Senior Billing & Systems Specialist
Permanent
30 Adelaide Str, East
Toronto, Ontario, M5C 3G9
Canada
Who we are
With its global headquarters in Toronto, Canada, International Financial Data Services (IFDS) is a world-leading provider of outsourcing and technology solutions to the financial services industry. IFDS services over 240 financial organizations around the world, providing solutions to a wide range of global asset managers, wealth managers, banks, and insurance companies. With employees and partners located throughout Canada, Europe, and Asia-Pacific, the IFDS enterprise supports more than 17 million accounts with AUA of approximately CAD $4 trillion. IFDS Canada, Ireland, and Luxembourg are 50/50 joint ventures between Boston-based State Street Corporation, one of the world’s leading providers of financial services to institutional investors, and Connecticut-based SS&C Technologies, a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries.
Imagine yourself at IFDS
Come experience a community like no other at International Financial Data Services (IFDS). We offer work opportunities driven by a passion for creating market leading financial solutions, and a culture that nurtures collaboration, accountability, diversity & inclusion, and continuous learning. We’ll provide you with opportunities to develop your career. From ongoing training and development programs to experiences working with our global financial services partners, you’ll be able to realize your full potential.
Role Overview
Finance Team
We are a strategic business partner. We provide relevant data, analysis and make recommendations to IFDS’ internal stakeholders in order to assist the business in making informed decisions and achieving their financial objectives. Collaborating with the business and offering solutions that minimize or mitigate financial risk.
The incumbent’s primary focus is to strive towards effective delivery commitments to our stakeholders. Engage with Executives, Senior Management and stakeholders to improve transparency of business function and provide financial support to identify risks/opportunities. Actively participate in projects and initiatives that will automate and improve the billing system. Lead the maintenance and enhancement of billing and revenue accounting processes. Other duties will include maintenance and updates of databases, as well as regular day to day deliverables as assigned.
Role Responsibilities
Core Responsibilities-Invoicing, AR and Billing System Management
- Communicate and collaborate regularly and clearly with stakeholders (Canada Datawarehouse, Operations, BDRM, CAM, FP&A finance team) and other cross-functional teams to ensure accurate and timely revenue recognition
- Actively monitors client accounts receivable and reach out directly to external clients or internal stakeholders to address overdue accounts and escalate related party issues as required
- Maintain and update record databases, ensuring completeness, accuracy and confidentiality of records in accordance with information, communication and document control policies and procedures
- Lead the maintenance and enhancement of billing and revenue accounting processes(HiAffinity, PEBBLE)
- Engage and escalate with Operations, BDRM and CAM during invoicing process any unexpected variances to ensure billing accuracy and timely adjustment as needed
- Actively participate in billing systems project initiatives ensuring billing concern and any manual workaround will be heard for a possible automation and process improvement
- Provides ad hoc requests to support Client Experience Group (BDRM & CAM) that will help the team’s various strategic initiatives
- Oversee and manage the end-to-end Order to Cash (O2C) process, ensuring accuracy and compliance with company policies and accounting standards
- Conduct monthly client billing data validation ensuring all billing adhere to client contract terms
- Create client invoices for all four IFDS entities (Canada, LP, Lux and Ireland)
- Manage client accounts and actively monitor changes in client agreements to ensure all services and products are accurately and completely billed to the client accordingly
- Work closely and comfortably with Executive and Senior Management and other cross-functional partners to improve transparency of business and provide financial support to identify risks/opportunities
- Communication conduit between Finance and other cross-functional business partners and provide expertise and oversight of billing module to ensure billing accuracy and collection in the most efficient manner
- Collaborate with key cross-functional stakeholders at all levels to resolve issues or identify and implement opportunities that improve operational processes
- Provides ideas / recommendations for enhancements to corporate policies / procedures to minimize or avoid revenue leakage
- Oversee data stewardship and data governance activities to establish full understanding of operational and billing drivers (i.e. iFast, Chorus, T & M)
- Review and manage intercompany transactions and reconcile the intercompany accounts
- Participate and support new client onboarding project focused on reducing revenue leakage and identify revenue related risks, recommend, implement and monitor any corrective actions
- Participate and monitor special projects and initiatives as needed, including system upgrades and process improvement
- Support the annual audit process and liaise with external auditors and other parties to provide necessary documentation and explanations
- Ensures adherence to client contract terms for billings and in accordance with IFDS policy
- Prompt and vigorous collection of aged accounts receivable
- Ensure all credit request approval is received and in-line with the IFDS policies and procedures
- Oversee and manage all the client CPI and TLR annual letters and ensure CPI rates apply as required by the client contract
- Lead and support ad hoc projects as needed to drive process efficiencies
- Identify, recommend, and implement opportunities for improvement and participate in the deployment of new modules and processes
Minimum Qualifications
- Bachelor’s degree in accounting, Finance, or a related field
- Minimum of 7-10 years of relevant work experience, preferably within the finance, service or IT industry
- Knowledge of Enterprise reporting applications (Sage 300 or equivalent), advance Excel skills
- Build strong relationships with stakeholders, internal and external
- Excellent communication and interpersonal skills, with the ability to collaborate effectively with Senior Management
- Hands on, operations/project focused experience. Passion for hands on operational partnering with business leaders
- Experience analyzing, manipulating, transforming, and interpreting large and complex datasets
- Excellent judgement, problem solving skills, and attention to detail
- Reporting, streamline invoicing process and suggest process improvement
- Excellent organizational skills and ability to prioritize and manage multiple tasks to meet deadlines
- Results oriented - ability to make and meet commitments, and to meet deadlines
- Ability to work effectively in a team-oriented environment
- Analytical/ Systematic – takes logical approaches to analyzing problems, organizing work and planning action
- Proficient in PC software applications (eg. spreadsheets, database management, word
- Communication – excellent verbal and written communication skills/ ability to present ideas and recommendations clearly and persuasively
Important
- Conceptual – identifies and sees the relationships among key issues while understanding the big picture
- Ability to adapt quickly to changing situations and adjust schedules and plans to accommodate changing conditions
- Service oriented – anticipates and works to meet the needs of internal and external customers in a timely manner
AODA Statement
IFDS Canada encourages applications from all qualified individuals. Applicants with disabilities may notify us of any accommodation needed to support your participation in the recruitment process. We wish to thank all applicants for their interest and effort in applying. Please be aware that only candidates selected for interviews will be contacted for this position.
