Position Title: Chief Financial Officer
Reporting to: Chief Executive Officer
Position Type: Full-time
Application Deadline: August 16, 2019
Artscape is a not-for-profit urban development organization that makes space for creativity and transforms communities. Our work involves clustering creative people together in real estate projects that serve the needs of the arts and cultural community and advance multiple public policy objectives, private development interests, community and neighbourhood aspirations and philanthropic missions.
Since its beginning in 1986, Artscape has become recognized as an international leader in creative placemaking, a practice that leverages the power of art, culture and creativity to catalyze change, growth and transformation in communities. Artscape achieves its mission through developing and managing unique cultural facilities—including community cultural hubs, multi-purpose creative spaces and artist live/work projects—and delivering programs and services that promote creativity and cultural space development. For more information please visit www.artscape.ca.
Chief Financial Officer
Over a 9 month period in 2019-2020, Artscape opened three new projects, increased its staff by 20%, and developed a comprehensive asset management plan to steward its 13 building communities. Recently, the organization identified the need to elevate the financial function to an executive level. This will be Artscape’s first CFO and reflects the importance of strong financial and IT strategy and systems to support the organization’s growth and stewardship. Other senior leadership changes include the appointment of a Controller and a Director of Information Systems, both internal promotions.
Reporting to the Chief Executive Officer, the Chief Financial Officer will be responsible for all facets of the financial and information technology systems, including finance and accounting, financial planning and asset analysis, budget development and forecasts, and risk and compliance. The CFO will serve as the lead in managing relationships with Artscape’s banking, financing and impact investor partners. This position will build and sustain the capacity of the department as a vital shared service platform for the organization.
- Oversees and directs the financial management of all Artscape companies and related entities, including the annual budget cycle, monthly and quarterly reviews and revisions, and reports regularly, through the Chief Executive Officer, to the Board of Directors and its Audit + Finance Sub-Committee.
- Through forecasting and analytics, advises senior leadership on strategic and operational financial challenges and opportunities related to business performance, funding changes, cash flow and risk.
- Leads, motivates and manages a department of 5-7 staff and oversees regular finance and IT vendor contracts to ensure value and quality.
- Forecasts and manages cash flow, including receivables and payables management.
- Working closely with CEO and capital projects team, oversees negotiations, reporting and achievement of terms of financing, including project mortgages, organizational line of credit, and community bonds.
- Oversees the financial reporting of Artscape’s various entities and ensures transactions are compliant with accounting standards and governing legislation including for charities and condominiums.
- Manages the financial records and reporting for all capital projects, including budget review, cash flow planning, construction financing and take-out mortgages.
- Works with Executive and senior leaders to lead annual and multi-year budgeting aligned with organizational priorities and financial opportunities and constraints.
- Works with the Toronto Artscape Foundation staff and the Board to prepare a comprehensive budget.
- Works with the Toronto Artscape Foundation to produce annual T3010 and ensures all activities and expenses for the Foundation are in compliance with the Canada Revenue Agency (CRA).
- Reviews and advises on capital budgets and financing for Artscape’s Portfolio Management Plan and building level reserve funds.
- Ensures that all remittances, including HST and other government requirements, are up-to-date.
- With the Controller, oversees the annual audit process for all Artscape companies.
- With the Controller and Human Resources teams, ensures consistent and smooth processing of payroll, employee hires and terminations, and benefits administration.
- Oversees the general administration of the organization, including IT systems and hardware, Customer Relationship Management software, insurance and equipment purchases
- With the Director of Information Systems, oversees and implements a strategy for agency-wide IT tools and systems that support business goals, employee productivity and customer service.
- Oversees all facets of insurance, risk mitigation, internal control policies, and business continuity planning.
- As part of the Executive Team, stewards progress towards the strategic plan and reviews and assesses key finances, Human Resources Policies, and management practices.
- Models and facilitates interdepartmental collaboration to advance progress towards strategic plan goals.
- Works with directors to identify and test cross-departmental processes, including preferred vendors and shared procurement that enhance tenant relations, property administration and facilities management.
- Participates in Executive-level planning, problem-solving and risk-mitigation.
- Contributes as a leader to fostering a strong, safe and inclusive workplace culture that supports all staff to live by shared values.
- 7+ years’ prior experience in senior financial leadership role, ideally in not-for profit or facilities related sectors.
- CPA accounting designation.
- Ability to communicate complex financial issues to senior staff in support of Artscape’s organizational resilience goals.
- Strategic thinking and exceptional problem-solving skills to balance short-term requirements with long-term organizational and portfolio goals.
- Unflappable but not inflexible in the face of unexpected challenges and entrepreneurial opportunities.
- Experience in the fields of charities and not-for-profits a must.
- Experience and knowledge of social purpose real estate, affordable housing, social finance and/or impact investment a plus.
- Professional presentation skills and experience working with boards of directors and finance sub-committees.
- Demonstrated experience of overseeing information systems for enhanced operational performance.
Please respond with:
- Specify where/how you found out about the opportunity
- Your salary expectations
- A resume
- A cover letter outlining the qualifications and experience you would bring to the position and how you found out about the employment opportunity
Please note: Submissions must include all requirements listed above, including your salary expectations. Incomplete applications will not be reviewed.
Applications will be received in confidence by mail or email and should be forwarded to:
Attention: Human Resources
130 Queens Quay East, Suite #423
Toronto, ON M5A 0P6
firstname.lastname@example.org (please note your name and the job title in the email subject line)
No phone calls please. We thank all applicants, however only those being considered for an interview will be contacted directly.
Artscape is an equal opportunity employer and is committed to diversity and inclusiveness in all its work. We work proactively to be fair and equitable in practice and to build diversity into our teams, creative communities, programs and services.
In accordance with the Ontario Human Rights Code, Accessibility for Ontarians with Disabilities Act, 2005, accommodation will be provided at any point throughout the hiring process, provided the candidate makes their accommodation needs known to Artscape.