Chief Finance and Compliance Officer

2 weeks ago


Welland ON, Canada Penfinancial Credit Union Ltd Full time

We may offer the same products and services as a big bank,but we couldn’t be more different. We’re rooted in purpose and we’re on a mission to improve lives and strengthen communities . We support nearly 20,000 members and businesses digitally, over the telephone, and in-person across a network of six branches across Niagara and Haldimand.
At PenFinancial, our people are our greatest asset and our values speak for themselves: accountability, passion, integrity, respect, and knowledge . We provide all of our employees with a generous benefits package that includes aLiving Wagesalary, defined contribution pension plan and performance-based success sharing. Our commitment to community
We live our brand from the inside out, and ourTruly Local Commitmentstarts with our employees. We encourage our employees to give back to the causes that are meaningful to them and their families by providing opportunities to volunteer and represent our truly local credit union through ourTruly Local Ambassadorprogram. And, we also commit to investing a portion of our profits directly back into our local communities.
We are a proud Certified B Corporation committed to doing business for good, and we choose 100% renewable energy with Bullfrog Power to support environmental sustainability.
Leads the finance, accounting, risk management, compliance and regulatory functions for the Credit Union. Serves as a key advisor to the CEO and Board of Directors and a key contributor on the Senior Leadership Team.
Serve as a key strategic advisor to the Senior Leadership Team (SLT) as it pertains to finance, accounting, treasury, risk management and regulatory functions and shares the responsibility for strategic planning and the overall financial performance of PenFinancial.
Serve as primary financial resource to the Board of Directors and its related Committees including presentations at and active participation in all Board of Directors meetings and Audit & Risk Committee meetings.
Track organizational performance as compared to balanced scorecard and report to SLT and Board, as appropriate including data to support decision-making across the organization.
Provide strategic leadership and oversight for all aspects of risk and compliance ensuring PenFinanical achieves compliance in all areas and follows industry best practice. Provides strategic oversight by anticipating trends and monitoring their impact on PenFinancial’s overall risk and business strategy.
Lead the preparation of the financial portion of the annual report and present the audited financial statements to the membership at the Annual General Meeting.
Lead the Credit Union’s Asset/Liability Management practice including chairing ALCO meetings (or appointing a delegate to do so), ensuring compliance standards and best practice standards are met and financial performance is maximized.
Monitor results against budget, identify variances and propose measures to ensure performance is aligned.
Full accountability for the strategic leadership to the management of the PenFinanical’s liquidity including leadership of borrowing and securitization strategies ensuring compliance, profit and growth.
Chair the Interest Rate Committee including monitoring market trends, developing proposals for changes consistent with the desired strategic price positioning.
Accountable for all accounting standards and policies for the Credit Union ensuring in compliance.
Accountable for Enterprise Risk Management (ERM) practice, ensuring all programs comply.
Accountable for risk management as it pertains to capital risk management, structural risk management, market risk management and liquidity risk management.
Oversee relationship with all external and internal audit providers.
Design, implement and monitor compliance with all internal controls related to financial reporting.
Oversee all insurance policies to ensure sufficient protection of property and all other assets as necessary.
Compliance Leadership
Oversee the compliance function including anti-money laundering and all FINTRAC requirements.
Oversee relationship with internal audit provider.
Oversee accounting activities and general ledger including a transfer pricing model that supports multi-branch profitability measurement and financial accountability.
Oversee all accounts payable in accordance with policy and approved budget.
Oversee payments to employees for payroll and expense reports.
Proactively coach to support the personal growth and development of direct reports including coaching and performance management, career planning and develop a highly engaged, diverse and capable team to execute departmental plans/strategies and build strong relationships with others/members.
University degree in accounting/finance
~ 5+ years of treasury management experience
~10+ years of accounting/finance experience in a leadership role



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