Hydro Ottawa

Manager, Corporate Financing

Ottawa, ON

full_time

$75,622.42-$113,474.875

About This Job

At Hydro Ottawa, we empower the lives of the people in the communities we serve.

As the electricity distributor to the Nation’s Capital, our work powers the essential activities that make up our lives - at home, at work and at play. And as Ontario’s largest municipally-owned producer of green power, we are leading the way to a greener tomorrow.

We are seeking a Manager, Corporate Financing, a change champion and innovative leader ready to embrace the opportunity to guide and mentor others, and enable them to do their best work. And in doing so, to leave a legacy.

Are you ready to make a difference in our community?

JOB SUMMARY

The Manager, Corporate Financing reports to the Treasurer and is responsible for all debt management, cash and liquidity management, foreign exchange, and corporate insurance program functions for the Hydro Ottawa Group of Companies. The Manager, Corporate Financing provides advice and direction to internal stakeholders on financing strategies, risk management and compliance.

MAJOR RESPONSIBILITIES

Debt / Financing

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Strategically manage a complex, multi-faceted debt portfolio for Hydro Ottawa including corporate bonds, project financing, credit facilities and a commercial paper program.

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Monitor capital markets activity to facilitate strategic financing decisions and potential impacts.

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Research, propose, recommend and coordinate implementation of corporate financing models and structures across multiple business entities.

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Prepare / review / manage all legal documentation associated with new corporate or project financing.

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Act as Project Manager for all corporate and project financing leading a team of internal advisors including legal as well as numerous external advisors, lawyers, bankers, and auditors.

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Monitor compliance to the debt covenants and provides reporting information to ensure borrowing covenants / metrics are met including timely interest payments.

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Complete all compliance reporting and payments as per the requirements of trust indentures, credit facilities, commercial paper program, project financing, Independent Electricity System Operator (IESO), and Inter-company promissory notes.

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Review and update IESO prudential requirements as per Market Rules.

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Complete accurate and timely reporting for delivery to the Executive Management Team / Audit Committee / Boards of Directors, including debt outstanding, debt capacity, liquidity, and coverage ratios, market forecasts, etc.

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Manage Cost of Capital requirements for regulated company including regulatory filings and rate applications to ensure appropriate capitalization and recovery of financing costs in approved rates, if required, acting as lead witness in rate applications.

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Review / administer leasing agreements as they pertain to financing decisions.

Cash Management & Liquidity

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Management of annual cash flow requirements for all corporate entities.

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Monitor daily operational cash position and produce management reports (cash position, liquidity, etc.).

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Develop and maintain advanced cash forecasting models.

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Ensure actual / forecast cash flows and credit facilities provide adequate liquidity and meet rating agency requirements.

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Develop long range liquidity forecasts for strategic planning.

Credit Rating

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Monitor key metrics for credit rating on an actual and forecast basis.

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Prepare for delivery ongoing and annual review information requests from rating agencies.

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Proactively engage with credit rating agencies to articulate the company's financial strategy and risk management practices, influencing rating decisions and maintaining a strong credit profile.

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Review information published by rating agencies for truth, confidentiality, and accuracy.

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Research and develop financial metrics used by rating agencies for internal / external benchmarking and reporting to the Executive Management Team / Audit Committee / Boards of Directors as required.

Foreign Exchange

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Monitor ongoing exposure to foreign exchange .

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Assess foreign exchange exposure on annual business objectives.

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Develop and make recommendations on foreign exchange mitigating strategies for reporting to the Executive Management Team / Audit Committee / Boards of Directors.

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Manage ongoing foreign exchange transaction requirements.

Dividends

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Assist in the development / review of policies and provide analysis to be delivered to the Executive Management Team / Audit Committee / Boards of Directors in declaring dividends.

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Facilitate the payment of intercompany and shareholder dividends as per the policies and Shareholder resolutions.

Mergers & Acquisitions

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Determine cash and financing requirements regarding new initiatives.

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Evaluate / analyze and provide financial advice on potential new projects.

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Structure and negotiate complex financing arrangements to support merger and acquisition transactions.

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Prepare, analyze, and develop reports for the Executive Management Team, Strategic Investments Oversight Committee / Boards of Directors in this regard.

Financial Planning / Budgets / Forecasts

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Develop / prepare / maintain sophisticated financial models for cash & interest expense forecasting / planning at the Subsidiary and various Consolidated levels.

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Review short & long-term rolling cash & interest expense forecasts to ensure consistency with operating and strategic plans.

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Compare forecasts with actual results to determine variances.

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Calculate and project financial covenant and coverage ratios.

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Liaise and provide support and advice to Taxation and Treasury Services regarding short and long term interest charges and impact on corporate taxes.

Insurance

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Strategically manage portfolio of insurance policies to adequately mitigate risk exposure of the Hydro Ottawa Group of Companies.

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Manage communications to Executive Management / Audit Committee / Boards of Directors regarding the safeguarding of assets and potential liabilities.

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Negotiate complex insurance contracts with global insurers, ensuring optimal coverage and cost-effectiveness.

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Prepare marketing presentations to be delivered to commercial insurers to solicit requisite insurance coverage, when required.

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Manage complex insurance claims, ensuring timely and accurate resolution.

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Work with engineers across multiple subsidiaries to implement insurance recommendations.

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Provide oversight and direction to stakeholders and Insurance and Claims Management Advisor in all areas of insurance including claims and procurement of insurance policies for the Hydro Ottawa Group of Companies.

General Duties

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Manage daily actual cash flow and short and long term forecasts.

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Interface with banks, other Treasury stakeholders and the larger Finance division.

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Prepare / review / execute all Treasury calendar responsibilities.

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Support Mergers and Acquisition and Tax and Treasury Services areas as required.

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Complete special ad hoc projects, research, reporting, and presentations as required.

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Prepare complete, accurate and timely treasury information for delivery to the Executive Management Team / Audit Committee / Boards of Directors.

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Provide functional advice and direction to other members of the Finance department in the area of treasury.

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Manage and implement treasury management systems, and other complex financial software.

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Coordinate administration and amendments of related policies and procedures including drafting new policies and procedures as required.

EDUCATION AND EXPERIENCE

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Post-secondary education in finance, accounting or a related field

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Professional designation (CPA, CFA or CTP) required

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Experience and formal training in general finance and treasury functions

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Minimum 5 years’ related management experience in finance or treasury functions.

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Related experience liaising with internal / external stakeholders with an excellent understanding of overall business cycles, requirements and priorities

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Strong knowledge / experience of the capital markets and the related financial requirements / proceedings

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Experience with managing insurance programs considered an asset

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Experience with foreign exchange transactions considered an asset

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Particular knowledge of the utility industry and working in a regulated environment considered an asset

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Strong computer skills; proficient in the use of office productivity and collaboration tools, preferably G Suite

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English essential, both oral and written

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Bilingual (English/French) considered an asset

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Ability to manage complex financial decisions with incomplete information

This is a management group opportunity and salary will be commensurate with qualifications.

Hydro Ottawa offers a Hybrid Work Model. Hybrid work is position specific, the details of which the hybrid model will be discussed with successful candidates.

Hydro Ottawa may use artificial intelligence (“AI”) during the recruitment process to aid in the screening and selection of candidates.

Hydro Ottawa is committed to establishing a qualified workforce that reflects the diverse population it serves and we encourage applications from all qualified individuals. We are also committed to preventing and removing barriers to employment for people with disabilities, and we invite you to inform us should you have any accessibility or accommodation needs.

Applicants must be legally entitled to work in Canada.

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