Chief Information & Technology Officer

Posted 20 March 2024

Chief Information & Technology Officer at Libro Credit Union

Information Technology Full-time Toronto

Experience: Senior-Level
Education Required: Bachelor's degree in Information Technology, Computer Science, Engineering, or equivalent educational experience, with a Master's degree preferred.
Salary Range: Not Specified

Close date: 19 April 2024

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About Libro Credit Union

Libro Credit Union (“Libro”) is one of the largest credit unions in Ontario and reinvests 100% of profits back into the people, businesses, and communities it serves. Libro has a purpose beyond profit, helping its Owners achieve their goals, supporting businesses to create a thriving local economy, and contributing to strong and prosperous communities. Libro is based in the traditional territory of the Neutral, Attawandaron, Haudenosaunee, Anishinaabek, Lunaapeewak, Algonquin, Leni-Lunaape, and the Ojibwe/Chippewa peoples.

Libro is owned by its customers, who elect the Board of Directors to govern the cooperative. Libro offers a broad range of financial services, including chequing and savings accounts, loans, mortgages, investments, financial coaching and advice for consumers and farm and business owners. Deposits are insured by the Financial Services Regulatory Authority of Ontario (FSRA).

Libro demonstrates strong and exceptional performance in employee engagement, leadership, performance culture and employment brand. With a full range of financial products and services for consumers, businesses, and farms, Libro’s passionate staff and commitment to its communities sets the organization apart.
Libro’s great service can be experienced through 36 locations, online, telephone, mobile devices, and a network of 4,000 ATMs across Canada.

Position Description

The Opportunity

Reporting directly to the President & CEO, the Chief Information & Technology Officer (CITO) provides consideration to the enablement of Libro’s purpose, vision, long term strategic plans and short-term objectives.

The CITO provides technology leadership, working to accelerate innovation in technology systems to enable the employee and owner journey, as well as Libro’s digital transformation strategy.

As well, the CITO ensures the stable operation of banking systems and network infrastructure, and oversees the architecture, implementation, and integration of systems solutions. The role keeps current with emerging technologies, cyber security risks, open banking, and digital banking trends to ensure effective IT investments that drive revenue and reduce costs.

The position provides sound strategic leadership to ensure Libro is effectively leveraging opportunities within both an Open Banking context, as well as within a modernized Payment environment. Actively engaging with Libro’s partners, vendors, and large credit union peers more broadly, the CITO drives and supports innovation within the credit union ecosystem.

This leadership role ensures that the IT function is structured and resourced to enable seamless distribution and owner experiences, while ensuring the protection of data assets and security to maintain stakeholder and owner trust.

Key Duties & Responsibilities

Specific responsibilities of the role includes:

  • Enterprise Leadership: Participates as an active member of the Executive Leadership Team by contributing to enterprise-wide and departmental strategies, while providing strong Credit Union system and community leadership & engagement.
  • People Leadership: Demonstrates exceptional leadership, mentorship, and coaching of the Information Technology Staff, ensuring a capable, highly functional IT leadership team and workforce.
  • Staff Engagement: Ensures high levels of staff engagement by delivering strong people leadership through effective communications and ensuring understanding of Libro’s strategy.
  • Strategy: Provides and champions a technological vision and strategic direction for the enterprise. driving the implementation of strategies for the achievement of corporate objectives; provides insight and expertise to help Libro remain a technologically innovative organization, and promotes the use of technology throughout the organization.
  • Enterprise Architecture: Responsible for creating and maintaining a unified IT environment across the organization that supports enterprise strategy, scalability, increased responsiveness, and cost effectiveness.
  • Technology and Systems: Oversees the multi-year technology roadmap including planning, selection, purchase, development, implementation, and integration of new technology, infrastructure, and systems to support achievement of corporate objectives. Ensures the organization is positioned for operational efficiency and effectiveness, delivering secure and reliable access for business functions throughout the organization and immediate response or resolution to operating problems.
  • Banking Solutions: Develops a strategy, systems, and resource capability to effectively plan, develop, test, and execute digital banking and banking system objectives and enhancements; collaborates with senior leadership and business line leaders to identify areas where digital technology can be used to create efficiencies and enhance Staff and Owner experiences.
  • Data Governance: Manages the development and implementation of defensive data strategies and systems to ensure Libro data is secure, accurate, and usable to achieve Libro’s objectives.
  • Cybersecurity: Establishes a comprehensive enterprise information strategy and security program to ensure the integrity, confidentiality, and availability of relevant data.
  • Open Banking: Responsible for the strategy, governance, architecture, and enablement of Libro’s evolution in an Open Banking context.
  • Payments: Develop, implement, and sustain Libro’s payment modernization strategy, including the management of payment solutions to ensure the needs of the business, working collaboratively within the Credit Union industry on system initiatives.
  • Risk Management: Ensure staff embrace an appropriate risk management framework in a culture that encourages empowerment and smart risk-taking, and oversee operational workflows, processes, and procedures that are aligned with key controls, risk management, and compliance.

Required Skill / Experience

The Individual

The CITO is a seasoned financial services and information technology leader with expertise in successfully leading information technology teams, and with a strong understanding of IT and Data Governance. The successful candidate is able to enhance the digital banking and application platform at Libro Credit Union and is a forward thinking and visionary IT leader with the ability to provide strategic oversight and execute on digital and technology strategies, initiatives, and objectives.

Skills, Knowledge, and Experience

  • 7+ years' leadership experience in financial services; minimum of 10+ years' experience in senior IT leadership roles, including the digital banking space.
  • An in-depth knowledge and demonstrated expertise in people and culture, with experience in a values-driven business a definite asset.
  • Experience managing large scale technology projects and partnering across the organization to influence outcomes and gain broad acceptance to technological change.
  • Knowledge and experience with Payments Modernization initiatives for Canada and Open Banking/changing competitive landscape.
  • Experience managing relationships with government and financial regulatory bodies, along with knowledge and sound understanding of applicable federal and provincial legislation and regulatory requirements is an asset.

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