Renewable Energy & Regulated Utility – Director, Treasury & Treasurer – Oakville


About the Company

Algonquin Power & Utilities Corp. (‘APUC’) is a growing renewable energy and regulated utility company with over $1.2 billion in assets across North America. APUC actively invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its two operating subsidiaries: Algonquin Power Company and Liberty Utilities.

Algonquin Power Company (‘APC’) owns a direct or indirect equity interest in 43 hydroelectric generating facilities, 2 wind energy facilities, 1 energy from waste facility, 3 biomass-fired generating facilities, and 5 natural gas cogeneration facilities.

Liberty Utilities (‘Liberty’) provides water, electricity, and gas utility services to communities across the United States. Serving over 120,000 customers in six states, Liberty Utilities is unique among its peers for its commitment to Community, Conservation and Customer Care. Liberty Utilities upholds the highest standards of service to meet the day-to-day needs of its customers and offers employee programs that recognize superior customer support and contribution to community. Liberty Utilities has operations in Arizona, California, Illinois, Missouri, New Hampshire and Texas.

Scope of Position

The Director of Treasury  & Treasurer (‘Treasurer’) will contribute to the profitability of Algonquin Power & Utilities Corp (‘APUC’) while maintaining and adhering to the operational requirements through the Treasury function.  Reporting to the Chief Financial Officer, the Treasurer will oversee all Treasury activities, including cash management and forecasting, short-term investing, financial risk management and ensuring adequate liquidity for APUC and its subsidiaries.

Functional Tasks

  • Treasury Oversight – Build a full service treasury function to support APUC’s treasury requirements and continued growth in utilities.  Lead the development, implementation and monitoring of policies, procedures and practices for liquidity and funding management, cash and investment portfolio management, asset-liability management, interest rate management, financial modeling and analysis and capital management for each of APUC, APC and Liberty.
  • Cash and Short-Term Investment Management – With a view to capital preservation, manage the cash reserves of the Company and seek to optimize return on invested funds while ensuring the safeguarding of its assets.  Ongoing monitoring of counterparty risk, analysis of cash forecasts looking at investment horizons, market/economic pattern and trend analysis; maintenance of banking relationships; assessment of banking rules and restrictions; ensuring compliance with financial risk management policy; etc.
  • Managing financial risk – Continually review and assess financial risk exposures and recommend/ develop risk management strategies including the development of financial risk management policies and guidelines; monitoring and reporting of financial risk exposures; managing appropriate risk mitigation including, hedging programs consistent with approved financial risk management policy; reviewing corporate structure amendments, with the CFO and other senior members of the finance group and propose financial risk management strategies as these relate to Treasury.
  • Fundraising – Participate in fund raising efforts in capital markets through either bank debt or equity finance, maintaining relationships with lenders and investors, credit analysts and credit rating agencies. This includes arranging, negotiating, renewing and maintaining credit facilities and other key sources of capital to create viable and accessible financing sources.
  • Reporting – Preparation of quarterly and annual reporting, including MD&A to the Audit Committee of the Board on Treasury-related activities.
  • Manage Treasury Shares – Manages the treasury shares, company equity and stock plans and assures compliance of all regulations in response to changing securities laws. Administers the Company Equity / Stock Plans by maintaining and reconciling controls. Responsible for the issuance of all Company shares and payment of dividends as declared by the Board, all within Toronto Stock Exchange requirements.
  • M&A – As required, participates in M&A activities.
  • Support APC & Liberty – As required, provide treasury support to APC and Liberty including, acting as primary lead on APC’s and Liberty’s banking relationships and negotiations of bank credit facilities, LoC and APUC guarantees.
  • Other – Identify opportunities to improve returns and/or revenues through innovative strategies.

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 General Manager at our client

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.

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.

  • Preferably a professional accounting designation such as CA
  • Minimum 10 years of relevant finance experience with at least 5 years in a treasury role
  • Utilities (rate-regulated) industry experience would be preferred
  • Experience working with a publicly traded company
  • An analytical, detail oriented, team player that adapts well to change
  • Ability to work independently and multi-task under pressure
  • Presents quick decision-making skills
  • Deep understanding of complex financial instruments such as derivatives and hedges
  • Exhibits high standards of business and personal ethical conduct
  • Superior communication skills is essential;  the ability to translate the technical language of Treasury in order to educate both Management and Board regarding risks and mitigation

Remuneration & Benefits

  • Competitive and innovative compensation package which will be discussed with serious candidates

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