Infrastructure Ontario (IO), an Ontario crown corporation, provides a wide range of services to support the Ontario government’s initiative to modernize and maximize the value of public infrastructure and realty. IO has been recognized domestically and internationally for the way it does business and the success it has had with its major projects, real estate services, infrastructure lending, commercial projects, and development mandate. IO delivers some of the most complex, ambitious commercial and land development solutions for the Province and continues to evolve and expand its capabilities to maximize its public impact and deliver on its vision of creating a connected, modern and competitive Ontario.
Infrastructure Lending
Our Loan Program has helped support more than $18 billion in local infrastructure investments across Ontario. It provides affordable, long-term financing to public sector clients, allowing them to modernize and renew their infrastructure.
We have helped hundreds of clients deliver thousands of community projects in all parts of the province. Our Loan Program has been used to revitalize roads and bridges, build new recreation centres and affordable housing units, and purchase equipment like fire trucks and energy-efficient streetlights.
We tailor our loans to meet the unique needs and complex development challenges of municipalities, housing providers, universities and other eligible public sector clients. All borrowers within each sector share the same affordable rates and benefits of the Loan Program regardless of their size or location.
Each loan is different but its impact is the same: efficient, healthier and more prosperous communities across Ontario.
Reporting to the Director, Realty Finance, the Manager, Accounts Payable will oversee the vendor invoice payment process for project-related activities, service provider funding, and other payables, ensuring compliance with legal and contractual requirements. This role will enhance accounts payable reporting by developing summary reports and analytics, including accounts receivable standing / other reports impacting liquidity. The manager will also maintain internal controls over accounts payable processes, ensuring accurate financial narratives, data integrity, and resolving discrepancies.
What You Will Do:
- Payment Processing: Oversee the development, maintenance, and enhancement of payment processing systems. Identify and resolve potential issues to enhance productivity and accuracy.
- Timely Payments: Manage payments for various activities, including projects, P3 operations, and funding requests. Ensure all payments are accurate, complete, and compliant with legal and contractual requirements.
- Invoice Management: Review and verify documentation and approvals for invoices. Address and correct any errors or budget issues before final approval.
- Vendor Collaboration: Work with project managers and accounting teams to align vendor invoices with project milestones and ensure proper funds are available for GL disbursements.
- Reporting: Develop and maintain summarized accounts payable reports, providing insights into payment trends, overdue payments, and overall AP performance.
- Analytics and Reconciliation: Track outstanding invoices, perform accounts payable reconciliations, and analyze data to identify improvement areas and resolve discrepancies.
- Vendor and Lease Management: Approve vendor setups, changes, and landlord lease payables. Address vendor questions and concerns promptly.
- Internal Controls: Review and recommend changes to accounts payable processes and internal controls. Implement corrective actions based on CEO-CFO certification findings.
- Performance Management: Set and monitor performance goals for staff, conduct evaluations, and manage talent development through coaching and mentorship.
Who We’re Looking For:
- Post-secondary degree in Accounting, Finance, Business, or a related discipline as asset
- CPA designation is considered an asset.
- Several years' experience managing Accounts Payable or related functions.
- Team leadership experience is requiredto build, develop, and motivate a professional team.
- Strong clients focus and relationship management experience is an asset
- Experience analyzing and interpreting financial information, preparing, and presenting statistical reports and summary to senior management.
What we offer:
- Commitment to creating a diverse, equitable and inclusive culture that promotes a sense of belonging and represents and reflects the needs of the communities we serve
- A flexible, hybrid work approach that allows colleagues to find balance between their professional and personal lives and making the most of the benefits of working remotely and purpose-driven in-person collaboration opportunities
- A defined contribution pension plan, where IO contributes the equivalent of 5% of a full-time employee’s annual salary, with an option for IO to match an additional 5% contribution made by the employee. IO also offers a Group Retirement Savings Plan and Group Tax Free Savings Account, designed to help IO colleagues plan and save for their future
- A comprehensive package that covers health, dental, vision, out-of-country care, paramedical services, and more
- A pregnancy and parental leave program that offers expecting, eligible employees a top-up to 95% of their annual base salary for 31 weeks, and our parental leave program offers eligible employees a top-up to 95% of their annual base salary for 15 weeks
- Access to our $1000 Healthcare Spending Account to top up expenses not covered in the benefits program and a Lifestyle Account that expands the eligibility of health and wellness options and can include coverage for fitness equipment, nutrition counselling or financial planning
- Support for professional development opportunities for all colleagues through a broad range of learning programs that include in-person and online training, leadership development, and support for colleagues’ well-being. IO will also cover the costs associated with up to two membership and licence fees per year for eligible colleagues if directly related to the employee’s role
- Access to a suite of virtual healthcare options to support non-urgent medical needs
This posting will close on
August 28, 2024.
The salary range for this position is
$99,800 to $149,700 with a corresponding job level of
M2
Exact compensation will vary based on skills, knowledge and experience
Interviews will be conducted on a rolling basis until the position is filled.
After reviewing the qualifications listed above, we want you to know that we understand you may not meet all the qualifications described, but still encourage you to apply, as you may have other relevant expertise and experience that you can bring to the role.
At Infrastructure Ontario, we strive to create a culture that encourages a diverse equitable and inclusive environment that fosters belonging. We believe that experience comes in many forms and through learning from each others’ differences and perspectives gives us strength. We are committed to enhancing our culture and encourage applications from all walks of life. Let us know if you require any accommodations for the selection process, by contacting the Talent Acquisition Team.
Candidates who are members of Indigenous, Black, racialized and 2SLGBTQ+ communities, persons with disabilities, and other equity deserving groups are encouraged to apply, and their lived experience will be taken into consideration as applicable to the posted position.
By submitting your application you are granting Infrastructure Ontario permission to process your personal data during the recruitment process and for keeping records of the process. Infrastructure Ontario may share your personal data internally to appropriate persons involved in the recruitment process and to third parties where there is an administrative or lawful basis for doing so. Provided that Infrastructure Ontario does not have any lawful reason to continue processing your personal data, you may make a formal request to rectify, erase or restrict (the processing of) your personal data.
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