The Role of a VP Finance at Desjardins

The Vice President of Finance at Desjardins Group holds a pivotal leadership position, responsible for overseeing the financial strategy and management of one of Canada’s largest cooperative financial groups. This individual plays a critical role in ensuring the financial health, stability, and long-term sustainability of the organization.

Their responsibilities are wide-ranging and encompass several key areas. Firstly, the VP Finance is deeply involved in financial planning and analysis. This includes developing and implementing financial plans, budgets, and forecasts that align with Desjardins’ strategic objectives. They analyze financial performance, identify trends, and provide insights to senior management to inform decision-making. Understanding market dynamics, economic conditions, and regulatory changes is crucial in this aspect.

Financial reporting and control form another significant part of the role. The VP Finance is responsible for ensuring the accuracy and integrity of financial statements and reports, complying with relevant accounting standards (like IFRS), and meeting regulatory requirements. They oversee the development and maintenance of robust internal controls to safeguard assets and prevent fraud. This includes working with internal and external auditors to maintain financial transparency and accountability.

Treasury management is also typically under the VP Finance’s purview. This involves managing Desjardins’ liquidity, investments, and debt. They are responsible for optimizing the use of capital, managing financial risks, and ensuring the organization has sufficient funding to meet its obligations. This may include developing and implementing hedging strategies to mitigate interest rate or currency risk.

Capital management is a critical function, especially for a financial institution like Desjardins. The VP Finance plays a key role in ensuring Desjardins maintains adequate capital levels to meet regulatory requirements and support its growth. This involves developing and implementing capital management strategies, monitoring capital adequacy, and ensuring compliance with capital regulations.

Furthermore, the VP Finance is a key advisor to the CEO and other senior executives on financial matters. They provide strategic recommendations on investments, acquisitions, and other financial decisions. They are also responsible for building and leading a high-performing finance team, fostering a culture of collaboration, innovation, and continuous improvement.

The ideal candidate for this role possesses a strong financial background, typically with a professional accounting designation (e.g., CPA, CA) and significant experience in financial management within the financial services industry. Deep knowledge of regulatory frameworks, accounting principles, and financial markets is essential. Strong leadership, communication, and analytical skills are also critical for success. The VP Finance at Desjardins is not just a financial expert, but a strategic leader who contributes significantly to the overall success of the organization and its members.