Chief Financial and Risk Officer

Mainstreet Credit Union Canada; Strathroy; Hybrid; CAD 171,000 - 214,000; Full time

Job summary

A leading credit union in Ontario is seeking a Chief Financial and Risk Officer to oversee Finance, Credit Risk, and Enterprise Risk Management. The ideal candidate will possess a CPA and have 7–10 years of financial services experience. This position offers strategic oversight, leadership opportunities, and a chance to shape the future of cooperative finance, contributing to a member-focused approach in banking.

Benefits

Competitive salary

Inclusive workplace culture

Continuous learning opportunities

Qualifications

• 7–10+ years of progressive leadership in financial services.
• Experience engaging with regulators and Boards.
• Deep understanding of asset/liability management and enterprise risk frameworks.

Responsibilities

• Lead the integrated functions of Finance, Credit Risk, and Enterprise Risk Management.
• Oversee financial strategy, budgeting, forecasting, and reporting.
• Champion the enterprise risk management framework across the organization.

Skills

Leadership

Financial strategy

Risk management

Communication

Team development

Education

CPA or equivalent senior financial leadership experience

Job description

Overview

Location: Hybrid – based in Southwestern Ontario (Strathroy preferred; Chatham or Sarnia possible)

Job Grade: $171,053 to $213,816 (commensurate with experience) plus potential for annual incentive

About You

Mainstreet Credit Union is seeking a dynamic, forward-thinking executive to serve as our next Chief Financial and Risk Officer (CFRO).

As a key member of the Executive Leadership Team, you will lead the integrated functions of Finance, Credit Risk, and Enterprise Risk Management (ERM) – providing strategic oversight, regulatory stewardship, and operational alignment in a single unified role.

This position is ideal for an experienced financial leader who thrives on influence, cross-functional collaboration, and meaningful impact. It is also a compelling succession opportunity to the CEO, as the successful candidate will play a central role in shaping the credit union’s long-term direction.

Major Areas of Responsibility

• Strategic Leadership & Governance
  • Serve as an advisor to the CEO and Board on financial performance, capital adequacy, credit risk, and enterprise risk.
  • Lead integrated financial and risk planning processes aligned with the credit union’s long-term strategy and risk appetite.
  • Actively participate in key governance forums, including Board meetings, Audit Committee, ALCO, Credit Committee, and ERM Committee.
  • Represent the credit union with regulators, leading the FSRA relationship alongside the CEO.
• Financial Management
  • Oversee financial strategy, budgeting, forecasting, reporting, and internal controls.
  • Lead capital planning, interest rate risk management, liquidity strategy, and treasury operations.
  • Direct the external audit process and regulatory financial reporting requirements.
  • Guide investment decisions and rate-setting within approved policies and risk parameters.
• Enterprise Risk Management
  • Champion the enterprise risk management framework, ensuring full coverage of strategic, financial, operational, technological, legal, and reputational risk domains.
  • Oversee key risk programs including business continuity, AML compliance, third-party risk, and cybersecurity oversight.
  • Foster a risk-aware culture across the organization through leadership, coaching, and structured risk dialogue.
• Credit Risk Oversight
  • Provide executive oversight of credit risk policy, lending governance, and portfolio performance monitoring.
  • Ensure consistency with internal risk appetite and evolving regulatory requirements.
  • Guide delinquency management strategies and credit loss mitigation efforts.
• Leadership & Talent Development
  • Lead and mentor three functional teams, each headed by a Director (Finance: ~7 staff; Credit Risk: ~5; ERM: ~4).
  • Build a culture of performance, collaboration, and proactive risk management across all areas of accountability.
  • Coach emerging leaders and support the development of future senior talent.

Qualifications & Candidate Profile

• Professional accounting designation (CPA preferred) or equivalent senior financial leadership experience.
• 7–10+ years of progressive leadership in financial services, with oversight of financial reporting, treasury, credit risk, or enterprise risk.
• Experience engaging with regulators and Boards; familiarity with FSRA’s risk-based supervision framework strongly preferred.
• Deep understanding of asset/liability management, capital planning, and enterprise risk frameworks.
• Proven success building high-performing, cross-functional teams and fostering strong working relationships.
• Excellent communication and decision-making skills, with a mindset for continuous improvement and strategic growth.
• Demonstrated ability to lead through influence and balance operational pragmatism with long-term thinking.

Why Join Mainstreet?

With $1.2 billion in assets, a growing member base, and deep community roots, Mainstreet Credit Union is one of Ontario’s top 15 credit unions. We are committed to advice-led, member-focused banking that makes a real difference in people’s lives. This is a unique opportunity to join our Executive Team and shape the future of cooperative finance in Ontario—where performance, purpose, and people come together.

Join Mainstreet Credit Union and be part of a workplace that values diversity, promotes equity, and fosters inclusion. We actively seek diverse perspectives, ensure equal opportunities for all, and cultivate a culture where every individual feels valued. Our commitment to continuous learning ensures an environment where everyone can thrive.

Mainstreet Credit Union is an equal opportunity employer. We welcome applications from candidates of all backgrounds and experiences. Accommodation is available upon request for candidates taking part in all aspects of the selection process.

Note: This posting is for an existing vacancy. AI in use for assessment of application compatibility.