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Opportunity

CFO & Senior Vice President, Finance & Administration – LCBO

THE MANDATE

The LCBO is a provincial crown corporation, accountable to the Ontario Provincial Minister of Finance. As one of the largest single purchasers of alcoholic beverages in the world, it generates significant revenue for the province and has a combined mandate of social responsibility and ethical profit generation.

With revenue of close to $6 Billion in 2016/17, 9,100 employees and 661 locations across the province, the LCBO provides services to the citizens of Ontario and is a significant employer in the province of Ontario.

At the retail level, the changing expectations of consumers have driven the LCBO to successfully expand beyond traditional bricks and mortar and engage consumers through new and improved digital offerings, specialty print magazines such as “Vintages” and the general interest lifestyle magazine “Food and Drink”. Staff have become product knowledge experts trained to assist experienced and novice consumers on selections of products appropriate to their budgets and occasions.

Selected products are also now available for purchase at other retail outlets, changing the traditional reliance of Ontario customers on the LCBO stores.  The plan is to increase distribution of LCBO products over the next twelve (12) months to approximately 450 grocery stores in Ontario.  This will have a major impact on internal LCBO systems and processes as well as affecting longer-term distribution strategies.

Another component to the LCBO mandate is its commercial sales and distribution channel. The LCBO distribution services are a key part of the alcohol sales system in the province. Any facility with a license to serve alcohol in the province works with the LCBO to purchase alcohol and wine either through the LCBO directly or as a licensee.

This is an exciting opportunity to join a dynamic executive leadership team as the LCBO transforms itself to operate effectively in a more competitive marketplace. This is the beginning of the new 3-year strategic plan, which will drive the organization toward greater customer centric thinking in all facets of the business, even more robust on-line initiatives and developing more insights driven decision-making. The LCBO will also adopt increased emphasis on creativity by added “Excellence in Innovation” to its’ objectives of Customer Experience, Operational Efficiency and Employee Experience.   The CFO, VP Finance and Administration will be an integral part of the executive team and in bringing financial acumen and experience to the organization will be a key contributor to the realization of the plans for the LCBO as a major player in the Ontario retail and wholesale landscape.

BACKGROUND

The LCBO is experiencing organization growth and change and is seeking to recruit a highly qualified senior executive for the position of Chief Financial Officer and Senior Vice President, Finance and Administration.  The LCBO offers a unique employee value proposition that combines a public-sector environment with the exciting challenges and innovative initiatives of the private sector.

KEY ACCOUNTABILITIES

The position will include the following responsibilities:

  • To provide strategic, value-based advice to the Executive Committee, the Board of Directors, the Audit Committee, and the Governance & Compensation Committee on financial, strategic and governance matters.
  • To provide financial direction in all areas of the LCBO’s activities as the organization transforms to operate effectively in a more competitive retail environment and migrates from being primarily a retailer to a hybrid retailer/wholesaler.
  • To advise the CEO, Executive team and Board on how financial strategies can support and enhance business objectives, and to ensure financial functions are integrated with the strategic objectives of the business.
  • To safeguard the organization’s assets and investments through the development and direction of sound financial plans and policies.
  • To ensure the optimum effectiveness and administrative of the financial functions in support of business imperatives.
  • To provide administrative oversight of the Internal Audit Services function.

CANDIDATE PROFILE

The CFO will be an experienced, creative and innovative leader with a track report of working closely in support of business partners.  Successful candidates must have broad generalist experience in all areas of Finance and demonstrated business acumen.  Ideally, they will come from a retail environment or an organization that has experienced significant change.  Knowledge of the workings of government would be an asset.

More specific requirements include:

  • Demonstrated track record of leading and engaging a large team (150+) of financial and administrative professionals.
  • Confidence and presence to work with a highly engaged Board.
  • Creativity and ingenuity to lead initiatives that look at new ways of doing things, combined with the depth and maturity to ensure financial and administration processes are robust and efficient.
  • Comfortable working with a broad range of both internal and external stakeholders, including the Ontario Ministry of Finance and the Provincial Auditor, other executives in the alcohol beverage industry, finance industry, other Canadian liquor boards etc., as well as the LCBO Board of Directors and internal executives.

Reports to:

This position reports to the CEO of the LCBO.  The CFO will also interact on a regular basis with the Board Chair and Chair of the Audit Committee.

Reporting into this position are:

  • Controller
  • Director, Financial Planning & Analysis
  • Treasurer & Director Financial Systems
  • Director Procurement Services
  • Director, Administration Services

The position has administrative responsibility for the:

  • Executive Director Internal Audit Services & Chief Audit Executive

SKILLS AND EXPERIENCE

The successful candidate will have ten (10+) plus years in senior leader roles, with routine dealings with the Board.  There will be a track record of successful implementation of strategic change in a multi-stakeholder environment.  Experience will also include demonstrable results in driving profitability while capitalizing on opportunities for growth and innovation.

The successful candidate should have:

  • A chartered professional accounting designation in good standing.
  • An undergraduate degree in relevant discipline, an MBA would be an asset.
  • Ten (10+) plus years in a senior leadership role running functions with significant sized teams.

COMPETENCIES

Core competencies for this role will include:

  • Leads People: Enables others to achieve high performance and full potential.
  • Builds Relationships: Builds and maintains relationships to advance business goals and crate a positive work environment.
  • Drives Profitability: Leverages resources and capitalizes on opportunities to maximize profit and ensure sustainable results.
  • Delivers Results: Aligns people, processes and strategies to execute business goals.
  • Enhances the Brand: Delights stakeholders and customers by driving strategies that enhance LCBO brands at every touch point; supports new ideas, curiosity and experimentation champions change and helps others to adapt/implement change.
  • Acts with Integrity: Demonstrates openness and honesty, builds trust, behaves consistently and acts in accordance with moral, ethical, professional and organizational guidelines.
  • Collaborative: Can work effectively in teams/groups, contributing and collaborating; Shares workload and rewards willingly with a broader group; Builds trust with others; builds committed and collaborative teams
  • Capacity to think and operate strategically: Sees potential future states; takes into account “big picture” issues; Conceives theoretical constructs to model potential outcomes; intellectual agility

How to Apply:

Please send your resume in Word or PDF format to: njohnson@conroyross.com. 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:
AQLL-768617 CFO & Senior Vice President, Finance & Administration – LCBO, ON – Toronto and GTA (CRPAPPLY)

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 www.conroyross.com as our opportunities are updated on a regular basis.

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