Law Society of Ontario

  • Executive Director, Finance

    Job Location CA-ON-Toronto
    Job ID
    2018-1600
    # Positions
    1
    Job Type
    Full Time
    Years of Experience
    10+
    Term
    Permanent
  • OVERVIEW

    JOB PURPOSE:

     

    The Executive Director of Finance provides leadership with respect to accounting, internal control policies and strategies, and relevant operational activities or processes, to the CEO, Senior Management Executive, the Law Society’s Audit and Finance Committee, other Committees as required, and Convocation.  This includes the development and monitoring of the Law Society’s annual budget and budget process, projecting reasonable revenues and expenses, including capital and operating items, in order to implement the policies of Convocation and ensure the financial viability of the organization.  The Executive Director manages a staff of 20+ and is accountable for the integrity of all financial accounting, financial reporting, accounting and investment policy development.

     

    In addition to fulfilling the role of senior financial officer at the Law Society, the Executive Director is also responsible for providing leadership and support to subsidiaries of the Law Society, as required, including the Law Society Foundation Board, LibraryCo Inc. and the Lawyers Feed the Hungry program.  This entails supporting the development of financial reporting policies and overseeing the production of financial reports and all government filings.

     

    QUALIFICATIONS/EXPERIENCE REQUIRED: 

     

    • University undergraduate degree in business or related area. CPA designation will be an asset.
    • The position requires a minimum of 15 years’ progressive related experience, 5 of which are in a managerial / leadership capacity. 
    • Experience dealing with large, multi-interest boards, either as a board member or in a capacity working with such boards in order to move various financial and regulatory requirements forward, is essential.
    • In depth knowledge and understanding of budgeting, cash flow, accounting standards and principles, systems of internal control, financial analysis and government and financial reporting in a not for profit environment.
    • Solid understanding of investment management, errors and omissions, directors and officers and property insurance, banking arrangements and defined contribution pension plans.
    • Solid understanding of charity accounting and reporting, government reporting and receipting requirements.
    • Proven ability to lead, manage, retain and develop key management talent, who in turn manage a significant portion of the Law Society’s employee group.
    • Demonstrated ability to assess organizational capabilities and adjust plans as required to successfully carry out organizational strategies.
    • Awareness of and demonstrated savvy related to political processes and development and implementation of strategies for resolution of controversial issues.
    • Financial acumen to develop and monitor a departmental budget and provide oversight and overall accountability for planning and control of $140 million budget and investments of $110 million.

     

    KEY ACCOUNTABILITIES

    Corporate Governance

     

    • Fulfils the statutory requirements and responsibilities of the senior financial officer, ensuring that all financial statutory and legal requirements are met for the Law Society, the Law Society Foundation, LibraryCo Inc. and Lawyers Feed the Hungry program. 
    • Provides policy and operational advice and guidance to the Law Society’s Audit and Finance Committee in exercising their duties to maintain the financial integrity of the Law Society and its operations. 

    Strategy Development and Implementation

         

    • As a member of SME, takes an active and significant role in the development and implementation of the Law Society’s strategic plan and related annual operating plans. 
    • Assesses organizational risk and formulates appropriate policy and procedural responses to a variety of crises, including business continuity policies and procedures, and the provision of adequate insurance coverage. 

    Service Planning

     

    • Identifies impediments to the implementation of Convocation’s policies related to fiscal constraints. 
    • Advises bencher committees, the Law Society Foundation, LibraryCo Inc. and Lawyers Feed the Hungry program on alternatives and priorities, ensuring their full understanding of the implications for delivery of services based on decisions taken. 
    • Provides leadership as require to ensure that government / regulatory requirements are met. 

    Operations

     

    • Ensures that activities of Finance department are aligned with overall plans and strategies of the organization, approved budget allocations and corporate policies. 
    • Ensures that accounting policies and internal controls are effectively implemented across the organization. 
    • Oversees the billing of members and all payments including accounts payable and payroll as well as the issuance of government reports and tax documents.
    • Proactively plans to improve processes and create efficiencies related to the financial activities of the department and the organization. 
    • As a member of the Pension Committee, fulfils fiduciary requirements with respect to the governance, management and operations of the employee pension plan. 

    People Leadership

     

    • Hires, trains, develops and evaluates employees accountable to the Executive Director in accordance with the policies of the organization and best human resources practices. 
    • Fosters a team environment by role modeling leadership behaviour, empowering employees accountable to the Executive Director and building team capability. 

    Financial Responsibility

     

    • Develops and monitors the division budget and leads the development and implementation of the organization’s budget process, adjusting plans and negotiating changes with other members of SME, as required, to ensure adequate funds are available to support programs.
    • Approves specific financial transactions and acts as signing authority on behalf of the Law Society, Law Society Foundation and LibraryCo Inc. on contracts, payments, government and financial documents.  As delegated, acts as signing authority in the absence of the CEO. 
    • Oversees the issuance of and signs all Law Society Foundation donation receipts.
    • Advises benchers on investment policies and invests the assets of the Law Society, Law Society Foundation and LibraryCo in accordance with approved policy. 

    Policy Development

     

    • Provides proactive policy-oriented leadership to SME, the Law Society’s Audit and Finance Committee, Law Society Foundation board, LibraryCo Inc. board and Lawyers Feed the Hungry program, identifying financial impediments to policy implementation. 
    • Provides guidance and recommends alternatives, ensuring the financial stability of the organization.
    • Acts as staff resource to the Law Society’s Audit and Finance Committee and to the Law Society Foundation and LibraryCo boards, advising, guiding, analyzing and researching policy initiatives and policy changes within the purview of the Executive Director’s mandate. 
    • Drafts and circulates reports for the bencher / board decision making process and informational requirements, preparing agendas, minutes and summaries of meetings. 

    Team Membership

     

    • Is a proactive and committed member of SME.  Demonstrates personal excellence, bringing knowledge and functional expertise to the team. 
    • Contributes to group decision-making and processes, generating ideas which are strategically sound, integrated with the Law Society’s broader mandate, and achievable in a timely, balanced and fiscally sound manner. 

    Relationship and Alliance Building

     

    • Builds relationships and fulfils a variety of roles and functions related to numerous organizations whose mandate impacts or may impact upon the various operations of the Law Society, including, but not limited to LibraryCo Inc., LawPro, the Law Society Foundation, the Law Foundation of Ontario, the Osgoode Society, Federation of Law Associations of Ontario. 
    • Builds relationships with important service providers representing the Law Society’s interests and raising the profile of the organization with those service providers, including but not limited to, bankers, external auditors, insurance companies, investment managers and advisors, pension advisors and counsel.

     

    COMPETENCIES

    Organizational Understanding

     

    Understands the business and relationships with key stakeholders in a professional regulatory environment.

     

    Team Orientation

     

    Shares responsibility for the achievement of results, modeling organizational values and coaching others in demonstrating these values.

     

    Results Orientation

     

    Strives to continuously move the organization forward without sacrificing service values.

     

    Strategic Thinking

     

    Thinks through issues with consideration of broader organization priorities and longer-term outcomes.

     

    Authentic and Ethical Leadership

     

    Aligns actions and decisions with the mandate and values of the Law Society.

     

    Building Positive Relationships  

     

    Builds effective relationships, networks of contacts and partnerships to advance the work of the Law Society.

     

    Leadership

     

    Develops effective, highly-motivated individuals and teams to achieve common goals.

     

    Innovation

     

    Develops and implements leading edge innovations in regulatory policy and practice.

     

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