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Finance Director / Controller At Farsali

Location: Toronto, Ontario

Job Description

WHO WE ARE:

FARSÁLI was created to bridge the gap between makeup and skincare. Since our launch, we have transformed the beauty world with innovative, naturally inspired, exceptional quality formulas that have quickly become a staple in every beauty routine. As a brand, we are growing at an astonishing pace – rapidly expanding to markets and retailers worldwide. As a team, we are passionate, hard-working, synergistic, and supremely focused on building an amazing company.

WHO YOU ARE:

You are a driven, organized, collaborative individual who can lead the Finance department of FARSÁLI. In this role, You will be responsible for supporting the full cycle accounting function of the consolidated group of companies, with the utilization of multiple financial systems – including QuickBooks Online, FathomHQ, Bill.com, Plooto, Avalara, Expensify, and Inventory and Payroll software. You will demonstrate effective leadership qualities to lead our bookkeeper and finance consultants. You will also demonstrate superior communication skills to manage the departmental budgets with their respective heads. The ideal candidate for this role is highly organized, can multi-task effectively, and is excited by the opportunity to work for a growing entrepreneurial business. You should be technically minded, self-motivated, and able to multitask in a fast-paced, constantly changing environment.

WHAT YOU WILL DO:

BOOKKEEPING / FINANCIAL REPORTING:

  • Oversee the accuracy of day-to-day bookkeeping within QuickBooks Online and bill approvals in Bill.com
  • Oversee and sometimes perform the monthly reconciliations of Cash, A/R, A/P, Inventory, and other key Accounts
    • Manual/adjusting entries for Sales (Retail), Expenses (Stripe fees, sales tax payments), Inventory (components, shrinkage), as required
  • Inventory accounting – Assist in future implementation of inventory management system; and ensure key processes (i.e. periodic reconciliations) are placed in order ensure accuracy and timeliness of inventory reporting
  • Take full responsibility of the month-end closing process, and ensure all deadlines are met and timely/accurate information financial information is provided to upper management
  • Monthly consolidation of group of companies within FathomHQ
  • Compile financial statements/reports per request of upper management:
    • Monthly financials
    • Develop and maintain forecasts
    • Develop and maintain budgets vs. actual
    • Provide valuable insight for high-level decisions of capital expenditures, pricing strategies, etc.

COMPLIANCE / TAX / RISK MANAGEMENT

  • Managing bi-weekly payroll & other HR-related issues, as needed
    • Workers' compensation/disability insurance management
  • Managing sales tax returns and coordination with Avalara (US) and any HST returns (CA)
  • Collecting and maintaining records of W9s/W8-BEN from vendors/independent contractors (US)
    • Ensuring payments are tracked for 1099 filing/reporting (US)
  • Work with external accountants to ensure all tax filings and payments are made within deadlines and accurately
  • Take a global approach to compliance in the different regions we have exposure to, and research any requirements accordingly
  • Full ownership or any Treasury and Risk Management functions, including product and liability insurance
  • Oversee and recommend effective internal controls on Company assets

ACCOUNTS RECEIVABLE

  • Accurately maintain receivables from wholesale/retail customers
  • Ensure accuracy of invoices, amounts, and balances; and account for any discrepancies
  • Follow-up with overdue receivables

ACCOUNTS PAYABLE & EXPENSE MANAGEMENT

  • Accurately maintain record payables & supporting documentation
  • Manage Bill.com (and Company billing e-mail) on a day-to-day basis for invoice documentation and ACH payment of U.S. vendors
  • Initiate wire payments via telephone to approved vendors
  • Employee expense management/reimbursements in accordance with Company policy via Expensify

OTHER

  • Resolve/account for any discrepancies between the systems on an ongoing basis
  • Cash flow forecasting
  • Any management and/or Board reports
  • Maintain any investor/debtor relationships
  • Negotiation of contracts for both vendors and customers, and all ongoing Finance relationships
  • Suggest areas for improvements, and operational efficiencies
  • Develop/finalize accounting process manual
  • Direct report, questions or escalate any issues to CFOO on ongoing basis

WHAT YOU BRING WITH YOU:

  • 7+ years experience in full-charge bookkeeping; full-cycle accounting, including A/P and expense management
  • 3-4+ years exposure to financial reporting, forecasting, budgeting
  • High proficiency in technology and IT with relations to Finance, as opposed to manual processes/systems
  • Leadership qualities to manage and oversee the Finance department
  • Experience working with retailers a plus (i.e. chargeback reports, testers/damages)
  • Experience with e-commerce (Shopify) & wholesale businesses considered a plus
  • Knowledge of Generally Accepted Accounting Principles (GAAP) & International Financial Reporting Standards (IFRS)
  • Excellent logical analysis and problem solving skills
  • BA or Masters degree in Accounting or similar
    • CPA is a plus
  • Demonstrates outstanding attention-to-detail and accuracy