About Us:

We are a dynamic and growing credit union with 10 locations across Southwestern Ontario, committed to providing exceptional financial services to our members.

We believe we have the best team in the business due to our leadership philosophy of excellence, and team development. With our full spectrum of investment, credit, and general banking instruments, our team can build the solution that is best for our customers; and since our customers are also our shareholders, this will always be our business objective!

 

Mainstreet Credit Union is actively seeking an experienced Director of Finance to join our growing team!

 

Why Join Our Team?

At Mainstreet we believe in investing in you – whether it is our employees or our incredible members. At Mainstreet we are committed to providing exceptional service, advice and improving and making a difference in the lives of our members.

 

Mainstreet offers its employees:

• Work-life balance and flexible work arrangements
• Opportunities for training and advancement
• Generous salary, vacation and benefits (Mainstreet is a Living Wage employer)
• Opportunity to work at a values-based cooperative

 

Our Values:

Personalized: High quality personalized advice with flexible solutions.

Supported: Highly responsive through empowered professionals.

Known: Meaningful impact and connected to community.

Easy: Easy and in the way our members prefer.

 

The Role

Salary: $124,138.00 – $155,173.00.00 (commensurate with experience)

Location: Hybrid role (in-office work at one of our Administration Offices (Strathroy or Sarnia)

 

Job Function:

The Director role is a key leadership position that works closely with the Executive Leadership Team (ELT) to support and execute corporate strategies. This role combines a global perspective with a strong commitment to the best interests of Mainstreet, fostering collaboration and alignment to achieve organizational goals.

As a subject matter expert in their functional area, the Director provides strategic guidance and leadership across the organization. They are a role model, promoting a balance between team dynamics and collective success. By championing innovative solutions, creative problem-solving, and continuous improvement, the Director ensures that Mainstreet’s members and the organization’s interests are safeguarded.

Reporting directly to the CFO, this role provides leadership to Finance, Treasury and Accounting functions, including financial operations, internal and external financial reporting, policy and procedure enhancements, budget and forecast preparation, asset liability management, liquidity and capital management, treasury management and internal controls.

 

Key Duties & Responsibilities:

Strategic Leadership:

• Develop and drive forward-thinking strategies for their functional area that align with Mainstreet’s vision and values.
• Act as a trusted advisor, offering expert insights to inform decision-making across the organization.
• Serve as a conduit between the Executive Leadership Team and the broader organization, ensuring seamless communication and alignment.

Team Leadership:

• Set clear goals for their team and ensure alignment with corporate objectives.
• Provide mentoring, coaching, and constructive feedback to foster professional growth and promote team effectiveness.
• Regularly evaluate team performance and identify opportunities for development and improvement.
• Foster a culture of employee engagement by promoting collaboration, recognition, and inclusion within the team.

Operational and Strategic Execution:

• Oversee the creation and management of the department’s annual business plan to achieve strategic objectives.
• Prepare, manage, and monitor the department’s annual budget to ensure fiscal responsibility.
• Own and oversee the development, implementation, and maintenance of policies relevant to their functional area.
• Drive strategic execution, ensuring alignment between departmental initiatives and Mainstreet’s organizational goals.
• Lead and manage change initiatives to support adaptability, innovation, and continuous improvement across the department and organization.

Commitment to Excellence:

• Ensure operational procedures and structures are integrated, efficient, and seamless, prioritizing an exceptional member experience.
• Promote innovation and continuous improvement to enhance processes and outcomes.
• Champion sustainability and growth initiatives that benefit members, the team, and the broader community.

Accounting:

• Prepare and publish timely monthly financial statements, follow up on discrepancies and implement solutions to ensure accurate reporting. Support month-end and year-end close process.
• Coordinate and direct the preparation of the budget and financial forecasts and report variances.
• Manage all accounting operations including Billing, A/R, A/P, General Ledger, Cost Accounting, Inventory Accounting and Revenue Recognition.
• Analyze accounting and financial records and systems to ensure compliance with established accounting standards, regulations, procedures, and internal controls.
• Ensure quality control over financial transactions and financial reporting and assess all credit union activity to ensure financial accounting compliance with IFRS.
• Develop, recommend, and implement financial policies, procedures, and controls to ensure compliance with regulatory requirements and industry best practices.
• Develop and document business processes and accounting policies to maintain and strengthen internal controls.
• Manage the IFRS 9 Expected Credit Losses model and provide recommendation on appropriate loss estimates.
• Provide reporting, analysis, and recommendations on various issues, communicate resolution of compliance issues and other complex reporting figures.
• Monitor and evaluate the financial performance of the credit union, identify areas for improvement and implement corrective actions as needed.

Financial Reporting & Audit Management

• Manage the preparation of financial statements, reports, and presentations for executive management, the board of directors, and regulatory bodies.
• Develop and provide quality assurance for all monthly, quarterly, and annual reports submitted to regulators (ICAAP, ILAAP, MIR/AMIR) and/or external parties (CMHC, PICUZ)
• Stay abreast of industry trends, market developments, and regulatory changes that may impact the credit union’s financial position.
• Coordinate the preparation of the external financial statements and external audit.
• Coordinate timing on all external audit work, discuss in depth process issues and audit findings and implement analysis for audit conclusion and implement corrective actions.

Other Finance Activities

• Manage all financial activities of the company, including financial planning, budgeting, forecasting, and reporting.
• Lead the finance team in analyzing financial data, identifying trends, and providing insights to support strategic decision-making.
• Collaborate with other departments to optimize financial performance, drive efficiencies, and support business objectives.
• Manage relationships with external stakeholders, including auditors, investors, and financial institutions.
• Prepare presentations and reports for senior management and board meetings, highlighting key financial metrics and performance indicators.
• Stay abreast of industry trends, market developments, and regulatory changes that may impact the company’s financial position. Lead the development, implementation and monitoring of policies, procedures, and practices for Mainstreet’s liquidity and funding management, cash and investment portfolio management, asset-liability management, capital management interest rate management, and financial profitability modeling and analysis.
• Deliver appropriate key performance indicators (KPI’s), required metrics, budgets and forecasting, financial reporting, and analytics to support business units, executives and board level committees as required.
• Contribute and assist where required with committees and project teams to contribute to knowledge sharing and development.
• Collaborate with the manager of treasury to administer the credit union’s liquidity, investments, and funding endeavors with the aim of maximizing returns.
• Learn appropriate systems and tools to engage in leading, reporting and executing responsibilities such as Vantage, Prologue, ALM system, etc.
• Other duties as assigned.

 

Education & Experience:

• Bachelor’s degree in finance, accounting, economics, or related field; CPA required.
• Minimum work experience of 5 years financial services industry; with at least 3 years in a leadership position.
• Thorough understanding of IFRS accounting standards, financial principles, practices, and regulations specific to credit unions or financial institutions, including experience with regulatory bodies such as the Financial Services Regulatory Authority (FSRA).
• Proven leadership experience with a focus on strategy development, team management, and operational execution.
• Expertise in their functional area with a track record of innovative problem-solving.
• Demonstrated ability to manage budgets, develop business plans, and execute strategic initiatives.
• Strong interpersonal skills, with the ability to inspire and guide teams while serving as a bridge between executives and the organization.
• Commitment to member-centric values and fostering a collaborative organizational culture.

 

Join Mainstreet Credit Union and be part of a workplace that values diversity, promotes equity, and fosters inclusion. We actively seek diverse perspectives, ensure equal opportunities for all, and cultivate a culture where every individual feels valued. Our commitment to continuous learning ensures an environment where everyone can thrive.

Mainstreet Credit Union is an equal opportunity employer. We welcome applications from candidates of all backgrounds and experiences. Accommodation is available upon request for candidates taking part in all aspects of the selection process.

 

*Note: This posting is for an open vacancy. Application compatibility assessed with AI.