Manager/Senior Manager, Investment Accounting
British Columbia Investment Management Corporation (BCI) offers an exceptional opportunity to work at a world-class organization while living in a west coast setting. With $233 billion of gross assets under management, BCI is the provider of investment management services to British Columbia’s public sector. We invest globally across a range of asset classes and strategies in public and private markets. BCI generates the investment returns that help our British Columbian public sector clients build financially secure futures.
The people who work at BCI are committed, passionate, and approachable. They aim for continuous improvement and share BCI’s core values of clients first, performance focused, world class, accountability, transparency, and integrity. Being recognized as one of Canada’s Top 100 Employers, Canada’s Top Family-Friendly Employers and BC’s Top Employers exemplifies BCI’s ongoing commitment to be a progressive workplace of choice; one that attracts, retains, and promotes talent so that we can continue to work towards meeting our clients’ financial goals. As an active in-house asset manager, BCI depends on specialized skills and expertise to successfully execute its world-class investment strategies and fulfill client needs. We are currently expanding our team and our skill base to equip BCI for the future.
Step into the world of investment accounting at BCI, where you'll handle pooled funds and segregated investments for our clients. You will use your expertise to analyze and evaluate our clients, investments, structures, and processes to maintain accuracy and completeness of our financial records.
The Finance department is part of BCI Operations and is responsible for investment and corporate accounting, valuations, as well as financial statements and financial reporting to our clients. The team also leads BCI’s budgeting process, finance client engagement, finance operations, investment performance and analytics, procurement, tax structuring and tax compliance. Working with our internal business partners, auditors, and external advisors, the Finance department strives to be a trusted advisor to our internal and external clients by providing timely, accurate, and relevant financial information and analysis.
The Investment Accounting branch manages the accounting activities of our liquid asset classes (Fixed Income and Public Equities), illiquid asset classes (Global Partnership Fund, Infrastructure & Renewable Resources, Private Credit fund, Private Equity, Real Estate, and Real Estate Debt), and external clients.
Reporting to the Director, Investment Accounting, this position leads a team responsible for delivering timely, complete, and accurate accounting for pooled funds and segregated investments held by BCI clients.
The Manager applies generally accepted accounting principles, industry standards and professional judgment to support accounting and net asset valuation of investments. Operating within tight deadlines and competing priorities, the Manager ensures that internal controls operate effectively. The Manager provides coaching, supervision, training, and direction to the team, and assists team members with accounting and valuation issues, problem resolution, and recommendations where appropriate. The Manager collaborates with other branch Managers to ensure that branch objectives are met and liaises with operational groups and asset class departments to address emerging issues, priorities, and problem resolutions.
The Senior Manager provides supervision and oversight to the team responsible for daily validation of net asset values under management in the accounting book of record. The Senior Manager ensures a strong internal control framework and evaluates it in the context of evolving business processes and investment products. Acting as a key contact for the branch in communicating with stakeholders, the Senior Manager resolves short- and medium-term issues, identifies and implements improvements in team and inter-team workflows and processes, and leads branch representation, oversight, and delivery for department and corporate projects and initiatives.
WHAT YOU BRING
- University degree or diploma in a related field
- A professional accounting designation (CPA) or equivalent
- 6-8 years of relevant accounting experience, with progressive management responsibilities in team management including resource and performance management
- Direct investment accounting experience in an investment manager environment
- Direct experience in investment accounting for Infrastructure & Renewable Resources and Private Equity
- Experience with direct investments, indirect funds, valuation, accounting and reporting for complex multi-owner unitized investment structures
- Strong technical understanding of net asset valuation methodology
- Strong change management skills
- Service-oriented mindset, with sound judgement and focus on high-quality work
- Strategic and proactive, with strong critical thinking skills to analyze problems and tackle challenges in innovative ways
- Initiative, inquisitiveness, and drive to thrive in a fast-paced environment with competing priorities and deadlines within a team
- Ability to lead, coach, and develop a high performing team of motivated professionals
- Excellent interpersonal and organizational skills, highly efficient, with strong attention to detail
- Proactive approach to increasing efficiencies in work processes
- Advanced level Excel skills
- Experience with SimCorp Dimension, in particular fund administration, reconciliation, and general ledger functionality
- Experience with Power BI or other data analytics and visualization tools
- Knowledge of IFRS
WHAT YOU GET TO DO
- Leads day-to-day operations for the team including performance of internal controls in reconciling and validating valuations of investments in various entities
- Liaises with business units across BCI to identify new or emerging business requirements arising from accounting for new investments and structures and recommend solutions
- Proactively plans with the Director to ensure significant workload and competing priorities are completed within agreed-upon timelines and delivery dates
- Motivates and empowers a team of professionals to complete work effectively and efficiently, while modeling and fostering a culture of continuous improvement
- Leads strategic initiatives that will increase efficiency, accuracy and timeliness of branch and team deliverables, including workflow standardization and automation
- Promotes a culture of internal respect and external service excellence
- Ensures branch adherence to internal controls and policies and ensures process documentation is current
- Collaborates with business units across BCI to develop strong working relationships and to add value to overall corporate operations
- Reviews trends and changes in investments and investment structures, to support management analysis for internal and external clients
- Ensures process documentation is up-to-date and adheres to internal controls and policies
- Collaborates with vendors, teams, and departments to develop requirements and test solutions within the SimCorp Dimension testing and production environments
- Maintains in-depth knowledge of clients and asset classes including investment objectives, reporting requirements, investment processes, instruments and structures
- Maintains in-depth knowledge of finance concepts, procedures, reporting and the end-to-end processes and technologies that support the finance function
- Develops, maintains, and continuously improves financial solutions and processes aligned to client and asset class objectives
- Transforms complex financial information into value-added business intelligence and reports for clients and asset classes through comprehensive analysis and integration of quantitative and qualitative information
- Identifies and addresses risks and ensures all reporting and processes meet the audit and internal control framework and adhere to compliance and risk management best practices
- Reviews year end distributions and other tax calculations/information prepared by team
- Provides timely updates/issues to reporting manager
- Contributes to other tasks and initiatives as required by the Investment Accounting Branch or Finance Department
- Senior Manager will act as Director, Investment Accounting as required, providing leadership and guidance in their absence
WHERE YOU WILL WORK
Work in our collaborative team from our downtown Victoria office.
BCI offers a competitive total rewards package which includes a performance-based incentive plan, comprehensive health & dental benefits, a defined benefit pension plan and paid time off.
Depending on the skill level and relevant experience the successful candidate will be hired at one of the following levels with the annualized base salary range for this Victoria-based role.
- Manager– CAD $95,000 - $125,000
- Senior Manager – CAD $115,000 - $145,000
The base salary offered to the successful candidate will consider a wide array of factors including but not limited to the individual’s skill set, level of experience applicable to the role they are being offered and consideration to internal equity.
We pay our people competitively in the markets in which we compete for talent and with consideration to internal equity and job structure. We aim for actual pay to be around the median of the market for target or expected levels of performance, and around the upper quartile of the market for excellent performance.
Actual salaries may vary and may be above or below the range based on various factors, including, but not limited to, experience and expertise.
WHY APPLY TO JOIN BCI
With our values as our anchor, it’s our people that help shape employee-focused initiatives and who create the environment we work in each day – all of which further strengthens our culture. BCI has been recognized as one of Canada’s Top 100 Employers – for the fifth consecutive year - and has built programs and benefits to support all our employees, including;
- Extended health and dental coverage, start on your first day of work. We have you covered!
- Our telehealth provider Dialogue connects you and your family to virtual healthcare appointments.
- Eligibility to the defined benefit BC Public Service Pension Plan providing you with a secure retirement income.
- Time off includes: 20 days vacation, 6 paid sick days, 6 paid personal days, and 2 paid days for volunteering – to support physical, mental, and community health.
- Work one day per week from home, plus an option to work from anywhere for up to one month each calendar year.
- Annual wellness allowance to support an active lifestyle as well as physical well-being when working at home.
- On-going learning through our in-house mentoring program, professional dues support, and online and in-house learning.
- Invested in your learning: BCI investment professionals lead a monthly Investment Club to share industry knowledge with employees who work in other departments.
- Relocation support is available
Apply online and provide a resume and a cover letter.
We will be reviewing resumes as they come in. We anticipate screening interviews in mid-February and looking forward to welcoming a new team member in March 2024.
CLOSING DATE: February 13, 2024
At BCI, we value diversity and believe in fostering an inclusive culture where all employees can be successful.
We are performance and client focused and value integrity; if you share these values, we want to know you.
We recognize that some skills can be learned on the job and encourage all to apply.
If you require an accommodation for the recruitment process (including alternate formats of materials, accessible meeting rooms or other accommodations), contact us at firstname.lastname@example.org.
We would like to hear from you!