Chief Financial Officer – Group Medical Services (GMS)
Headquartered in Regina, Saskatchewan GMS Insurance employs approximately 120 employees, has health and travel insurance as well as group benefit plans which generates just under $85 million in revenue per year. GMS has been taking care of Canadian families since 1949 – before publicly funded Medicare was available in the province. When access to basic healthcare became available to everyone through Medicare, GMS stepped in to bridge the gap between publicly funded healthcare and the needs of its customers. GMS introduced health insurance coverage for health care related costs not paid for by government, such as prescription drugs, ambulance services and private duty nursing. These core benefits are still the building blocks of their plans offered today. GMS’s goal is to offer Canadian’s choices and real value in health and travel insurance. They focus on wellness first. Healthy and happy people create thriving communities, which is why our client, GMS, aims to put wellness first. All of their individual and group health benefits plans provide individuals with the access to care that ensures they are living their lives to the fullest and have coverage for care when they need it.
Empower Canadians to make positive healthy decisions through our wellness network, responsive products and personalized experiences.
Communities and individuals connected by a desire to continuously improve health and wellness.
Caring: We care about our customers. We take the time to listen and understand what matters most
Innovative: We’re innovative in smart ways. GMS employs a customer- responsive team that balances personal touch and advanced industry technology
Easy: We’re easy to deal with. Simple. Upfront with our customers
Positive: We’re positive. We look at problems as opportunities. Because we’re positive, we believe in and help our customers achieve their dreams of living well
Real: We’re real. Down to earth, approachable and friendly
Fair: We’re fair with our approach in everything we do
In 2020, GMS was once again part of a select group, Top Saskatchewan Employers, as awarded by Mediacorp Canada Inc. This award recognizes industry leaders across Canada who invest in their employees through competitive compensation and benefits, plus a work culture that helps retain and attract top staff. Being a top employer is not something GMS takes for granted. Their employees are their most valuable resource.
GMS regularly check in with their employees through surveys to make sure they’re providing a workplace that supports their success. In turn, GMS has a group of talented people:
- Committed to helping Canadians live well with great products and exceptional customer service.
- Proud of giving back to our community, supporting health care and promoting healthy living through staff through volunteer time that compliments their corporate donations.
To learn more about GMS please visit their website: www.gms.ca
|Job Title:||Chief Financial Officer (“CFO”)|
|Reports to:||President & Chief Executive Officer (“CEO”)|
|Direct + Indirect Reports:||14|
Reporting to the President & CEO, the CFO is a key member of the senior leadership team (“SLT”) and plays a key role in developing and implementing the organization’s business and financial strategy. The CFO role provides the fiscal discipline and financial frameworks integral to the organization’s success, as well as strategic direction and counsel on complex business issues to ensure continued success and growth. The CFO must be a passionate advocate of the mission, vision and goals of the organization and will work closely with others on the continued transformation growth of the organization ensuring long term business and fiscal stability. As a business partner to the organization, the CFO will be accountable and provide leadership and oversight of: finance and accounting; compliance; enterprise risk; privacy; as well as pricing, business intelligence and data analytics.
The position will include the following responsibilities:
- As a member of the SLT, contributes to the achievement of GMS’s vision/mission and goals through active participation and collaboration in strategic and operational planning and deployment; and, through the alignment and enablement of his/her directly reporting departments
- Ensure the organization is anticipating and mitigating enterprise risk in a systematic manner
- Build strong relationships, working with the Senior Leadership and Board of Directors
- Provide financial and business analysis to support strategic decision-making
- Demonstrate, and coach in others, the behaviors, values, and processes that best support GMS’s desired culture.
- Develops and implements strategic and operating business plans and budgets for functional areas of responsibility that are aligned with and support corporate plans.
- Provides recommendations to strategically enhance business opportunities with respect to financial health and sustainability
- Overseeing all aspects of accounting and finance including:
- Financial reporting
- Cash flow and financial planning
- Internal controls over financial reporting
- Implement of the new IFRS 17 accounting standards for January 1, 2022
- Oversight of policy holder and claim liability and reserve estimates and third-party annual actuarial reviews
- Responsible for investment portfolio management, the develop and review of investment policies and the relationship and oversight of a third-party investment manager
Governance, Risk & Compliance Leadership
- Responsible for enterprise risk management including:
- the ERM framework and required enhancements
- enabling the efficient and effective governance of significant risks and related opportunities
- leadership and integration of the ERM principles and practices into the organization management system
- Oversee and manage regulatory compliance issues within the organization and associated Board management and Board reporting
- Oversee risks related to information privacy laws and compliance and associated Board management and Board reporting
Business Intelligence, Data Analytics & Pricing Leadership
- Responsible for evolving the pricing approach considering risk, cost, economics as well as competitive dynamics and increasingly the “voice of the customer”, understanding value as they perceive it
- Provide leadership and direction through team engagement, empowerment and development. Provide clear and consistent direction, nurturing a high performance, accountable culture
Opportunities / Attractions
- A non-profit insurance enterprise strongly connected with and supportive of its broader community
- Executive leadership impact on GMS’s mission, vision and values in collaboration with highly knowledgeable, expert colleagues and a supportive governing board
- Join a non-profit insurance enterprise with a start-up style culture and a value-driven purpose centered around community investment
- Prairie based executive leadership role within the financial services sector
- Forward thinking digital technology strategy focused on innovation and agility
- A small organization where strategic and leadership impacts are noticeable almost immediately
FIRST YEAR DELIVERABLES / MEASURES OF SUCCESS
Success in the first year will be determined by the candidate’s ability to:
- Successfully adopt and implement IFRS 17 ensuring industry compliance is met
- Instill trusting and confident relationships with the SLT, board and direct/indirect reports
- Contribute to the organization’s strategic and transformational growth path while ensuring long-term financial and community benefits
The successful candidate will have the following:
- A bachelor’s degree in business, finance, or accounting as well as the CPA professional accounting designation is required
- Ideally an experienced CFO with several years of broad financial experience, including gathering and evaluating financial information, and making actionable recommendations to senior leaders.
- The ability to transform a strategic vision into an operational model, and the ability to forecast and think strategically and proactively about all financial aspects of the organization.
- Minimum 10 years’ experience in progressively responsible financial leadership roles.
- Demonstrates leadership courage; appropriately challenges the status quo, and positively influences others to perform at higher levels.
- Prior experience in a customer centric industry and where technology has been leveraged and changed the business operating model
Competencies and Attributes
- Customer-centric approach, aligning the finance department with overall business values
- A humble approach with the ability to work collaboratively and listen to cross-functional teams
- An innovative thinker with a clever approach to finding alternative solutions
- Sound judgement and decision-making ability; gathers enough information to allow a trustworthy assessment of risks and benefits in any decision
- The ability to remain focused on objectives and considers both short- and long-term impact of decisions
How to Apply:
Please send your resume in Word or PDF format to: firstname.lastname@example.org
. Copy and Paste the following job title and code and place it in the subject line of your email so we can identify the job and confirm receipt of your application:ATSS-826034 Chief Financial Officer – Group Medical Services (GMS) - SK - Regina (OTIAPPLY) Please note that only those candidates meeting the selection criteria, established by our client, will be contacted further.
Although we may not contact you directly for this particular role, all applications will be reviewed as we would like to consider you for future opportunities that may be appropriate. We encourage you to continue to visit our website at optimumtalent.com
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