Deputy CFO

Hybrid / Toronto, ON
Finance & Accounting

Our Client

The University Health Network (UHN) is Canada’s No. 1 hospital and the world’s No. 1 publicly funded hospital. With 10 sites and more than 20,000 members of TeamUHN, UHN consists of Toronto General Hospital, Toronto Western Hospital, Princess Margaret Cancer Centre, Toronto Rehabilitation Institute, The Michener Institute of Education at UHN and West Park Healthcare Centre. As Canada’s top research hospital, the scope of research and complexity of cases at UHN have made it a national and international source for discovery, education and patient care. Driven by the vision of a healthier world, UHN’s purpose is transforming lives and communities through excellence in care, discovery and learning.

Position Overview

Currently, UHN is seeking an experienced and innovative Deputy Chief Financial Officer as a senior leader in finance.   Reporting to the Chief Financial Officer (CFO), the Deputy Chief Financial Officer (DCFO) is responsible for effective and efficient financial management, reporting, and financial services delivery while supporting the CFO in aligning strategic and financial initiatives with patient and hospital priorities.

Leading a substantive team, the DCFO plays a critical role in enabling UHN to meet its organizational goals by:

  • directly impacting the management and financial integrity of UHN through the effective stewarding of organizational resources, maintaining appropriate controls, and integrity of financial management in compliance with applicable legal, governmental and regulatory requirements.
  • providing strategic leadership and oversight to ensure the delivery of finance operational excellence; the development of timely/relevant financial information, financial planning and reporting as it relates to general accounting, accounts payable, corporate billings/accounts receivable, procurement, capital assets, treasury, taxation, ministry reporting matters, and special projects as delegated.
  • ensuring alignment with UHN’s mission, core values, partnership policies, and strategies; championing the financial and ethical integrity, serving as an effective leader for responsible change.
  • establishing effective working relationships with hospital/medical staff, Unions, UHN foundations, Ministries (Ministry of Health or Education), LHINs, financial peers in the sector.

This is an ideal role for a finance leader with a minimum of 10 years of relevant experience within healthcare or applicable business sectors keen to impact an essential and future forward organization.

Role Responsibilities

  • Provide strategic financial controllership and stewardship for the finance portfolio, ensuring effective delivery of services which support the mission and vision of UHN.
  • Oversee a team of over 100+ professionals to optimize the use of hospital’s resources, ensures departments are administered in a fiscally responsible manner to maximize organizational capacity and optimize the benefits to the hospital.
  • Lead multi-year complex financial and capital planning including the integration of financial, clinical and management data.
  • Actively evaluate the impact and performance of UHN business plans, budgeting and long-range planning, introduction of new programs/strategies, capital acquisition, technological investment, and regulatory action to recommend appropriate course of action to CFO and executive team.
  • Drive the treasury management functions of multi-currency, multi-legal entity banking including investment, financing, operating lines of credit to ensure appropriate level of liquidity for operation and fund flow to optimize working capital. Determine UHN investment opportunities and recommend optimal courses of action with full disclosure of associated risks.
  • Manage all debt including Long-Term Debt, Bond Debenture and Capital Leases and Interest Rate Swaps and support the annual Bond Rating with bond raters and financial markets.
  • Ensure compliance with the Investment Policy and all financial and debt covenants, with reports to the Board on a regular basis.
  • Establish relationships with financial regulators, Investment Managers, and Debt Trustees.
  • Oversee Asset Insurance ensuring appropriate insurance coverage and claims management.
  • Lead the Investment Financing Advisory Group and provide insight on formulating financing and cash generating scenarios to support the strategic plan and initiatives.
  • Liaise with the Ministry of Health and Local Health Integration networks regarding matters of hospital funding and support; including management of reporting requirements.
  • Develop an overall procurement strategy to drive savings and efficiency throughout the supply chain; ensures delivery of annual financial targets for supply chain efficiencies.
  • Responsible for the management of appropriate financial management and internal control systems that assures integrity of data; sustains a culture of business fluency, fiscal accountability, and continuous improvement.
  • Ensure the annual external audit is completed in a timely and objective manner, including issuance of the annual financial statements.
  • Represent Finance internally on UHN committees, as required, and UHN in the external community.
  • Participate and present to the Finance and Audit Committee of the Board and the Fiscal Advisory Committee.

Desired Qualifications

  • Chartered Professional Accountant CPA, CA required.
  • A minimum of ten years of relevant financial leadership experience in healthcare or a relevant business sector within a complex, multi-site organization.
  • Demonstrated track record of achievement in team building and management development.
  • Previous experience in leading significant organizational change in a large de-centralized environment.
  • Ability to work and thrive in a changing environment working within financial constraints.
  • Demonstrated experience in financial strategy, treasury risk assessment, financing and investment Management.
  • Exposure to procurement directives and supply chain initiatives is an asset.
  • Exceptional communication skills both verbal and written with the ability to articulate complex financial issues to a broad and diverse audience.
  • Excellent analytical, problem-solving and decision-making skills with the ability to identify trends, establish benchmarks and provide credible analysis and business recommendations.
  • Demonstrated comfort and presence with Boards and external agencies.
  • Knowledge of the healthcare sector and broader public sector procurement directives an asset.
  • Expertise with Ministry of Health and Local Health Integration Network reporting requirements is preferred.

We appreciate your interest in this role.

In sharing your resume, you place your trust in us to treat you with integrity and respect and act in your best interests. All resumes will be held in the strictest of confidence.

Those who most closely meet our client’s requirements will be contacted for an interview.

Please pass this opportunity forward. We welcome all referrals should someone in your network benefit from this opportunity.

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Katie Watt

Research and Operations Specialist

Katie enjoys being part of the Research and Operations division at Thorek/Scott and Partners. Katie utilizes her skills in research, project and data management to support the recruiting efforts of the Thorek/Scott and Partners team. She enjoys working in the positive team atmosphere that Thorek/Scott and Partners offers.

After completing her Master’s in Geography at the University of Toronto, Katie worked in consulting in the environmental non-profit sector where she conducted policy analysis and delivered workshops on sustainable development. Katie continues to pursue her passions of environmental protection by volunteering with local environmental non-profit organizations.

Lisa is thrilled to be a part of the team at Thorek/Scott and Partners. Lisa’s deep background in financial services, relationship building, and customer service coupled with her background in operations and support has been instrumental to the firm’s Research and Operations division. Prior to joining Thorek/Scott and Partners, Lisa worked for over 10 years in a large Canadian Bank in front facing, client operational roles. Having worked for large organizations in the past, she is delighted to be part of a close-knit group and enjoys the upbeat office and friendly environment at Thorek/Scott and Partners.

In her free time, Lisa enjoys reading, crafting and spending time with family and friends.

Derek Young is a former finance professional turned recruitment consultant. He connects top-tier talent with prestigious organizations seeking exceptional leaders. His expertise lies in the recruitment of high-caliber risk and compliance professionals for investment management, real estate, and financial services firms across North America.

Derek joined Thorek/Scott and Partners after a successful tenure with one of the largest globally recognized recruitment firms, where he specialized in consulting legal and compliance professionals across financial & professional services. He is passionate about helping people fulfil their long-term career aspirations. Derek’s personable approach and knowledge of the financial landscape allows him to develop strong relationships with both candidates and clients.

After completing his B.Com from the University of Toronto’s Finance program, Derek began his career as a financial advisor working for two of Canada’s largest wealth managers. These roles taught him the importance of listening to his clients and always putting their goals first. Derek has lived and traveled in Ireland, Europe, Asia and Africa. He enjoys playing and watching a variety of sports, and spending time with friends and family.

Lisa is thrilled to join the Thorek/Scott and Partners team and brings 30 years of experience in large public sector organizations. She has held multiple executive leadership positions in the education sector and as CEO was responsible for overseeing all aspects of the organization including Human Resources, Operations, Information Technology, Finance, Capital, and Leadership.

Lisa brings her insight and experience to executive recruitment. She is a highly motivated and goal-oriented professional dedicated to finding high quality talent.

Lisa has worked with multiple stakeholders within the community and at the Provincial level. She has trained senior executives on Strategic Planning and Implementation in Canada and the United States. She has taught Masters’ level courses and College programs. She has authored documents on Strategic Planning, Poverty, Succession Planning and Leadership Development.

She holds a Bachelor of Arts in Psychology, and a Master’s degree in Leadership/Administration. Lisa completed the Executive Leadership programs at Rotman School of Management and the Richard Ivey School of Business as well as earning multiple certificates at the Queens Executive Education Program.

Lisa belongs to several professional organizations including the Professional Women’s Network, Equal Voice and Elevate. In her spare time, she enjoys spending time with family, travelling, and giving back to her community.

Lauren Thorek is proud to be a member of the recruiting team at Thorek/Scott and Partners. Since joining the firm, Lauren has taken an active role in providing the highest levels of service and support to our clients and candidates.

Ethical, passionate and innovative, Lauren builds lasting relationships and strives to create solutions tailored to fit the short-term needs and long-term goals unique to different individuals and organizations. She thrives on challenge and is motivated by exceeding expectations on tough, hard to close searches.

Active in multiple sectors including Real Estate, and Investments and Financial Services, Lauren views success as being a passionate advocate for her candidates and a valued partner to her clients.

Sari Friedman is delighted to be back at Thorek/Scott and Partners. With over 25 years of real estate and finance experience and a passion for people, transitioning into the recruitment industry was a natural fit for Sari. 

She brings multiple experiences and synergetic attributes to her role at Thorek/Scott. Having worked as an equity research associate covering real estate and REITs, Sari has a strong understanding of the real estate industry. She holds a real estate license, has actively traded real estate and is a personal investor. Sari’s technical insight combined with her outstanding business acumen, strong negotiation and research skills adds tremendous value to clients and candidates. 

Sari is well known for her caring and friendly demeanour. She is passionate about helping people with an emphasis on providing an individualized human experience. She will often go above and beyond when coaching her candidates and clients throughout the recruitment process. Sari takes the time to understand the needs of her clients and candidates and creates long lasting relationships. 

Sari graduated from University of Western Ontario majoring in Economics and earned her MBA from the University of Toronto Rotman Management Program. She enjoys spending time with her family and friends, cooking, travelling and camping.

Steven is a CPA who graduated with an honours bachelors degree in business from McMaster University & from Cornell University with an Executive MBA. Before joining Thorek/Scott he spent his career in industry, building large support service teams and also taking an active role in the overall corporate recruitment functions as a VP/CFO. He prides himself as a recruiter who is transparent, a great communicator and gives honest feedback.

Steven is passionate about travelling, having visited over 130 countries, and about his Toronto Maple Leafs.

Faye Thorek is an accomplished executive search consultant with over 40 years of experience in the Canadian recruitment market. Known for her keen insight and compassionate dedication to her work, Faye envisions herself as an advocate for those with whom she conducts business. Over the years, Faye has consulted numerous companies on how to best craft their strategic vision and then taken the lead on executing that mandate. She has spoken on recruitment and search issues to a wide range of audiences.

Outside of the office, Faye is also a committed investor in people. She volunteers with Out of the Cold, Kids.now, and Bereaved Families of Ontario (BFO). She has sat on the Professional Development Steering Committee of the HRPAO. She is a former member of the Board at BFO and the North York Harvest Food Bank.

Having founded Thorek/Scott and Partners over four decades ago, Michael Thorek has been shepherding its growth ever since. Together with his wife, Michael is dedicated to building a business with humanity, innovation, and excellence at its core. A specialist in the recruitment of talent for the Financial Services Industry, Michael has currently turned his interest towards the field of Risk Management, Capital Markets and Database Marketing Analytics. A jack of many trades, Michael is also a father, inventor, scholar and scribe, who possess a keen interest in comparative religions.