Financial Analyst IIRequisition ID: 39542
Located on the traditional, ancestral and unceded lands of the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), and səlilwətaɬ (Tsleil-Waututh) Peoples, Vancouver has a commitment to becoming a City of Reconciliation. Vancouver consistently ranks as one of the world’s most liveable cities and is working towards being the greenest city in the world. Named among Canada's Top 100 Employers, BC's Top Employers, and Canada's Greenest Employers, the City of Vancouver seeks colleagues who can help shape and embody our core commitments to sustainability, decolonization, equity and outstanding quality of life for all residents.
Consider joining our committed team of staff and being part of an innovative, inclusive and rewarding workplace.
Main Purpose and Function
Reporting to the Director of Financial Planning and Analysis Citywide and Business Units, the Financial Analyst 2 is responsible for supporting the preparation of the Capital Budgets for City of Vancouver along with other aspects of financial planning and analysis.. The Financial Analyst 2 is responsible for leading specific FP&A functions including short-mid term planning, budgeting, forecasting, financial modelling and decision support for processes and initiatives. Working closely with other members of the Citywide and Business Unit (BU) FP&A, the main functions of the role include leading respective business area, support the development of the City’s annual budget and mulityear plan process, support monthly and quarterly financial reporting process, and analyzing key business issues impacting service delivery and financial performance with recommended actions. The analyst plays a key role in supporting the development of Service Plans that link to the Corporate Plan, linking effective operational & performance metrics to financials, continuous process improvement, and other initiatives.
The position plays a key role in ensuring compliance with internal controls, policies, standards and business processes and systems. The position provides financial decision support to enable the City to meet its strategic objectives and goals and leads the development of policies and processes to support the effective financial management of departmental resources.
Strategic Financial Analysis:
- Defines and uses logical and innovative approaches to evaluate and deconstruct accounting and business situations. Compiles and links analytical information, experience and insights using quantitative and qualitative reasoning skills
- Demonstrates understanding and application of common quantitative techniques by preparing appropriate financial analysis with fact based assumptions to enable decision making
- Provides input into the formation of problem-solving approaches for business situations
- Accurately analyzes a situation based on available data or information
- Leads the problem-solving process by identifying alternatives and making recommendations
- Consistently applies working knowledge of the organization's information systems & appropriate financial tools and systems to find, extract, and analyze data and to produce reports
- Applies basic modelling, forecasting and planning techniques to develop forecasts with cost drivers identified and explained
- Supports management in developing and analyzing business cases, determining the financial implications for all major decisions, ensuring value for money, return on investment, productivity and service delivery analysis, quantifying impacts on budgets and forecasts
- Presents financial related information to Director, FP&A, CFO, Senior Leadership Teams, and other stakeholders as required.
- · Reviews and recommends improvements to internal controls, City policies, business processes & procedures. Works across and consults with various business units to implement improvements.
Strategic Business Partnership and Decision support
- Demonstrates in-depth understanding of the organization's business plan, immediate environment and the possible impact of events and activities on the organization; understand current role in relation to executing the business plan.
- Applies common business principles to critically evaluate and accurately perform analysis
- Uses insights to influence the views of managers and provides guidance and support, supported by facts, to influence and lead business decisions
- Ability to apply decision criteria to business propositions prepared by business units
- Lead in explaining financial concepts and analysis in non-financial terms to counterparts
- Identify and address additional business partner needs as they arise
Planning, Budgeting, Forecasting and Performance Measurement:
- Leads, manages, and coordinates all aspects of a department’s operating and capital budget process; works with subject matter experts to provide inputs and assumptions and manages and monitors Operating & Capital budget expenditures, revenues and recoveries
- Manages and prepares monthly, quarterly, and year-end variances analysis, forecasting and reporting; presents and reviews results with general manager and department leads; works to identify significant risks, and recommends mitigation strategies and raises to appropriate stakeholders
- Provides financial and budget management to support major project leads
- Sets up WBS numbers for approved capital project and creates orders for each project manager to support project budget management and monitoring
- Manages and supports the development of the City’s multiyear financial and business plans and forecasts, review and validate financial assumptions and models, and identify trends that impact the Department’s ability to meet budget and service delivery targets
- Leads and manages analysis of budgets, performance indicators, business plans and ongoing financial results to enable strategic recommendations on corrective actions
- Interpret and provide forecasts and analysis that link to business unit strategy and operational performance
- Complies with and administers Finance controls, policies and procedures
- Supporting the City’s Service Planning process including linking the Service Plans to performance metrics, budgets Departmental workplans, and other corporate planning processes.
- Participating in the four-year capital planning process that supports and implements long term capital plans
- Responsible for building maturity in the understanding of unit cost to support the delivery of capital plan outcomes at a lower unit cost
Project Management and Process improvement:
- Supports and manages planning process timelines and identify opportunities for continuous improvement and standardization for business area
- Identifies and implements opportunities for process automation/streamlining and support integration with financial reporting, capital budgeting, and long-term financial planning initiatives
- Communicate budgeting policies and processes to Department FP&A and City staff; support planning processes improvement initiatives throughout the organization
- Manage FP&A projects and sub-process
Council Reports and City Manager Minutes:
- Works diligently with department stakeholders in the development of Council Reports and City Manager’s Minutes to ensure operational and strategic alignment with city objectives
- Provides and validates financial implications and funding sources
- Reviews overall quality of report from a strategic perspective and makes recommendations for improvements
- Manages and over-sees implementation of Council decisions that have financial implications
- Other duties/responsibilities as assigned
Education and Experience:
- Bachelor’s Degree in Business Administration, Finance, or related discipline
- Professional Accounting Designation or MBA with a combination of experience and education related to the requirements of the position
- Minimum 8 years post designation experience in budgeting, financial analysis, forecasting, reporting, and accounting
- Advanced financial systems experience preferably within an ERP environment - experience with financial modules of SAP would be an asset
- Strong business case analysis experience
- Good working knowledge of generally accepted accounting principles as they relate to local government including PSAB
- Advanced financial modelling and Excel skills
- Advanced experience with preparing complex presentations and writing formal reports for senior management and Council
- Considerable experience in presenting to Senior Leaders and department stakeholders
- Advanced project management experience
Knowledge, Skills and Abilities:
- Strong business acumen and capability to link finance to the business
- Superior critical thinking skills, ability to analyze complex situations and determine appropriate course of action where there is little or no established precedents
- Ability to strategically answer complex business problems through data analysis, modelling and creative thinking
- Superior verbal and written communication skills, ability to communicate complex financial concepts in simple terms
- Proven ability to work strategically with the business, build relationships, and be a trusted business partner
- Must be able to work independently and as a member of a Finance and Business Unit team
- Excellent organizational and project management skills with ability to manage multiple tasks with competing priorities
- Must be able to take accountability to complete assignments and take ownership of challenges to the point of recommendation, resolution, approval and implementation
- Ability to maintain professionalism, objectivity, confidentiality, tact and diplomacy
Where operationally appropriate and subject to change, the City of Vancouver has a Flexible Work Program. This program allows staff to work remotely 1 – 4 days a week from locations that are a daily commutable distance from their work at a City worksite. At this time this position is eligible to be part of the Flexible Work Program.
The City’s COVID-19 vaccination policy is currently suspended and as a result, vaccination against COVID-19 is not required at this time. However, should circumstances change and the City deem it necessary to re-introduce such policy, you may be required to provide proof of vaccination against COVID-19 in order to be eligible to continue performing your duties.
Business Unit/Department: Finance, Risk & Supply Chain Management (1150)
Employment Type: Regular Full Time
Salary Information: Pay Grade RNG-091: $106345 to $132936 per annum
Application Close: Open until filled
At the City of Vancouver, we are committed to recruiting a diverse workforce that represents the community we so proudly serve. Indigenous peoples, people of colour, 2SLGBTQ+ persons including all genders and persons with disabilities are encouraged to apply. Accommodations will be provided upon request during the selection process. Learn more about our commitment to diversity and inclusion.
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In addition to uploading your cover letter and resume, part of the application process may include answering application questions related to the preferred requirements of the role which may take approx. 5-10 minutes. Cover letters should express interest and highlight additional information relevant to the position and resumes should include a summary of skills and experience related to the position.
Financial Analyst II
5 years or more
Remote work available
$106,345.00 to $132,936.00 Year
November 1, 2023, 9:13 am
December 1, 2023, 4:30 pm