Massey Henry Seeking CFO/CRO for SaskCentral

November 28, 2023 – Toronto-based executive search firm Massey Henry was recently retained by SaskCentral to lead in its search for a chief risk officer and chief financial officer. Reporting to the CEO, this executive ensures the financial and operational viability of SaskCentral, leading and supporting the strategic vision and development of high-level corporate business objectives at the board and executive level. This position leads the strategic finance function at SaskCentral, playing an essential role in strategy development, performance measurement, and management of relevant external relationships, such as rating agencies and auditors, etc.

The search firm notes that this role collaborates with peers in the executive leadership team to advance the organization, particularly from a financial performance perspective. The position also includes accountability for accurate and timely financial reporting in compliance with IFRS, board policies, regulatory requirements, and governance standards. In addition, as chief risk officer, this position oversees an effective and dynamic enterprise risk management framework and process, reporting to the board in the area of risk management.

Bringing over 15+ years of relevant executive experience within a financial services environment, this individual will be a visionary finance and risk leader with strong financial reporting skills, with particular expertise in enhancing data-driven process improvement in a digitally focused and agile environment. Massey Henry explains that the successful candidate is a strong relationship builder, influencer, and stakeholder manager, able to influence and partner closely with other members of the executive leadership team, investees, and external stakeholders while overseeing SaskCentral’s finance and enterprise risk appetite through a strategic lens.

The job specification details that the following skills, knowledge, and experience are required:

• 15+ years of financial management experience, including experience as a CFO ideally within a financial services business.

• Comprehensive understanding of the financial environment of credit unions

• A proven change leader with a demonstrated track record of managing and leading through change; experience leading through digital transformation and process improvement is of particular importance.

• Advanced knowledge of electronic banking/commerce, financial forecasting, generally accepted accounting practices, business analytics and information management, and treasury management practices.

Related: Executive Search Review Special Issue: Financial Services Recruiting

• Experience in M&A transactions desirable but not essential.

• Knowledge and experience in the identification and the management of enterprise risk management.

• In-depth knowledge of regulatory requirements in the financial services industry; ability to turn experience and knowledge of the industry and financial environment into executable strategic and financial options for SaskCentral.

The Evolving Role of the CFO
Given the speed at which market conditions, business strategies, and operational structures have changed in recent years, businesses are more aware than ever of the crucial role the chief financial officer plays in shaping and driving a company’s strategic direction. A just-released report by BoardEx of “The Role of the CFO 2022” examines more than 1,400 CFOs who lead major publicly traded companies across 16 countries around the world. Let’s take a closer look.

SaskCentral is owned by, and is the liquidity manager for, Saskatchewan’s credit unions. By aggregating statutory liquidity deposits, it facilitates clearing and settlement, provides credit facilities that support daily cash flow management, coordinates emergency liquidity support, and provides investment management services. SaskCentral also maintains business relationships with, and investments in, several entities on behalf of Saskatchewan credit unions.

Proven Search Firm

Launched in 2021, Massey Henry is an executive search and board advisory firm specializing in financial services and the public sector. Michael Henry is the founder and managing partner of the firm. He said the firm’s aim was to set a new standard for executive recruiting with a streamlined, collaborative approach that enables organizations to recruit diverse top talent for urgent, transformational roles.

Using artificial intelligence technology combined with sector expertise, Massey Henry provides candidate research and a diverse candidate pool, while using custom criteria to assess each candidate for fit. Clients have 24/7 access to their search process which is designed to enhance decision-making and reduce timelines by half. The firm is backed by an experienced advisory board of top leaders, including George Cooke, board chair of OMERS; Bill Hatanaka, board chair of Ontario Health; Johanne Brossard, board director and former president and CEO of ING Direct Canada; Eric Wetlaufer, board director of Investment Management Corporation of Ontario and the TMX Group; Lynne Kilpatrick, board director and senior retail banking executive; and Sharon Pel, chair of the board of trustees for OPTrust.

Related: As CFOs Gain in Stature, Succession Plans to Replace Them Falter

Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Executive Editor; Lily Fauver, Senior Editor – Hunt Scanlon Media

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