For an ever-progressive economy like Canada’s, while ports like that of Vancouver play a role of trade gateways, the financial empowerment of those ports acts like a force flowing through the country and keeping the progressive spirit of a nation alive.
It is in this scenario that some of the most influential Chief Financial Officers, such as Victor Pang, play another crucial role: that of a catalyst.
Victor Pang, who has been the Vancouver Fraser Port Authority’s CFO for almost a decade, is instrumental in the vital function of adapting to change. Overseeing a comprehensive portfolio – finance, information services, corporate strategy, and enterprise project management.
There, his focus is on implanting strategic, financial, commercial, and project-execution best practices. The efforts ensure a decision-making process that is robust and an execution that is effective. It becomes vital for the port’s sustained health and expansion.
Victor Pang also brings a wealth of experience to this role, having held past leadership positions spanning finance, operations, strategy, corporate development, organizational transformation, and product development.
Along with seasoned board experience, his broad industry exposure – encompassing ports, aviation, technology, mining, manufacturing, food, banking, and law – provides a unique and comprehensive perspective. Victor Pang’s strong foundation is further solidified by his academic background, holding both a Bachelor of Commerce and a Bachelor of Laws from the University of British Columbia.
A Purpose-Driven Return: Enabling Canada’s Economy
Victor joined the Vancouver Fraser Port Authority back in 2016 at a point in his career where he was seeking work with deep purpose and community impact. “I couldn’t have found a better fit!” He reflects.
Being Canada’s largest port, handling more than $1 billion of goods a day, the Port of Vancouver is one of the most vital enablers of Canada’s economy. Canadian families and businesses all over the country rely on the port for essentials. “Like the food we consume, the goods we buy, the clothes we wear, and the cars we drive.”
Home to 29 major terminals and more than 1,000 tenants, the Port of Vancouver is the most diversified cargo-handling port in North America. It sustains 132,400 jobs, $9.3 billion in wages through port activities each year, and generates $16.3 billion in annual GDP across Canada.
As an arm’s-length federal agency, the port authority is responsible for the shared stewardship of the lands and waters that make up the Port of Vancouver. Victor adds, “We work to ensure the port remains competitive, reliable, and collaborate with port community partners and First Nations to responsibly facilitate Canada’s trade for the benefit of all Canadians.”
The work that they do is helping to enable seamless trade with 170 nations across the globe—the Port of Vancouver moves almost as much cargo by volume as Canada’s next five largest ports combined.
Anchored in Discipline: A Philosophy of Financial Stewardship
Describing their overarching financial philosophy in guiding the Port of Vancouver’s long-term strategy, Victor says that the Canadian port authorities are public sector organizations designed to be financially self-sufficient. “Financial return is not an end in itself—it’s a means to allow us to make investments and do the work to help facilitate the efficient movement of goods and capacity for future growth. Our financial philosophy is anchored in robust financial discipline, maintaining a strong financial position, and making the right investments to serve Canada’s trade needs for the long term.”
Finance in a complex, high-impact environment like the port authority requires more than just numbers. That is why Victor says that the five core values guide their daily decision-making:
• “We drive efficiency to optimize performance.”
• “We build strong relationships to succeed together.”
• “We are customer-focused to deliver on our commitments.”
• “We are accountable to find solutions and take the right actions.”
• “We are one team to achieve our purpose.”
Along with execution, these values further direct behaviours in all aspects of their business and operations, including finance. “For example, over the last year, we’ve recognized and celebrated our employees who are thinking and acting like business owners through a spending wisely initiative.”
Also, they’ve highlighted many examples, big and small, where employees have challenged the status quo, asked genuinely curious questions, and gone that extra mile to find ways to be more efficient and effective. Spending wisely includes consideration for how employees can spend their time effectively, focusing on balancing the effort for the best possible outcome.
Integrating Sustainability and Fiscal Responsibility
As a CFO, Victor helps oversee one of North America’s most strategic trade gateways. The job entails balancing fiscal responsibility with the port authority’s long-term sustainability goals. “Sustainability is embedded in all aspects of our strategy and everything we do,” he reveals. This stems from both a sense of responsibility and genuine care. The port authority’s long-term sustainability goals are informed by understanding the environment and operations, engagement with customers and stakeholders, alignment with industry and governments, and being thoughtful about how to best leverage its core competency.
“Fiscal responsibility is also embedded in everything we do.” Sustainability and fiscal responsibility are, therefore, not viewed as two ends of a continuum. They are both deeply integrated in their decision-making, “And the key question is how we can best achieve our long-term sustainability goals in a fiscally responsible way.”
In Victor’s role, collaboration with various departments—from engineering to environment to community engagement—is vital. Thus, ensuring that the financial strategy aligns with the organizational purpose is his prime focus. He explains, “Our purpose is centered around enabling Canada’s trade by being reliable and innovative, while protecting the environment.” The finance team plays an important role in contributing to their goals by maintaining a high level of interaction and engagement with other parts of the business daily. They work in a business partnership model and provide financial expertise across broad operational and strategic initiatives in an integrated fashion. This model allows the finance function to gain a deep understanding of the business, helping to ensure that financial strategy aligns with organizational purpose.
Navigating Volatility: Short-Term Challenges, Long-Term Vision
In today’s volatile global trade environment, as a port authority, Victor Pang shares that they have to respond to daily or real-time issues caused by operational, market, or geopolitical issues. At the same time, they need to think in a time horizon counted by decades when planning for future infrastructure and capacity needs. “To operate effectively on both time scales, we need to be thoughtful and deliberate in recognizing which externalities are relevant in the short-term, long-term, or both.” Sometimes, a major disruption actor in the short term may simply be noise in the long term.
A Personal Mission: Elevating Canada’s Economic Potential
The port authority’s role as a facilitator of national trade and sustainability makes it a dynamic workplace. When asked what aspects of this mission resonate with him most deeply on a personal level, Victor Pang states that as a proud Canadian, he is passionate about seeing Canada achieve its economic potential, improving the standard of living for Canadians, and pushing Canadian businesses to new heights. “We have significant untapped potential—exporting more goods, diversifying markets, strengthening the supply chain, and addressing infrastructure gaps.” The fact that the port authority plays a key role in these critical areas makes his job highly meaningful and purpose-driven.
Also, he believes that to ensure long-term public interest and Indigenous partnerships remain central to financial decision-making, it is important to have genuine curiosity and humility to understand the interests of a specific segment of the public or a specific Indigenous groups, and to truly respect their perspectives.
Furthermore, when making high-stakes decisions without clear precedent, Victor Pang says it is important to stay focused on core strategies, stay true to your values, and have the courage to make the best decision you can with the information you have at the time the decision is needed.
Guiding Principles for Future Leaders: The Three L’s
If he had been a mentor to the next generation of financial leaders entering the infrastructure or public sector, Victor Pang believes that the following principles apply well in any profession and any sector. “Approach your professional life everyday with the three L’s: Lead, Learn, and Love.”
• Have a leader mindset regardless of your position.
• Treat every work assignment and interaction as a learning opportunity.
• Love what you do, and care for those around you.
Victor Pang’s leadership exemplifies how strategic financial management, combined with a deep sense of purpose and commitment to people, can drive significant economic impact and build a resilient future for a nation.
