Westario Power - Chief Financial Officer

1.0 Summary 

Reporting to the CEO, the Chief Financial Officer (CFO) is a key member of the Corporate Management Team contributing to the strategic planning of Westario Power Inc. The CFO manages the financial operations of the company to ensure compliance with the Board of Directors’ Vision and Values, policies, and all applicable statutes and legislation. The CFO is responsible for ensuring that the Board of Directors and the CEO are supplied with complete, accurate and timely financial information in meeting their obligations under any applicable legislation. The CFO is responsible for all aspects of financial planning and management including the development and implementation of financial policies, budgets, programs and systems, and the performance of statutory duties. In addition, the CFO directs the activities of the Shared Services Department staff.

 2.0 Essential Duties And Responsibilities 

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

 2.1 Corporate Management Team 

• Participates as an active member of the Corporate Management Team. 
• Contributes to the strategic planning of the company. 
• Prepares reports and recommendations for the Corporate Management Team in accordance with the objectives of the Continuous Improvement Process. 

2.2 Financial Duties 

• Ensures that the Board of Directors is supplied with complete, accurate and timely financial information in meeting its obligations under any applicable legislation. 
• Applies principles of accounting to analyze financial information and prepares financial reports in accordance with the financial policies and practices of the company. 
• Analyzes financial information including assets, liabilities, and capital to summarize current and projected company financial position. 
• Serves as custodian of funds, securities, and assets of the organization. 
• Ensures procedures and controls are in place to manage the company’s financial matters in accordance with Board of Directors’ policies and all applicable statutory and regulatory requirements. 
• Appraises the organization's financial position and issues periodic financial and operating reports as required by the Board of Directors and/or CEO. 
• Prepares accurate forecasts of capital and operating expenditures for use in rate setting. 
• Manages the preparation of the annual operating and capital budgets for the company in consultation with the all Managers. 
• Prepares retail electricity rates for Westario Power Inc. 
• Organize and prepare documentation for submission of all regulatory filings as required by the OEB 
• Manages cash flow and investments. 
•  Establishes, modifies, documents, and coordinates implementation of accounting control procedures. 
• Conducts internal audit for statutory obligations and issues periodic reports to the Board of Directors and/or CEO. 
• Develops, implements, and monitors systems to ensure control is maintained over capital and operating expenditures. 
• Directs and analyzes studies of general economic, business, and financial conditions and their impact on the organization's policies and operations. 
• Arranges for audits of company's accounts. 

2.3 Payroll/Benefits 

• Oversees the provisions of payroll services, including employee benefit programs. 

 2.4 Purchasing/Inventory Duties 

• Establishes and manages operation, accounting and control policies and procedures for the procurement of inventory, capital assets and services. 

2.5 Insurance

• Advises management and Board of Directors about insurance coverage for protection against property and vehicle losses and potential liabilities. 
• Administers insurance claims. 

2.6 Legal  

• Administers the legal matters of the company. 
• Negotiates property agreements, equipment and service contracts. 

2.7 Vehicle Operation 

• Operate company vehicles as required. 

2.8 Company Policies 

• Be fully familiar with all policies and procedures as they relate to the position and observe same. 

2.9 Safety 

• Observe all company safety standards. 
• Report unsafe conditions. 
• Recommend ways of improving the safety of the work environment. 
• Ensure work practices are in compliance with the Occupational Health and Safety Act and any other applicable legislation. 

3.0 Supervisory Responsibilities 

Directly supervises the Accounting Supervisor and indirectly supervises five employees in the Shared Services Department. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, recommendation for hiring, training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.