Vice President, Finance And Chief Risk Officer

Vice President, Finance and Chief Risk Officer (Job ID: 3460)

St. Michael's Hospital Foundation (SMHF) is the exclusive fundraising organization to generate and manage philanthropic funds for St. Michael¿s Hospital and Providence Healthcare, within Unity Health Toronto. Through multiple lines of fundraising income generation and stewardship activity, SMHF, in conjunction with Unity Health, will define and promote the St. Michael's and Providence brands to maximize philanthropic revenue to fuel their healthcare, research, teaching and health equity missions. We will inspire our communities, local, provincial, national and international, to invest in our organizations¿ priorities to drive and implement innovation that will equitably support all members of our society to manage and overcome disease and health crises and live healthier lives to create a more inclusive and thriving society. Join us!

POSITION SUMMARY

The Vice-President, Finance and Chief Risk Officer (VPFCRO) leads three business functions core to the strategic direction of the Foundation: 1.) Finance and Investment Administration; 2.) Gift Processing; and 3.) Granting. Working with the President and CEO (PCEO), the VPFCRO will lead all finance, investment and granting activities to enable the Foundation to steward its financial resources and maximize investment returns, both within acceptable risk parameters.

RESPONSIBILITIES & ACTIVITIES

RESPONSIBILITY - Financial and Investment Administration

·Oversee all financial and management accounting functions of the Foundation.

·Oversee monthly financial information, production of quarterly and annual financial statements, and the financial management and control policies and systems that support these reports.

·Lead the annual budget setting process, working collaboratively with the PCEO and VP Donor Experience and Chief of Staff to establish the parameters for the annual budget and business plan. Further, lead the design of regular reporting on revenue and expense tracking on a regular basis (daily or weekly for revenue; monthly for expenses) for use by the PCEO and their direct reports and wider staff to manage the business.

·Lead the design and development of regular reporting to the Audit & Finance Committee of the Board, collaborating with the VP Donor Experience and Chief of Staff to manage reporting timelines and agendas for the Audit & Finance Committee within the overall governance reporting timetable established by the VP Donor Experience and Chief of Staff.

·Meet annual statutory and standards requirements to ensure compliance with regulatory obligations, e.g., annual filing of T3010, Ontario Corporation returns, HST rebate returns, and Board member/Officer registers

·Working collaboratively with the VP Donor Experience and Chief of Staff and the Director of BIIT, design the financial and management reporting systems required to track and analyze all elements of the business.

·Design and oversee the treasury management function for the Foundation, managing both Foundation needs and supporting Hospital needs for information and cash flow management

·Act as lead support to the Audit & Finance Committee (or potentially standalone Investment Committee) on the selection, monitoring and evaluation of investment of Unrestricted, Restricted and Endowed Funds.

·Proactively works with the Chair of the Audit & Finance Committee and the PCEO to identify and get ahead of issues before they become problems.

·With the VP Donor Experience and Chief of Staff and PCEO, support the Board in investment management by setting and monitoring a framework for investment management and associated policies.

·Supports the PCEO and VP Principal, Major and Planned Gifts, and the latter¿s team, in the proposal and evaluation of structured gifts and tax implications of gift structures.

RESPONSIBILITY -Gift Processing

·Manage the team processing all revenue transactions for the Foundation

·Working collaboratively with the VP Donor Experience and Chief of Staff, lead the develop and ongoing review of board and management policies to support gift processing and the unpinning controls associated with the function

·Working collaboratively with the Director of BIIT, continually review operations to identify ways to implement emerging technologies and new systems to enhance performance and efficiency of the unit

RESPONSIBILITY -Granting

·Oversee and continually enhance Foundation systems to report on and grant funds to the Hospital, ensuring donor designations are honoured and developing efficient systems to enable the Foundation to report to donors on the use and impact of their funds

·Work collaboratively with the Hospital CFO and finance team, and individual units of the Hospital, to develop fund reporting structures to allow transparent view to funds received, cash flow schedules to support Hospital planning, and ease of access with transparent reporting and fund granting policies

RESPONSIBILITY ¿ Risk Management

·With the VP Donor Experience and Chief of Staff and PCEO, support the Board in risk management by setting and monitoring a framework for risk management and associated policies.

·Develop and maintain management- and board-level reporting on key risks and mitigation factors in place

·Act as the staff lead to assess current activities and new initiatives from a risk perspective and factor risk-evaluation into ongoing decision making at the Foundation

·Ensure that vendor contracts adhere to applicable laws, regulations, and internal policies, collaborating with legal and compliance teams to address any legal or regulatory issues.

KNOWLEDGE & SKILLS

·Demonstrated commitment to and understanding of the mission and values of St. Michael¿s Foundation

·A university degree and professional designation in accounting (must be a CPA)

·Seven to ten years of progressive experience in public accounting, ideally including exposure to not-for-profit accounting plus additional experience in industry.

·Knowledge and understanding of Canadian accounting standards for non-profits, Charities Accounting Act, the Income Tax Act (Canada) as it relates to charitable giving and Canadian trust law strongly desired

·Experience in risk-management and controls

·Experience in budget setting and management

·Direct experience in financial management and leadership at a non-profit organization an asset, but not a requirement

·Understanding and knowledge of investment management and evaluation of investment performance to enable interaction with managers, evaluation of performance and materials, and review proposals from market participants a strong asset, but not a requirement.

·Maintains current knowledge of industry trends and issues, and supports the Foundation in identifying emerging issues or trends, engaging staff and volunteers as appropriate.

·Successful experience in people management and leadership

·Experience and strong performance in client management

·Strong analytical skills including the ability to analyze trends from quantitative and qualitative data and work in developing and implementing strategic plans

·Demonstrated excellent written and verbal communication skills

·Excellent organizational and time management skills; ability to work towards multiple and competing goals within deadlines

·Enjoy working in a fast paced, dynamic organization with the ability to relate to a variety of personality and communication styles

·Highly collaborative with the ability to coach and mentor teams to perform, and who builds integrative bridges across business functions

·Willingness to work flexible hours

As a condition of employment, all external hires will be required to submit proof of COVID-19 vaccination or documentation unless a valid accommodation under the Ontario Human Rights Code exists. All internal candidates must be in compliance with Unity Health Toronto's COVID-19 vaccination policy.