Vice President and Chief Financial Officer
BC Transit coordinates the delivery of safe, reliable, cost-efficient and market-focused transit services in BC outside of the Greater Vancouver region. Working in partnership with local governments and private companies, BC Transit staff provides direct services in fleet acquisition and management, contract administration, transit planning, marketing and financial services. BC Transit is a provincial crown corporation.
This position is based in Victoria which is located on the southern tip of Vancouver Island. Victoria (regional population 330,000) is the capital of British Columbia and a community of choice for many, due to our temperate climate, natural beauty and diverse economic opportunities. Victoria is an international resort destination with a transportation network that includes airport, helicopter and seaplane services, buses, ferry, cruise ship and passenger train service.
Reporting to the President and Chief Executive Officer, the Vice President Finance and Chief Financial Officer (CFO) leads a diverse portfolio of finance and corporate services with enterprise-wide strategic influence. As a key member of BC Transit’s Senior Leadership Team, the Vice President Finance and CFO provides leadership in financial planning, financial operations, supply chain, procurement and risk management. Engages in enterprise-wide strategic planning and shares accountability for the overall achievement of the organization’s results.
- Translates the organization’s strategic direction into broad divisional strategies with accountability for enterprise wide integration and alignment. Approves and monitors targets and measures for the achievement of divisional goals. Provides leadership and guidance to the functional areas of the Finance Division through the divisional management team.
- Oversees the development and implementation of corporate financial, supply chain and risk management policies.
- Leads the development and delivery of financial functions and services, including revenue control, corporate and capital cost control, operations funding, strategic sourcing, and treasury and enterprise risk management.
- Acts as the Corporation's senior advisor in financial matters, including working directly with the BC Transit Board of Directors (Audit and Finance and Risk Management Committee), the Auditor General and other public sector organizations.
- Ensures the Corporation complies with and adheres to federal and provincial reporting requirements and policies, and generally accepted accounting principles.
- Develops and recommends to the CEO annual and/or multi-year budgets to support the attainment of key corporate objectives.
- Oversees all aspects of the financing activities of the company, including the development of internal controls over financial reporting.
- Takes action to maintain the organization’s financial strength through the delivery of timely and accurate financial statements, compliance with statutory requirements and deadlines and completeness and accuracy of capital costs controls.
- Ensures divisional readiness to identify and mitigate critical risks and also to leverage emerging opportunities, alerting the executive team and recommending strategic action that may impact achievement of broad, enterprise wide results.
- Ensures appropriate internal and external audits are conducted.
- Provides reports to the Board of Directors, Regional Partners, and internal staff concerning the financial status of BC Transit and its various transit systems.
- Participates, as a member of the Senior Leadership Team in the establishment and development of corporate objectives, strategies, policies, programs, practices and philosophies. Positions the division for operational efficiency and effectiveness through implementation of innovative practices, processes and systems, and also ensures compliance with all relevant legislation, acts and regulations.
- Represents BC Transit in the development of positive and productive relationships with key stakeholders, including government, business, public, customers, employees and others.
- Leads strategic financial planning and analysis for optimum organizational performance.
- Provides direction for the annual budget preparation, financial forecasts, and preparation of financial statements and overseeing and managing actual results to budgets.
- Responsible for the development and maintenance of financial controls, including corporate financial policies, procedures and standards to ensure consistent application of accounting and financial services.
- Ensures external and internal financial reporting is conducted in a timely manner.
- Responsible for the establishment of effective treasury controls and processes, responsible for debt, interest, risk, cash, insurance, and capital structure.
- Partners with divisional unit management to identify measure and mitigate financial risks.
- Develops standardized lease-buy analysis methodologies and models for equipment, facilities, IT infrastructure and vehicles.
- Works directly with investment banks, oversees sinking funds and reserves.
- Provides executive oversight related to capital and real estate investments.
Enterprise Risk Management:
- Responsible for overseeing the development of enterprise wide risk management programs which includes risk management of corporate insurance programs and a province wide supply chain network.
- Responsible for the development, implementation and management of an enterprise-wide risk management plan to achieve the highest integrity within BC Transit including reputation, financial and operational risk for over 80 provincial transit systems.
- The Vice President Finance and CFO drives business performance through the convergence of risk and compliance processes and programs.
- Oversees the development of leading edge risk measures to report significant trends and portfolio characteristics.
- Responsible for the development of risk policies and applies them enterprise wide in support of BC Transit’s operations.
- Manages the development and implementation of key performance indicators for risk management planning and forecasting.
Supply Chain Management:
- Provides executive leadership in supply chain sourcing, planning, procurement and delivery of goods and services in support of 80 provincial transit systems.
- Responsible for BC Transit’s fuel procurement strategy.
- Manages the development and implementation of key performance indicators for supply chain planning and forecasting.
Education and Experience
- Requires a university degree in a related discipline and a recognized accounting designation, preferably a CA.
- Ten years of senior financial management experience in a complex regionally diverse organization, including responsibility for supply chain management and enterprise wide risk management programs.
- Demonstrated project management and organizational abilities, including the ability to manage a number of complex issues while still delivering results.
- Proactive problem solving and decision making abilities.
BC Transit Offers:
- Competitive compensation
- Extensive group benefits (medical, dental, extended health, life insurance & Health Spending Account) and a defined benefit pension plan.
- On-site fitness centre, health and wellness programs, and an employee and family assistance counseling program
Please reply with an accompanying resume and covering letter quoting competition #2014-050
“VICE PRESIDENT FINANCE AND CHIEF FINANCIAL OFFICER” to:
BC Transit, Human Resources Department
520 Gorge Road East
Victoria, BC V8W 2P3
Position will remain open until filled.
BC Transit Is Committed To The Principles Of Employment Equity
We thank all applicants for their interest, only applicants selected to participate in the recruitment process will be contacted.