Team Lead, Accounts Payable

WHO WE ARE      

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.  

OUR VALUES, OUR PASSION

At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.

• Customer-Focused. Passionate Advocates 
• Courage to Act. Do the Right Thing 
• One Team. One Vision 
• Think Long-Term. Ever-Evolving 
• Be Exceptional. Inspire Greatness

 POSITION SUMMARY:

Reporting to the Senior Manager Accounting and Operations, the Team Lead, Accounts Payable will be accountable for all aspects of the accounts payable function for the Bank, including overseeing the entire end to end AP process, and responsible for accounts payable related internal controls and audit process.  The Team Lead, Accounts Payable will be accountable for managing the day-to-day activities of the accounts payable department, promote continuous process improvements, including training and managing individual performance.

MAJOR ELEMENTS OF THE ROLE:

Accounts Payable Processing

• Process accounts payable transactions; solve all invoice or payment requisition issues with the related department and ensure correct account coding and authorization is applied.
• Oversee weekly EFT, wire payments, direct deposits and cheque runs, obtain approvals, and process payments.
• Process corporate credit cards and perform Visa account reconciliation and analysis.
• Approve vendor setups and changes.
• Verify details for invoices and/or contracts before final payments are released.
• Oversee all vendor payment issues and ensure timely payment of invoices.
• Ensure employee reimbursements are in accordance with internal policies and procedures and properly approved.
• Prepare A/P sub-ledger reconciliation with the general ledger.
• Respond to inquiries and provide updates to internal stakeholders, when necessary or as requested for daily AP activities, such as invoice processing, and vendors, set up, managing invoice approval workflows, etc.
• Build relationship and liaise with multiple Business Units and vendors, where necessary.
• Oversee proper record-keeping, filing and storage for AP documents.

System Administration

• Perform functional administration of the AP system (e.g. maintain user accounts, manage user access right).
• Provide end user training.
• Maintain and create AP system reports to provide detailed AP analysis.
• Continuously look to improve efficiency and build controls within the process.

Internal Controls and Reporting

• Ensure effectiveness of internal controls within Accounts Payable and support in implementing system controls and integrity.
• Assist with expense variance explanations and provide information and reports to internal and external auditors, as required.
• Update and maintain internal standard operating procedures.
• Prepare and report monthly Dashboard (KPIs and KRIs).
• Other duties and projects as assigned from time to time.

SKILLS AND EXPERIENCE REQUIRED:

• Bachelor’s degree in accounting.
• Progressive experience in an Accounts Payable function (Financial Services preferred).
• Have a controls mindset and ability to analyze accounting information.
• Demonstrated experience with Workday ERP system preferred.
• Working knowledge of MS Office suite of products.
• Excellent interpersonal and verbal/written communication skills.

Working Conditions Unique to Job:

• Hybrid office environment

WHY WORK AT HOMEEQUITY BANK?

Great Environment

HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility – an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.

We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
 

A Dynamic Culture – With People at the Centre  

We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023. 
 

Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.  
 

Celebrating Great Work and People

We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.

From our Appreciate! Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.

Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. Additionally, we provide employees with one paid day off each year to volunteer at their favourite local charity.

The Perks

HomeEquity Bank offers a competitive total rewards package that includes:

• Extended health and dental benefits
• Employee & Family Assistance Program
• Employer-Matched Group Retirement Savings Plan
• Employee Share Investment Plan
• Well-being initiatives including: a wellness account; virtual self-care programs and extended mental health benefits
• Employee corporate discount for GoodLife Fitness  

HomeEquity Bank is committed to an inclusive, equitable and accessible workplace. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Please note that our successful candidate is required to complete a background check.

Stay in the Know

Find out what we’re up to online, and learn more about what makes HomeEquity Bank a great place to work:

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Join Us! If you’re ready to build the future of reverse mortgages, we want to hear from you.