NORTH ISLAND COLLEGE
POSITION DESCRIPTION
POSITION TITLE:
DIRECTOR, FINANCE
REPORTS TO:
Vice President, Finance and Facilities
DATE:
Reviewed May 2016
SUMMARY
Reporting to the Vice President, Finance and Facilities, the Director of Finance is accountable
for the operation of the Finance Department and preparation of complete and accurate financial
reporting for the College. The Director of Finance provides leadership, including tactical
planning and budgeting for the Finance Department. The Director is a resource to College
management in matters related to finance and accounting. The Director of Finance uses a
teamwork approach to lead a department which is engaged, responsive and professional.
DUTIES AND RESPONSIBILITIES
1.0
FINANCIAL OPERATIONS
1.1
The Director of Finance is accountable for the overall leadership of a responsive and
customer-service oriented department responsible for providing general advice and
assistance related to accounting, payroll and benefits activities as well as investigating
and responding to inquiries from all levels of the organization regarding process,
corrections and/or adjustments.
1.2
The Director of Finance is accountable for ensuring all financial transactions are
complete, accurate, timely and in accordance with applicable accounting standards,
College policy and legislation.
1.3
The Director of Finance ensures centralized financial services effectively respond to
operational needs and constraints through establishment and continuous improvement of
departmental procedures and systems.
1.4
The Director of Finance ensures that appropriate and effective control systems are in
place to safeguard the assets of the College.
1.5
The Director of Finance controls and monitors College revenues and expenses and
ensures regular reconciliation of balance sheet accounts.
Director of Finance
May 2013
1
1.6
The Director of Finance ensures the Finance module and related modules of the
Colleague Integrated Management Information system are operationally effective and
ensures the integrity and security of the financial data on the system.
1.7
The Director of Finance stays abreast of changes to legislation and professional practice
which have implications for the College and ensures changes to policy, procedures and
internal controls are developed as necessary in response to those changes.
1.8
The Director of Finance identifies financial policy gaps; develops and contributes to
review and renewal of College policies including providing information about best
practices.
1.9
The Director of Finance is the primary contact for banking and investment services. In
conjunction with the Vice President of Finance and Facilities, the Director manages
access to on-line services. The Director has signing authority on bank accounts and is
responsible for review of payments drawn on bank accounts.
1.10
The Director of Finance determines short-term investment strategies for cash in excess of
current requirements.
1.11
The Director ensures that the department’s practices are ethical and are conducted
openly, honestly and in the public’s best interest.
2.0
COLLEGE-WIDE BUDGETING AND FINANCIAL MANAGEMENT
2.1
In consultation with the Vice President of Finance and Facilities, the Director of Finance
develops appropriate organization structures and systems to support externally-funded
research and entrepreneurial activities.
2.2
The Director of Finance monitors capital expenditures to ensure they are consistent with
the College capital budget and that exceptions are brought to the attention of the Vice
President of Finance and Facilities.
2.3
The Director of Finance acts as an internal financial consultant to enhance financial
management College-wide which includes providing information for problem solving
and support to College personnel in accessing and understanding financial information.
3.0
FINANCIAL REPORTING
3.1
The Director of Finance prepares financial reports that accurately reflect the operations of
the College in accordance with applicable accounting standards, as directed by the Vice
President of Finance and Facilities, including year-end financial statements for audit.
3.2
The Director of Finance is responsible for production and submission of financial reports
required by the Province and Federal Government to ensure all statutory reporting
deadlines are met.
Director of Finance
May 2013
2
3.3
The Director of Finance is responsible for the organization and planning of year-end and
special audits including working papers, financial statements and liaison with the external
auditors for the College, the Foundation and other active entities operating under the legal
auspices of the College. Co-ordinate internal staff resources to prepare materials as
necessary.
3.4
The Director of Finance oversees periodic performance of internal audit procedures to
test control systems.
3.5
The Director of Finance provides support in the development and ongoing improvement
of reporting systems, problem solving and responds to inquiries from the Vice President
of Finance and Facilities, Board of Governors, and the Ministry responsible for postsecondary education.
4.0
MANAGEMENT OF HUMAN RESOURCES
4.1
The Director of Finance is responsible to the Vice President of Finance and Facilities for
the active management of human resources within the Finance Department, including
hiring, performance evaluations, development plans and managing performance issues to
ensure satisfactory resolution.
4.2
The Director of Finance develops selection criteria for recruitment of Finance staff in
accordance with agreed processes.
4.3
The Director of Finance ensures new Finance staff receive an orientation and are
adequately prepared to undertake their new assigned duties.
4.4
The Director of Finance ensures performance evaluations are conducted in a timely
manner for Finance staff in accordance with College processes established by Human
Resources.
5.0
EMPLOYEE RELATIONS
5.1
The Director of Finance establishes effective teamwork that promotes a work
environment that encourages personal productivity, job satisfaction and employee
advocacy.
5.2
The Director Finance implements the values of the College, promoting a learning and
working environment where individuals are treated with dignity and respect and
encourages innovation and creativity.
5.3
The Director of Finance encourages and supports professional development activities for
Finance staff, which meet employees’ goals and contributes to succession plans.
5.4
The Director of Finance is responsible for promoting effective union/management
relationships and works with union representatives to resolve problems effectively.
Director of Finance
May 2013
3
5.5
The Director of Finance ensures that College policies, procedures and provisions in
collective agreements are observed and handles grievances at Step 1 and Step 2
depending on the nature of the grievance. The Director advises the President and Director
of Human Resources on the resolution of grievances at Step 3 and prior to arbitration.
6.0
EXTERNAL LIAISON
6.1
The Director of Finance liaises with the financial representatives of the Ministry
responsible for post-secondary education for the purposes of financial accountability and
reporting.
6.2
The Director of Finance represents the College at provincial information sharing
networks.
7.0
DEPARTMENTAL BUDGETING AND FINANCIAL MANAGEMENT
7.1
The Director of Finance develops the annual budget for the Finance Department.
7.2
The Director of Finance ensures departmental expenditures are within the allocated
budget and takes corrective action as required.
8.0
PLANNING
8.1
The Director of Finance develops and implements goals and action plans for the Finance
Department on an annual basis, revising as required to reflect operational changes during
the year and reports annually.
8.2
The Director of Finance works with the Vice President of Finance and Facilities and
Divisional management in development of Divisional goals and tactical plans and
annually reporting.
8.3
The Director of Finance develops personal work goals for each fiscal year end reports.
8.4
The Director of Finance participates in College-wide planning activities as requested.
9.0
OTHER DUTIES
9.1
The Director of Finance assumes the duties of the Vice President of Finance and
Facilities when required.
9.2
The Director attends meetings of the Finance and Audit Committee of the College Board
of Governors.
9.3
Other duties as assigned by the Vice President of Finance and Facilities.
Director of Finance
May 2013
4
EDUCATION AND EXPERIENCE
1.
2.
3.
4.
CPA or equivalent professional accounting designation; member in good standing of the
professional body.
University Degree, preferably in a related discipline.
Minimum of five years related experience in a senior financial management position in a
complex organization, preferably in a post-secondary institution.
Demonstrated effective management experience including supervision of staff.
KNOWLEDGE, SKILLS AND ABILITIES
1.
Excellent interpersonal skills, including communication (written and oral), negotiation,
mediation, and conflict resolution skills.
2.
Familiarity with mainframe database management and accounting systems.
3.
Appropriate information literacy and computer skills, including advanced Excel skills.
Knowledge of Caseware an asset.
4.
A working knowledge of administration of collective agreements.
5.
A demonstrated ability to deal effectively and respectfully with individuals at all levels.
6.
Strong problem-solving and analytical skills.
7.
A commitment to teamwork and collaboration.
8.
Time management skills to handle dynamic, frequently changing priorities.
9.
Ability to apply management concepts to a wide variety of situations.
Director of Finance
May 2013
5