SCOPE
The Finance Officer position is located in Inuvik and reports to the Executive Manager.
The Inuvik Housing Authority is responsible for the delivery of social housing in Inuvik. The Finance Officer is responsible for the Operations & Maintenance (O&M) budget for public housing in the community; payroll; accounts receivable; accounts payable; tax reports and remittances; and producing monthly rent reconciliations and quarterly variance reports for the NWT Housing Corporation. The Finance Officer must ensure that all financial information is properly recorded and kept current. Other related duties as assigned by the Executive Manager.
Failure to successfully complete all tasks could have a dramatic effect on the operations of the Inuvik Housing Authority and could lead to financial mismanagement of the Authority. Failure to collect accounts receivable in a timely manner could have adverse effects on the Authority’s ability to meet its financial obligations. Failure to promptly pay accounts payable could lead to financial hardship for contractors and private businesses that provide services to the Authority. Failure to properly complete and submit the monthly rent reconciliations and quarterly variance reports could have adverse effects on the Authority’s ability to meet its financial obligations.
The Finance Officer is responsible for providing support, training, and directly supervising the Administration Clerk.
The Finance Officer is required to be ‘on call’ on a rotational basis. A cellular telephone is provided for this purpose. After hour callouts may require the Finance Officer to respond to public housing units; a driver’s license and access to a vehicle would be an asset but is not required. ‘On call’ compensation is detailed in the offer of employment.
RESPONSIBILITIES
- Prepare financial reports, in consultation with the Executive Manager, in order to ensure sufficient funds and a clear and accurate picture of the current financial situation:
Main Activities
§ Estimate revenues and expenses
§ Prepare monthly variance reports
§ Prepare quarterly variance reports
§ Prepare additional financial reports including income statements, balance sheets and other reports as may be requested by the Board of Directors, Executive Manager, or NWT Housing Corporation.
§ Provide financial advice and make recommendations on revenues and expenditures
- Maintain the day-to-day financial operations of the Authority ensuring the accuracy and timeliness of the financial system:
Main Activities
§ Implement cash controls
§ Monitor cash flow
§ Establish and maintain the general ledger
§ Reconcile and prepare bank statements
§ Manage and reconcile the accounts payable
§ Manage and reconcile the accounts receivable
§ Manage payroll and benefits operations
§ Update the leave management system
§ Prepare payroll reports and issue income tax documents (i.e. T4s)
§ Prepare and issue GST returns
§ Assist with year-end audit procedures
§ Act on audit recommendations
- Administer projects, programs and services in order to ensure the prompt payment of contracts:
Main Activities
§ Assist with the preparation of funding proposals
§ Administer project and program funds (M & I’s, Apprenticeship)
§ Monitor contracts (Caretaker(s), Cleaning)
- Maintain the Computerized Financial Accounting System:
Main Activities
§ Ensure the integrity of the financial data
§ Maintain an appropriate and up-to-date computerized financial accounting system
§ Provide recommendations for improvements to the Executive Manager
- Provide support, training and supervision to Admin Clerk/Receptionist.
Main Activities
§ Provide training, daily support and supervision to one staff member
§ Conduct the annual performance appraisal and should conduct quarterly employee performance (progress) reviews
§ Provide recommendations for operational improvements to the Executive Manager
- Provide assistance to the Executive Manager in the following day-to-day office operations in order to ensure an effective and efficient work environment:
Main Activities
§ Set up and maintain filing systems
§ Assist with the development of financial policies and procedures
§ Coordinate repairs to office equipment
§ Maintain an asset registry
KNOWLEDGE
The incumbent should have the following knowledge:
Knowledge of generally accepted accounting principles, accounting theories and principles
Financial management including the preparation of financial reports such as income reports and balance sheets
Accounting knowledge including knowledge of general ledgers, chart of accounts, accounts payable and accounts receivable
Knowledge and experience in the administration of payroll and benefits
Knowledge and experience in the administration and remittance of payroll taxes and GST
General understanding of the audit practices
SKILLS
The incumbent must demonstrate the following skills:
financial management skills
contract management skills
analytical and problem solving skills
decision making
experience motivating and supervising staff
computer skills including the ability to operate a computerized accounting program and spreadsheet and word processing programs
effective written and verbal communications skills
time and stress management
Personal Attributes
The incumbent must maintain strict confidentiality in performing the duties of the Finance Officer. The incumbent must also:
Be committed to following all applicable legislation, policies and procedures
Demonstrate a dedication to the position and the community
Demonstrate respect and consideration for others
Demonstrate cultural awareness and sensitivity
Demonstrate sound work ethics
Maintain standards of conduct
Be consistent and fair
Be flexible
This level of knowledge and skills is normally acquired through completion of a second level towards a professional accounting designation or a Diploma in Accounting or Business Administration and 2 year of related experience.