Pamela Steer, CFA
CAREER HIGHLIGHTS

• CFO of the Workplace Safety and Insurance Board
• Master of Accounting, CPA, CA, CFA
• Board Member and Treasurer of CFA Society Toronto
• Successfully launched first completely online consumer lending service in Canada
• Secretary/Treasurer and member of the Government Relations Committee for the Ontario Association of Naturopathic Doctors

Pamela Steer is the Acting CFO for the Workplace Safety and Insurance Board (WSIB). Pamela has more than 15 years of senior management experience. Her most recent role before joining the WSIB was Chief Operating Officer of Wonga Canada. Prior to Wonga, she was CFO at Fusenet and vice president of Finance at Redknee Solutions Inc. Pamela is also active in the not-for-profit space, where she is currently Secretary/Treasurer and Chair of the Governance and Nominating Committee for the Ontario Association of Naturopathic Doctors in addition to her role on the Finance Committee of CFA Society Toronto. Pamela has a Master of Accounting and is accredited as a Chartered Accountant (CPA, CA) and a Chartered Financial Analyst. She recently completed the Rotman International Centre for Pension Management’s Board Effectiveness Program and the Rotman Institute of Corporate Directors NFP Governance Essentials Program.

Congratulations on your appointment to CFA Society Toronto Board as Treasurer, an important and demanding role. Can you share some of what you hope to accomplish?

Thanks! It’s an honour to be a part of such a vibrant society with a committed Board and staff. As part of the Board, I hope to help maximize the value to members by leveraging the results of the recent membership survey and deliver the services that members need and want in a financially sustainable manner.

You have extensive board experience. What advice do you have for those looking to join a board for the first time?

I recommend that you volunteer in some capacity. Stand up and state your interest. Don’t wait for someone to tap you on the shoulder. Pick an area that awakens a passion, volunteer in an area that needs help, and indicate an interest in moving into a board role in the future.

You have a wide-ranging and accomplished career. What have been the driving forces that have made it evolve in such a unique way?

I’ve always been open to stepping outside my comfort zone and taking the left-hand turn instead of the straightforward path when the opportunity arises. Embrace new ideas and learn, learn, learn! I believe my wide-ranging experiences now allow me to add value in a variety of ways because I haven’t taken a traditional or direct career path where I’ve always seen the same issues in the same context. Senior management values a breadth of understanding and experience and the ability to apply knowledge from those experiences into your current organization’s needs.

How has your early work with more entrepreneurial companies influenced your career?

I’ve been very fortunate in working with entrepreneurs and in entrepreneurial organizations. They taught me to multi-task and be humble while taking on huge challenges—no job is too big or too small. In addition, understanding all roles within a firm is key. But most important is to have a customer-service mentality.

What are some of the evolving industry trends that will impact CFA Society Toronto’s membership base?

More and more of us do not participate directly in investments, and the CFA is seen as a high-quality designation whose rigour, discipline, and high standards are recognized internationally as a business designation, not just a finance or investments designation.

The Future of Finance project is an important CFA Institute focus that looks to shape a trustworthy, forward-thinking financial industry that better serves society. What are your thoughts on this?

Transparency is paramount in building trust. We, as a society and industry, must be honest and forthright with those whom we serve and ensure their best interests are being served—customer service again.

Your LinkedIn profile says you create “order out of chaos,” an invaluable skill. Can you expand on this?

Often my background was seen as including a vital skill set to help a rapidly growing organization develop corporate processes and practices to evolve and thrive as a “grown-up” organization. In troubled companies, organizing chaos meant the ability to reach into operations to find the key issues and metrics to focus efforts on improving the business as a whole, not just looking at the financial picture.

Can you share some of the highlights and accomplishments in your career that you’re most proud of?

Staff leadership and working with people is the most important thing I do. Helping team members achieve a new level of skill or look at long-range goals is very important to me. I’m most satisfied when I see the results of working with team members in promotions, achieving a stretch goal, or seeing success outside an organization, such as when one of my members became a CFO at another organization.

What’s the best and worst advice you were ever given?

Treat stakeholders as valuable customers and follow the golden rule! Whether staff, board members, colleagues, friends, or actual customers, you can always help in some way or learn something valuable.

The worst advice I just ignore and move on. Life is too busy and exciting to get caught up with the bad stuff!