Financial Analyst

Overview

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What We Offer : At Magna, you can expect an engaging and dynamic environment where you can help to develop industry-leading automotive technologies. We invest in our employees, providing them with the support and resources they need to succeed. As a member of our global team, you can expect exciting, varied responsibilities as well as a wide range of development prospects. Because we believe that your career path should be as unique as you are.

Group Summary

Transforming mobility. Making automotive technology that is smarter, cleaner, safer and lighter. Magna Powertrain is a premier supplier for the global automotive industry with full capabilities in design, development, testing and manufacturing of complex powertrain systems. Our name stands for quality, environmental consciousness, and safety. Innovation drives us and we drive innovation. Dream big and create the future of mobility at Magna Powertrain.

Job Responsibilities

Mission of the Position : The Financial Analyst provides financial planning and analyses for the Toronto Engineering Center located in Markham, Ontario. This role involves monitoring financial data against plans, forecasts, and budgets, as well as gathering, organizing, and documenting relevant financial information. The analyst identifies trends, explains financial results, and prepares detailed reports and presentations for review by management at all levels. Additionally, they consolidate operating and financial projections to support the development of short-term and long-term business plans. In addition, this position will assist with administration activities related to the Toronto Engineering Centre.

Key Responsibilities

Accounting

• Receive and verify invoices and requisitions for goods and services
• Verify transactions comply with financial policies and procedures
• Process posting of invoices and payments to Sage ACCPAC including capital purchases
• Set up and post AP accrual on a monthly basis
• Verify accuracy of bi-weekly payable cheque runs
• Reconcile processed work by verifying entries and comparing system reports to balances
• Ensuring intercompany balances are reconciled at month end and documented appropriately
• Charge expenses to accounts and cost centers by analyzing invoice / expense reports; recording entries
• Maintain accounting ledgers by verifying and posting account transactions ensuring accuracy of GL coding
• Verify vendor accounts by reconciling monthly statements and related transactions
• Maintain historical records by filing documents for suppliers and different projects
• Protect organization’s value by keeping information confidential
• Process intercompany invoices for group & engineering fees
• Ensure intercompany balances are reconciled at month end
• Apply payments as they are received to the appropriate customer / intercompany partner
• Provide support in the preparation of annual budget and quarterly forecast of the organization
• Creating and submitting capital expense requests in Kepion for approval, reviewing and updating capital purchase information regularly
• Preparing and analyzing financial data of Toronto Engineering Centre in CMF binders for September Hard close and December Roll forward
• Conducting month end closing – creating, reviewing, and posting journal entries, reconciliations, creating j-Level journal entries in HFM / OneStream, confirming balances with divisions
• Analyzing and presenting monthly performance data during operational reviews
• Analyzing BP / Forecast and presenting updated information during monthly Proforma reviews
• Tracking and reviewing NA finance KPIs (CAPEX, Absorption, EBIT, Headcount, project spending, etc.)
• Special projects and / or duties as assigned

Engineering Office Administration

Customers and Business Interfaces

Requirements And Qualifications

Health & Safety / Magna Standards / Additional Requirements

The above is intended to describe the requirements for the performance of this position. It is not to be construed as an exhaustive statement of requirements and qualifications.

Awareness, Unity, Empowerment

At Magna, we believe that a diverse workforce is critical to our success. That’s why we are proud to be an equal opportunity employer. We hire on the basis of experience and qualifications, and in consideration of job requirements, regardless of, in particular, color, ancestry, religion, gender, origin, sexual orientation, age, citizenship, marital status, disability or gender identity. Magna takes the privacy of your personal information seriously. We discourage you from sending applications via email or traditional mail to comply with GDPR requirements and your local Data Privacy Law.

Notice Regarding The Use Of AI

As part of our commitment to a fair, consistent, and efficient recruitment process, we may use artificial intelligence (AI) tools to assist in the initial screening of applications submitted through our Workday system. These tools help identify qualifications and experience that align with the role requirements. Final decisions are always made by the hiring manager and the hiring team. No applicant data is shared externally through these AI tools. All information remains securely within our systems and is handled in accordance with our privacy and data protection policies. If you have any questions or concerns about this process, contact our Talent Attraction team.

Worker Type Regular / Permanent

Group Magna Powertrain

Senioritiy level

Employment type

Job function

Industries

Note : This description reflects the current job posting and does not imply a contract of employment.

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