration

• Main administrator of Concur system
• Keep user accounts up-to-date
• Ensure Concur system accounts agree with the trial balance, adding new accounts when required
• Perform manual invoice verification procedure for rushed payments and review invoice assignment
• Provide Concur training to new users
• Maintain and create Concur reports to provide detailed AP analysis
• Continuously look to improve efficiency of the process

Internal Processes

• Administer internal payment requests
• Interactions with other departments, ensuring timely processing of requests
• Continuously build efficiencies in the process via automation, system to system connectivity, etc.

Reconciliations and Analytics

• Assist with expense variance explanations
• Provide information to internal and external auditors as requested
• Assist in preparation of quarter end and year-end supporting documents where applicable

SKILLS AND EXPERIENCE REQUIRED:

• A Bachelor’s Degree
• Working knowledge of accounting principles
• Ability to analyze account information
• 3 - 4 years of experience in an accounts payable function (Financial Services preferred)
• Sage and Concur experience an asset
• Knowledge of MS Office suite of products
• Excellent verbal and communication skills
• Excellent business and problem-solving skills
• Well organized and effective time management skills

Working Conditions Unique to Job

• Hybrid working environment

WHY WORK AT HOMEEQUITY BANK?

Great Environment

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
 

A Dynamic Culture – With People at the Centre  

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023. 
 

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.  
 

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.

From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness 

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Please note that our successful candidate is required to complete a background check.

Stay in the Know

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