Director, Accounting Operations

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

The role is responsible for overseeing the daily operations of the accounting department, including managing staff, ensuring accurate financial reporting data, and maintaining strong internal controls. This role ensures the timely and accurate completion of month-end and quarter-end close activities, as well as account reconciliations and accounts payable. The Director also collaborates with business and support departments to review monthly results, accruals, and prepaids. The Director works closely with the Finance team and other departments to ensure that all financial activities align with the organization’s goals and compliance requirements.

The Director will be a key role in the implementation of the new Enterprise Resource Planning (ERP) system.  ERP planning is kicking off at the end of September with an expected go live of May 2025.

MAJOR ELEMENTS OF THE ROLE

Team Leadership & Management:

• Lead and manage the accounting operations team, including hiring, training, and evaluating staff performance.
• Set department goals and objectives, aligning them with the organization’s financial strategy.
• Develop and implement accounting policies and procedures to ensure efficient and effective operations.

Accounts Payable:

• Oversee the accounts payable process, ensuring timely and accurate processing of vendor invoices and payments.
• Implement and maintain controls over the accounts payable process to prevent errors and fraud.
• Ensure compliance with company policies and relevant regulations related to accounts payable.
• Collaborate with vendors and internal teams to resolve any issues related to payments and invoicing.

Month-End and Quarter-End Close Activities:

• Oversee the month-end and quarter-end close processes, ensuring all financial data is accurately recorded and reported on time.
• Coordinate the preparation and review of journal entries, accruals, and other adjustments as part of the close process.
• Ensure the completeness and accuracy of financial statements, addressing any discrepancies or issues that arise during the close.

Account Reconciliation:

• Supervise the account reconciliation process, ensuring all balance sheet accounts are reconciled accurately and in a timely manner.
• Review reconciliations for accuracy, completeness, and compliance with accounting policies.
• Identify and resolve any discrepancies or issues found during the reconciliation process.

Internal Controls & Compliance:

• Maintain and enhance internal controls to safeguard the organization's assets and ensure the integrity of financial reporting.
• Ensure compliance with all applicable financial regulations, including tax reporting and filings.
• Coordinate internal and external audits, addressing findings and implementing recommendations.

Process Improvement:

• A key member of the ERP project team, developing and implementing the new processes and procedures for accounting operations.
• Identify opportunities to streamline accounting processes and implement best practices to improve efficiency.
• Leverage technology to enhance the accuracy and timeliness of financial reporting and accounting operations.

Cross-Departmental Collaboration:

• Work with business and support departments to review monthly financial results, ensuring alignment with the organization’s financial strategy.
• Review and analyze accruals and prepaids with relevant departments, making necessary adjustments and ensuring accurate reporting.

Strategic Planning:

• Participate in strategic planning and decision-making as part of the finance leadership team.
• Provide insights and recommendations on financial matters that impact the organization’s long-term goals.

SKILLS AND EXPERIENCE REQUIRED

Qualifications:

• University degree in Accounting or Finance

• Professional Accounting Designation, CPA, CA

• 8- 10 years previous experience, within Financial Services preferred
• Strong knowledge of GAAP, IFRS, and other relevant accounting standards
• Proficiency in accounting software and ERP systems; experience with technology-driven process improvements is a plus.
• Experience with Workday and Workiva is an asset
• MS Office suite of products with an emphasis on strong Excel skills

Attributes

• Proven leadership and team management abilities.
• Strong attention to detail, prioritization, ability to work in dynamic/deadline driven environment
• Excellent verbal and communication skills, a clear and professional communicator
• Excellent business and problem solving skills
• Experience in cross-function interactions
• Strong analytical and problem-solving skills, with the ability to interpret complex financial data.

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

Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:

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