Manager, Finance & Regulatory Services

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Manager, Finance & Regulatory Services

Job Information
Author pmnationtalk
Date February 22, 2021
Type Full Time
Company Hydro One
Location Rexdale, ON
Category Telecommunications
Client Hydro One
Contact Information
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Date: Feb 22, 2021
Location: Rexdale, ON, CA
Company: Hydro One Networks Inc
39861 – Rexdale – Regular – Ongoing 

Hydro One Telecom combines the strength and reliability of a respected utility with the agility of a small telecommunications provider. We work together with our diverse client base to design creative solutions for data telecommunications, and networking challenges that our clients face every day. Our engineering focus and ITIL processes ensure that our services are specifically tailored to meet their individual requirements.

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

Support the Director, Financial Services and Regulatory’s objective of maintaining the financial integrity, compliance and effective financial reporting, regulatory, planning, budgeting and internal control.

Job Description:

  • Carry out the complete accounting, finance, budgeting, planning and regulatory function for Hydro One Telecom Inc.
  • Supervise the company’s reporting to the Canadian Radio and Television Telecommunications commission (CRTC) and preparation of internal reporting and board materials for the Director, Finance and Board of Directors of Hydro One Inc. and Hydro One Telecom Inc.
  • Supervise and plan the development of the corporate business plan and budget including budget to actual forecasting and year over year analysis of income statement, balance sheet and statement of cash flows.
  • Provide assistance during to various lines of business during business planning to ensure accuracy of estimates and proper portrayal of costs and revenues.
  • Provide guidance on the financial aspects of planned acquisitions and other initiatives.
  • Supervise and coordinate the monthly close and reporting process, including the timely and accurate issuance of appropriate management reports.
  • Maintain the integrity of the general ledger, including chart of accounts, review of account balances, reconciliations and account structures, appropriateness of system changes and enhancements.
  • Ensure the impact of all systems projects on the financial accounting systems are evaluated and issues are identified and raised for resolution on a timely basis.
  • Supervise and coordinate the work of staff involved in business process documentation and audit, accounting, purchasing, payables, billing and collections.
  • Assign work and check work assignments providing instruction, advice and guidance, as required.
  • Make effective selections for the finance team and recommendations to Director on pay, performance and disciplinary matters.
  • Operate and control the various financial systems supporting financial accounting activities.
  • Provide advice and guidance to staff or other personnel on such matters as format structure, code usage, terminologies, and parameters of the system.
  • Ensure that accounting standards are maintained in the system and resolve apparent deficiencies in the system output as they become evident.
  • Work in conjunction with Corporate Financial Planning and Reporting to resolved inadequacies in submitting budget formats and suggest alternatives that would conform to system requirements.
  • Supervise and coordinate the preparation and filing of financial statements and data for inclusion in monthly, quarterly and annual reports, prospectuses and special purpose reports. E.g., CRTC and Statistics Canada.
  • Ensure that actual costs are properly reflected and the various accruals, trial balance adjustments, etc. have been carried out.
  • Operate and control the various financial systems supporting financial accounting activities.
  • Supervise and coordinate the preparation and filing of the subsidiary’s input to Hydro One’s external financial statements and management’s discussion and analysis in accordance with generally accepted accounting principles and related securities legislation.
  • Provide direction and guidance with respect to the preparation of analysis for business cases and initiatives within Hydro One Telecom that could have an aggregate forecasted spend of up to $4 million.
  • Prepare briefing notes to support the Director, Finance in evaluating the initiatives for presentation and approval.
  • Provide guidance and service to line units on the necessary items required for project award, including but not limited to, Project IDs, Work Orders and Material Requests, discounted cash flow analysis, profitability, alternatives and net present value calculations.
  • Provide advice and review of carrier services contracts from a procurement perspective.
  • Review of all sales agent’s compensation and pay out.
  • Manage the review of the financial statements with the auditors and regulatory authorities and identify and resolve issues on a proactive basis.
  • Ensure significant issues are reviewed with senior management on a timely basis, together with recommendations for resolution.
  • Develop and maintain appropriate accounting policies.
  • Provide advice and guidance to Business Unit Management relating to financial reporting and accounting implications and the appropriateness of management processes and practices on policy application and interpretation i.e., IFRS vs USGAAP.  Monitor the application of corporate policy on financial reporting and accounting to ensure conformity and proper application.
  • Ensure impacts to current results, business plan and strategies are proactively developed and reviewed with senior management.
  • Monitor, research and communicate developments in financial reporting as it relates to disclosure and financial policy.
  • Ensure compliance with all Bill 198 requirements and design and maintain effective controls.
  • Target to achieve a clean audit report.
  • Represent the interests of the Company on relevant committees and respond to exposure drafts as necessary to ensure new requirements are fully implemented on a timely basis.
  • Ensure impacts to current results, business plans and strategies are proactively developed and reviewed with senior management including lines of business.
  • Be responsible for the advice given and accountable to ensure compliance to that advice on the application of accounting principles in IFRS Canadian and US GAAP including review and implementation of accounting for complex transactions as required.
  • Manage regulatory requirements, including preparation of supporting documentation and responses to interrogatories.
  • Participate as required in the development in new operations, accounting systems and procedures both computerized and manual.
  • Ensure that staff is suitably training to perform duties resulting from the new procedures.
  • Oversee the accounts receivable system. Coordinate with Inergi to ensure integrity of the underlying information.
  • Monitor and follow up on discrepancies and initiate the appropriate corrective action.
  • Maintain and control the status of outstanding billings and accounts in arrears and follow-up on the status of delinquent accounts.
  • Maintain and control provisions for doubtful accounts and the obsolescence of material inventory. Ensure that corporate guidelines are adhered to in determining the value of doubtful accounts and asset obsolescence charges and that the provisions are updated regularly.
  • Act as a facilitator to the business unit to ensure that annual certification of physical inventories are initiated, monitored and completed in an accurate and timely manner and that adjustments for variances are properly processed.
  • Conduct comprehensive analysis to investigate, review and assess the effects of diverse problem and issues on existing corporate financial accounting practices and methods.
  • Conduct studies to develop new or broaden existing corporate financial and accounting systems and procedures.
  • Participate in the development and implementation of accounting and reporting systems which interface or support corporate financial reporting and accounting systems.
  • Identify and resolve major problems in the application of accounting practices, procedures and reporting and accounting systems.
  • Keep up to date with latest developments in accounting theory, practice, information processing and computer application to accounting systems.
  • Perform other duties as required.

Selection Criteria

  • Requires a broad and deep knowledge of finance, economics, financial reporting, accounting, internal control and governance, data modeling, analytics and process design.
  • This knowledge is normally acquired through a four year undergraduate university degree in business, commerce or economics with an accounting or finance major and a professional designation  such as CPA, CPA-CA, CPA-CMA, CPA-CGA or other relevant professional business designation. An MBA would be considered an asset.
  • Requires a minimum of 7-10 years of experience, theoretical and practical, in financial engineering concept, financial, economic and data modeling, analytics, business process design, internal control and policy development.
  • Certification in disciplines related to governance, project management and/or process controls, data analytics/science are an asset.
  • Requires ability to effectively communicate with all levels of management and staff orally, written and using communication tools.
  • Requires excellent interpersonal, collaboration and facilitation skills to deal with multiple stakeholders across the company to provide advice and guidance to resolve controversial issues or build consensus.
  • Requires project management skills.
  • Requires sound judgment and accurate analysis of issues impacting on the Company in order to prepare analyses and commentary.
  • Knowledge of the electric utility business and rate regulated industry would be highly beneficial.
  • Knowledge of SAP, MS, Access, Visio, VBA and Risk Analysis software, databases, excel, PowerPoint.

At Hydro One Telecom 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 2020.

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 [email protected] 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: November 23, 2020

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