Executive Brief

Chief Financial Officer
YMCA Canada

February 2021

Chief Financial Officer

General Summary – Overarching Functions of the CFO

Reporting to the President & CEO of YMCA Canada, the Chief Financial Officer has two primary functions:

  1. Provides the overall strategic direction for financial reporting, budget, regulatory and accounting functions of YMCA Canada.

  2. Provides strategic leadership to Federation-wide Finance and Human Resource initiatives and federation shared services. In this capacity, the CFO works closely with the President & CEO as a member of the Senior Leadership Team to achieve and execute the federation strategic initiatives.

Specific Duties as they Relate to the CFO’s Two Functions

1. Leadership in YMCA Canada

Within the national office of the federation, the CFO:

  • Leads and provides executive level oversight to all aspects of the financial management of YMCA Canada.  These include:

- Internal financial control process and procedures

- Development and implementation of the policy framework

- Budgeting process and monitoring and analysis of actual operating performance against budget

- Cash flow monitoring and management

- Investment management oversight and policy compliance

- Supervision of the annual external audit and preparation of the audited financial statements.

  • Oversees strategic financial planning and analysis to support decision making by the Senior Leadership Team.

  • Mentors, coaches and provides direction to a small team at the national office, with the goal of building a best-in-class team that is engaged, service-oriented, meeting their commitments and assignments on time and on budget, and aligned with YMCA values.

  • Supports the Finance Audit and Risk Committee, and the Board, to fulfill its role and responsibilities, including, but not limited to:

    • Oversight of the annual audit and performance of the external auditor

    • Ensuring the integrity of the financial statements and financial reporting process

    • Ensuring the integrity and performance of the internal control systems and compliance with policies

    • Investment oversight and management

    • The establishment of an annual risk assessment reporting system and preparation of cash flow projections.

  • Acts as key point person for all legal and administrative matters for YMCA Canada.

  • Oversees and monitors the development and on-going maintenance of the business continuity plan.

  • Provides oversight to YMCA Canada office administration.

  • Is the executive lead of the Human Resource function at YMCA Canada.

  • Maintains strong, positive relationships with key external partners including bank, investment manager, corporate legal counsel, auditors, insurance broker, group benefits broker, other consultants and vendors.

2. Leadership and Support within the Federation

As a partner, colleague and support to the Federation, the CFO:

  • Provides strategic leadership to collaborative finance initiatives

  • Builds and strengthens a finance community of practise for associations to address financial, operational, tax, regulatory environment and data management issues,

  • Represents YMCA Canada in North American YMCA network.

  • Provides strategic leadership to collaborative HR initiatives, building and strengthening an HR community of practise for associations to address HR management.

  • Chairs the Canadian Urban Group insurance purchasing program committee ensuring compliance with roles and responsibilities in accordance with the program agreement.

  • Provides strategic direction to the federation Employee Benefits program, working with program committee, the broker and carrier to ensure benefits program addresses the needs of participating associations.

  • Represents the YMCA in a professional manner consistent with YMCA values.

  • Adheres to the YMCA Child Protection Policies and Procedures and specifically to understand and comply with the legal responsibilities and moral imperative to report suspected child abuse to the Children’s Aid Society.

The CFO Candidate Profile

To deliver on the general and specific duties and functions listed above, YMCA Canada’s CFO must be a versatile, collaborative and strategic organizational leader with a range of skills, experience and qualities, as set out below.

1. Background, Experience and Skills

The Ideal candidate has or can demonstrate:

  • Comparable senior management/executive level experience

  • Some level of experience in or exposure to the charitable or nonprofit/association sector, ideally in a pan-Canadian setting

  • A professional accounting designation, ideally coupled with a degree in Business or a related discipline

  • A breadth of administrative experience, including finance, human resources, information technology, office management, etc.

  • Proficiency and success in leadership, internal and external partnerships, and change management

  • Success leading people to achieve exemplary performance and outcomes

  • Extensive experience developing and managing resources and supporting colleagues in a comparable multi-stakeholder environment

  • Working knowledge of investment management.

2. Leadership Competencies for Success in the YMCA Canada & Federation Context

The ideal candidate has or can demonstrate:

  • Strategic foresight and the ability to set priorities and a clear direction

  • The ability to interact effectively with colleagues at all levels and to lead and bring out the best in teams

  • Exceptional judgment supported by an evidence-based approach to decision making

  • A collaborative approach and ability to influence, lead and inspire others

  • Strong verbal and written communication, presentation and facilitation skills

  • Innovative problem-solving abilities and a continuous improvement mindset

  • A consultative, collegial and supportive approach that builds and maintains trusted and respectful relationships

  • A change orientation and the ability to lead and adapt well to change

  • Professionalism with unquestioned integrity

  • Humility and respect for other viewpoints

  • The confidence, composure and competence to address a range of complex, challenging and sensitive issues

  • The ability to effectively manage the ambiguity, politics and pressures of a senior leadership role in a multi-stakeholder environment

  • Initiative and a natural bias to action with a positive, can-do attitude

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