Chief Financial Officer (Cfo)

Job Title: Chief Financial Officer

Job Type: Contract

Contract Duration: 24-36 months

City, Province, Country: Rankin Inlet, NU

Job Location: Iqaluit, Cambridge Bay, Rankin Inlet (travel required)

Job Category: Financial

Workplace Based - The role is physically based in an NU Legal Aid Office.

Open Positions: one

Posting Date: March 14, 2024

Closing Date: Until filled

Required Professional Designation: CPA, CA

Salary: $145,000 - $178,000/Year plus a generous compensation benefits package.

Position Overview:

The Chief Financial Officer (CFO) Nunavut Legal Services Board plays a critical role in the strategic direction and financial health of the organization. Reporting directly to the CEO and board of directors, the CFO provides leadership, guidance, and oversight for all financial functions, including financial planning, budgeting, reporting, analysis, and risk management. The CFO is responsible for ensuring the organization's financial operations are efficient, effective, and compliant with relevant laws and regulations.

This position is in Rankin Inlet, Nunavut. There will be a requirement for frequent travel between Rankin Inlet, the Gjoa Haven head office, Cambridge Bay and Iqaluit offices.

Key Responsibilities:

1. Financial Strategy and Planning:

• Develop and implement financial strategies aligned with the organization's goals and objectives.
• Lead the annual budgeting process and provide ongoing financial forecasting and analysis.
• Evaluate and recommend financial strategies.
• Participate in the review and implementation of the contribution agreements.
• Monitor trends and Government of Nunavut policy to identify areas which may impact LSB's overall financial situation.

2. Financial Reporting and Analysis:

• Oversee the preparation and presentation of accurate and timely financial reports, including income statements, balance sheets, cash flow statements, and variance analyses.
• Provide insightful analysis of financial performance and key metrics to drive strategic decision-making.
• Ensure compliance with accounting principles, standards, and regulations.
• Presentations to the Board will be required from LSB internal records and the Government of Nunavut/ LSB financial records.
• Maintain all financial records and ensure ongoing security and confidentiality of all information.
• Work closely with the 3 regional boards on financial matters through the CAO.
• Ensure that the CEO and executive team are continuously apprised of LSB financial matters.

3. Risk Management and Compliance:

• Develop and implement risk management policies and procedures to mitigate financial, operational, and regulatory risks.
• Monitor and ensure compliance with relevant laws, regulations, and reporting requirements.
• Establish internal controls to safeguard assets and maintain the integrity of financial information.

4. Management and Funding:

• Manage the organization's financial structure.
• Evaluate financing options and best banking practices.
• Optimize capital allocation to support strategic initiatives and long-term growth objectives.
• Manage staff within the finance department ensuring safety and harmony in the workplace.
• Work with HR on staffing including recruiting and dismissals.
• Encourage continuous learning in the finance staff

5. Treasury and Cash Management:

• Oversee cash flow planning and forecasting to ensure adequate liquidity for operational needs and capital investments.
• Manage banking relationships, credit facilities, and cash management strategies to optimize cash balances.
• Implement cash management policies and procedures.
• Ensure clinic contribution agreements are in place promptly

6. Financial Operations and Systems:

• Streamline financial processes, systems, and controls to improve efficiency, accuracy, and transparency.
• Identify opportunities for automation, digitization, and process improvement to enhance financial operations.
• Collaborate with the Government of Nunavut, the CEO and other functional areas to implement and integrate financial systems and technologies.
• Participate and lead any financial auditing as required.

7. Leadership and Team Development:

• Provide strong leadership, mentorship, and development opportunities for the finance team.
• Foster a culture of collaboration, innovation, and continuous improvement within the finance organization.
• Promote professional growth and skill development through training, coaching, and performance feedback.
• The CFO will be responsible for ensuring the finance department recognizes and works towards a cultural understanding of the Inuit population we serve. When possible, the CFO will recruit and develop Inuit candidates for positions within LSB and ensure Inuit Qaujimajatuqangit values are followed.

Qualifications and Skills:

• In-depth knowledge of financial principles, practices, and regulations; familiarity with all regulatory financial rules and regulations.
• Degree in finance, management or accounting along with CPA designation.
• Minimum 5 years experience in a similar role
• Strong analytical skills and strategic thinking ability; ability to analyze complex financial data and trends to support decision-making.
• Excellent communication and interpersonal skills; ability to effectively interact with executive leadership, board members, and external stakeholders.
• Demonstrated leadership ability, including experience leading and developing high-performing teams.
• Strategic mindset with the ability to translate vision into actionable plans and initiatives.
• Results-oriented with a track record of driving financial performance and delivering measurable organizational outcomes.

Conclusion:

The Chief Financial Officer (CFO) is a key executive position responsible for overseeing all aspects of financial management, strategy, and governance within the organization. By providing strategic leadership, financial expertise, and operational insight, the CFO ensures compliance on all financial components.

IAW the Legal Services Board of Nunavut Inuit Employment Plan preference will be given to Nunavut Inuit.

Job Type: Full-time

Salary: $145,000.00-$178,000.00 per year

Benefits:

• Casual dress
• Dental care
• Disability insurance
• Employee assistance program
• Extended health care
• Housing allowance
• Life insurance
• Paid time off
• Relocation assistance
• RRSP match
• Vision care

Schedule:

• Monday to Friday

Experience:

• Sr accounting: 5 years (preferred)
• financial management: 5 years (preferred)

Licence/Certification:

• CPA or CA (required)

Work Location: In person

Expected start date: 2024-05-01