Becoming the vice-president, finance and administration at Laurentian University, the only Canadian university to ever go through insolvency restructuring, is a way to “make a difference,” says Sylvie Lafontaine.
It must continue to implement its plan of arrangement, paying out its creditors, pay back a long-term loan to the provincial government, transform its operations and develop a strategic plan. Many of these come with specific oversight conditions from the province. “We have that solid strategic planning process and a brighter future. It’s moving forward in the detailed planning, and ensuring that we're maintaining the course, and the long-term financial sustainability for the years to come.”
She also led the creation of standardized processes to increase consistency, transparency in budgeting and reporting. “I’m a CPA from an educational background,” she said. “I do have implementation of strong governance framework standardizations, which brings transparency … My background provides me with the financial foundations, the governance level, as well as the ability of moving agendas forward for strategic goals.”