VP, Finance - Life Operations

Company: Co-operators Life Insurance Company

Department: Finance

Employment Type: Regular Full-Time

Work Model: Hybrid

Language: English is required.

Additional Information: This/these role(s) is/are currently vacant.

The Opportunity

We are a leading Canadian financial services co-operative committed to being a catalyst for a sustainable and resilient society and our team is essential to deliver on this strategy. That’s why we prioritize our people, to ensure we provide a strong culture and development opportunities which enables our team to thrive and to live our purpose. The best part is that you will work with people that care passionately about you, our clients, and our communities.

The Vice President, Finance – Life Operations is responsible for the strategic direction and operational success of the Finance Decision Support area of Co-operators Life Insurance Company and CUMIS. The role acts as a valued business partner and a key financial and strategic advisor to the management team. It provides proactive leadership in creating and fostering financial discipline in decision making, entity level capital management, financial and actuarial non-statutory and management reporting, insightful analysis and interpretation of actuarial and financial results, building financial budgets and long term plans focused on strategic objectives, and supporting business cases. The role has a dotted line accountability to the EVP & CFO and works closely with other Finance VPs to continually improve Finance Decision Support services, processes and systems.

How You Will Create Impact

• Oversee the effective analysis and timely delivery of key financial information to the management team, their business units, the Board of Directors, and the Audit Committee, including results, variance analysis, insightful commentary and key performance measures
• Establish and maintain policies, guidelines and procedures that result in the accurate and timely assembly and analysis of complex financial data from many sources to support strategic decision making
• Oversee the preparation and timely development of entity level budgets, forecasts, and long term plans, working with the management team and the CFO to establish financial objectives, co-ordinate the planning, budgeting and forecasting processes, validate or challenge outcomes, and periodically assemble and communicate results as required
• Oversee the Corporate valuations functions and reserve adequacy of the organization. Including completion of FCT, reserves, and corporate valuation requirements
• Periodically assess entity capital adequacy, develop guidelines and methods to establish minimum capital targets and excess capital and frame options for deployment of excess capital by partnering with the CFO or his or her designate on strategic acquisition analysis.
• Develop methods to allocate expenses, capital and investment income to products, lines of business or other organizational divisions to assess profitability in line with corporate targets
• Lead a team of Finance professionals who actively contribute as partners with management teams and business units in providing financial advice, analysis, business case development, assistance with business initiative implementation, monitoring of financial objectives and strategic and tactical direction.
  
  
  

How You Will Succeed

• You cultivate a client centric culture, drive organizational change and champion innovative thinking.
• You foster sustainable relationships with stakeholders to identify strategies, explore broader solutions and collaboratively resolve contentious issues.
• You build trust with employees and business partners and inspire your team through compelling communication.
• You role model the co-operative values, encourage the development of your leaders and build high performing teams to meet the evolving needs of the organization.
• You are integral in identifying and implementing the long-term vision for the organization and apply a strategic mindset to adjust business priorities based on emerging trends.
  
  
  

To Join Our Team

• A professional accounting designation or appropriate professional qualifications (CA, CMA, CGA, CFA, MBA) is required
• Seven (7) years of progressively responsible leadership experience in the field of accounting, finance or strategic financial analysis.
• Five (5) years of leadership experience in the life insurance industry or financial services sectors, leading to an in-depth understanding of the life insurance business including key activities and drivers of performance
• Demonstrated ability to build sustainable relationships with both executive level and with business unit operations
• Accomplished strategic thinker with the ability to clearly articulate complex ideas and present these ideas to senior management and other stakeholder groups
• Bilingualism (French/English) would be considered an asset
  
  
  

What You Need To Know

• As a leader, strict confidentiality is required with respect to sensitive matters and employees’ personal information.
• Detail oriented work that requires a moderate degree of mental concentration for extended periods of time. 
• Extended work hours, including evenings and weekends, may be required.
• You will be subject to a background check as a condition of employment, in the event you are the successful candidate.
  
  
  

What’s in it for you?

• Training and development opportunities to grow your career.
• Flexible work options and paid time off to support your personal and family needs.
• A holistic approach to your well-being, with physical and mental health programs and a supportive workplace culture.
• Paid volunteer days to give back to your community.
• In addition to our competitive salary and incentive programs, eligible employees also benefit from a comprehensive total rewards package including group retirement savings plans, pension and benefits (e.g., health and wellness, dental, disability and life coverage), mental health support and an employee assistance program.