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PRESIDENT'S CORNER
Our Strategic Path
Dear FEI Canada members,
In the fall of 2006, Kathy Stevenson, then Chair of FEI Canada's Board of Directors, spearheaded a day-long face-to-face strategic planning session at which the National Board and National Office staff developed FEI Canada's strategic priorities for the coming years. A good start was made that day, as many priorities were discussed and established. Over the next several months, staff analyzed and elaborated upon this initiative. The resulting five-pronged strategic plan was discussed extensively at the committee level and then approved by the Board in May 2007. Work on FEI Canada's five strategic priorities commenced in the summer of 2007.
On November 21st and 22nd, 2007, current FEI Canada Chair Louis O'Brien and I convened FEI Canada's annual Strategic Retreat. This event was well attended by FEI Canada's Board of Directors, the National Office Leadership Team and - for the first time - representatives of almost all of FEI Canada's 11 Chapters.
I was very pleased to see that all Strategic Retreat attendees were fully – and at times even passionately – engaged in discussions about FEI Canada's future. Based upon the feedback I received following this session, participants shared my view that this Retreat was very worthwhile. FEI Canada's members should know that they are truly blessed with a dedicated volunteer leadership who are committed to ensuring FEI Canada remains Canada's premiere association for senior financial leaders.
| Talking about financial leaders... FEI Canada presents two significant awards honoring Canada's senior financial leaders each year, and you are encouraged to consider submitting nominations at this time. The first, Canada's CFO of the Year™ Award 2008, is presented to a CFO who has made an outstanding contribution to business in Canada with quality, insight and direction. The second, the Frank Capon Distinguished Service Award, recognizes the commitment and contribution made by an FEI Canada member to our organization. |
(1st row) Massood Oroomchi, Kathy Stevenson, Louis O'Brien, Michael Conway, Grant Ring, Jim Power
(2nd row) Vic Wells, Ramona Dzinkowski, Leslie Markow, Bill Ross, Betty Hoffart, Cliff Truax
(3rd row) James Saretsky, Azam Foda, Tom Evans, Dawn Butler, Bev Davies, Cameal Prince, Tim Onciul
(Last row) Janet Dalicandro, Alister Cowan, Serge Pharand, Louis Marcotte, Alfred Black, John Weerdenburg
(Missing from picture) Karyn Brooks, Lindsay Collins, David Graham, Christopher Sheedy
What follows is a brief summary of the outcomes of our discussions, presented within the context of the five strategic priorities initially established.
Profile, Public Relations and Branding
Strategic Goal: To increase FEI Canada's profile and recognition.
We need the business community, regulators and key influencers to see FEI Canada as an influential and relevant organization, and we will strive to be the 'go to' source for media, government and regulatory authorities for technical expertise and opinions.
To this end, FEI Canada has retained the services of Fleishman Hillard International Communications, a Toronto based national communications firm, to assist us in achieving our media strategies. FEI Canada developed a detailed Communications Plan, and has begun executing thereon. FEI Canada profile activities this year have included:
- News release and media coverage on our IFRS presentation with CCR Chairman Alister Cowan and myself to the Accounting Standards Oversight Council, urging AcSOC to address our IFRS concerns or extend the 2011 implementation deadline
- News release and magazine articles on IPAC's submission to the Ontario Expert Commission on Pensions, urging them to revise pension management rules
- Media coverage of FEI Canada's "Best in Class" Case Competition
- Address entitled "The evolving role of Canadian CFOs" which I presented to Vancouver Chapter's October 19th meeting and Quebec Chapter's conference on December 11th.
One key way FEI Canada's profile is reinforced is when you – our members – proudly indicate on your executive biographies, resumes and business cards that you are members of FEI Canada.
Database Management
Strategic Goal: To ensure FEI Canada's information resources best serve its members.
After staff determined the existing database and website as inadequate to meet the future needs of members, the Board approved the inception of a project to modernize this system and provide better e-commerce solutions. This database/website/e-commerce project began this summer and we have now begun the testing and implementation phase. Once complete, FEI Canada will begin offering enhanced online e-commerce and electronic network services, such as 'communities of interest' that will allow members to interact with each other by industry group.
This is where you come in – please make it a point of responding to the demographic data collection request that FEI Canada will be sending you in January! Stay tuned for future web launch announcements.
National/Chapter Governance
Strategic Goal: To clarify how FEI Canada can best deliver services and programs to its members, through both its National Office and its 11 Chapters.
As organizations such as FEI Canada mature, it is helpful to engage in a consultative process of clarifying the roles and responsibilities of their various stakeholders. A Governance Sub-Committee ("GSC") was formed at the Board's request to address and resolve this goal, under the Chairmanship of former FEI Canada Chair Tom Evans. Over the past six months, the GSC has met several times with the Chapter Presidents, and a report has now been tabled detailing recommendations related to FEI Canada membership, communications, programme administration, sponsorship, and Chapter finances and administration. The GSC's report was issued to all Chapter Boards as part of an extensive consultation process, and preliminary comments were discussed at the November 22, 2007 Strategic Retreat. Once each Chapter's feedback is incorporated into the report, recommendations will be presented to the Board for approval in the New Year.
Membership Growth
Strategic Goal: To maintain FEI Canada as Canada's premier association of senior financial leaders and to increase membership to 2500 members by 2010.
FEI Canada's members are instrumental in helping us achieve this strategic goal, as it is you who best know the advantages of an FEI Canada membership. Please share this experience with your professional colleagues, and encourage them to become members, so that they too may benefit from FEI Canada!
Although membership growth is always a priority, our ability to execute the other components of FEI Canada's Strategic Plan will influence our ability to meet all of our growth targets. We intend to meet or exceed our Plan and our members' expectations to the best of our ability. As always, if you have any suggestions, please let us know by completing the membership survey that will be circulated in January 2008.
Knowledge Exchange
Strategic Goal: To ensure FEI Canada events are timely and targeted to its members and that FEI Canada provides cutting edge research and content on relevant member issues.
Compelling content at FEI Canada's Annual Conference, breakfast seminars and chapter events are always critically important to provide value to members. Event attendance has also been an excellent recruiting tool for new members. Eight national breakfast seminar series have been set for the 2007/2008 year, and the Fall 2007 topics included:
- IFRS (KPMG series in September 2007),
- High-tech Finance (Microsoft series in October 2007),
- Corporate Performance Management (SAP series in November 2008),
- New World of Treasury (TD Asset Mgmt series in December 2007).
FEI Canada's two national technical committees (CCR and IPAC) and its research arm (the Canadian Financial Executives Research Foundation, or "CFERF") make a difference on issues of importance to our members and to Canada's business landscape.
Your national Board of Directors, Chapters and national leadership team look forward to moving the association toward the fulfillment of all of our strategic goals, and as always, meeting the needs of you – the members of FEI Canada.
In Closing
In this, my final column for 2007, I would like to wish you and your families much health, joy and prosperity in this holiday season and throughout all of 2008!
Michael Conway
Chief Executive and National President
FEI Canada
FEI CANADA AWARDS
FEI Canada's Frank S. Capon Distinguished Service Award
FEI Canada recognizes the commitment and contributions made by our members to the organization and through this award, seeks to identify and reward a member who has had a significant impact on the organization over the years through:
- Promotion of the FEI Canada brand in the marketplace
- Delivery of programs to the membership
- Participation in Chapter or National Committees
- Leadership in professional and community associations
Candidates may be nominated by any active FEI Canada member. The nomination must be supported by two current National or Chapter Board Members. Nominees must be active or retired members in good standing.
Nominations will be accepted until January 15, 2008. The winner will be recognized at the FEI Canada Conference in Jasper, AB in June 2008.
For more information on the award and the selection process, and to access the nomination form, please see here.
Canada's CFO of the Year™ 2008 Award, |
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— Submit your nomination at www.cfoy.ca
Nominations are now being accepted at www.cfoy.ca for the 2008 Canada's CFO of the Year™ Award. The award is given annually by presenting sponsors Financial Executives International Canada (FEI Canada), PricewaterhouseCoopers LLP (PwC), and The Caldwell Partners International. Now in its sixth year, the award honours the quality, insight, direction and leadership of Canada's senior financial leaders. Nominations close on March 31, 2008.
Candidates, from any sector, may be nominated by CEOs, corporate directors, financial analysts and other senior executives. An independent selection committee, chaired by Peter Dey, Chairman, Paradigm Capital Inc., and composed of some of Canada's most prominent business leaders, will select the 2008 award winner. The 2008 recipient of Canada's CFO of the Year Award will be honoured at a gala dinner on May 29, 2008 at The Fairmont Royal York in Toronto.
"The CFO of the Year Award recognizes the tremendous achievements and the valuable contributions that are made on a daily basis by financial leaders across Canada," says Michael Conway, Chief Executive and National President of FEI Canada. "Each year the quality of the nominations is a testament to the profession."
Previous recipients of Canada's CFO of the Year Award include:
| 2007: |
Marvin Romanow, Executive Vice-President and Chief Financial Officer, Nexen Inc. |
| 2006: |
Karen Maidment, Chief Financial and Administrative Officer, BMO Financial Group |
| 2005: | Claude Mongeau, Executive Vice-President and Chief Financial Officer, CN |
| 2004: |
Peter Rubenovitch, Senior Executive Vice President and Chief Financial Officer, Manulife Financial Group |
| 2003: |
Peter W. Currie, former, Vice-Chairman and Chief Financial Officer, RBC Financial Group. |
For more information or to submit your nomination for the next Canada's CFO of the Year, please visit www.cfoy.ca.
FEI CANADA - EVENTS
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REGISTER NOW for the third annual Private Equity Symposium on January 23rd, 2008 at the Dominion Club in Toronto.
A collaborative event with The Canadian Institute of Chartered Business Valuators, Canada's Venture Capital & Private Equity Association and Toronto CFA Society, Financial Executives International (FEI) Canada, will host its third annual symposium to help keep you abreast of the current trends and issues impacting today's Private Equity practitioners.
WHAT YOU CAN EXPECT
This multi-disciplinary symposium will provide a view of the current trends in Private Equity including investing, market volatility, mergers and acquisitions exits, and structuring investments. The presentations will feature discussions of key issues and trends relevant to private equity investors and those who support the private equity community.
This event will provide an excellent opportunity to network with colleagues from all sides of the Private Equity market. Plan to attend and gain a broader perspective of the current Private Equity landscape.
WHO SHOULD ATTEND?
Business leaders including: venture capitalists, institutional investors, private equity investors, accountants, lawyers, consultants, security exchanges, investment bankers, academia, and government.
The list of distinguished speakers includes:
Jim Leech, President and CEO, Ontario Teachers' Pension Plan
John E. Walker, LL.B., CA, FCBV,,Managing Director, CIBC World Markets Inc.
Jeff Parr, Co-Chief Executive Officer and Managing Director, Clairvest
Michael Rolland, President, Borealis Infrastructure, OMERS
Nigel Wright, Managing Director, Onex Corporation
Michael Bernstein Senior Managing Director, Head of Canadian Infrastructure and Utilities Advisory, Macquarie North America Ltd.
Rick Nathan, Managing Director, Kensington Capital Partners Limited
Richard Kinlough, Managing Director, Group Head, CIT Corporate Finance, Canada
George Rossolatos, Partner, Torquest Partners
Brad Ashley, Managing Partner, Priveq Capital Funds
Tim Patterson, Managing Director, CAI Capital Management
For further details about the program and speakers, CLICK HERE.
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Executive Research Forum - IFRS Readiness In Canada
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sponsored by: |  |
The Canadian Financial Executives Research Foundation and its Research Sponsor, Ernst & Young, is pleased to present an Executive Research Forum on February 15 , 2008 in Toronto on the topic of IFRS readiness in Canada.
The Forum is currently seeking the input of senior financial executives across the country who are willing to express their views on the challenges of adopting IFRS in Canada by 2011. It will present practical insights and concerns surrounding impending accounting impacts, strategic requirements, and organisational change issues that are currently top of mind for many business leaders. Members of the Canadian Accounting Standards Board will be invited as observers to the event.
The findings of this Round Table will be incorporated into an Executive Research Report scheduled for release April 24 in conjunction with the International Accounting Standards Board/CICA North American Conference. It will also help inform the Canadian Accounting Standards setters of the most pressing concerns of Canadian senior financial executives.
CFERF is asking individuals who might be interested in participating in the event to contact Executive Director, Ramona Dzinkowski on rdzinkowski@feicanada.org –
416-366-3007 ext 5114.
We are specifically seeking the input of senior financial executives from the following industries, but all are welcome:
- Financial Services/Insurance
- Public Capital and Fund Management
- Retail and Commercial Banking
- Oil and Gas
- Energy Sector
- Telecommunications
- Mining
Roundtable Details:
Date: February 15, 2008
Time: 8:30 am – 12:15 pm (Breakfast 8:00 am)
Location: Conquest Boardroom, Intercontinental Hotel Toronto Centre
225 Front Street West
Toronto, ON
M5V 2X3
Copyright Notice
Copyright © 2007 by Financial Executives International Canada (FEIC).
All rights reserved. This content is owned by FEIC. This information may be downloaded once but may not be further reproduced, publicly distributed, publicly displayed or otherwise used by any person or entity without approval from Financial Executives International Canada (www.feicanada.org).