Job Title: Chief Financial and Risk Officer
Job Status: Regular Full-Time
Primary Location: This position is a hybrid role with remote work available. The in-person office time is to create meaningful and lasting connections with our members, staff and our HMECU community. Interprovincial applicants welcome – with requirement for travel to head office up to 5 days month.
Introduction
Healthcare and Municipal Employees Credit Union (HMECU) is a financial institution with a long history of providing superior financial services to local members. We are looking for an experienced and dedicated Chief Financial and Risk Officer (CFRO) to join our organization in our Hamilton Head office.
Position Overview
The CFRO will be responsible for leading and managing all financial, regulatory compliance, and risk management functions of the organization. This role is critical to the success of HMECU and requires a high degree of accuracy and attention to detail. The CFRO will report to the President and CEO and will work closely with the Senior Management team and other stakeholders.
The CFRO will manage the corporate financial performance of the Credit Union by developing and implementing short- and long-term strategies. As part of the Executive Management Team, the CFRO will work actively with the board in the development and implementation of Credit Union strategic goals; work with management to develop tactical plans designed to achieve strategic goals; and will prepare the necessary business plan and budgets to achieve the tactical plans.
What you’d be doing:
- Develop and maintain a sound internal control environment.
- Oversee the preparation of financial statements and provide interpretation and analysis to the Executive Management Team.
- Oversee the preparation of regulatory reporting.
- Develops, recommends, and implements changes to policies and procedures in the areas of administration to ensure compliance with application regulations and laws.
- Develop and maintain a strong relationship with external auditors and stake holders.
- Monitor and manage the Credit Unions financial risk, including but not limited to: Interest Rate Risk, Capital Risk, Liquidity Risk, and Foreign Exchange Risk
- Develop and implement strategies for increasing profitability and reducing costs.
- Develop and maintain the budget and forecasting processes and monitor the overall credit union performance.
- Manage and evaluate the financial and operational systems of the Credit Union.
- Analyze investment opportunities and manage the overall investment portfolio.
- Participates actively at the senior management level and Board of Director level in the development and implementation of strategic plans.
- Sets and administers the rate structure in conjunction with the CEO.
- Supervises, mentors, and coaches the Finance and Accounts Payable Team.
- Responsible for providing overall direction, control and planning for the audit, risk and internal controls for the credit union.
- Key executive management representative to Board Audit Committee and other Board Committees as assigned.
- Lead the Asset Liability Committee (ALCO).
- Oversee compliance function.
- Manages corporate enterprise risk relating to areas such as anti-money laundering/terrorist financing compliance, and other related legislation; keeps current with and ensures credit union compliance to legislation.
- Develops and implements risk policies and programs relating to areas such as loss prevention and business continuity.
- Oversees the monitoring, investigation, and tracking of internal control processes and losses due to fraud, forgery, and theft.
- Manages relationships with external regulators.
- Other duties as assigned.
Skill Requirements
- Accounting designation (CPA) required.
- Minimum of 8-10 years in accounting and financial experience.
- Proven experience managing financial and risk functions.
- Proficiency in financial modelling, forecasting, and budgeting.
- Knowledge of banking regulations and compliance requirements.
- Knowledge of DNA Banking System would be considered an asset.
- Excellent organizational, interpersonal and communication skills
- Ability to work independently and take initiative.
- Excellent planning, budgeting, and organizational skills.
- Strong people skills in working and developing relationships with stakeholders, staff and members.
- Sound analytical thinking, planning, prioritization and execution skills and strategic leadership ability.
- A team player with the ability to work collaboratively.
- Experience creating policies and procedures.
- Must be bondable.
If you have the required skills and experience and are looking to join a dynamic and growing financial institution and team, we would love to hear from you.
Please note: Healthcare and Municipal Employees Credit Union has an accommodation process in place and provides accommodations for employees with disabilities. If you require a specific accommodation because of a disability or a medical need, please contact HR at 905-575-8888 ext 145 or hr@HMECU.com so that arrangements can be made.
We thank all applicants for their interest, however, only those selected for an interview will be contacted.
Job Type: One (1) Full – time vacancy
Primary Location: Head Office – 209 Limeridge Rd East Hamilton ON / Remote Hybrid Work Environment Available
Hours of Work: Flexible Work Week
Benefits: YES. We offer a very comprehensive Benefits Package.
100% Employer Paid Benefits for STD, LTD, Life Insurance, Extended Health, Dental Coverage and Employee Family Assistance Program.
Pension: Defined Contribution Pension Plan; with 9% Employer Contribution’s.
Compensation: $121,000.00 – $182,400.00 + variable bonus commensurate with experience
(Target Hire Total Compensation – $145,000.00-165,000.00)