Job Description
Director, Financial Planning & Analysis (14 month contract) - RFA Bank of Canada
Friday, April 12, 2024
RFA’s residential mortgage lending business is operated by RFA Mortgage Corporation and RFA Bank of Canada, a federally regulated Schedule I Bank. RFA Mortgage Corporation specializes in Prime lending (Insured, Insurable, Uninsurable), while RFA Bank of Canada is a balance sheet based Alternative mortgage lender (Alt-A and B lending). Combined, RFA offers mortgage brokers a one-stop shop with our full suite of competitive Prime and Alternative mortgages.
RFA’s strategic vision is to be a long-term leader in the residential lending segment by offering a value proposition beyond just rate and compensation. Through building a competitive broker experience and solutions-oriented product suite, RFA’s goal is to be recognized and recommended by our mortgage broker partners, mortgagors, and other strategic partners, for our financing solutions and broker/client experience.
The Opportunity
Reporting to the VP Finance, we are looking for a Director of FP&A to join us on a 14 month contract, they would be responsible for supporting the entire planning & forecasting cycles, financial modelling and quantifying the effectiveness of the company’s strategic initiatives.
- Responsible for supporting the annual financial planning cycle including modelling, obtaining and vetting assumptions from each of the revenue generating business units, collecting and challenging information on expenses from the departments utilizing information on actual run rates and market factors.
- Collaborate with department heads to set financial targets.
- Develop and maintain accurate financial forecasts to guide executive decision-making and assess the impact of various economic scenarios on the bank’s financial health. Ensure that assumptions are updated, relevant and agreed upon by business unit leaders, at all times.
- Proactively identify gaps in the forecast to the plan and notify management with proposals and suggestions of closing the gaps.
- Manage the FTE models and be a key contributor to other overhead expense analytics, offering valuable insight to internal business stakeholders and budget owners.
- Supporting the ICAAP process by modelling and stress testing each of the scenarios, ensuring that stakeholders are in agreement with assumptions and inputs.
- Supporting the automation and leveraging software and technology enhancements in areas relating to planning, forecasting and business analysis.
- Oversee the collection, validation and management of financial data used in modeling, ensuring accuracy and integrity.
Financial Analysis and Reporting
- Conduct in-depth financial analysis, including variance analysis, trend analysis, and scenario modelling to identify key financial drivers and performance indicators
- Preparation of all non-statutory internal management, board performance reporting packages as well as forecasting packages
- Full analysis of all P&L and Balance Sheet line items, with a major focus on actuals against targets / plan as well as actuals vs forecast.
- Analyze various business initiatives against financial targets and KPIs
- Support product-based P&Ls, inclusive of direct and indirect cost allocations
Strategic Initiatives Support
- Measure and offer business insights into the strategic initiatives of the company to support decision-making.
- Support modelling processes / techniques to connect activity-based revenue and expense margins to overhead costs to offer significant value-add service to decision makers managing the business.
Leadership
- Managing, training and coaching a direct report to support ongoing learning and development.
- Assist risk management with ICAAP and stress testing programs.
- Assist in maintaining compliance policies, standards, and processes.
- Complete regulatory, compliance and risk management training.
Customer/Stakeholder Interaction
- As required, interact with management, project and support teams, end users and vendors.
- Interact with all functional areas of the business for the purpose of the continuous advancement of the Company’s information capabilities, implementation of processes and information delivery to improve operational efficiencies, strengthening of internal controls, as well as financial and non-financial analytics as required.
- Represent the company as appropriate in its relationships with its major customers, investors, competitors, external auditors, government agencies, professional societies and industry groups.
Ad Hoc
- Perform other responsibilities and assist with special projects, as required.
What you can bring to RFA:
- Undergraduate Degree in Business Administration, Finance or Accounting
A CPA / CFA designation - > 5 years year experience in the financial services industry in a financial planning and analysis role
- 3 – 5 year experience with accounting systems and financial consolidation
Benefits of Working at RFA:
- Vision Care
- Vacation & Personal Days
- Hybrid working environment
Are you the Right Candidate?
- Strong knowledge of banking operations, financial regulations, and risk management
Excellent analytical, modeling, and forecasting skills. - Proficiency in financial software and tools
- Strong communication skills to explain financial performance to finance and non - finance stakeholders
- Knowledge of NetSuite and NetSuite Planning & Budgeting is an asset
Accessibility
Accommodation is available upon request for applicants and employees with disabilities. If you are contacted for a job opportunity, please advise us of any accommodations needed to ensure you have access to a fair and equitable process. Any information received relating to accommodation will be addressed confidentially.