Strategic Plan

Financial Affairs reviews and sets its objectives annually. Organized across four strategic pillars referred in practice as the CFO responsibility quadrants of strategist, stewardship, operator, and catalyst. Our mission is to support and serve the University and its communities with expertise and integrity. Our vision is to facilitate financial strategies and monitor overall financial health of the University. We support initiatives aligned to realizing McMaster’s mission, vision, and strategic plans with a focus on simplification, standardization, integration, communication, and education.

Objectives are set to support the University’s strategic plans, including the President and Vice-Presidents annual strategic goals.Priorities are formed based on input collected from the community drawing on interviews, focus group consultations, recommendations from reviews, customer effectiveness surveys, and employee engagement results.

Financial Affairs Responsibility Quadrants

Strategist Related Goals

Focus on managing future directions in a financially prudent way by ensuring informed strategic decision-making and integrating sound project and performance management.

  1. Support government priorities
  2. Advance alternative revenue generation initiatives
  3. Advance ancillary operations
  4. Partner and optimize social media outreach

Stewardship Related Goals

Focus on accounting, risk management, and the preservation of assets. This focus includes ensuring compliance with reporting requirements, legislative directives, and effective internal controls.

  1. Provide reliable financial information modeled to user needs
  2. Ensure accounting control and compliance aligns to Enterprise Risk Management
  3. Ensure Ancillaries balance and meet targets

Operator Related Goals

Focus on people and process efficiencies with a responsibility to balance cost with valued services. This focus includes talent management, and student, faculty, staff, and community service.

  1. Empower employee engagement and support priority actions
  2. Be University community connected
  3. Be City community connected
  4. Use feedback mechanisms to anchor priorities

Catalyst Related Goals

Focus on lean six sigma systems and process initiatives that engage stakeholders, leads positively, communicates broadly, and works to align processes across the university.

  1. Initiate projects focused on efficiency, integration, and alignment
  2. Coordinate initiatives across the academy and administration
  3. Be mindful of Sustainable Development Goals when planning changes
  4. Consider evolving practices within and outside Higher Education