job title: Chief Financial Officer
department: Operations
reports to: President & Chief Executive Officer
salary: $140,000 - $155,000 per annum.
status: Permanent, Full Time
hours: 37.5 hours per week
direct reports: Two (2)
The full posting is available on our website (link at the bottom)
About the role:
The Chief Financial Officer (CFO) contributes to the overall success of the organization by overseeing all financial and IT functions for the organization. The CFO oversees an operating budget in excess of twenty million dollars, leads the development and stewardship of finance policies, processes and controls and functions as the organization’s Controller. They monitor all regulatory and funding requirements and ensure that the organization is meeting its requirements. The CFO will oversee Sherbourne’s procurement function and manage its contracts, including liability insurance and relevant vendor and service agreements. The CFO also serves as an expert advisor and support resource for management in all matters related to finance and our budget.
The CFO will also oversee the Information Technology needs of the organization, including supporting the IT Consultant and their team in ensuring that IT infrastructure meets the needs of the organization in a manner that is functionable, secure, and cost effective.
Scope of the Mandate
The CFO is a member of the Senior Management Team and is expected to provide active participation, leadership, and direction within the organization. This position ensures legal and regulatory compliance as it relates to accounting and financial reporting functions. The CFO also oversees cost and general accounting, accounts receivable/collection and payroll. They focus on developing and leading a high-performing, service-oriented finance & IT teams and provide back up support to the President & Chief Executive Officer.
Responsibilities and Tasks:
Finance
Financial Operations & Risk Management
- Oversees development and maintenance of timely and accurate financial statements and reports that are appropriate for the users and in accordance with generally accepted accounting principles (GAAP).
- Oversees development and implementation, and monitors compliance with internal financial and accounting policies and procedures; including procurement, vendor contracts and professional and all other insurance coverage.
- Ensures that all statutory requirements of the organization are met including Charitable Status, Withholding Payments (CPP, EI), Income Tax, Goods and Services Tax, Employer Health Tax and HOOPP.
- Actively contributes to the Enterprise Risk Management Program, including monitoring any risks to the organization financially and raising concerns and solutions to the Management Team.
- Prepare all supporting information for the annual audit, and provides supporting materials required for the Board's Finance & Audit Committee.
- Responds to all enquiries made by the external auditors.
- Participate fully in Finance & Audit Committee meetings, working closely with the Chair/Treasurer.
- Documents and maintains complete and accurate supporting information for all financial transactions.
- Develops and maintains financial accounting systems for cash management, accounts payable, accounts receivable, credit control, and petty cash.
- Reconciles bank and investment accounts.
- Reviews monthly results and implement monthly variance reporting.
- Manages the cash flow and prepares cash flow forecasts.
- Provides direction on the bookkeeping function including maintenance of the general ledger, accounts payable, accounts receivable and payroll.
- Develops and implements policies and procedures to ensure that employee and financial information are secure and stored in compliance with current legislation.
- Manages the acquisition of capital assets and ensure that assets are properly recorded, amortized, and disposed of as appropriate.
- Provides direction for the annual T3010 charitable return in a timely manner as appropriate.
- Liaises with the Treasurer, Finance & Audit Committee as appropriate.
- Provides the President & Chief Executive Officer and the Board Treasurer with financial reporting as required at Board meetings, committee meetings and the Annual General Meeting.
Payroll
- Oversees payroll functions and processes to ensure that employees are paid in a timely and accurate manner and in accordance with the Collective Agreement, where applicable.
- Ensure that statutory, benefits and union remittances are made in a timely manner.
- Validates annual T4 and T4A in coordination with payroll providers or all employees and contractors.
- Participates in the management of the employee insurance and benefits plans.
Budget and Audit
- Leads Finance team in preparing for the annual audit.
- Collects and organizes budget information and supports Senior Management in developing and inputting annual budgets.
- Collaborates with Senior Management to develop unit/project costings, financial modeling and other business intelligence.
- Works with Fund Development team on revenue management; specifically accurate booking and reporting of fund development.
- Reports to, and advises, management on revenue optimization opportunities and strategies revenues.
Procurement
- Develops organization procurement policies and procedures; advises on, and monitors compliance with same, as well as legislation and funder directives.
- Manages all service contract processes, including managing a repository and timely evaluation/renewal of contracts.
IT Management
- Oversees information technology strategies and plans to support organizational strategic priorities and anticipate future needs.
- Oversees and reports to the Senior Management Team on KPIs and risks related to IT, and develops and implements mitigation strategies in accordance with the Enterprise Risk Management policy and program.
- Oversees the use of IT Vendors and Contractors, and ensures the ongoing effective operation of IT infrastructure and services that support the organization’s strategic priorities and operational functions.
- Develops, maintains and monitors IT budgets and annual operational plans.
- Supports IT Staff and Contractors in maintaining IT infrastructure.
- Ensures the development of IT policies, procedures, and training materials.
- Oversees the delivery of IT support services to end-users.
- Manages IT vendors and service providers, and ensures compliance with service level agreements to optimize value.
- Supports IT staff and contractors in ensuring business continuity and resilience and protects information assets by planning, implementing and monitoring back-up, disaster recovery and information security controls and procedures.
- Plans and manages multiple concurrent projects focused on refreshing enterprise IT infrastructure and services.
- Ensures that cybersecurity measures are in place and reviewed at least annually to ensure safety and security of our data and client record systems.
Organizational Planning and Leadership
Senior Leadership Functions
- Acts as main liaison with all funding partners on financial matters relating to the budget.
- Acts as main liaison with external auditor.
- Participates in Management team meetings, and leads budget with department managers.
- Attend all board meetings, including the Annual General Meeting.
- Contributes to development and implementation of strategic and operating plans.
- Participates in Board/Committee meetings as required.
- Maintains a culture of safety and quality improvement in the department.
- Actively participates in the ongoing process of maintaining accreditation with Accreditation Canada.
- Undertakes special projects and other duties as required.
Team Management
- Selects, orients, and provides overall coordination and supervision of Finance team.
- Provides employees with direction and supervision, performance evaluation & opportunities for training & development.
- Plans opportunities for team building and program/service retreats.
- Coaches employees and where necessary implements remedial/ disciplinary measures to ensure performance standards are met.
To thrive in this role, you’ll need
education/experience:
- CPA designation required
- Experience with Boards and Board committees and understands the roles, issues and concerns
- Minimum 5-8 years’ experience in a similar field
- Minimum 5 years’ supervisory financial role experience working in the charitable/not-for-profit environment
- Experience in a granting organization and/or a logistics intensive operation
- Broad business knowledge and experience and understanding of organizational structure
- Experience supervising staff and managing external relationships
- Experience in managing a complex budget
conditions of employment:
- Offer of employment is contingent upon satisfactory outcome of background checks i.e., professional references, education verification, criminal background check, and vulnerable sector check.
- Understands and works within the Occupational Health and Safety Act (OHSA), Personal Health Information Protection Act (PHIPA), Accessibility for Ontarians with Disabilities Act (AODA), the Ontario Human Rights Code and other relevant legislation.
To apply: Please forward a cover letter and resume (saved as one document) quoting Job ID # OPS -CEO -2025 to myjob@sherbourne.on.ca.
Sherbourne is dedicated to building an organization that reflects the diversity of our clients and the communities we serve. This includes diversity in languages spoken, culture, race, sexual orientation, and gender identity. Requests for accommodation due to disability can be made at any stage in the recruitment process.
We thank all applicants for their interest but only those selected for further consideration will be contacted.
Full Link: https://sherbourne.on.ca/job/chief-financial-officer-copy/
