Financial & Business Analyst

Canadian Medical Protective Association•Ottawa, ON

2d•$85,500 - $114,400•Hybrid

About The Position

The Finance department supports the CMPA’s mission and goals by safeguarding the Association’s assets through accurate and timely recording and stewardship of financial transactions. The Portfolio Accounting & Reporting team acts as the back office bridging the Association’s internal Investment department with the Finance department. The CMPA manages a $6 billion portfolio deployed across traditional and alternative strategies including a significant allocation to private assets and hedge funds. Reporting to the Manager, Portfolio Accounting & Reporting, the incumbent is responsible for the investment accounting functions relating to the public portfolio of assets which include publicly traded securities, public loans, hedge funds and derivative instruments. This involves preparing both valuation and payable/receivable entries, as well as ensuring the accuracy of any automated entry processes. The incumbent identifies any deviations from manager valuations and is responsible for the monthly reconciliation process. The individual performs quarterly fee accrual analysis for public funds and assists in the production of annual audit reports.

Requirements

Minimum 4 year Bachelor’s Degree required, preferably with a concentration in Finance, Accounting, or an equivalent field of study
Successful completion of an accounting designation CPA (Chartered Professional Accountant) and/or CFA (Certified Financial Analyst) designation is required
Minimum of 4-6 years of relevant experience in the brokerage, banking, or investment-related industry, with direct experience in the “back-office” function for at least part of that time period
Experience in accounting for investments, including knowledge of portfolio reconciliations, pricing of swaps and forward contracts
Familiarity with the custodian function and reconciliation of their accounts to the external manager
Good insight into the investment sector, with an understanding of fixed income, public loans, hedge funds, swaps, forward contracts and private equity funds
A desire to maintain a current knowledge of investment research, trends, and directions as they pertain to public and private assets
Experience working with accounting system applications (Workday Financials would be an asset)
Experience working with high volumes of transactions within tight deadlines
Ability to meet established deadlines and prioritize work accordingly
Strong interpersonal communication skills with an ability to deal with internal or external contacts on a regular basis
Superior attention to detail and accuracy
Ability to adapt well to change and learn new things quickly
Advanced computer skills: specifically Excel and database applications
Ability to work independently and as part of a team and set priorities in a multi-tasked environment
Strong verbal and written communication skills (in English)
Ability to handle confidential information with discretion and diplomacy
Ability to take initiative, use sound judgement, and remain professional while attending to multiple priorities

Nice To Haves

Workday Financials would be an asset

Responsibilities

Oversees the preparation of all entries for the public assets including subscriptions, redemptions, and transfers
Monitors all collateral and securities sold under agreement to repurchase with counterparties and ensures that they are compliant within the established guidelines
Monitors cash flows forecasts for future investment activity, highlighting potential cash shortfalls; purchases and sells foreign currency and enters short term note purchases
Liaises with third-party custodian and counterparties, including resolving settlement issues and reconciling monthly custodian accounts
Updates the market values weekly for hedge funds, swaps and forward currency contracts
Reconciles swap and forward currency contracts with counterparties on a monthly basis and follows up on variances
Reconciles cost and market values for all public assets against the values provided by brokers/fund managers
Prepares aggregate monthly Public Asset entries for the database loads into the financial accounting system
Verifies accuracy of automated upload of custodian public mandate values as well as any ad hoc entries
Compares monthly manager-reported values and custodian values for fixed income securities and public loans and follows-up/resolves any significant discrepancy in market value between the manager and the custodian
Completes monthly reconciliation of all Investment trial balance accounts in the financial accounting system with the investment accounting system
Reconciles, prepares, and processes quarterly investment management fee accruals for Public Assets
Reconciles all profit and loss accounts in the financial accounting system against the custodian and investment accounting systems and explains/corrects any variances
Updates and continuously improves the public asset policies and procedures
Assists with the preparation of the financial statement note disclosures for the year-end corporate financial statements and audit work papers for interim and final audits