When we started to discuss re-branding Nova Finance with CFO Glenn Pick he jokingly suggested renaming the team “Fun with Finance”. He’s not wrong, our Finance team does a bit of everything, and some of it is fun – I mean, who doesn’t like getting paid?
I spent a few days virtually ‘hanging out’ with Karen Howard, our Financial Operations Lead, to see what ‘a day-in-the-life‘ looks like. The day starts early, with a little hot coffee, a few spreadsheets and a lot of emails.
Nova Finance takes care of core accounting duties like payroll, AR and AP, but the company also relies on their expertise in budgeting, planning, managing investments, overseeing audits and so much more. They are a resource to our entire organization, to our Broker Partners, and other external stakeholders. In short, the team is responsible for a lot more than you may think…
- If you have a claim and are waiting for a cheque? You speak with Nova Finance.
- If you’re a Nova Team Member and need receipts processed? You speak with Nova Finance.
- If you’re a Broker partner checking on payments or just looking for general information? You speak with Nova Finance.
- If you’re a Member and have a payment question? You call your Broker and your Broker speaks with Nova Finance
…are we noticing a trend here?
For the past few months, Nova Finance has gone above and beyond for Members struggling financially due to the pandemic. Instead of returning missed payments and triggering expensive Non-Sufficient Fund charges at their financial institutions, Nova reached out directly to Broker partners or Members if a payment was declined, to make alternate arrangements. An extremely detailed file serves as both proof that all Members are still covered and an example of the extensive efforts which saved Members thousands of dollars in fees.
Nova Finance is the face of Member service, processing payments, following up with our Broker partners, balancing account statements, paying vendors and staying on top of payroll and expenses for Nova’s team and Board of Directors. On top of following up on NSF items, Nova Finance goes into the office several times a week to process deposits and print cheques. They reconcile bankbooks, issue letters to Members, complete continuity control on claims and so much more.
This self-led team, powered by collaboration and resourcefulness, is B-U-S-Y! But, above all, Nova Finance is a strong team that works great together and is an integral piece of Nova Mutual Operations.
After all, as Glenn says, “all things end up in Finance”.
Written by blog contributor, Jessica Lymburner, Executive Administrator @novamutual