Chief Financial Officer

at  Metro Toronto Convention Centre

DEPARTMENT:

Finance
About Metro Toronto Convention Centre
Widely recognized as top-of-class by meeting and event organizers around the world, the Metro Toronto Convention Centre (MTCC) has hosted over 22,000 events in our four-decade history. We are proud to support the local tourism industry as one of North America’s leading convention centres, having added more than eight billion dollars in direct spending economic impact to our community. MTCC is a Crown Corporation of the Province of Ontario and is proudly governed and led by an executive management team and an independent board of directors comprised of senior private sector business leaders.
The Metro Toronto Convention Centre prides itself on its professionalism and dedication to making every event it hosts memorable for its customers and guests alike.
For a behind the scenes look at how our team helps our customers create successful events, visit our Instagram page:
@lifeatmtcc
Job Description
Reporting to the President & Chief Executive Officer, the Chief Financial Officer (CFO) at the Metro Toronto Convention Centre (MTCC) is primarily responsible for steering the financial strategy and ensuring the organization’s fiscal health and alignment with broader provincial goals. By managing financial operations, this role aims to optimize financial performance, enhance strategic decision-making, and maintain compliance with regulatory standards. Success in this position is measured by the effective integration of financial reporting, risk management, and strategic planning processes that support the Centre’s mission and objectives. The CFO’s leadership is crucial in fostering partnerships, both internally with the Board of Directors and management teams, and externally with the Ministry of Tourism, Culture, and Sport, and industry stakeholders to secure the MTCC’s position as a leader in the hospitality industry. This entails a comprehensive approach to financial oversight, strategic initiatives, and stakeholder engagement, ensuring the Centre’s operations contribute to the economic and cultural vitality of the region.
The successful candidate’s job responsibilities include but are not limited to:
Establish an effective working relationship with the Board of Directors (Board) and provide financial information to the Board and associated committees, Ministry of Tourism, Culture, and Sport, (MTCS) and the MTCC’s executive management team.
Ensure the reliability and integrity of the financial statements to meet external and internal reporting standards, regulatory compliance, and adherence to the Memorandum of Understanding.
Notify the Finance & Audit Committee and Board of Directors of all actual or potential irregularities, non-compliance, or other problems related to the financial operations, financial systems, corporate processes, or any other matter which may have a financial impact on the corporation.
Oversee the coordination and activities of independent auditors ensuring all audit issues are resolved.
Work with the President and CEO and the executive management team on strategic planning and policy matters. Support the team to drive business improvement initiatives, other process improvements and innovations that add value to the corporation.
Continually monitor the organization’s financial obligations, including covenants and payment schedules, and ensure adherence to the Memorandum of Understanding
Work with the executive management team to identify potential business risks and formulate strategies to mitigate the corporation’s risk profile. Report risk issues to the Finance & Audit Committee of the Board of
Plan, coordinate and execute the annual operating and capital budget for the corporation.
Monitor banking activities of the corporation and ensure adequate cash flow to meet the corporation’s needs. Maintain banking relationships.
In conjunction with the V.P. HR oversee the management and performance of the corporate pension plan.
Ensure that the corporation is in compliance with the provincial directives.
Manage the corporate insurance portfolio.
Provide guidance and support to the corporation’s acquisition and procurement programs.
Provide information pertaining to the Freedom of Information Act.
Maximize return on short term funds by investing within the scope of the corporate investment policy.
At the executive management level lead the strategic and business planning process.
Maintain an effective control system to safeguard and manage the corporations’ assets.
Ensure the financial statements accurately represent the financial position of the corporation and its operations.
Review the accounting and financial reporting systems and address required improvements.
Organize the annual year-end audits and coordinate Finance & Audit Committee meetings and present Audited financial results to the Finance & Audit Committee, the Board of Directors and the Shareholder. Be the lead staff on the Finance & Audit Committee.
Develop and maintain pro-forma financial models for management of cash flow.
Continually monitor the organization’s financial obligations, including covenants and payment schedules, and ensure they are adhered to.
Review the accounting and financial reporting systems and address required improvements.
Conduct annual performance evaluations for direct reports and recommend compensation adjustments for the department.
Analyze and interpret financial information in terms of organizational performance.
Manage corporate risk effectively.
Support other departments in planning and execution of the goals and objectives of the Corporation.
Ensure all reports are submitted to MTCS as required.
Other duties as may be assigned by the President and CEO, Finance & Audit Committee or Board of Directors.
As the financial steward of an organization, the Chief Financial Officer (CFO) must possess a comprehensive understanding of both defined benefit (DB) and defined contribution (DC) plans, as these retirement plans have significant implications for the company’s financial health, employee satisfaction, and regulatory compliance. CFO must have a robust knowledge base concerning both defined benefit and defined contribution plans within the Canadian regulatory context. This enables them to effectively manage the associated financial risks, ensure regulatory compliance, and support the organization’s overall strategy for providing competitive retirement benefits.

Please refer the Job description for details