Chief Financial Officer
City of Cambridge
Chief Financial Officer
Formed in 1973 from the former communities of Galt, Preston, Hespeler and Blair, Cambridge is a modern city with a rich architectural heritage and a population of 135,000. Cambridge is now the second largest community within Waterloo Region, due to its strong economy and culture and it is one of the fastest growing and strongest economic areas in Canada. Cambridge maintains three unique downtown cores, and a variety of financial incentives have driven the revitalization of the city’s downtown and waterfront areas that have preserved the past while driving innovative architecture, urban planning, development, construction and attracting new businesses. Over the past ten years $244 million has been invested annually in building construction, with one third towards the new residential sector and in the past five years, the establishment of new business has increased 3.4% annually. Cambridge's thriving business climate is why many businesses are choosing to locate and expand here and Cambridge will continue to expand and diversity.
Reporting to the Deputy City Manager, Corporate Services, the Chief Financial Officer (CFO) will be responsible for the statutory duties of the Treasurer as well as the financial management of the City of Cambridge. Leading the Financial Services Division, the CFO will coordinate and manage the annual budget, the preparation of financial statements and analysis and provide ongoing variance forecasting, accounting, taxation, water billing, collections, purchasing and inventory services. Guided by the CFO’s Expectations, the City’s Leadership Governance Model and the Corporate Values of Integrity, Respect, Inclusiveness and Service, the CFO will aid in the achievement of Cambridge’s Vision – A Place for People to Prosper – alive with opportunity.
- The CFO is a strategic partner to Council, the City Manager and the Corporate Leadership Team (CLT). Informing decisions and providing financial guidance and sound advice on a broad range of financial issues and their operational implications, such as financial strategies for major projects, and financial modelling.
- An innovative professional who enjoys the challenge of finding alternative solutions to complex problems and working with City staff to leverage alternative sources of funding to meet City priorities. Demonstrating leadership, an enterprise mindset and expertise to implement leading-edge financial reporting systems and financial controls and structure that will ensure that City assets are protected.
- Leads the preparation and control of City’s Operating, Capital (supporting the Director of Asset Management/Project Management Office), Water and Sewer, and Equipment budgets. Recommends budget guidelines and policies as well as changes to the budget process. Conducts long-term financial planning for the City and develops long term funding strategies.
- Responsible for preparing the Budget Reports for Council for the Operating and Capital Budgets. Attends all Council meetings.
- Provides guidelines and technical assistance to all City departments in the preparation of the Operating and Capital budgets and participates in Budget Committee meetings.
- Responsible for the approval of the monthly financial reports for the Operating Fund, Capital Fund, Water and Waste Water Fund and Reserve and Reserve funds prior to distribution to departments. Participates in monthly budget control meetings.
- Responsible for coordinating the preparation of Monthly Budget Control Reports for the City.
- Develops and monitors division budget, sets divisional strategies and priorities within context of Corporate and departmental goals.
- Develops the year-end audit procedure and oversees the year end process.
- Oversees the development / implementation of financial reporting tools to enhance reporting capabilities for all departments at the City.
- Responsible and accountable for salary planning in partnership with Human Resources.
- Responsible for assisting all the ongoing implementation, training, security and support of the financial systems in partnership with Technology Services.
- Makes presentations to Council related to own division operations as well as part of corporate financial analysis.
- Oversees the billing and collection of Taxes and Water. Reviews operations on a regular basis and directs technology enhancements related to this function.
- Oversees the assessment review process ensuring the City’s assessment base is maintained
- Responsible for administration of Reserve and Reserve Funds. Analyzes and makes recommendations to the Treasurer on Reserve and Reserve Fund policies and procedures for the City.
- Audits status and commitments of Reserve and Reserve Funds and Capital Contingency.
- Prepares the update report on Reserve and Reserve Funds for each term of Council.
- Interpret Public Sector Accounting Board, by-law, and legislation that affect the City.
- Approves all major transfers and wire payments related to investments / transferring of tax revenue to the Region and School Boards.
- Leads the purchasing function. Ensures purchases are made in accordance with the City’s purchasing by-law.
- Responsible for the Development Charges studies.
- Performs specific Internal Audit functions as requested.
- When required acts as a back-up to the Deputy City Manager, Corporate Services.
Qualifications and Experience
- University degree in Finance, Economics or Business and a professional accounting designation (CPA). An MBA or MA would be an asset
- 15+ years’ experience in financial management with a large, complex public, private or not for profit organization with at least 3-5 years in a senior leadership role.
- Excellent leadership and communication skills with a track record of applying an open, collaborative leadership style to support strategic decision-making within a senior corporate leadership team and to motivate and mentor a team to a high level of performance.
- Annual salary range of $ 132,994 to 162,189 (Non Union Salary Scale, Grade 11)
- Comprehensive benefits package including extended health, dental, travel benefits; long term disability; accidental death and dismemberment and life insurance.
- Enrolment in Ontario Municipal Employees Retirement System (OMERS).
To express interest, forward a cover letter and resume by October 8 2018 to:
Patrick Rowan, Partner
Feldman Daxon Partners
45 St. Clair Avenue West, Suite 700
Toronto, Ontario M4V 1K9
Tel.: 416-515-7600 x254
About Feldman Daxon Partners www.feldmandaxon.com
Feldman Daxon Partners is Canada’s longest-standing national provider of executive search, career transition, and coaching/leadership development services. Since 1991, we have been at the forefront of innovation in human resources consulting by integrating these three services. Our Executive Search practice has been locating top talent for senior executive and managerial positions on a retainer-fee basis since our firm was founded in 1991. Our unwavering set of core values and dedication to client service has allowed us to build and maintain relationships with hundreds of clients in virtually every market sector, and across Canada. Regular communication, high quality candidate shortlists, industry knowledge, judgment, and expediency in our retainer search services are all reasons Canada’s leading companies choose to partner with the professionals at Feldman Daxon.
Accommodation Needs and Protection of Privacy
The City of Cambridge is committed to inclusion and diversity and encourages applications from all qualified individuals. Accommodations are available on request for candidates taking part in all aspects of the selection process. Please make your needs known in advance by contacting the Human Resources Division.
Personal information collected in relation to the recruitment process is collected under the authority outlined in the Municipal Freedom of Information and Protection of Privacy Act and used solely to determine eligibility for employment with the City of Cambridge only.