Financial Analyst

Get AI-powered advice on this job and more exclusive features.50920 - Markham - Temporary - 24 MonthsHydro One is proud to be the largest electricity transmission and distribution provider in Ontario, serving nearly 1.5 million customers. We have a long history in the industry with our roots dating back over 110 years to 1906. Since then, we have worked to grow and evolve to meet the changing needs of our customers and communities across Ontario. Today, we’re focused on providing exceptional customer service and ensuring we are building safe communities where we live, work and play.Job FunctionUtilize existing financial systems and related controls to gather and compile data to produce a variety of business information such as financial statements, budgets, business plans, staff plan, cost trend studies, variance reviews, accounting analysis, financial/statistical reports and the monthly consolidated financial statements. Prepare and/or review financial evaluations. Analyze data to ensure consistency with assumptions and strategies. Coordinate, assemble and prepare data to produce the above information. Develop and maintain the associated financial systems and controls, assess their effectiveness and recommend changes or improvements as necessary. Provide advice, guidance, recommendations and direction to line and clerical staff regarding all manner of financial issues. Develop and implement controls and administer the work in the maintenance of accounts, financial support systems and trust/bank account management. Develop, implement and maintain management information systems and data collection procedures.Job DescriptionDevelop and implement financial systems and related controls to gather and consolidate information to produce a variety of business information such as external financial reports, annual budget, business plan, staff plan, cost trend studies, financial evaluations, performance reports, monthly cost reports and the monthly consolidated financial statements (including all business units, legal subsidiaries and transmission and distribution businesses). Coordinate, assemble and prepare data. Analyze data to ensure consistency with assumptions and strategies. Develop and maintain the associated financial systems and controls, assess their effectiveness and recommend changes or improvement, as necessary.Administer and carry out work related to general accounting activities such as journals, ledgers, accruals and reconciliations. Administer the handling of the station trust bank account and authorize payments within the limits of approved signing authorities for invoices and expense reports. Coordinate with external audit personnel on proposed audit program (i.e. Client Assistance Package).Review financial statements and material for external reporting purposes, external auditors. Coordinate the Quarterly Reporting Package and Letter of Representation and Letter of Disclosure processes. Respond to questions on the financial statements from senior management and auditors in a timely and accurate fashion.Review existing budgetary, business plan, staff plan and financial control procedures to ascertain their effectiveness and recommend improvements as required. Prepare new or revised procedures and assist in their implementation. Provide advice, guidance, recommendations and assistance to line management on budgets and in the evaluation and explanation of significant variations between budgeted and actual expenditures. Review cost control and financial reporting procedures, assess their effectiveness and recommend changes or improvements as necessary. Prepare and deliver orientation presentations, as necessary.Assist with the production of financial statements, budgets, budget restatements, business plans, staff plans, verifying the completeness and accuracy of the information.Provide advice, guidance, recommendations and assistance to line management in assessing the business aspects of internal controls, programs and projects, staff and organization plans, cost benefit analysis, and cost allocation.Assist in the preparation of documentation of projects/programs according to established financial procedures for submission to the Corporate Controller/CFO for approval.Support regulatory processes, as required.Review/maintain organizational signing authority within the finance function to promote efficiency and expediency in approval of finance transactions while ensuring proper internal control procedures.Develop and maintain performance measures and the appropriate reporting system for monitoring and controlling such measures.Conduct special studies, cost/benefit evaluations and analyze current costs and trends to meet line needs and those of the division.Ensure the reliability of Hydro One's internal financial controls by participating in the design, development and implementation of various accounting and administrative control procedures by conducting financial reviews and the follow up of operational and financial audits to ensure identified deficiencies are corrected.Provide and exchange accounting information with other subsidiary and Head Office staff on matters of joint concern.Participate in and/or conduct meetings and discussions on divisional and related financial procedural matters as required and assigned.Review and coordinate preparation of written instructions for use by the appropriate staff in the application of financial and accounting practices and procedures, as directed by the Supervisor.Perform other duties as required.EducationRequires a knowledge of business/financial planning and cost accounting principles, financial analytical techniques and computer applications to develop, implement and maintain financial control systems.Requires a good knowledge of English to communicate effectively with internal and external contacts and to prepare technical reports. This knowledge is considered to be normally acquired either through the successful completion of a four year university education in business administration or commerce with an accounting or finance major plus one year further concentrated study and a recognized accounting designation (CGA, CMA, CA) or by having the equivalent level of education.ExperienceRequires experience to be familiar with the regulated utility business.Requires experience in payroll, payables, financial evaluations, receiving and cost accounting, to prepare statements and reports, budgeting and the processing of work orders, etc.Requires an understanding of the interrelationship of the various finance groups.Requires experience with computers and applications to develop and apply information systems and use information from systems within the business unit.Requires experience with various terminologies associated with regulatory filings and regulatory accounting.A period of over 4 years and up to and including 6 years is considered necessary to gain this experience.At Hydro One we understand that the success and strength of our business rests with our people. When we develop their skills, we are investing in both their success and ours. To secure the best talent, we seek to create a workforce that reflects the diverse populations of the communities where we live and work and to create a culture based on safety, innovation and inclusiveness.We are honoured to be recognized by Forbes in its list of Canada’s Best Employers for 2025.Thank you for considering a career with Hydro One; we welcome applications from all qualified candidates.If you are having difficulty using our online application system and you need an accommodation due to a disability, please email careers@hydroone.com. Hydro One will provide reasonable accommodation for qualified individuals with disabilities in the job application process. Please note this email is only for accommodation requests. Resumes sent to this email address will not be considered.Hydro One and its partners/affiliates may use AI to screen, assess or select applicants for the position.Seniority level: Associate; Employment type: Full-time; Job function: Finance and Sales; Industries: Utilities. #J-18808-Ljbffr