Janice Fukakusa, chief administrative officer and chief financial officer at Royal Bank of Canada (RBC) has been selected as Canada’s CFO of the Year for 2014.

The award is presented annually by Financial Executives Canada, PwC and Robert Half. It honours and recognizes the quality, insight, direction and leadership of Canada’s senior financial executives.

“Janice leads by example and has earned the respect of her peers by demonstrating leadership far beyond a traditional finance role,” says Michael Conway, president and CEO, Financial Executives Canada.

“She not only leads RBC to consistently strong financial performance while supporting business growth, but also champions important social causes, including raising funds for health research, encouraging education in youth and promoting diversity initiatives,” he says.

Fukakusa was chosen by an independent committee composed of several prominent members of Canada’s business community. The judging criteria are: vision and leadership; corporate reporting and performance; social responsibility; innovation and business complexity. Award candidates from a wide range of business sectors were nominated by CEOs, members of boards of directors, financial analysts and other senior executives.

As a member of RBC’s group executive, Fukakusa is one of eight executives responsible for setting the overall strategic direction of RBC. She also chairs the group operating committee, which oversees the day-to-day functional, operating and technology activities across the bank.

Since joining RBC in 1985, she has held positions in retail and business banking, corporate banking, account management, corporate finance, treasury, strategic development and corporate functions. Before taking on her current role, she served as executive vice president, finance.

Fukakusa obtained her Bachelor of Arts from University of Toronto, holds a Master of Business Administration from Schulich School of Business and has earned the designation of FCA from the Institute of Chartered Accountants of Ontario. She volunteers for a number of organizations, including Wellspring Cancer Support, The Princess Margaret Cancer Foundation, Ryerson University and Schulich School of Business. In 2007 she was inducted into Canada’s Most Powerful Women Hall of Fame, and in 2013 was named among the 25 Most Powerful Women in Banking by American Banker Magazine.

Fukakusa will be honoured at a gala dinner in Calgary on May 8.

The 2013 recipient of Canada’s CFO of the Year Award was Brian Lawson, senior managing partner and CFO, Brookfield Asset Management.

Colleen Johnston, group head finance and CFO, TD Bank Group, was the 2012 recipient.