Internal Posting

Job Title: Chief Financial Officer

Job ID #: OPS - CFO - 2-21-2025

Department: Integrated Health Services

Reports to: President & Chief Executive Officer

Salary: $140,000 - $155,000 per annum.

Status: Permanent, Full Time

Hours: 37.5 hours per week

Direct Reports: Two (2)

Who We Are:

Sherbourne is a leading provider of quality health care and transformative support to people who face social, economic, and other systemic barriers. Our mission is to be a dynamic provider of integrated health services, community programs, and capacity-building initiatives that enable people and diverse communities to achieve wellness.

Sherbourne provides innovative health care and social services to the diverse urban population of southeast Toronto. While our doors are open to everyone, we focus on people experiencing homelessness or who are under-housed; 2SLGBTQ+, and newcomers to Canada. We are funded by the Ministry of Health, Ontario Health, Ministry of Community, Children and Social Services, the City of Toronto, and many generous donors and foundations.

About the Role:

The Chief Financial Officer (CFO) contributes to the overall success of the organization by overseeing all financial and IT functions. The CFO oversees an operating budget in excess of twenty million dollars, leads the development and stewardship of finance policies, processes, and controls, and functions as the organization's Controller. They monitor all regulatory and funding requirements and ensure that the organization meets its obligations. The CFO will oversee Sherbourne's procurement function and manage its contracts, including liability insurance and relevant vendor and service agreements. The CFO also serves as an expert advisor and support resource for management in all matters related to finance and our budget.

The CFO will also oversee the Information Technology needs of the organization, including supporting the IT Consultant and their team in ensuring that IT infrastructure meets the needs of the organization in a functional, secure, and cost-effective manner.

Scope of the Mandate:

The CFO is a member of the Senior Management Team and is expected to provide active participation, leadership, and direction within the organization. This position ensures legal and regulatory compliance concerning accounting and financial reporting functions. The CFO also oversees cost and general accounting, accounts receivable/collection, and payroll. They focus on developing and leading a high-performing, service-oriented finance & IT teams and provide backup support to the President & Chief Executive Officer.

Working at Sherbourne:

At Sherbourne Health, we care about our staff and recognize that our biggest strength is our people. We have a solid commitment to lifelong learning which is demonstrated through our professional development program. We invest in collective work and staff training to improve client care. We supplement this by creating a low-barrier work environment built on equity and respect, while working together in caring, cohesive teams and providing opportunities for advancement.

We believe in work-life balance and offer:

• A competitive salary.
• Membership in Healthcare of Ontario Pension Plan (HOOPP).
• Up to five weeks of vacation per year (to start).
• Up to four personal days per year.
• An extended healthcare and dental package.
• Long-term disability insurance.
• Life insurance.
• An employee assistance plan.
• A generous professional development plan: up to $1,300 to be used towards learning activities.
• Up to six fully paid professional development days per year - related to position/responsibilities.

Responsibilities and Tasks:

Finance

Financial Operations & Risk Management

• Oversees development and maintenance of timely and accurate financial statements and reports that are appropriate for the users and in accordance with generally accepted accounting principles (GAAP).
• Oversees development and implementation, and monitors compliance with internal financial and accounting policies and procedures; including procurement, vendor contracts, and professional and all other insurance coverage.
• Ensures that all statutory requirements of the organization are met including Charitable Status, Withholding Payments (CPP, EI), Income Tax, Goods and Services Tax, Employer Health Tax, and HOOPP.
• Actively contributes to the Enterprise Risk Management Program, including monitoring any risks to the organization financially and raising concerns and solutions to the Management Team.
• Prepares all supporting information for the annual audit and provides supporting materials required for the Board's Finance & Audit Committee.
• Responds to all inquiries made by the external auditors.
• Participates fully in Finance & Audit Committee meetings, working closely with the Chair/Treasurer.
• Documents and maintains complete and accurate supporting information for all financial transactions.
• Develops and maintains financial accounting systems for cash management, accounts payable, accounts receivable, credit control, and petty cash.
• Reconciles bank and investment accounts.
• Reviews monthly results and implements monthly variance reporting.
• Manages the cash flow and prepares cash flow forecasts.
• Provides direction on the bookkeeping function including maintenance of the general ledger, accounts payable, accounts receivable, and payroll.
• Develops and implements policies and procedures to ensure that employee and financial information are secure and stored in compliance with current legislation.
• Manages the acquisition of capital assets and ensures that assets are properly recorded, amortized, and disposed of as appropriate.
• Provides direction for the annual T3010 charitable return in a timely manner as appropriate.
• Liaises with the Treasurer, Finance & Audit Committee as appropriate.
• Provides the President & Chief Executive Officer and the Board Treasurer with financial reporting as required at Board meetings, committee meetings, and the Annual General Meeting.

Payroll

• Oversees payroll functions and processes to ensure that employees are paid in a timely and accurate manner and in accordance with the Collective Agreement, where applicable.
• Ensures that statutory, benefits, and union remittances are made in a timely manner.
• Validates annual T4 and T4A in coordination with payroll providers for all employees and contractors.
• Participates in the management of the employee insurance and benefits plans.

Budget and Audit

• Leads Finance team in preparing for the annual audit.
• Collects and organizes budget information and supports Senior Management in developing and inputting annual budgets.
• Collaborates with Senior Management to develop unit/project costings, financial modeling, and other business intelligence.
• Works with Fund Development team on revenue management; specifically accurate booking and reporting of fund development.
• Reports to, and advises, management on revenue optimization opportunities and strategies.

Procurement

• Develops organization procurement policies and procedures; advises on, and monitors compliance with same, as well as legislation and funder directives.
• Manages all service contract processes, including managing a repository and timely evaluation/renewal of contracts.

IT Management

• Oversees information technology strategies and plans to support organizational strategic priorities and anticipate future needs.
• Oversees and reports to the Senior Management Team on KPIs and risks related to IT, and develops and implements mitigation strategies in accordance with the Enterprise Risk Management policy and program.
• Oversees the use of IT Vendors and Contractors, and ensures the ongoing effective operation of IT infrastructure and services that support the organization's strategic priorities and operational functions.
• Develops, maintains, and monitors IT budgets and annual operational plans.
• Supports IT Staff and Contractors in maintaining IT infrastructure.
• Ensures the development of IT policies, procedures, and training materials.
• Oversees the delivery of IT support services to end-users.
• Manages IT vendors and service providers, and ensures compliance with service level agreements to optimize value.
• Supports IT staff and contractors in ensuring business continuity and resilience and protects information assets by planning, implementing, and monitoring backup, disaster recovery, and information security controls and procedures.
• Plans and manages multiple concurrent projects focused on refreshing enterprise IT infrastructure and services.
• Ensures that cybersecurity measures are in place and reviewed at least annually to ensure the safety and security of our data and client record systems.

Organizational Planning and Leadership

Senior Leadership Functions

• Acts as main liaison with all funding partners on financial matters relating to the budget.
• Acts as main liaison with external auditor.
• Participates in Management team meetings and leads budget with department managers.
• Attends all board meetings . click apply for full job details