Vice President, Finance

Winnipeg, MB, Canada

Friday, March 1, 2024

LOCATION: Winnipeg or Altona MB (Hybrid)

SCHEDULE: Full-time

REPORTS TO: SVP, CFO & CRO

COMPANY PROFILE:

Red River Mutual is a progressive insurance company with a focus on our customers and employees. We believe everyone has a right to feel safe and protected, and to know that someone is looking out for them. We treat our employees like family members – we’ll be honest with them, support them, offer a listening ear, admit when we’re wrong and be a positive force in their lives and in our communities.

PURPOSE OF POSITION:

The Vice President, Finance will play a key role in the oversight of the day-to-day operations within an organization's finance department, such as budgeting and forecasting as well as, shaping and executing the financial strategy of Red River Mutual. This executive will provide leadership and direction for all financial functions, supporting the organization's financial health and stability. The ideal candidate will bring a proven track record of success in financial management within the insurance industry, demonstrating strategic thinking, strong analytical skills, and the ability to drive financial performance.

KEY RESPONSIBILITY AREAS:

Financial Strategy and Planning:

Support the development and implementation of comprehensive financial strategies aligned with the company's business objectives.

Provide financial insights and recommendations to the executive leadership team and the Board of Directors.

Drive annual budgeting and forecasting processes, monitoring financial performance against targets.

Identify and implement process improvements to enhance the efficiency and accuracy of financial operations and tasks.

Financial Reporting and Analysis:

Ensure the delivery of timely, complete, and accurate internal and external (audited) financial and regulatory reporting. (monthly, quarterly, and annually) for internal and external stakeholders.

Develop a strong understanding of relevant financial reporting standards, including IFRS 17 and regulatory capital reporting (Minimum Capital Test)

Collaborate with cross functional teams and departments to develop budgets, forecasts, and financial models.

Conduct in-depth financial analysis to identify trends, opportunities, and areas for improvement.

Ensure compliance with industry regulations and accounting standards.

Collaborate with risk management function to identify and mitigate financial risks.

Implement effective internal controls and ensure adherence to regulatory requirements.

Monitor market trends and assess their impact on the company's financial position.

Investment & Treasury Management:

Support the management of the company's investment portfolio, optimizing returns within risk tolerance.

Provide recommendations on investment strategies to maximize long-term financial growth.

Oversee cash management and liquidity, ensuring the availability of funds for operational needs.

Develop and maintain relationships with financial institutions and investment partners.

Leadership:

Lead and mentor the finance team, fostering a culture of collaboration, excellence, and continuous improvement.

Recruit, train, and develop finance professionals to enhance the overall capabilities of the department.

Motivate, coach, and hold accountable employees under your direction in the business.

Administer timely performance reviews, assessing needs for education, rewards and setting direction.

Embody and influence the organization to have the following leadership competencies:

Definition

Integrity, Ethics, and Respect

Exemplifies ethical practices, professionalism, and personal integrity in dealing with both internal and external colleagues and stakeholders. Creates a respectful and trusting work environment where sound advice is valued. Encourages the expression of diverse opinions and perspectives, while fostering cooperation. Challenges biases and looks to remove them. Self-aware and seeks out opportunities for personal growth. Builds a respectful workplace. This competency is the basis for all other competencies.

Strategic Orientation

Visions the future, builds plans, makes decisions, and executes to get there. Intellectually agile, leverages deep and broad knowledge, to build on diverse ideas and perspectives. Creates consensus around compelling visions to support the short and long-term goals and deliverables of the company.

Motivate and Inspire People

Shows passion for the job. Committed to ongoing improvement of own skills as well as employees’ skills. Inspires and motivates the people they lead. Manages performance, provides constructive and respectful feedback and mentorship to encourage and enable performance excellence. Gives autonomy in important areas of work and involves employees when making decisions that affect them. Is self-aware and demonstrates a commitment to ongoing learning and development.

Effective Communication

Fosters open communication, listens to others, speaks effectively, and prepares written communication so that messages are clearly understood. Tailors’ language, tone, style, and format to match the audience.

Accountability and Results

Enables and manages resources to deliver on the priorities of Red River Mutual, to improve outcomes and add value. Takes personal responsibility for actions and outcomes of decisions and inspires others to do the same. Delivers on business results by using sound critical thinking skills and initiative. Aligns people, work, and systems with the business strategy to harmonize what they do and how they do it to meet business objectives.

Promote Innovation and Embrace Change

Thinks creatively; is open to new ideas and technologies. Champions change. Is flexible and adaptable in meeting changing demands of clients and stakeholders. Uses setbacks as a valuable source of insight and learning. Takes change in stride, aligning and adjusting milestones and targets to maintain forward momentum.

Collaborate and Engagement with Colleagues and Stakeholders

Works collaboratively with colleagues and stakeholders. Gathers input, genuinely values others’ ideas and expertise; willing to learn from others. Works with others to resolve conflicts, by using problem solving and communication skills. Recognizes that the leader alone cannot get the job done. Surrounds self with excellent talent. Builds successful relationships within team, as well as with internal and external stakeholders.

QUALIFICATIONS & SKILLS:

Bachelor’s degree in finance, accounting, or a related field required MBA, CPA or other relevant designation preferred.

8-10+ years of progressive financial leadership experience required, with at least 5 years in the insurance industry preferred.

Experience in a Senior leadership position, including leading a financial/Accounting team required.

Demonstrated ability to act as an advisor and collaborate with the Executive team to deliver on business strategies and operational goals.

Strong business acumen – the ability to see the big picture, provide guidance to stakeholders and management, enabling the overall organization to attain its goals and objectives.

Proven success in developing and executing operational plans in alignment with financial strategies that drive business objectives.

Strong understanding of insurance financial operations, including actuarial principles and regulatory requirements.

Effective written and verbal communication and presentation skills, with the ability to convey complex financial information to diverse audiences and stakeholders in an audience friendly manner.

Leadership experience in managing and developing high-performance teams.

Proficient adaptability and change management skills to meet changing business needs and priorities.

Demonstrated ability to set clear direction and performance standards, build and sustain effective working relationships, to motivate and maintain a positive team environment.

Adept problem solving, negotiation, decision making and critical thinking skills, with a high attention to detail, excellent organization, prioritization, and time management skills.

Strong interpersonal and emotional intelligence skills

Demonstrated analytical, reporting, prioritization, and evaluative abilities in a high-pressure environment with p roven strategic planning and business project management and implementation skills.

We thank all applicants for their interest; however only those selected for an interview will be contacted.

Accommodation for applicants with disabilities is available upon request any time during the recruitment process. Our Accessible employment policies and practices are available on request and in accessible formats. Applicants with disabilities can request accessible formats of communication and/or request an alternative method of applying for a position by contacting [email protected] or 1-800-370-2888 (toll free).

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