Director, Finance

  • 247 E Main St, Welland, ON L3B 3X1, Canada
  • Full-time

Company Description

Why join PenFi

We have a lot of reasons to be proud to work here.

  • We have a generous benefits package, defined contribution pension plan and performance based success sharing to wellness days and allowances and leadership and learning development investments
  • Local is everything. We're all about working with local businesses and partnering with our communities to make them strong and vibrant
  • As a credit union, living the co-operative principles are part of our long and rich history
  • We develop meaningful relationships with our co-workers and members - that means learning about their passions, families, ambitions and doing what we can to improve their lives
  • We have a unique culture where we take our business seriously, but we like to have a little fun along the way
  • Education is a priority and we offer an abundance of leadership and professional development programs and training to help you be the best you can be
  • Corporate Social Responsibility is alive and well. From our partner Socks for Change to delivering financial literacy to new Canadians, to reducing our impact on the environment to being the official sponsor of the Niagara 2022 Canada Summer Games - we donate our time, money and expertise
  • We are all PenFi ambassadors and we live our truly local brand from the inside out

Who we are

PenFinancial Credit Union has been helping Niagara grow for over 60 years. With nearly 20,000 Members, and a rich history, our roots are firmly planted and our future is strong. As a values-driven co-operative we believe the prosperity of our Members and our community go hand in hand, and we’re on a mission to improve lives and strengthen communities.

Job Description

Leads the operations of the finance and accounting functions for the Credit Union by designing, developing and/or administering all reports and systems necessary to maintain control of all accounting and audit functions.

Differentiating Accountabilities:

1. Leadership responsibilities

  • Serves as direct supervisor to the Accounting Analyst role.
  • Proactively coaches to support the personal growth and development of direct reports including coaching and performance management, career planning and develop a highly engaged, diverse and capable team to execute departmental plans/strategies and build strong relationships with others/members.

2. External financial reporting

  • Responsible for all data gathering and analysis necessary for accurate and timely completion of all monthly and annual reporting for the Financial Services Regulatory Authority of Ontario (FSRA) including but not limited to the Monthly Information Return (MIR) and Annual Information Return (AMIR).  Ensures that all data points are properly supported by a documented audit trail.  Requires advanced Excel and problem-solving capabilities.
  • Completes the comprehensive quarterly loan reporting to Canada Mortgage Housing Corporation (CMHC).  Requires demonstrated success in producing highly accurate reports in a time-sensitive environment.
  • Responsible for completion of various federal government reporting requirements including but not limited to the annual HST returns and quarterly StatsCan surveys.
  • Supports the completion of the annual external audit as required.

3. Internal financial reporting

  • Responsible for completion of a wide variety of financial reports for the Board of Directors including but not limited to capital risk report, structural risk report, liquidity risk report and investment reports.
  • Responsible for design, completion and distribution of the monthly internal financial reporting materials for cost center leaders such as retail branch managers.  Requires experience summarizing and communicating complex financial information in a meaningful way.
  • Supports the completion of various internal audits as required.

4. Securitization.

  • Responsible for the accurate and timely completion of the required complex monthly securitization reporting and related journal entries.  Requires a keen attention to detail and the ability to quickly and accurately investigate and resolve anomalies.
  • Leads the process of creating new securitized pools as required by compiling key data points.

5. Accounting and payroll administration.

  • Completes highly complex monthly bank reconciliations including all investigation of reconciling items.
  • Responds to requests to overrides for large or unusual transactions.  Requires professional judgment and a strong understanding of Credit Union transactions and control environment.
  • Co-ordinates requests-for-proposals for various services used by the Credit Union including ensuring user needs are clearly communicated in the relevant documents, serving as primary liaison with prospective vendors and guiding stakeholders through the evaluation of proposals and selection of provider.  Requires the ability to communicate in writing and verbally with a wide variety of stakeholders.
  • Develops and implements changes to accounting procedures as needed.
  • Serves as back-up for payroll and accounts payable function.
  • Performs other accounting tasks as required.

6. Planning and budgeting.

  • Supports annual operating budget creation process including liaising with budget developers across the organization and use of financial institution budgeting software.  Requires the ability to quickly learn complex software and the application of professional judgement in evaluating the appropriateness of budgeting assumptions.
  • Serves as a member of the Asset-Liability Committee (ALCO) and the Enterprise Risk Management Committee (ERMCO).


  • Perform other assigned responsibilities.


  • University degree or equivalent experience in a business/finance environment
  • Chartered Professional Accountant (CPA Designation)
  • 10+ years of accounting experience in a leadership role

Additional Information

To learn more visit

While we welcome all applications, only those who are selected for an interview will be contacted.

Accessibility accommodations will be made for job candidates upon request.