For more than 30 years Sharon Federal has been working in the financial department for Macdonald Realty, and for the last eight years she has been at its helm as CFO and senior vice-president. Over this time she has seen and implemented many changes.
Over the past 10 years there has been tremendous change in the real estate industry due to competitive forces, changes in technology, and other factors. Federal has been involved in all major strategic decisions to keep the company relevant.
"She stands above the crowd when it comes to being able to integrate the financial objectives of the organization with the company policies," said Tony Letvinchuk, managing director of Macdonald Commercial Real Estate Services Ltd.
As senior vice-president and CFO since 2005, Federal has played a significant role in deliberating every major policy decision and putting plans in place to implement these decisions.
"Sharon is thorough, thoughtful and timely," said Donald Meents, a chartered accountant with LMH who works closely with Federal. "She tackles the challenges of her job with infectious energy and cheerfulness and is a positive influence on those around her."
Outside of the office Federal has been heavily involved with helping Vancouver's homeless community. She is one of the founders of the Kitsilano Shower Program, which operates at the Kitsilano Community Centre to provide overnight housing, showers and full breakfasts to those in need. She has also taken an active role in the Cold Weather Program, a charity that houses homeless people in temporary shelters when temperatures drop dangerously low. •
Q&A
Nomination remarks from Tony Letvinchuk, managing director, Macdonald Commercial
How has this nominee demonstrated leadership in finance?
Federal started with Macdonald Realty in 1981 as an accountant in the property management department. Over the next three decades, as her accounting and finance responsibilities grew, she implemented all the company-related financial information reporting systems, which saw the company's professional fees for real estate services increase more than 20 fold; and the number of offices grow from one in Kerrisdale to 19 throughout Metro Vancouver and B.C.
How has this nominee contributed to strategic decision-making and growth of the company?
Federal's impact at Macdonald Realty goes well beyond overseeing accurate and timely reporting of the company's financial picture. She has taken an active part in overall management since it was purchased by the existing ownership group in 1991. With major changes in the industry over recent years Federal has been involved in all major strategic decisions.
How has this nominee demonstrated a commitment to sound ethics and reporting?
Federal has the highest of ethical and business standards and holds all of Macdonald Realty's management and employee information in the strictest of confidence. As the CFO for a real estate company, she has developed the company's financial reporting systems to comply with the Real Estate Services Act relating to handling clients' deposits for sales and lease transactions, accounting for property and strata management clients' trust accounts, and paying out commissions to the sales people involved. This activity must be audited and reviewed each year by the Real Estate Council of BC, and the Macdonald audit has never been censured by the council under Federal's tenure.
How has this nominee demonstrated contributions to sustainability and community initiatives?
Much of Federal's efforts have been to help on the front lines with those people who are most vulnerable in society. She co-founded the Kitsilano Shower Program and helps to refer those in need to other agencies in the community that may be able to offer help. For eight years Federal has participated in Agape Street Catholic Ministry, where she meets female prostitutes and the drug addicted on a weekly basis on the streets of the Downtown East Side. She goes to show them love and support that might develop into a relationship based on trust and a non-judgmental attitude, in the hope that these women might take initial steps to move their life forward in a safe, positive and healthy way.
