Chief Financial Officer


Rideau St. Lawrence Utilities Inc
Prescott, Ontario

Posted On: November 15, 2021
Last Day to Apply: December 15, 2021

Sartor and Associates has been retained by Rideau St. Lawrence Utilities Inc. to recruit a new Chief Financial Officer who will be responsible for the leadership and management of all aspects of financial services for the Corporation, including financial planning, reporting and analysis, budgeting, job costing, general accounting, revenue, accounts receivable, accounts payable, cash management, payroll processing and administration, management information systems and regulatory matters.

This position is also responsible for the coordination of all Board materials related to the company’s financial status and any issues related to Regulatory Affairs. 

BACKGROUND

Rideau St. Lawrence Utilities is a local electricity distributor that serves approximately 6,000 customers located in the Villages of Cardinal, Iroquois, Morrisburg, Westport, Williamsburg and the Town of Prescott.   Rideau St. Lawrence Utilities is owned by our four municipal shareholders, the Municipality of South Dundas, the Township of Edwardsburgh/Cardinal, the Village of Westport, the Town of Prescott and FortisOntario. Rideau St. Lawrence Utilities provides dependable utility services governed by and for the benefit of its customers in a safe and environmentally responsible manner. Rideau St. Lawrence Utilities is committed to their customers, community and shareholders.

Rideau St. Lawrence Utilities currently has 17 employees. The Management Team includes the Chief Executive Officer (CEO) and the 2 direct reports to the CEO, the Chief Financial Officer (CFO) and the Operations Manager.

Current CFO Direct Report include a Regulatory Analyst; a Billing & Collections Supervisor; 2 Administration staff; and 3 Billing Clerks. 

CANDIDATE PROFILE

The essential duties and responsibilities of the job include but are not necessarily restricted to the following. 

Financial

  • Development of the Corporate financial strategy
  • All accounting and financial information for stakeholders as required including preparation of financial statements under Generally Accepted Accounting Principles, including International Financial Reporting System and regulatory accounting
  • Coordination and development of the enterprises budgets and financial plans, including short and long-term planning and coordination with the Corporation’s executive team to support the Corporation’s strategic plans and business goals
  • Securing and maintaining an optimal credit rating
  • Administering the Corporation’s dividend policy
  • Coordination of external auditors and preparation of external financial statements
  • Oversight of the Corporation’s financial transaction processing systems and internal controls for management and mitigation of financial risks
  • Analysis and communication of financial performance, ensuring that risks, threats and opportunities are managed.
  • Development and implementation of corporate tax policies to ensure statutory compliance and to provide maximum benefit to the enterprise.
  • Provision of financial services to affiliate companies through Service Level Agreements
  • In conjunction with the CEO, liaise with shareholder financial staff as required 

Enterprise Risk Management and Internal Controls

  • Identify, monitor, and mitigate financial and regulatory risks through Internal Audits and ERM framework.
  • Construct and monitor effective and reliable financial control systems.

Governance

  • As required by the CEO, supports the Board in the execution of their responsibilities, including assistance in setting agendas, developing work plans and oversight of materials for Board meetings
  • Report to the Board of Directors as required on matters of material consequence that fall within the financial and regulatory area of responsibility.
  • Attend regular Board meetings as required by the President and CEO. 

Regulatory

  • Acts as the primary liaison between the Corporation and Regulatory Agencies, primarily the Ontario Energy Board.
  • Leads strategy planning related to regulatory submission and leads the development of regulatory rate applications and notices including oversight for coordination of Corporate -wide resources to support and prepare applications.
  • Participates in industry forums, consultations and other activities of industry participants within the electricity sector to ensure compliance and adherence to regulations and identify risks and opportunities to the Corporation.
  • Coordinates the development of timely and accurate regulatory applications and notices, including those related to rates, leave to construct, licensing, service area amendments, conditions of service, etc.

Innovation and Organizational Effectiveness 

  • Fosters creativity and innovation and actively looks for new ideas to improve the operation of the business unit.
  • Ensures the finance business unit has the appropriate infrastructure and staff competencies
  • Identifies opportunities to improve the quality of the business unit’s operations and the efficient utilization of resources and ensures the establishment of necessary business process and internal control systems
  • Promotes team development and coaching of staff
  • Sets the tone and fosters a culture that promotes ethical practices, Corporate values including the Code of Ethics and Business Conduct of the enterprise.
  • Ensure compliance with applicable laws and regulations. 

Health and Safety

  • Responsibility for following health and safety policies to ensure staff operate safely 

QUALIFICATIONS

  • Significant experience (10+ years) in a senior management or executive leadership role in financial and business administration
  • Possession of a recognized Professional Accounting Designation, and is in good standing in the province of Ontario (CPA-CA, CPA-CMA, CPA-CGA)
  • Post-graduate degree in Finance, Business or related field from a recognized university or a combination of education, training and experience
  • Strong knowledge of rules and regulations within the distribution and retailing of electricity
  • Thorough understanding of electrical utilities and their day to day operations
  • Experience with Regulatory Accounting
  • Understanding of Enterprise Risk Management
  • Experience in Project Management
  • Experience working with executive teams and Boards of Directors 

COMPETENCIES

Leadership

Confidently leads and develops people and teams in a changing and dynamic environment leveraging the skills of others and delegates courses of action towards the achievement of the strategy and vision of the Corporation and business unit while remaining energized, positive and focused. 

Vision and alignment

Shares a compelling and inspired vision and strategy for the corporation and the business unit and generates commitment and alignment of its people. 

Communications and Listening Skills

Demonstrates the fundamentals of effective communications: active listening, adapting communications styles to audiences, clarity, empathy and responsiveness 

Business sense

Understands and uses the workings, structure, climate and culture of the Corporation and the industry to achieve business and growth outcomes. 

Financial acumen

The position has financial responsibility as it pertains to all operational departments. The position uses understanding of financial information to make business decisions, maximize value and support the financial health of the Corporation. 

Relationship and network building

Seeks and builds alliances, maintains effective relationships, communicates in a compelling and articulate manner instilling commitment, and fosters open respectful two-way communication channels, internally and externally to further the strategy and vision of the Corporation. 

Decision making

The position makes business decisions that could be costly to the organization if made incorrectly.   The position must be able to analyze and synthesize information to understand issues and the situation to identify issues, options, and make appropriate, realistic and timely decisions to ensure safety, quality, productivity and budgets have not been jeopardized based on consideration of the available facts and alternatives and sound calculation of risks. 

Negotiation

Actively listens for underlying nuances and messages and uses persuasion to build consensus, manage and or/resolve conflicts and reach mutually agreeable outcomes. 

Corporate Governance

The position will require regular reporting to the Board of Directors on any matters of material consequence that fall within the position’s areas of responsibility. This position will require the development and implementation of communications initiatives that meet the needs of the corporation’s shareholders, customers, employees and other stakeholders while maintaining the strictest of confidence of information. 

Health and Safety

Actively participate in safety training and be knowledgeable of the corporate safety rules and practices and must implement safe work procedures that ensure the safety of the Corporation’s employees and customers. 

APPLICATION INFORMATION

To explore this opportunity further, please email your resume (filename - “Last name, First name - CV”), with “Rideau St. Lawrence Utilities CFO” in the subject line, in confidence to Larry Sartor at larry@sartorandassociates.com and Mark Fukuzawa at mark@sartorandassociates.com

It is Rideau St. Lawrence Utilities policy to comply with all applicable laws and regulations which prohibit unlawful discrimination because of race, religion, creed, colour, national origin, sex, sexual orientation, age, disability or marital status or any other protected class.

We thank all those that apply for the position, however, only those selected for an interview will be contacted. Thank you for your understanding.

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