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Our Client
Our client is a growing renewable energy and regulated utility company with over $1.2 billion in assets across North America. The company actively invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its two operating subsidiaries.
Scope of Position
Reporting to the Chief Financial Officer, the VP, Enterprise Risk Management (‘ERM’) will co-ordinate and oversee the implementation of the company enterprise risk management program as established and delegated by the Board of Directors and the Enterprise Risk Management Committee (‘ERMC’). Working across all functional groups of our client and its subsidiaries, including, operations, trading, finance, treasury, compliance, sales and marketing and legal, the successful candidate will represent and facilitate a “risk-aware” culture throughout the organization.
Responsibilities
- Oversee the adoption of specific risk tolerances by the ERMC, establishing key ERM program performance indicators, monitoring risk metrics and developing risk mitigation strategies to effectively align our client actual performance with established risk thresholds.
- Undertaking enterprise risk assessments, communicating them to senior management and coordinating risk response action plan follow up.
- Direct and maintain ERM methodology, training, tools and techniques while ensuring their integration with strategic planning and performance management processes.
- Direct staff in the planning, organizing, directing and monitoring of ERM operations, including assisting in hiring, training and evaluating staff; as well as assigning resources as necessary.
- Develop and maintain productive client staff, management, and ERMC relationships through individual contacts and group meetings.
- Aggregates risk information including risk assessments, effectively communicates the risk/reward balance of risk mitigating strategies and provides recommendations to the ERMC.
- Reports to and keeps the ERMC and other relevant stakeholders apprised on the compliance status of the ERM program.
- Verifies risk measurement/valuation models as well as monitors and challenges risk mitigation solution development and implementation.
- Consistently monitoring and improving processes around risk identification and quantification, as well as developing and evaluating risk mitigation strategies.
- Pursue professional development opportunities, including internal and external training and professional association memberships and sharing knowledge and learning with co-workers.
- Align and leverage the efforts of all stakeholders that are directly or indirectly focused on the management of risk throughout the company.
- Maintain organizational and professional ethical standards.
Key Performance Deliverables
In light of the identified responsibilities, the following are specific deliverables that the position is designed to achieve.
- To be agreed upon within a reasonable period after commencement.
Competency Profile
The following competencies listed below define the role of VP, Enterprise Risk Management :
Role Expertise
Demonstrates critical technical or professional knowledge/skills related to the role. Has thorough knowledge of relevant products, services and methods. Expands technical knowledge/skills and keeps up-to-date in own area of expertise.
Planning & Objective Setting
Systematic in approach to work. Produces action plans in which objectives are defined and steps for achieving them are clearly specified. Plans by breaking down large task into subtasks. Develops plans that anticipate obstacles. Is realistic about time-scales and builds in appropriate checkpoints, milestones and controls in order to ensure that desired results are realized.
Commercial Acumen
Applies appropriate commercial and financial principles. Understands situations in terms of costs, profits, added-value and return on investment. Appreciates the commercial impact of own work on the organization’s total expenses and revenues.
People Management
Establishes and communicates clear priorities and sense of direction. Clarifies roles and responsibilities. Adapts management style to achieve optimum results.
Developing & Coaching Others
Accurately assesses strengths and development needs of employees. Challenges others to improve their abilities and actively supports their development. Continually provides timely and constructive feedback, coaching and challenging learning opportunities. Adjusts coaching style based on each employee’s ability and motivation level.
Adaptability
Quickly adapts to new situations and approaches. Open to change and readily adopts new methods in the face of shifting priorities and ambiguity. Can alter own perspective and behaviour in order to adjust to changing demands and plans.
Team Skills
Helps to create a sense of team spirit and harmonious relations through cooperation and support. Balances personal goals with those of the team. Fosters collaboration among team members.
Preferred Experience / Education
The following indicates specific industry, academic and functional experience/qualifications that are important to the successful achievement of the identified responsibilities and performance deliverables.
- Strong technical skills in the management of risk including risk assessment, measurement, modelling, and reporting with a firm grasp on the underlying assumptions of risk models and analytical methodologies.
- An analytical, detail oriented, team player that adapts well to change and brings a proven track record of success in helping to develop and execute a enterprise-wide program that requires gaining management commitment and assisting others in adapting to a new way of doing business.
- Able to understand and articulate the relationship between strategy, risk and value. Adept in translating strategy into execution and operational success factors.
- Effective at communicating risk issues to all stakeholders using the most appropriate messaging.
- Strong planning and project management skills with a strong ability to apply risk analytics, accounting practices, management principles and best of breed business practices.
- Skillful at negotiating issues and resolving technical, operational and managerial problems.
- Deep knowledge of utilities industry program policies, procedures, regulations and laws.
- A graduate degree in business administration with certification as a CPA, CFA or FRM is highly desirable.
- Minimum of 8-10 years of relevant risk management, trading or business analysis experience. Experience in the electricity, natural gas or water utility industry would be preferred.
Remuneration & Benefits
Competitive and innovative compensation package which will be discussed with serious candidates