Finance Business Partner (HYBRID)

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About the Workplace Safety and Insurance Board (WSIB)

We’re here to help. When an injury or illness happens on the job, we move quickly to provide wage-loss benefits, medical coverage and support to help people get back to work. Funded by businesses, we also provide no-fault collective liability insurance and access to industry-specific health and safety information. We are one of the largest insurance organizations in North America covering over five million people in more than 300,000 workplaces across Ontario. For more information, visit wsib.ca.

At the WSIB, you’ll have the opportunity to:

• explore many career paths and follow your passion
• continuously learn and grow professionally
• be recognized for the great work you do
• participate in programs that support your health and wellbeing

You’ll also receive a competitive salary, along with a comprehensive benefit package and defined benefit pension plan for permanent positions.

Recruiting for 1 permanent vacancy and 1 temporary vacancy up to 12 months

Salary From:  $107,373.00  

Job Summary :

The Finance Business Partner (FBP) is responsible and accountable to provide financial leadership, decision support, advice and guidance to the Cluster/Division in support of WSIB goals and objectives while ensuring overall fiscal responsibility.

Participate in the design/development of cluster strategies, business plans and objectives, solutions, policies, performance metrics, procurement, business analytics, procedures and processes related to the Cluster area to ensure the effective and efficient operation of the Clusters and WSIB overall.

Major Responsibilities:

Participate as a member of the Clusters’ senior leadership team as the Finance point of contact, providing comprehensive support to senior management on a variety of strategic, tactical, and operational matters related to Cluster and/or Board-level financial performance

• Provide sound financial advice even where there is limited information while understanding constraints, multiple perspectives and ambiguity of circumstances.
• Present and explain concepts and ideas both verbally and in writing to staff at all levels, including business performance using FBP built Cluster tailored dashboards, providing risk identification and mitigation recommendations.
• Champion a strong financial discipline mindset through education, and develop financial acumen in the business to enhance decision making and budget management. Influence the business cluster by providing guidance and facilitation in the adoption of best practices.
• Lead in the development of key business planning assumptions and provide advice to Cluster Chief on trade-offs, risks, opportunities and decisions.
• Align business operating budgets to the overall WSIB Strategic Framework by working closely and collaborating with Cluster VPs to build up from the branch and divisional levels.
• Provide Chiefs and senior management teams insights into the overall WSIB monthly financial performance including implications on KPIs i.e. sufficiency ratio, core earnings etc. Understand and provide further details on Cluster alignment to current enterprise performance.
• Foster and maintain professional relationships to build trust with the business, other support functions, and Finance colleagues.
• Complete a wide array of ad hoc requests driven by specific needs of the cluster at all levels and for finance management. 

Lead the business in, and perform quality assurance over the monthly variance analysis, quarterly forecast, and annual budget submissions by the business. This includes identification and implementation of continuous process improvement efforts to ensure understanding and effective monitoring of results required to meet business targets and objectives

• Promote and champion financial best practices through ongoing review and collaboration with the business on all aspects of budget management.
• Develop standardized user-friendly tools and provide guidance and the necessary training to the business to enhance their ability to manage their budgets effectively (i.e. quarterly forecast, monthly variance analysis, Cost & Benefit Analysis).
• Prepare or conduct reasonability analysis on Cluster-level monthly variance analysis and ensure accuracy and completeness for submission to the Financial Planning & Analysis group to be consolidated into the monthly and quarterly management reports to senior management and Board of Directors. Provide any additional analysis and reporting to meet Finance management needs.
• Prepare monthly headcount analysis for submission to Financial Planning & Analysis to be rolled up in the monthly and quarterly Senior Management report.
• Present financial performance and results including headcount analysis to Chief and Cluster senior management team and assist in the identification of risks and opportunities, and development of action required.
• Make recommendations and create specific reports tailored to management’s and business needs.
• Lead, facilitate and participate with the Cluster in delivering all financial reporting requirements on a timely basis.

Provide direction and support to the Clusters on project requirements, including collaborating with other areas of the organization such as the Enterprise Portfolio Management Office, IT Cluster, and Corporate Controllership in understanding requirements, as well as the development and fine-tuning of financial requirements and best practices within the end-to-end processes.

• Provide direction to the Cluster on navigating the broader end-to-end process on project management and reporting, in collaboration with the Enterprise Portfolio Management Office.
• Provide direction and assistance to the Cluster with the development and preparation of financial Cost & Benefit Analysis.
• Analyze implications to the Cluster as well as other areas of the organization, and provide recommendations and decisions.
• Apply professional skepticism and assisting the team on refining assumptions of the business case.
• Provide business recommendations to project teams such as identifying unrecognized opportunities & risks, considering alignment with WSIB-wide strategy, and ensuring support/analysis is available for senior management approval.

Provide interpretation and support in application of relevant WSIB administrative and accounting policies, while assisting the business in meeting its objectives and aligning to financial targets.

• Act as a financial control point to all cluster financial issues and inputs, and work with other Finance divisions (i.e. Corporate Controllership) as necessary to understand and apply relevant policies relating to financial matters such as expenditure requisitions and capitalization of costs.

Provide coaching to, as well as plan, prioritize and coordinate work, deliverables and performance of the Associate Finance Business Partners (AFBP)

• Provide effective leadership, fostering teamwork and a positive work environment, ensuring individual performance objectives are developed and employees are provided with appropriate guidance and development opportunities to achieve them.
• Provide advice, guidance and ongoing coaching and feedback to direct reports.
• Manage the recruitment of the AFBP roles to ensure positions are staffed appropriately and in accordance with WSIB policies.

Job Requirements

Education:

• University Degree in Finance or Accounting
• Chartered Professional Accountants(CPA) designation

Experience:

Minimum Level Required

• 8 years of planning & forecasting and financial reporting experience

Preferred Level

• 10 years of business partnering, financial analysis experience, risk management, project management, active support of senior management.

Our commitment to equity, diversity and inclusion

We respect and value the diversity of our people. We strive to create an environment where employees can be themselves and where our differences are celebrated.

The WSIB is committed to being accessible and inclusive, and following barrier-free and accessible employment practices in compliance with the Accessibility for Ontarians with Disabilities Act (AODA). Should you require accommodation through any stage of the recruitment process, please let us know when we contact you and we will work with you to meet your needs.

Disclosing conflicts of interest

As public servants, employees at the WSIB have a responsibility to act in an ethical way at all times to create a respectful workplace and maintain public trust. Job applicants are required to disclose any circumstance that could result in a real, potential or perceived conflict of interest. A conflict of interest is any situation where your private interests may impair or be perceived to impair the decisions you make in your official capacity. This may include: political activity, directorship, other outside employment and certain personal relationships (e.g. with current WSIB employees, customers and/or stakeholders). If you have any questions about conflict of interest obligations and/or how to make a disclosure, please contact the Talent Acquisition Centre at talentacquisitioncentre@wsib.on.ca.

Privacy information
We collect personal information from your resume, application, cover letter and references under the authority of the Workplace Safety and Insurance Act, 1997. The Talent Acquisition Centre and WSIB hiring parties will used this information to assess/validate your qualifications, determine if you meet the requirements of vacant positions and/or gather information relevant for recruitment purposes. If you have questions or concerns regarding the collection and use of your personal information, please contact the WSIB’s Privacy Office at privacy_office@wsib.on.ca. The Privacy Office cannot provide information about the status of your application.

As a precondition of employment, the WSIB requires that prospective candidates undergo a criminal records name check any time before or after they are hired.

To apply for this position, please submit your application by the closing date on the WSIB Careers Page: https://www.wsib.ca/en/careers.