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Director, Finance

Onex

Onex

Accounting & Finance
Toronto, ON, Canada
Posted on Oct 17, 2024

ABOUT ONEX:

Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Onex became a public company in 1987 and is listed on the Toronto Stock Exchange under the symbol ONEX.

Onex’ two primary businesses are Private Equity and Credit. In Private Equity, we raise funds from third-party investors and invest them, along with Onex’ own investing capital, through the funds of our private equity platforms: Onex Partners and ONCAP. Similarly, in Credit, we raise and invest capital across several private credit, liquid credit and public equity strategies. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies, family offices and high net worth individuals.

Onex has $48.7 billion in assets under management (“AUM”), of which $32.9 billion is fee-generating and$8.5 billion is Onex’ own investing capital. We generate value for our shareholders through two segments: Investing and Asset Management. Our Investing segment includes gains on our invested capital. Our Asset Management segment generates revenues from the recurring fees clients pay us to manage their capital and includes carried interest from our private equity and private credit funds.

The Opportunity:

Reporting to the Vice President, Finance based in Toronto, this is an exciting opportunity to join a diverse, publicly listed business and lead the corporate accounting function for the private equity and credit asset manager entities. This role leads a team responsible for financial reporting and Treasury activities for the firm and will be an integral part of the leadership group for the Finance function.

What you will do:

Leadership & Team Management

  • Lead, develop, mentor, and retain a high-quality team of professionals to achieve team and firm objectives

Financial Reporting

  • Responsible for planning, directing, and coordinating across the corporate accounting and reporting function for Onex’ private equity & credit manager entities.
  • Support the consolidation of the corporate accounting results into the firm’s consolidated public reporting as well as supporting managerial reporting by business line and department.
  • Review quarterly reporting for private equity and credit manager entities.
  • Maintain appropriate controls to ensure costs allocated from the manager entities to funds and operating companies are appropriately supported and aligned with compliance policies and agreements established with investors in the firm’s funds and products.
  • Implement new accounting policies and procedures together with the public reporting team.
  • Work closely with the firm’s Fund Finance teams to facilitate implementation of complex transactions across multiple entities / jurisdictions and ensure appropriate financial documentation.

Financial Systems

  • Support the maintenance of key corporate financial accounting, reporting and analysis systems with the support of the firm’s enterprise technology team.

Financial Stewardship

  • Coordinate and manage external audits for separate entity reporting as required.
  • Coordinate and review internal financial statements for tax filing purposes as required.
  • Oversee the collection and validation of W-9 and 1099 forms from vendors, contractors, and other payees to ensure accuracy of information for annual compliance reporting.
  • Ensure the continued maintenance and oversight for effective controls over financial reporting towards compliance with regulatory requirements and promoting accuracy and integrity in all financial disclosures.
  • Work together with the internal audit team to support their testing and any remediation efforts.

Treasury Management

  • Support the management of the firm’s banking relationships to ensure appropriate ongoing support and coordination for the firm’s treasury operations.
  • Oversee and maintain treasury ticketing system to ensure all requests are resolved accurately and in a timely manner by your team.

What you bring:

  • University degree in finance, accounting, economics or MBA
  • Professional Accounting designation (CPA)
  • A minimum of 8 years of experience in financial and managerial reporting and / or budgeting
  • Exposure to asset management or financial services industry is an asset
  • Proficient in financial accounting systems (Microsoft BC preferred, but other complex systems will be considered)
  • Demonstrated success in leading teams
  • Strong business acumen and work ethic, with a desire and ability to think strategically and reimagine processes to find more effective and efficient means to an end.
  • Experience working with key stakeholders across multiple groups, such as external reporting, tax and operations.

Our team & Commitment:

Onex is led by our CEO, Bobby Le Blanc, as well as experienced leaders at each of our businesses. We have over 170 investment professionals across all platforms, supported by approximately 265 professionals dedicated to our corporate functions and investment platforms, including our institutional and high net worth relationship professionals. Consistent with our One Onex approach, the teams share and leverage sector expertise, and sourcing and origination opportunities across all business lines.

Our culture is guided by our strong commitment to accountability, intellectual honesty and respect for all our partners and stakeholders. Onex was formed on principles of entrepreneurialism and responsible investing and our team is united in recognizing the value of collaboration, diversity of perspective and background, and an inclusive environment. Our team is a critical factor in our success, and attracting and retaining the best people and strongest investors are an important competitive advantage.

Also crucial to our long-term success is the alignment of interests between the Onex management team, shareholders and clients. Members of our management team have a significant long-term ownership in Onex shares and invest meaningfully in our funds. We believe this alignment creates stronger relationships with both clients and shareholders.

Diversity Equity & Inclusion:

Onex recognizes that a diverse team and inclusive environment are vital in contributing to our continued success as an investor and asset manager. We believe that diverse perspectives create better outcomes for us and our stakeholders, including the companies we invest in, our shareholders, investors and clients, as well as the communities we serve.

Onex’ commitment to diversity and inclusion includes increasing our focus on attracting and retaining employees from diverse backgrounds, creating additional awareness of diversity issues and benefits, fostering and inspiring a more supportive environment where inclusivity is expected and prioritized, and embedding accountability for diversity throughout the firm.

Onex’ Diversity & Inclusion Leadership Council, which is co-chaired by our President and our Head of Shareholder Relations and Communications, includes representation from across all business platforms and geographies. The Council is responsible for championing diversity and inclusion across the firm, including supporting the development and success of Onex’ employee resource groups.

Environmental, Social & Governance:

As a public company, we are committed to delivering value for all of our stakeholders – our shareholders, investors, employees, operating companies and the communities in which we operate. Responsible governance throughout Onex and across our platforms is fundamental to the success of our organization. We hold ourselves to the highest standards of good governance, which builds trust and confidence in our stewardship of capital.

Consistent with our long-held belief that responsible investing is both the right approach to investing, as well as a driver of meaningful stakeholder value, we continue to make enhancements to our environmental, social and governance (“ESG”) program. Recent initiatives include the addition of resources to our ESG team and progress on our efforts to measure carbon emissions across Onex and our investment platforms. To remain aligned with emerging best practices, we participate in several industry initiatives, including the ESG Data Convergence Initiative, Initiative Climat International (“iCI”), the Principles for Responsible Investment (“PRI”), the IFRS Sustainability Alliance and FCLT Global, among others. We expect our program to continue to expand in line with this rapidly evolving area, while remaining rooted in our founding principle of responsible investing.