Chief Financial Officer
Position Title: Chief Financial Officer
Organization: Covenant Health
Reports To: Chief Executive Officer
About Covenant Health:
Leading with an innovative and compassionate response to community needs.
With a focus on serving the most vulnerable and marginalized in society, Covenant Health provides high quality care across the full range of healthcare services in 12 communities across Alberta. A leader and key partner in the Alberta healthcare system, Covenant Health is driven by innovation and compassion to meet the needs of individuals, their families, and the communities in which they live.
As one of Canada’s largest Catholic healthcare providers, Covenant Health is committed to diversity and inclusion, serving, employing and celebrating people of all faiths, cultures and backgrounds. We honour the legacy of our Catholic health ministry by fulfilling our ethical commitments and creatively giving life to our mission in the places we are called to serve. This includes building connections to and understanding the changing needs of the communities we serve, advocating for opportunities to optimize care and address unmet needs.
With a workforce comprising approximately 11,000 staff, 730 volunteers and 2,410 physicians who either designate a Covenant site as their primary location for practice, or have privileges, Covenant Health provides a range of healthcare in communities across Alberta, including acute care services in two of Edmonton’s busiest hospitals. The Misericordia and Grey Nuns Community Hospitals account for nearly one quarter of the Emergency department visits in the Edmonton Zone and about 30 percent of the bed base in the zone.
In addition to acute care, mental health, addiction, continuing care, assisted living, hospice, rehabilitation and respite care, and seniors' housing round out the complement of services Covenant provides across the province. Covenant Health provides 1 in 4 provincially funded palliative and hospice beds in Alberta, supporting palliative needs in urban and rural communities. Covenant’s Villa Caritas is a unique acute mental health facility specializing in caring for seniors with complex mental and medical health issues.
As a member of the Executive Leadership Team (ELT), The Chief Financial Officer (CFO) reports to the Chief Executive Officer (CEO) and provides executive leadership for all aspects of financial management for the Covenant family which includes Covenant Health, Covenant Care and Covenant Living (COV). Responsibilities include joint accountability with other members of the ELT in providing strategic direction to the organization; achieving the organization’s vision and strategic goals; and building and maintaining Covenant’s mission-inspired culture. The CFO provides leadership that builds on the tradition, values and strategic direction of the COV family, functions as a key steward with respect to legislation, regulations, policies, directives and standards and provides advice, guidance and recommendations related to financial management, funding initiatives and resource allocations.
- Provides administrative, budgetary, and fiscal direction to the COV family including financial planning and analysis, funds management, internal audit, capital management and materials management.
- Identifies appropriate benchmarks for measuring financial and operating performance.
- Leads the design and development of financial systems and financial policies.
- Attests that financial statements are accurate and complete in accordance with generally accepted accounting principles (GAAP).
- Directing accounting policies, procedures, and internal controls.
- Managing or overseeing the relationship with independent auditors.
- Reports to the CEO and board of directors on current and expected financial performance of the organization with the goal of creating or adjusting any relevant plans to make sure that the COV family can deliver high quality patient/resident/client care while remaining financially viable.
- Participates in the development of organizational long-range plans, serves on planning and delegated planning and policy-making committees and functions as the Executive Sponsor for projects and initiatives assigned by the CEO.
- Maintains robust networks with finance leaders in allied agencies, in particular Alberta Health Services and serves as primary government liaison relative to financial issues.
- Creates an optimal organizational structure in order to facilitate faster decision making, improve operating efficiency, eliminate duplication of work, improve communication and motivate employees toward the highest level of teamwork and individual performance.
- Oversees the recruitment and retention of highly skilled and motivated leaders who can effectively engage and guide their teams.
Qualifications, Knowledge and Experience:
- Certified Professional Accountant (CPA) or equivalent in good standing
- Master’s Degree in a related field (preferred)
- Must have a minimum of seven (7) years’ senior level experience of leading finance and accounting services in a complex environment, including recent and related experience in all aspects of financial administration, budget management and preparation, accounting systems, payroll, capital planning, and project management.
- Strong customer focus, committed to continuous quality improvement and a results-oriented leadership style.
- Demonstrated conflict resolution, negotiation skills and analytical skills.
- Proven ability to promote a strong team environment with shared goals and objectives.
- Ability to operate at a strategic level, and to make decisions that will achieve organizational objectives.
- Superior communication (written and verbal) and interpersonal skills.
- Ability to adapt to changing environments and situations.
- Sound knowledge of regulatory framework and Generally Accepted Accounting Practices (GAAP).
- Ability to establish, direct, and integrate business and finance operations across a multi-site health care organization.
- Ability to develop, implement and enforce effective fiscal/accounting policies and financial control systems.
- Ability to prioritize and manage the demands of distinctly separate functional areas.
- Ability to delegate decision making.
- Ability to promote teamwork, collaboration, and partnership.
- Willingness to keep abreast of developing issues and challenges that have an impact upon the health care and social services environments.
- Preference will be given to candidates with experience working in a large, unionized health care environment
About Pender & Howe:
Covenant Health has retained Pender & Howe to lead the recruitment initiative for the Chief Financial Officer position. Pender & Howe is a boutique retained executive search firm specializing in collaborating with human capital leaders, governing boards and CxOs in identifying exceptional leaders. More information about Pender & Howe is available at www.penderhowe.com.
The Chief Financial Officer search is led by Glenn Lesko. For consideration, please email a copy of your CV in confidence to:
Glenn Lesko (Principal) - firstname.lastname@example.org
We thank all applicants in advance. Only those candidates selected for an interview will be contacted.