Chief Financial Officer – CCMBC Legacy Fund

This executive search is conducted by Nelson/Kraft & Associates on behalf of CCMBC Legacy Fund.

 

EXECUTIVE SUMMARY

Are you a Chief Financial Officer (CFO) who has experienced significant success in the marketplace and is now looking to use those skills and expertise for Kingdom significance? CCMBC Legacy Fund is seeking a CFO to enhance and provide financial oversight that positively impacts the ministry of the Canadian Conference of Mennonite Brethren Churches.

Reporting to the Chief Executive Officer, the Chief Financial Officer will be responsible for providing financial management and operational, consultative support for the following legal entities: CCMBC Legacy Fund Inc. (Legacy), CCMBC Investments Ltd., and the Canadian Conference of Mennonite Brethren Churches (CCMBC). As a member of the senior management team, the CFO will be involved in strategic planning, evaluation, and future development initiatives. In a collaborative leadership style, you will continue to build and manage effective and streamlined financial systems, including accounting, legal, and information technology. The CFO will define the process and implement the infrastructure/systems needed to support substantial growth over the next five to ten years.

From the head office in Winnipeg, Manitoba, you will be responsible for the oversight of a multimillion-dollar portfolio of assets that will have a positive impact for the Lord’s work across Canada. We would be pleased to enter a confidential discussion on how the Lord might use you in this new, challenging, and significant way.

 

OUR STORY

Forty years ago, the Canadian Conference of Mennonite Brethren Churches (CCMBC) began providing mortgages to its churches, pastors and other ministry capital projects through its Stewardship Ministries division. In 2019, a substantial reorganization was completed, with mortgage, investment, and administrative services provided by Legacy and its subsidiaries.

Legacy is a Canadian Registered Charity whose sole member is CCMBC, and we serve as a resource to our 230 churches, provincial conferences, and ministry partners. Legacy provides payroll and accounting services for many of our churches and conferences, which they value for saving them significant time and expense. We administer the group insurance program that ensures all conference employees and retirees have access to comprehensive and affordable health, dental, and insurance coverage. We administer CCMBC’s Pension Plan that helps participants prepare for retirement.

Investment and lending activities are provided through Legacy’s subsidiary CCMBC Investments Ltd. By investing in promissory notes, our investors provide the capital necessary for us to extend secured mortgages to our churches, pastors, schools, and camps, enabling them to have a presence in the communities they serve.

Income generated by Legacy is directed to CCMBC ministries that help grow God’s Kingdom through church planting, pastor leadership training and other church-led ministry efforts.

 

OUR VISION

One very important step in our faith walk is to grow God’s Kingdom. As disciples of Jesus, we are called to be good stewards of the resources God has provided for us. As part of the original charter of the Canadian Conference of Mennonite Brethren Churches, the conference envisioned the pooling of resources to create a fund for supporting mortgages for churches, pastors and other capital projects for ministry. There are times when churches and pastors do not qualify for a mortgage with a bank, especially newer church plants. It is for these situations that the MB Stewardship Ministries program was created and continues through Legacy. Over the past 40 years, the Lord has blessed our people with the resources and heart to fund Kingdom growth. Today, many of our pastors own homes and many churches have buildings thanks to the generosity of our constituents.

With the success and growth of the fund, and with increased regulations governing the financial world, a decision was approved by our churches in 2015 to create an independent organization to manage MB Stewardship Ministries. This step was necessary to ensure sustainability of a stable funding platform that will continue to fund ministry while providing our investors with a competitive rate of return. Governance of CCMBC Legacy Fund and CCMBC Investments is overseen by a board of directors comprised of a majority of CCMBC executive board members.

As we discern the expansion of our operations, we continue to pray, and ask God to provide the clear vision and wisdom required to make appropriate decisions now and in the years to come.

 

KEY RESPONSIBILITIES

Strategy

• As a business partner to the CEO, assess organizational performance against both the annual budget and the organization’s long-term strategy.

• Serve as a business partner to the CEO on the financial, budgeting, and administrative processes with an eye to continuously developing and improving systems.

• Advise the Legacy and Member boards on financial issues, trends & changes in the operating models and operational delivery.

• Assist in establishing yearly objectives and attaining organizational goals.

• Collaboratively select/engage outside consultants (auditors, investment advisors, etc.).

• Lead information technology planning for the future and implement it successfully to meet future IT needs (hardware and software) as the organization grows.

Financial Planning & Analysis

• Prepare and maintain regular financial planning reports; profit and loss forecast by organization (vs. budget); quarterly cash flow forecast.

• Review and approve preparation and finalization of quarterly and annual financial reporting materials for CRA, regulatory bodies, and the Legacy and Member boards.

• Develop and execute analysis of various business initiatives (i.e. asset acquisition/divestiture, new service launches, diversification).

• Develop and maintain capital budgets for the organization and the National Conference.

• Participate in calls with banks, investment advisors, and stakeholders.

Finance

• Oversee cash and asset management, and financial assets in conjunction with the CEO.

• Oversee financial strategies and activities, as well as banking relationships.

• Develop and utilize forward-looking, predictive models and activity-based financial analysis to provide insight into the organization’s operations and business plans.

• Oversee budgeting, financial forecasting, and cash flow for administration, existing programs, and proposed new programs.

• With the CEO, oversee the organization’s loans and investor notes program.

• Hire and retain support staff as needed in the future.

Policy & Stakeholder Relations

• Participate in the development of corporate policies and protocols.

• Represent the organization at Member board meetings and conferences.

• Inform, educate and execute the investment policy upon approval from the Board.

• Represent the organization to financial partners, including financial institutions, stakeholders, auditors, CRA, public officials, etc.

• Remain up to date on public company filing requirements, IFRS 9, non-profit audit best practices and municipal/provincial/federal law regarding non-profit and charity operations.

Accounting

• Oversee accounting team to ensure proper maintenance of all accounting systems and functions.

• Ensure maintenance of appropriate internal controls and financial procedures.

• Oversee preparation of month-end, quarterly and year-end financial statements.

• Ensure timeliness, accuracy, and usefulness of financial and management reporting to the MB constituency, Legacy and Member boards, and federal/provincial/regional district/municipal funders, foundations, and Societies’ boards.

• Oversee coordination of all audit activities and proper filing of tax returns.

• Ensure legal and regulatory compliance regarding all financial functions.

• Review all month-end closing activities including the general ledger.

• Enhance and implement financial and accounting systems, processes, tools and control systems.

• Serve as a key point of contact for external auditors; manage preparation and support of all external audits.

Corporate Development

• Represent the organization in efforts with bankers and investment advisors.

• Prepare various analysis and reports required for future development projects.

Insurance, Real Estate & Legal Affairs

• Collaboratively manage the organization’s insurance program.

• Collaboratively manage the organization’s real estate affairs, consisting of leases and subleases, and negotiate new leases or lease renewals.

• Collaboratively manage the organization’s legal affairs in the areas of claims and other financial matters.

 

REQUIRED ATTRIBUTES

• Teamwork – working effectively and efficiently together with others to achieve common goals and objectives.

• Relational – ability to build a strong relational team and to relate well with people at all levels within and outside the organization.

• Integrity – capability to be completely honest and forthright in all dealings within and outside the organization.

• Communicator – ability to communicate well in both written and verbal format.

 

QUALIFICATIONS

• Chartered Professional Accountant preferred or Bachelor’s degree in Business Administration or MBA.

• Minimum 8-10 years experience in a relevant industry.

• Senior organizational experience in a public securities corporation is preferred.

• Financial experience in oversight of investment advisors, including pension and benefit plans, and investment deposit funds.

• Ability to lead others to comprehend complex issues from a higher level and bring value to senior management.

• Strong analytical and observation skills.
• Excellent people skills, with experience collaborating in a multi-disciplinary, diverse, and dynamic team.

• Demonstrated experience in financial management and accounting, ideally in the non-profit sector.

• Experience should include legal, audit, compliance, budget, resource development, and public company regulatory/filing obligations.

• Demonstrated resourcefulness in setting priorities, proposing new ways of creating efficiencies, and guiding investment in people and systems.

• Flexible and a self-starter; able to multitask while also being highly detail-oriented.

• Membership in good standing with an MB Church is preferred.

• Personal qualities of integrity, credibility, and agreement with CCMBC’s Confession of Faith.

• A criminal record check will be required for the successful candidate.

 

Location: Winnipeg, MB

Application Deadline: June 1, 2022

Start Date: September 2022

 

 

ABOUT US

Nelson/Kraft & Associates Inc. is an executive consulting firm that specializes in working with not-for-profits and for-profit businesses across Canada, assisting them in the placement of senior executives and directors. 

Nelson/Kraft & Associates Inc. welcomes and encourages all interested applicants to apply for this position. Nelson/Kraft & Associates Inc. is committed to the principles of diversity and inclusion in its hiring practices, and will only make distinctions among interested applicants in accordance with the applicable Human Rights legislation.

Nelson/Kraft & Associates Inc. also welcomes and encourages applications from candidates with disabilities. Accommodations are available on request for candidates taking part in the selection process. If you require disability-related accommodation during the recruitment process, please contact us.