Managing Director, Finance & Operations

The Organization

Established in 1974 as the Credit Union Stabilization Corporation, the Credit Union Deposit Guarantee Corporation (CUDGC) has helped protect the financial security of Alberta credit union members for more than 50 years. Originally created to insure 100% of deposits, CUDGC has continued to evolve alongside the sector, expanding into credit adjudication, prudential regulation, stress testing and modern regulatory oversight. Today, it operates as a trusted public agency under the authority of the Alberta Credit Union Act.

As a deposit guarantor, CUDGC guarantees 100% of eligible deposits held with Alberta credit unions. The Deposit Guarantee Fund forms part of a three-level protection system supported by credit union capital and, ultimately, the Government of Alberta. The Fund is financed by Alberta credit unions and invested in high-quality, liquid investments.

CUDGC also regulates Alberta’s credit unions and Alberta Central through a risk-based approach designed to support system safety and soundness and protect depositors. Its oversight framework draws on national and international best practices and includes standards, guidelines and ongoing assessment of capital, liquidity, solvency, governance, enterprise risk management, internal controls and compliance with the Alberta Credit Union Act.

For more information about CUDGC, please visit their website.

The Opportunity

• Department: Finance & Operations
• Reports to: Executive/C-Suite
• Direct Reports: Five Direct Reports
• Location: Edmonton, AB

Mandate

Reporting to an Executive, the Managing Director, Finance & Operations provides leadership across CUDGC’s financial, fund management, reporting, data and operational functions. The role is responsible for strong fiscal stewardship, regulatory compliance and internal controls while ensuring CUDGC has the financial information, systems and preparedness required to deliver on its public-interest mandate.

The Managing Director has an important role in the stewardship of the Deposit Guarantee Fund, including financial planning, liquidity, investment oversight, financial risk and preparedness for potential instability within the credit union system. They will provide informed advice to the Executive and Board while maintaining productive relationships with investment managers, auditors and other external partners.

This is both a strategic and highly hands-on leadership role. CUDGC requires a financial leader who understands how accounting systems work, how data moves through the organization and how controls operate in practice. The successful candidate must be prepared to move comfortably from Board-level reporting and investment discussions into systems implementation, detailed financial issues or operational problem-solving when circumstances require it.

Key Accountabilities

Financial Leadership, Reporting and Governance

• Provide strategic financial advice to the Executive, Board and leadership team.
• Lead financial planning, budgeting, forecasting and financial analysis.
• Ensure timely and accurate financial statements and disclosures in accordance with IFRS, auditing standards and legislative requirements.
• Maintain strong internal controls over financial reporting and effective financial governance.
• Lead external audit processes and ensure timely completion of audit requirements.
• Oversee tax compliance and other financial and legislative filing requirements.
• Ensure financial reporting is clear, accurate and useful for Executive and Board decision-making.

Fund, Treasury and Investment Management

• Oversee the adequacy, liquidity and long-term sustainability of the Deposit Guarantee Fund.
• Lead financial modelling, scenario analysis and stress testing to assess Fund adequacy and financial risk.
• Provide advice regarding capital, liquidity, financial sustainability and funding strategies.
• Oversee investment policies, guidelines and risk parameters.
• Monitor portfolio performance and ensure investments remain aligned with risk tolerance and objectives.
• Build effective relationships with external investment managers and advisors, including AIMCo.
• Bring sufficient investment knowledge to provide informed direction and constructive challenge to external partners.

Systems, Data and Internal Controls

• Oversee financial systems, data governance and system configuration.
• Ensure the integrity, completeness and reliability of financial and regulatory data.
• Maintain a strong understanding of underlying accounting systems and controls, including Microsoft Dynamics 365.
• Identify and implement opportunities to improve processes, automation, efficiency and controls.
• Ensure data and financial information are structured to support effective regulatory and enterprise decision-making.
• Lead complex systems and process improvements using disciplined project management.
• Remain willing to engage directly in technical or operational issues when required.

Regulatory Reporting and Crisis Preparedness

• Ensure regulatory, government and Board reporting is accurate, complete and delivered on time.
• Support the financial and data requirements of CUDGC’s regulatory teams.
• Lead financial preparedness for potential credit union distress or failure.
• Ensure resolution planning, crisis response and deposit reimbursement frameworks are current and operationally ready.
• Lead scenario planning, testing and simulations to assess preparedness.
• Contribute as a trusted leader within CUDGC’s deposit and crisis management activities.
• Ensure financial systems and processes can respond quickly and reliably during periods of stress.

Leadership and Operations

• Lead and develop a multi-disciplinary Finance & Operations team.
• Establish clear expectations, accountability and disciplined execution.
• Build strong working relationships across CUDGC and actively reduce functional siloes.
• Oversee external service providers and maintain strong vendor and partner relationships.
• Balance strategic leadership with direct involvement in operational work when required.
• Establish clear project plans, priorities and accountabilities so work progresses without unnecessary Executive intervention.
• Foster an environment characterized by accuracy, urgency, ownership, curiosity and continuous improvement.

First-Year Deliverables / Measures of Success

Success in the first year will be determined by the candidate’s ability to:

• Build a high-performing, trusted Finance & Operations function characterized by strong ownership, clear priorities, disciplined execution and significantly less need for day-to-day intervention from the Executive.
• Elevate the quality and usefulness of financial and regulatory reporting, creating timely, accurate and decision-useful information for Executive Leadership, the Board, government and regulated entities.
• Strengthen the financial operating discipline of the organization, including a reliable month-end close, strong controls, clear accountabilities and consistently high standards of accuracy.
• Advance CUDGC’s financial and operational resilience, ensuring crisis preparedness, supporting systems and response plans are tested and ready should instability emerge within the credit union system.
• Become a trusted leader in CUDGC’s deposit protection and crisis management work, bringing sound financial judgement, a sense of urgency and the ability to mobilize others when circumstances require it.
• Strengthen the systems, data and processes that underpin finance and fund management, identifying opportunities to improve efficiency, transparency, controls and the flow of information across the organization.
• Build strong, collaborative relationships across CUDGC and with key external partners, including AIMCo, auditors and other service providers, while helping break down functional silos.
• Create capacity for the future, developing the team, strengthening project management and establishing the structures that allow the function to take on broader and more complex work over time.

Candidate Profile

The successful candidate will have the following:

Education and Training:

• Bachelor’s degree in accounting, finance, business, risk management or a related discipline. A Chartered Professional Accountant (CPA) designation is required.
• Additional credentials such as CFA, FRM, CIA or other relevant finance, investment or risk qualifications are considered assets.

Experience:

• Significant progressive financial leadership experience, ideally including at least 10 years in increasingly senior roles.
• Strong technical accounting expertise, including IFRS, financial reporting and internal controls over financial reporting.
• Experience leading financial planning, budgeting, forecasting and financial analysis.
• Strong understanding of accounting systems and how financial information moves through an organization.
• Experience with treasury, liquidity, investments and financial risk management.
• Experience working with investment managers, advisors or other sophisticated third-party financial providers is an asset.
• Demonstrated experience managing external audit processes and tax compliance.
• Experience leading systems implementations, process improvements or other significant operational projects.
• Experience in a regulated financial services environment is strongly preferred.
• Experience with crisis preparedness, resolution planning, deposit insurance or distressed financial institutions is considered an asset.
• Demonstrated success leading and developing professionals within a small, agile and highly accountable environment.

Competencies and Attributes:

• Financial and Technical Acumen: A strong, practical CPA who understands accounting, IFRS, financial systems, controls and the underlying mechanics of financial information.
• Strategic and Hands-On Leadership: Comfortable advising the Vice President and Board while remaining willing to get directly into the work.
• Critical Thinking and Constructive Challenge: Tests assumptions, identifies inconsistencies and asks difficult questions when something does not make sense.
• Execution and Sense of Urgency: Establishes clear plans, drives work to completion and recognizes that accuracy and deadlines are essential.
• Financial Risk and Investment Judgement: Understands liquidity, investments and financial risk and can engage credibly with sophisticated external financial partners.
• Systems and Data Orientation: Recognizes that strong financial stewardship depends on reliable systems, effective controls and quality data.
• Project Management: Brings structure and accountability to complex initiatives and ensures progress is visible.
• Communication: Produces clear, concise and accurate information for executives, Boards and technical audiences.
• Collaboration and Relationship Management: Builds trust across functions and external partnerships and actively works to break down silos.
• Agility and Ownership: Brings a small-organization mindset, takes responsibility for outcomes and is willing to do what is required to get the work done.
• Integrity and Public Trust: Demonstrates sound judgement, accountability and an understanding of the responsibility associated with managing resources that protect Alberta depositors.

Commitment to Inclusion and Belonging

The Credit Union Deposit Guarantee Corporation is committed to equity, diversity and inclusion and recognizes that a diverse team benefits and is essential to service excellence. In accordance with provincial legislation, accommodation will be provided by Mullen and CUDGC throughout the recruitment, selection and/or assessment process, upon request, to applicants with disabilities. All qualified candidates are encouraged to apply.

Application Instructions

If this opportunity excites you, please send an application package, including your resume and cover letter, to [email protected]. In the subject line of your email, please include the organization’s name and the position title.