Cash Management Specialist

5 days ago

Toronto, Ontario, Canada Toronto Hydro Corporation Full time
Job Requirements:

The Cash Management Specialist is responsible for managing day-to-day interaction with financial institutions to manage cash flow under the Corporation's commercial paper program including foreign exchange needs. This role requires a strong understanding of financial principles, excellent communication and presentation skills, and the ability to lead cash modeling, strategies, and forecasting.

This role contributes to the overall success of the organization by collaborating with internal and external stakeholders such as banks, insurance carriers and brokers, and providing mentorship and development to junior staff. The successful incumbent will have experience with financial management ERP and/or treasury technology systems, financial risk management (including Insurance), and knowledge of accounting standards/IFRS, Bloomberg, cash management and cash flow forecasting, ESG frameworks and sustainable finance instruments.

Key Responsibilities:

  • Manage day-to-day interaction with financial institutions to manage cash flow under the Corporation's commercial paper program including foreign exchange needs.
  • Lead the development and implementation of short-term treasury strategies and plans including cash forecasting quantitative models (daily, weekly, monthly and annual).
  • Work closely with the various Finance departments to lead financial budgeting for treasury purposes.
  • Provide leadership and support for debt and financial risk management, research on market rates, bonds, and cost of borrowing.
  • Makes recommendations based on market research to manage, refinance or retire debt and propose strategies to manage debt on an ongoing basis.
  • Leads the development and recommendation of financial short and long-term modelling to support the organization's regulatory activities and business development opportunities.
  • Acts as the primary Treasury contact for the Business Development team; prepares forecasts, models, assessment of financial feasibility and other analysis and provides financial governance and feasibility recommendations to Senior Leaders and Executives in support of regulatory proceedings and business opportunities.
  • Provides treasury support to new and existing business initiatives to support financial assessment process, including research and analysis of funding opportunities and financing (e.g. grants, loans, partnerships, subsidies, etc.).
  • Manages the organization's insurance program structure (incl. asset and property, commercial general liability, professional liability, directors' and officers' liability, cyber and crime insurance).
  • Leads the request for proposal process (RFP) for the selection of corporate insurance broker(s) and the annual renewal process for all organizational insurance policies.
  • Leads and manages short-interval controls and reporting for the review and assessment of cashflow to monitor performance at a corporate level.
  • Prepares 12 month forecasted cash flow for Divisional KPI reporting, and quarterly Audit Committee deck material.
  • Provides monthly variance analysis on the cash flow for Ops report for CFO meetings. Acts within scope of accountability and makes recommendations to Treasurer (as required) to mitigate organizational cash flow risks.
  • Supports setup activities including any initial structuring, financings and credit needs related to these business opportunities.
  • Provides advice and consultation to organizational stakeholders in the positioning of organizational strategies and messages to bondholders and capital markets (e.g. Asset Investment Plan, Climate Action Program, ESG etc.).
  • Prepares memos and presentations for external stakeholder audiences including investors, credit rating agencies as well as for the Board of Directors.
  • Supports the Treasurer through participation in road shows and other local investor relations sessions.
  • Supports capital structuring scenario analysis work for Audit/Board meetings and the ERM Program (quarterly reviews, annual assessments).
  • Assists in the development of a sustainable financing framework for the organization for the external investors (Bank and Bond).
  • Collaborates with stakeholders to integrate sustainability criteria into financing decisions.
  • Works with the legal team and leads the review of the indemnity and insurance clauses for all contracts and agreements to confirm terms and conditions are applied consistently and mitigate risks for the organization.

Requirements:

  • University degree in Economics, Finance, Commerce, Mathematics or related discipline.
  • Certified Financial Analyst (CFA) designation or Chartered Professional Accountant (CPA) designation.
  • Ten (10) years of professional experience in a treasury or investor relations function.
  • Five (5) years of progressive project leadership and/or people leadership experience.
  • Experience with design and implementation of debenture offering and credit facilities.
  • Experience with financial management ERP and/or treasury technology systems.
  • Experience with financial risk management (including Insurance).
  • Excellent communication and presentation skills.
  • Excellent understanding of financial principles.
  • Excellent analytical, problem-solving and decision-making skills.
  • Strong stakeholder engagement and management skills.
  • Strong facilitation and negotiation skills.
  • Demonstrated familiarity with Canadian fixed income markets and corporate insurance programs.
  • Knowledge of accounting standards/IFRS.
  • Knowledge of Bloomberg.
  • Knowledge of cash management and cash flow forecasting.
  • Knowledge of ESG frameworks and sustainable finance instruments.

About Toronto Hydro:

Toronto Hydro is pleased to offer a Hybrid Work Arrangement for this role. This position allows for remote work up to three days per week, based on business needs. Employees will be required to come onsite on those days when they are involved in activities that they or their leader feel are better conducted in person. You are expected to live in Ontario and within reasonable commuting distance of the office.

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