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Manager, Financial Services

Date: Nov 21, 2022

Location: Thunder Bay, ON, CA

Company: Hydro One Networks Inc

45802 - Thunder Bay - Regular - Ongoing 

Safety Comes First is a core value at Hydro One, and we remain committed to taking every reasonable precaution to ensure a respectful, safe and healthy working environment. Further to this commitment, we have adopted a COVID-19 Vaccination Policy to protect the health of our employees from the hazard of COVID-19. New employees will be required to declare their vaccination status to Hydro One. Employees who do not provide proof of vaccination status may not enter any 3rd party locations that require full vaccination (e.g. customer properties).

Hydro One is proud to be the largest electricity transmission and distribution provider in Ontario, serving nearly  1.5 million customers. We have a long history in the industry with our roots dating back over 110 years to 1906. Since then, we have worked to grow and evolve to meet the changing needs of our customers and communities across Ontario. Today, we’re focused on providing exceptional customer service and ensuring we are building safe communities where we live, work and play.

It’s an exciting time to join the team at Hydro One!

*NOTE* Hydro One introduced a Hybrid Work Pilot Project in 2022 for most office-based roles. Employees work in-office/on-site two days a week and remotely from home for three days a week. Hydro One is adding refreshed workspaces and technology to support these changes.  Join us as we ‘trial & learn’ a new modern way of working and be a key driver of future state!

In office but with intention – a time for team and trust building, collaboration, and socialization. Please reach out to us to learn more!

 General Accountability
This role supports the Director of Hydro One Remote Communities Inc., to develop and implement the strategy, objectives, and business plan for the subsidiary in alignment with the overall HOI strategic objectives while respecting all legislative and regulatory requirements placed on a licenced distributor and affiliate corporation. This role provides effective management of the Controller#s function, maintaining company financial integrity and ensuring compliance as well as efficient and value-added financial reporting. Coordinate the preparation and filing of financial statements and data and lead the
review of the financial statements with external auditors. Lead the development of appropriate accounting policies for the business and liaise with Hydro One Inc. and subsidiaries as required. Provide oversight of the various financial and management accounting systems and supporting activities. Conduct administrative operations by implementing or overseeing the implementation of efficiency measures for: internal control, strategy, reporting and business procurement matters. Supervise and coordinate the work of subordinate staff of the Finance and Billing functions.

 

Specific Accountability

 

Through collateral relationships with respect to the Director of Hydro One Remote Communities Inc., and within context provided by the Director, provide the following:

 

• Carry out a complete Controller’s function for Hydro One Remote Communities Inc. and ensure overall integrity of the organization’s financial reporting. Specific financial reporting includes but is not limited to financial forecasting and reporting to the Province of Ontario, Ontario Energy Board and the preparation of internal reporting to the President and CEO of Hydro One Remote Communities Inc., CFO and Board of Directors of Hydro One Inc. Ensure the monthly reporting cycle is strictly adhered to including the timely preparation of the monthly President’s Report including Preliminary Financial Results.

• Oversee the planning and development of an annual corporate business plan and budget encompassing a five-year forecast and including comparisons of budget to actual, intermittent forecasting and year over year analysis of the income statement, balance sheet and statement of cash flows. Liaise with HONI Corporate Accounting for purposes of staying abreast of changing and new regulations pertinent to the company’s financial statements, processes, procedures or policies. Provide best advice to peers, the Director and above on all matters and duties contained therein and as within the scope of the Controllership function.

•Manage the preparation and filing of various financial reports, specifically, the annual audited Financial Statements including accompanying management discussion & analysis, notes to the financial statements and ancillary support. Oversee additional reporting requirements of the organization including the financial component of OEB rate filings/proceedings, external compliance reporting such as Excise Tax filings, Statistics Canada Reporting and any other interval government reporting requirements. Oversee the development and implementation of remedies to any deficiencies of reporting in a timely manner.

•Represent the interests of the business on relevant committees and/or initiatives both internal and external as required. Represent the

interests of the business by supporting the regulatory requirements, including witnessing, preparation of evidence, development of briefing material, responses to interrogatories and transcript undertakings and general hearing support when required.

• Oversee compliance of internal control requirements associated with the business, specifically Bill 198 regulations. Ensure control

framework is correctly documented and staff is operating in compliance with their area of accountability. Manage control framework changes when

required, and ensure process changes are documented within the framework. Specifically, ensure the quarterly Letter of Representation is prepared and filed in a timely manner; and, provide input on the Letter of Disclosure as needed.

• Oversee the core accounting function of the business and ensure that actual costs are properly reflected in the various accruals, trial balance adjustments, etc. and, that these adjustments have been carried out on a timely basis. Ensure that staff is specifically considering, and including the impact of “material” financial statement items such as actuarial valuations and considerable estimates contained therein (i.e. OPEB/OPRB, LAR Financial Statement Instruments).

• Ensure that sound, defendable and appropriate accounting policies are developed, implemented and maintained for the business. Monitor the application of corporate policy (Hydro One Inc.) on financial reporting and accounting to ensure subsidiary conformity and application where

appropriate. Monitor key developments and/or changes to Generally Accepted Accounting Standards (policy and disclosure) and their impact on the operations or Financial Statements of the business. With this, provide advice and guidance to Remotes’ Management relating to financial reporting and accounting implications and the appropriateness of various management processes and practices and on policy application and interpretation.

•Participate in, or oversee the departments’ participation, as required, in the development of new operations, accounting systems and procedures, both computerized and manual. As required, act as the liaison with external software service providers for purposes of developing or defining the terms of new operations accounting systems. Ensure the development and implementation of those systems is done in a manner that meets the specific needs of the business, including right- sizing, resource considerations and training.

•Act as a steward of certain aspects of the energy-related accounts receivable balances including maintaining the status of outstanding billings and accounts in arrears. Ensure direct reports are following-up on the status of delinquent accounts. Work with the Customer Service Manager to engage First Nation Band Councils for purposes of longer-term and contractual Accounts Receivable arrears’ reduction agreements.

•Provide specific management oversight on complex or material aspects of the business’ financial statement items including materials inventory, fuels inventory, energy accounts receivable and associated provision, fixed asset balances and non-energy accounts receivable. Oversee the certification and control of those account balances/assets as and when required. Act as a facilitator when required.

•Manage and oversee the departments’ specific file retention policies and initiatives including those that are ongoing or periodic in nature (i.e. monthly working papers and files, special procurement files and contract documents, etc.)

•Provide advice and guidance to staff or other personnel on matters related to the financial and billing functions of the business. Ensure that appropriate standards (accounting and business function) are maintained in the various systems and direct the resolve of deficiencies as they become evident.

•Participate directly or indirectly (manage) in efficiency studies to develop new, or broaden existing policies, procedures or approaches to work with specific regards to administrative or financial systems issues. Participate in the development and implementation of new polices/procedures/approaches and ensure they align with the business strategy.

• Provide senior-level leadership on complex, ongoing and operational procurement matters. This may directly or indirectly include, but is not limited to; scoping of RFx’s including defendable evaluation criteria, guidance and interaction with the service provider, complex commercial, technical and pricing evaluation and leading and/or coordinating team(s) relevant to varying RFx’s. Interpret and understand the impact of Remotes operating and political environment and how that will affect various procurement competitions and oversee operations that meet the business needs and expectations. Understand and apply Single and Sole source methodology and potential legal and political implications as and when required to Remotes procurement initiatives.

•Supervise and coordinate the work of staff.  Plan, organize, schedule and assign the work and check work assignments, providing instruction, advice and guidance, as required. Justify recommendations of, and take action on pay, performance and disciplinary matters relating to direct reports.

 

Managerial Accountabilities

Manage the Finance and Billing units and achieve the approved programs and targeted results through:

Maintaining a team of subordinates who are capable of producing the

outputs required:

•ensure subordinates are able and willing to produce the desired output, and that subordinate managers continually improve the processes for achieving the outputs

•assess staff capability to do the required work, now and in the future

•conduct personal effectiveness reviews of subordinates managers/specialists to build relationships and trust, and to improve

effectiveness

•mentor and counsel subordinates-once-removed

Accountability for the outputs of others:

•set the appropriate context for subordinates (i.e. corporate strategies and policies, accountabilities, tasks, budget and programs,

compliance and performance targets, expectations for continuous improvement, etc.)

•set an effective framework of policies and procedures for the work of the unit

•know and ensure own and subordinates’ compliance with all legal and regulatory requirements, and all corporate policies and procedures, and

generally accepted practices relating to the work of the unit

•establish a two-way working relationship with subordinates to solicit their views on conditions and potential changes effecting their

work, and continuous improvement opportunities Providing leadership to subordinates, so that they collaborate competently, and with full commitment, with each other in pursuing the goals set:

•translate the corporate goals and objectives into a direction which guides the work of the unit

•communicate that direction to all staff

•define specific tasks for subordinates which are required to achieve desired results and/or to accommodate changes required within the business operations

•communicate expectations regarding the collateral relationship among subordinates

 

Providing a safe and healthy work environment:

•provide subordinates with appropriate knowledge, skills, information, work procedures and equipment to facilitate responsible behaviour which will protect their safety and contribute to their health

•provide a work environment and facilities where health and safety incidents are minimized

•provide a work environment that supports and values diversity, and is free from harassment

•know and ensure subordinates comply with all legal and regulatory requirements, corporate policies and procedures, and generally accepted practices relating to their work 

 

Demonstrating stewardship of the assets and resources:

•ensure every reasonable precaution is taken for the protection of subordinates, the environment and the assets

•provide for security of human and physical resources, including information

 

Demonstrated Management Skills:

•Accomplished – ability to bring demonstrated and value-added experience to the organization and offer value to areas of service-need.

•Achievement Motivation – concern for working well or for competing against a standard of excellence

•Analytical thinking – ability to understand a situation by segmenting and tracing implications step by step

•Developing Others – takes action to foster the long-term learning or development of others

•Directedness – able to insist others comply with one’s wishes where the power of one’s position is used appropriately and effectively, with the long-term good of the organization in mind

•Impact and Influence – able to persuade, convince, influence or impress others

•Innovation – ability to think proactively and anticipate future needs of the organization, its staff, customers and stakeholders.

•Initiative – takes action, proactively doing things and not simply thinking about future actions

•Information seeking – ability to acquire information relevant to

the achievement of valued goals

• Leadership – able to collaboratively obtain agreement where the power and position is used appropriately and effectively with the long term good of the organization in mind

•Listening, Understanding and Responding – ability to accurately listen, understand and respond appropriately when interacting with individuals and groups

•Strategic business thinking - ability to apply their technical knowledge and experience to making management decisions for achieving business objectives

•Team leadership – ability to take a role as leader of a team or other group

•Teamwork – able to work with others as part of a team, as opposed to working separately or competitively

 

Qualifications, Experience and Selection Criteria

Financial:

•Theoretical knowledge and practical experience in financial principles and practices, and financial reporting requirements.

•Ability to conceive and model pro forma projections of financial results and proven expertise to appropriately incorporate alternative scenarios, assumptions, sensitivities and financial metrics.

•Ability to prepare clear and timely business planning documents which incorporate strategic and logical thinking, concise and objective

analysis, integration with financial and business models, and unambiguous conclusions and recommendations.

•Ability to communicate complex business and financial concepts/issues persuasively, particularly as they influence strategic and/or commercial decisions.

 

 Strategic:

•Success in identifying, developing, and securing efficiency opportunities that are highly complex, and represent investment of personnel resources.

•Excellent skills in influencing key internal and external stakeholders, including highly developed perceptive and intuitive abilities.

•Business acumen as demonstrated through a broad range of formal and informal experiences and results.

•A proven track record of successful commercial procurement negotiations.

 

General:

• High achievement motivation.

•Exhibit managerial courage and the ability to influence senior level management.

•Capable of producing results as an individual contributor as well

as the ability to work in a multi-task/multi-skill team environment.

•Demonstrated record of business successes that were not achieved at

the cost of compromising personal integrity and/or ethical conduct.

•Accepts and exercises accountability and authority for actions and

decisions.

•Excellent oral and written communication skills.

•Ability to work collaboratively with senior level peers both

internally and externally.

• Strong business acumen

 

Education & Experience:

• Honours Degree Business Administration or equivalent together with Chartered Professional Accountants’ (CPA) Designation.

• Ten + years of related experience in a senior or management financial capacity

• Education, capability or equivalent experience relating to Procurement or Supply Chain related matters. 


At Hydro One we understand that the success and strength of our business rests with our people. When we develop their skills, we are investing in both their success and ours. To secure the best talent, we seek to create a workforce that reflects the diverse populations of the communities where we live and work and to create a culture based on safety, innovation and inclusiveness.

 

We are honoured to be recognized by Forbes in its list of Canada’s Best Employers for 2022.

 

Thank you for considering a career with Hydro One, we welcome applications from all qualified candidates. If you are having difficulty using our online application system and you need an accommodation due to a disability, please email careers@hydroone.com. Hydro One will provide reasonable accommodation for qualified individuals with disabilities in the job application process.

 

Please note this email is only for accommodation requests. Resumes sent to this email address will not be considered.

 

Deadline: December 19, 2022

 

 

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