Controller

Controller

Vancouver, BC or Toronto, ONAre you interested in joining a dynamic and forward-looking team that supports community-based organizations with flexible financing tools to meet their needs? Are you interested in creating lasting value for communities? Are you an adept accounting professional that is excited by variety and the opportunity to work across a number of different entities (i.e. non-profit, charity, for profit (charity/team owned), limited partnerships and trusts)? If so, keep reading. We’re looking for someone like you!

About New Market Funds

We are an ImpactAssets 50 manager and Certified B Corp company.

(NMF) is a multi-fund impact investment fund manager with offices in Vancouver and Toronto. We have a mission to deliver investment opportunities that have a lasting benefit for communities and concentrate our efforts on community-focused real estate and lending. We are a values-driven, innovative resource for social enterprises, co-operatives, and non-profits. The includes NMF Rental Housing Fund I and II, New Commons Development, New Commons Housing Trust, Community Forward Fund, and the Canadian Cooperative Investment Fund.

We envision a new market in which investment capital seeks to create value that includes clear social and environmental outcomes as well as financial returns. We do this by living our values in our work every day. We are guided by our principles about building strong communities, creating a positive workplace in which everyone feels welcomed and empowered, working towards Reconciliation with Indigenous peoples, and building an impact legacy. The Controller will report to the Chief Financial Officer. Following the hire for the Controller, we will be growing the finance team by hiring a junior team member as well. The Controller will support this hiring process and will manage the junior team member once hired. The Controller will be a core member of the New Market Funds team, supporting the finance and accounting functions across the NMF platform. The Controller will work primarily in NMF’s Vancouver or Toronto office, with hybrid flexibility.

Why work with us?

• Your work will contribute to helping create lasting benefits for Canadian communities.
• You’ll get a broad range of exposure to real estate development, private equity, private lending, non-profit accounting, fund accounting, acquisitions and more.
• You won’t be a cog in a wheel. You’ll play a key role in making our finance and accounting functions run more smoothly and be more effective as we grow.

Job Responsibilities

Once the junior team member is hired they will perform these tasks and you will manage/oversee them, until that time you will perform them:

• AP/AR & Payroll Management – You will monitor AP inboxes, enter bills and create invoices (primarily intercompany and externally for development contracts). You will make sure vendors get paid on time and do your best to ensure we are paid on time.
• Loan Receivables – You will manage monthly loan payments for our two loan funds and related databases, and respond to audit confirmations or other borrower requests as required;
• Filings – You will complete GST, provincial and regulatory filings;
• Bank Reconciliations/Monthly Financials – You will complete journal entries, reconciliations, month end closings and create a first draft of the monthly financials/notes/projections for our 5 operating entities as well as the multi-family residential buildings owned by our non-profit housing society
• Fund Support – You will support the processes for capital calls, distributions, audit confirmations and questions from investors

The following list represents tasks that you will continue to perform after the Junior Accountant is hired:

• Monthly Financials – You will oversee month end closings and review the monthly financials/notes/projections for our 5 operating entities as well as the multi-family residential buildings owned by our non-profit housing society
• Fund Financials – You will review monthly/quarterly fund financial statements (6 funds and growing) and prepare investor statements quarterly
• Provision Analysis – You will perform quarterly provision analysis on the loan fund receivables and annual impairment analysis on the housing fund investments
• Reporting – You will produce and potentially present a wide range of reports (financial and non-financial) for staff, boards and investors, including budget vs. actuals, cash flow projections, portfolio summaries and high-level dashboards
• Budget Preparation – You will support the CFO and management in the annual budget creation
• Audit Preparation and Management – You will prepare working papers, supporting schedules and memos. You will support the CFO and the auditors throughout annual audits and review engagements of all legal entities (we have 10 audits and 3 reviews, and growing – all due by March/April) and keep all engagements moving and on time
• Tax Support – You will support the CFO in reviewing annual tax returns and oversee the GST filings
• Acquisitions – As we acquire new multi-family residential buildings you will perform the acquisition accounting, prepare memos and ensure accounts are set up for seamless monthly reporting
• Lending Support – You will support the CFO to review loan credit applications before going to the Investment Committee, loan agreements and documentation before loans are funded and manage the loan databases
• Special Projects – You will respond to new investor diligence questions, collaborate with the team on investment and loan closings, fund return calculations and other ad hoc projects that are driven from internal and external stakeholders.

Qualifications & Knowledge

• Minimum 7+ years of experience in full-cycle accounting or similar role, no maximum. As we plan to hire another finance team member that you will manage, prior management experience is preferred.
• Diverse range of accounting and finance exposure (e.g., non-profit, for-profit, funds, different industries, etc.) and asset management experience a bonus.
• A Bachelor’s Degree and CPA designation are an asset, however, you do not necessarily need one or both to qualify for this role. We are absolutely open to speaking to candidates without these credentials if you can very strongly demonstrate 1) your capacity to succeed in all aspects of the role, and 2) your experience.
• Proficiency with Microsoft Office Suite (e.g., Word, Excel, Outlook), Google Suite, and experience with ERPs or other accounting software.
• Bilingual in French and English is an asset but is not required.
• Some IT experience is an asset (to potentially support the back end of our ERP, Netsuite) but not required.

More specifically, you are:

• Detail-oriented – You check and double-check your work and that of others to minimize mistakes and things falling through the cracks.
• Analytical – You are responsive and analytical by nature, with a strong aptitude for finance/numbers.
• Independent – You are happy working independently and also know when to bring others in for help.
• An excellent communicator – You know how to get your message across clearly and effectively. Whether it’s through email communication, in-person conversations or written reporting, you’re concise and thoughtful with your messages.
• Always improving – You identify ways to streamline processes and continuously improve, both with your own work and with that of your team as a whole.
• Excited about community impact – You relish the opportunity to use your skills to create a positive impact in your community through innovative financing tools.
• A problem-solver – When you run into a problem, you’re resourceful to try to find a way through it (Google, phone-a-friend, CPA Handbook, excelguru.com, etc.) If you don’t find a solution in a reasonable amount of time, you’re never afraid to ask for help and you know you can count on your team to support you.

Compensation and Benefits

NMF will provide a professional and rewarding working environment with the opportunity for career growth and expects the salary to range between $90,000 - $110,000 for the right candidate, commensurate with experience. Other benefits include extended health and dental benefits plan, phone allowance, wellness allowance, professional development allowance and eligibility to join the New Market Funds Team Ownership Plan after two years.

How to Apply

If you are interested in this exciting opportunity, please send your cover letter and resume to with ‘Controller – [Your Name]’ in the subject line no later than April 7, 2024. Interviews will be held on a rolling basis until the right candidate has been identified.

NMF is committed to equity in employment, diversity in our team, meaningful reconciliation, and social inclusion. We welcome and encourage applications across any race, colour, religion, sex, sexual orientation, gender identity, national origin, disability, protected veteran status, Indigenous status, or any other legally-protected factors.

Applications from all qualified candidates are welcome. If you are an applicant with a disability and require accommodation during the hiring process, please contact us. We thank all applicants for their interest, however, only those selected for follow-up will be contacted.

Job Type: Full-time

Salary: $90,000.00-$110,000.00 per year

Benefits:

• Dental care
• Employee assistance program
• Extended health care
• Paid time off
• Profit sharing
• Work from home

Flexible Language Requirement:

• French not required

Schedule:

• Monday to Friday

Education:

• Bachelor's Degree (preferred)

Experience:

• Accounting: 7 years (preferred)

Work Location: Hybrid remote in Toronto, ON M5V 2L1

Application deadline: 2024-04-07