Chief Financial Officer - Oshawa Power Group : Job Details

Oshawa Power, a subsidiary of Oshawa Power & Utilities Corporation (“OPGOC”), and affiliate of fiber optic, district energy and renewable generation businesses, is the local hydro-electric distribution company that supplies electricity to more than 63,000 customers in the city of Oshawa. Located just 45 minutes east of Toronto off the shores of Lake Ontario, Oshawa serves as the economic engine for the Durham Region. Oshawa Power maintains 1000 km of overhead and underground distribution lines within a 150 km2 service territory, operated at 44 and 13.8 kV, supplied by 9 distribution and 3 transmission substations. The organization is committed to the safe, reliable and efficient delivery of electricity through responsible financial management, strategic reinvestment and continuous innovation.

The Chief Financial Officer is a member of the Executive team accountable for financial management of the organization in alignment with OPUC's strategic business objectives. Reporting to the President & CEO, this executive position also provides strategic leadership and oversight of the Governance and Procurement portfolios.

• Financial Management: Manage the company's financial operations, including budgeting, forecasting, and auditing. Ensure that the financial transactions, policies, and procedures meet the organization's short and long-term business objectives and are conducted in accordance with regulations, accounting principles, and standards;
• Strategic Planning: Develop and implement the financial strategy of the company. This includes long-term financial planning and forecasting, risk management, and investment strategies;
• Financial Reporting: Oversee the preparation and communication of monthly and annual financial statements. Ensure the timely reporting of key financial data and updates to the CEO, Board of Directors, and other key stakeholders. Optimize staff and material resources while driving continuous improvement through the organization;
• Compliance: Ensure legal and regulatory compliance regarding all financial functions. This includes tax planning and compliance with tax regulations;
• Leadership: Direct the Finance and accounting team and ensure their ongoing professional development and training. Participate in key decisions as a member of the executive management team;
• Support the President/CEO and provide leadership, direction and input into the success of the organization with an emphasis on short and long term strategic planning, debt/equity modelling and investment opportunities;
• Oversee all financial reporting and accounting requirements, treasury, rate application filings and maintaining corporate compliance with all regulatory, accounting, tax and financial bodies;
• Corporate officer of the group of companies, including oversight on overall corporate structure;
• Provide senior support and advice to the Finance and Audit Committee including maintaining close contact with the Chair of the committees to provide reports, analysis, and information as needed;
• Provide recommendations to the Board of Directors in relation to the finance portfolio, budget development and operating plan development consistent with the approved strategy;
• Lead OPUC's financial planning, cash flow modelling, debt financing and budget development and management functions. Ensure the company's accounting procedures and reporting confirm to all required and regulated accounting principles and standards. Responsible for the accurate and timely completion of all financial and statistical reporting for OPUC;
• Accountable for the development and maintenance of internal control systems to safeguard financial assets of the company;
• Oversee and direct the customer service, billing, and collection functions with a view to cost effective, customer focused service delivery in compliance with all regulations;
• Oversee and direct the procurement and inventory functions with a cost effective view while ensuring compliance with purchasing regulations and best practices; physical security and integrity of inventory; and enabling continuous deployment of capital consistent with approved strategy;
• Foster and cultivate stakeholder relationships internally and externally, including employee, union, Board and shareholder relationship.

• University degree in Business or another discipline relevant to the position and industry;
• Canadian CPA designation and familiarity with various accounting standards including IFRS;
• Minimum 10 years' experience at a mid to senior management level within a finance/accounting department or division and demonstrated overall progressively responsible career growth;
• Experience leading a customer service portfolio considered an asset;
• Strategic Planning;
• Risk Management and strong ethical standards;
• Excellent communication skills;
• Skills needed to influence group will be: Critical Thinking, Problem Solving and Negotiation;

In addition to working alongside a talented and inspiring team, Oshawa Power offers:

• A flexible work environment;
• OMERS Pension fully vested from date of hire;
• Excellent company paid benefits from date of hire;
• Ontario Government Mobile Data plans;
• Tuition and Fitness reimbursement plans.

Interested and qualified applicants are invited to submit their resume no later than October 7, 2024 by email to: [email protected]. Please include the position title you are applying for in the subject line.

Oshawa Power embraces and celebrates our collective diversity. We are committed to fostering an inclusive, diverse and equitable workplace built on respect, support and collaboration.

Oshawa Power is an equal opportunity employer. We value an inclusive and supportive workplace which truly reflects the diversity of the communities we serve. We welcome all individuals to apply and do not discriminate on the basis of race, national origin, gender, gender identity, sexual orientation, disability, age, Indigenous/Métis status, or other legally protected status.

In accordance with the Ontario Human Rights Code and Accessibility for Ontarians with Disabilities Act, 2005, accommodation is available upon request at any point during the recruitment process. If you require accommodation please email us at [email protected] and we will work to meet your needs. We thank all applicants; however, only those to be considered will be contacted.