Finance & Regulatory Manager / Festival Hydro

Finance & Regulatory Manager

Festival Hydro is a local electricity distribution company serving over 22,000 customers across seven municipalities. We are a forward-thinking utility committed to excellence in customer service and operational performance. We are currently seeking a skilled and motivated individual to join our team as Finance & Regulatory Manager.

Position Summary:
Reporting to the Chief Financial Officer, the Finance & Regulatory Manager is responsible for maintaining accurate financial records, overseeing financial and regulatory reporting, and providing effective leadership to the accounting team. This hybrid position plays a key role in supporting the utility’s financial integrity, regulatory compliance, and overall strategic objectives.

Key Responsibilities:

• Manage day-to-day operations of the Finance and Regulatory department and ensure all activities are completed accurately and consistent with timelines.
• Manage the budget process and create templates and reports to ensure appropriate consolidation and review of budgets.
• Review monthly financials for Festival Hydro and Festival Hydro Services and manage the finance team to deliver variance analyses to budget and provide rationale for variances.
• Manage the process to develop and consolidate budgets provided by business units and complete required forecasting for financial reporting.
• Manage the accounting processes within the Enterprise Resource Planning (“ERP”) system.
• Maintain the general ledger, complete reconciliations, and ensure accounts are set up in accordance with OEB requirements.
• Manage and approve all accounts payable and accounts receivable and post monthly journal entries.
• Manage and review payroll processes and transactions including understanding of the Union Collective Agreement and legislative requirements.
• Manage and post daily cash receipts, monthly accruals and inventory transactions.
• Communicate and collaborate with department leaders to stay abreast of spending, budgeting and reports.
• Assist CFO with preparing Board of Director reports and financial statements.
• Liaise with third-party auditors and tax accountants to provide required documentation to ensure the swift closure of auditing activities.
• Regulatory filings, submissions, and compliance; act as an expert resource for all regulatory matters affecting the operations of Festival Hydro.
• Act as the internal resource for interpreting regulatory codes and related documents from provincial authorities, such as the OEB, IESO and Ministry of Energy.
• Work with the billing team to oversee the accuracy and timeliness of IESO settlements, and compliance with the OEB’s rules.
• Ensure Festival Hydro is in compliance with all regulatory requirements, including data collection, reporting, implementation of internal process changes, and record-keeping.
• Ensure compliance with the Affiliate Relationship Code applicable to regulated utilities in Ontario.
• Serve as the primary point of contact for translating and communicating the company’s financial position and operations for the purposes of regulatory applications and reporting requirements.
• Determine implementation and action plans of policy and regulation changes.
• Corporate Scorecard, Key Performance Indicators (KPI) and Reporting; analyze the company’s actual performance compared to the business plans.
• Provide people leadership and direction through coaching, development, performance management and resource planning.
• Other duties as assigned. 

Qualifications:

• Chartered Professional Accountant (CPA) designation
• Minimum of four (4) years of management experience
• Experience in the utility sector is considered an asset
• Strong knowledge of applicable legislation, regulations, and accounting standards (e.g., IFRS, Regulatory Accounting, Canadian Payroll Standards)
• Proficiency in Microsoft Office Suite and financial systems
• Excellent communication, interpersonal, and presentation skills
• Strong organizational, time management, and project coordination skills
• Demonstrated leadership and team-building capabilities
• Strategic thinker with sound judgment and initiative

How to Apply:
Interested candidates are invited to submit their resume and cover letter to hr@festivalhydro.com by June 2, 2025 at 4:00 p.m., with "Finance & Regulatory Manager" in the subject line.

We thank all applicants for their interest; however, only those selected for an interview will be contacted.

Festival Hydro is committed to an inclusive and barrier-free recruitment process. Accommodations are available upon request for candidates participating in all aspects of the selection process.