Financial Analyst, Investment Fund Finance

Location: Hybrid – Toronto, ON

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Empire Life is looking to hire a Financial Analyst to join our Investment Fund Finance team! We are actively seeking candidates to fill a current, open position.

The total target compensation (TTC) range, including salary and target bonus, is $56,710 - $85,600. This TTC range is applicable to permanent roles only; fixed-term contract and casual roles are not eligible for annual bonus and would receive only the base salary component. The actual base salary offered within this range will be determined by the successful candidate’s skills and experience, as well as internal equity.

Why pursue this opportunity

Impactful work - get the opportunity to work on meaningful projects that have a positive impact on our customers, our company, and society as a whole.

Have your voice heard - with a fresh perspective, we welcome those that can highlight opportunities for improvement. We encourage creative and innovative thinking and welcome candidates who are not afraid to challenge the status quo.

Diversity, equity, and inclusion - we are committed to creating a diverse, equitable, and inclusive workplace and welcome candidates who share this commitment.

What you’ll be working on

• Assists the Senior Manager, Investment Fund Finance in the coordination of daily departmental activities and work flow.
• Assists with problem resolution and following-up on issues; resolves complex and/or problem cases in a timely manner; participates in training of other team members; assists, as needed, in interviewing, onboarding and training new team members.
• Maintains procedures consistent with investment fund industry best practices, including data entry, reconciliation, analytical review, investment fund-related reporting (internal and external) and other related activities.
• Participates in an ongoing system of internal controls over investment fund operations, daily investment fund values and investment fund-related reporting to ensure it functions consistently and effectively.
• Involvement in trade order processing for underlying investment funds held within fund-of-fund structures. Resolves trade settlement disagreements with third party investment managers.
• Performs reconciliation of investment fund units outstanding between the external custodian and fund accounting service provider’s records and internal unitholder recordkeeping transfer agency records.
• Performs reconciliation of underlying investment fund unit transactions and holdings between the external custodian and fund accounting service provider and various unitholder recordkeepers' transfer agency records (internal and external).
• Involvement in daily capital stock process and addressing any related questions which arise from our external custodian and fund accounting service provider.
• Participates in the tracking and processing of entitlements from underlying investment funds (i.e., posting of underlying fund distributions / DRIPs to internal investment administration / accounting system).
• Maintaining a daily NAV projection and reasonability analysis; performs daily NAV oversight activities and reasonability analysis to validate accuracy of daily fund prices (i.e., NAVPUs).
• Participates in and contributes to continuous process improvements and enhancements to controls while focusing on repeatable and scalable processes; identifies, recommends and participates in the implementation of technology solutions to mitigate data risks and to reduce human error.
• Participates in the production of weekly, monthly, quarterly, year-end and ad hoc reports to both internal and external stakeholders and ensures appropriate review of deliverables occurs to validate for accuracy, completeness and relevance.
• Participates in the establishment of annual expense budgets for each investment fund and ensuring associated daily accruals are established by the external fund accounting service provider.
• Performs the validation of daily expense accruals recognized in the investment funds, including management fees, custodial and fund accounting expenses, audit expenses, trading commissions and other general fund expenses.
• Participates on projects relating to investment funds such as the launch of new products, adoption of accounting standards, system implementations/upgrades including testing new software, etc.
• Participates in cross-training to mitigate operational risk during position absences/vacancies; provides back-up support for other team members and related Finance functions.
• Demonstrates knowledge regarding the technical aspects of the work and investment fund operations and finance activities.
• Acts as liaison with counterparts on other internal teams as well as with internal and external auditors, custodians and brokers.
• Participates in ensuring all departmental compliance requirements are satisfied.
• Other duties and responsibilities, as assigned.

What we’re looking for you to have

• Completion of a university degree with courses in investments, finance, accounting and economics
• 1-3+ years work experience in the insurance/financial services industry, with experience in a fund accounting, investment fund finance and/or investment fund operational role.
• Completion of the Canadian Securities Course or equivalent (or in progress) is an asset.
• Knowledge of Fund Accounting processes and procedures
• Knowledge of investment administration/accounting systems. Familiarity with SS&C Technologies Inc.'s Portia investment administration system is an asset.
• Strong understanding of investment fund accounting (i.e., knowledge of IFRS as it pertains to investment funds), valuation and operations. This includes daily pricing, reconciliation activities, multiple class accounting and financial reporting, amongst others.
• Knowledge of accounting for investments - including but not limited to exchange-traded and over-the-counter securities (e.g., short-term securities, bonds, debentures, notes, common and preferred shares, ETFs, investment fund units, LP structures, etc.) and derivatives - under International Financial Reporting Standards (IFRS).
• Must have an understanding of internal control procedures in the areas of impacts to the net asset value calculation and financial reporting.
• Knowledge of word processing, spreadsheet, database, and presentation computer software
• Ability to conduct research, investigate and analyze anomalies and discrepancies and make recommendations.
• Ability to coach, train and guide others.
• Strong written and verbal communication skills; a highly effective communicator/collaborator with the ability to influence others as well as cultivate productive relationships; ability to communicate complex financial concepts and results in a clear, concise, and an easy to understand manner.
• Well-developed analytical, evaluation, problem resolution, and decision-making skills.
• Well-developed mathematical skills.
• Well-developed conflict resolution skills; ability to negotiate solutions.
• If you are applying for a position which is open to applicants across Canada, unless otherwise indicated in the position, language proficiency in English is required for communicating with customers, advisors, or employees across Canada.

Beyond the salary

For regular full-time positions, Empire Life offers a comprehensive total rewards package that includes:

• Competitive salaries with annual pay increases
• Annual bonus program, which recognizes both strong company performance and individual contributions, for non sales positions
• Competitive uncapped commission, for sales positions
• A comprehensive employer-funded benefits package starting from day one of employment, that includes life insurance, disability, health and dental and a generous health account
• Flexible work arrangements and an annual allotment of personal health days.
• Four weeks annual vacation from hire date
• A defined contribution pension plan with generous employer matching
• Top up programs for parental leave and compassionate leave
• Employer-sponsored wellness and recognition programs
• A cash employee referral program

To learn more about working at Empire Life, visit https://www.empire.ca/workatempire.

Get to know us

Empire life is proud to be an equal opportunity employer. We celebrate diversity, are committed to creating an inclusive environment, and welcome everyone to participate in our application process. We encourage those of all backgrounds and experiences to apply, even if you don't believe you meet each unique qualification outlined. Applicants will receive equal consideration without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, disability, or age.

Empire Life welcomes applications from people with disabilities and disabled people. Accommodations are available upon request for candidates taking part in all aspects of the screening and selection process. If you need this job posting in an alternative format or have any accessibility questions, please contact [email protected]