Financial Planning Analyst

Job Description

JOB TITLE: Financial Planning Analyst

DEPARTMENT: Corporate Support Services

POSTING NUMBER: 106524

NUMBER OF POSITIONS: 1

JOB STATUS & DURATION: Temporary 14-18 months Contract

HOURS OF WORK: 35 hour workweek

LOCATION: Hybrid Model*– when working onsite, you will report to the location of West Tower.

SALARY GRADE: 5

HIRING SALARY RANGE: $86,091.00 - $96,853.00 per annum

MAXIMUM OF SALARY RANGE: $107,614.00 per annum

JOB TYPE: Management and Administration

POSTING DATE: January 21, 2025

CLOSING DATE: February 3, 2025

AREA OF RESPONSIBILITY:

Reporting directly to the Senior Advisor, Client Services (Finance), this position will provide financial planning, budgetary, management reporting and analytical support to client departments. In addition, this position will identify performance, efficiency and innovation improvements on behalf of client departments and prepare financial impact analysis, assist with implementation and provide training.

Departmental Budget Development

• Provide financial analysis, modelling and historical trending on client departments Operating and Capital budgets, in order to provide management with the information required to determine future budget needs.
• Communicate, advise and train departmental management on budget development processes, corporate timelines and requirements.
• Coordinate meetings with departmental management to develop budget submission requests in an accurate manner, while meeting corporate deadlines.
• Review and consolidate operating and capital budget submissions for a given department to ensure accuracy, adherence to budget guidelines, legislation, corporate policies and procedures, by-laws and best practices.
• Facilitate prioritization of budgetary requirements with departmental management.
• Support departmental development of Business Plans and Budget Binders, including measuring and reporting on key performance indicators.
• Work cross functionally with other corporate divisions i.e. Human Resources, Purchasing, Accounting, Information Technology to advise of financial impacts where necessary.

Administer Departmental Budgets

• Pro-actively monitor actual results vs budgets to ensure funding is being utilized as approved by Council.
• Work with departmental management to prepare monthly/quarterly reviews of the fiscal position of the department’s operating budget. This includes identifying, projecting and explaining variances, along with highlighting areas of opportunity or risk.
• Investigate and analyse budget appropriation failures, obtain variance explanations and approvals from department heads.
• Proactively meet with the varying managers within a given portfolio to understand the nature of their business and advise on financial matters as necessary.
• Monitor capital budgets vs ability to commit funds at a program level to ensure funds are allocated to areas where they can be efficiently utilized.
• Review financial implications for a given department's Council and Procurement reports to ensure proposed initiatives have been approved by Council, sufficient funds exist and appropriate funding sources are used.
• Analyse Budget Amendment requests to ensure all funding options are identified, appropriate funding sources are used.

Departmental Budget System Requirements

• Enter departmental budget submission data into corporate budget applications, ensuring a high degree of accuracy and compliance with Budget Guidelines.
• Enter quarterly operating budget variance information in the corporate budget system with a high degree of accuracy, while meeting corporate timelines.
• Evaluate and monitor system structures to capture any structural corporate changes.

Provide Financial Modelling, Analysis, Research and Decision Support

• Identify performance, efficiency and innovation improvements on behalf of client departments and prepare financial impact analysis, assist with implementation and provide training as necessary.
• Conduct research and prepare ad hoc studies of, for example, financial implications of alternative business models, cost/benefit analysis of business operations or new initiatives and make recommendations for improved risk management.
• Prepare financial modelling, analysis, templates and reporting to support departmental management decisions.
• Formulate strategic financial recommendations and provide constructive insight on financial-related matters.

SELECTION CRITERIA:

EDUCATION:

• University degree in Accounting, Finance, Business Administration or other relevant discipline is required.
• CPA designation (CA, CMA, CGA) or CFA or MBA is required.
• Certificate in Lean Six Sigma/Kaizen is considered an asset.

EXPERIENCE:

• 3-5 years of progressive experience in a financial related field.
• Experience with municipal finance, budgeting and infrastructure funding considered an asset.

OTHER SKILLS AND ASSETS:

• Knowledge of relevant municipal legislation considered an asset (e.g. Development Charges Act, Municipal Act, etc.).
• Demonstrated analytical and conceptual thinking with strong reasoning and problem solving abilities.
• Advanced computer skills in MS Office including extensive knowledge of spreadsheet and database applications and PeopleSoft Financials.
• Excellent interpersonal, customer service, and public relations skills.
• Ability to communicate (oral and written) at a high level of proficiency.
• Able to work independently and as part of a team.
• Consultative and collaborative approach to working with clients and cross functional teams.
• Will be required to attend off-site meetings on a regular basis.
• Excellent performance and work record.