Director, Risk

**49981** - **Toronto** - **Regular**

Hydro 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.

It’s an exciting time to join the team at Hydro One

Responsible for the management of insurance and claims functions across Hydro One and its subsidiaries. This role will identify corporate operational exposures to loss and recommend appropriate insurance and risk transfer techniques to eliminates or reduce the impact of loss on the ability of the corporation to operate at a desirable level. Also reviews and approves insurance provisions in all procurement related contracts.

**General Accountability** Risk and Insurance supports the Treasurer, Chief Financial Officer (CFO) and the leadership of the Lines of Business, and is responsible for the following accountabilities:
1. Advise senior management of all potential sources of accidental loss. Supervise activities related to conservation of human, financial and physical assets.

2. Manage the organizations risk management department with the following goals:

- Protect against financial loss resulting from:

- Damage to company property
- Downtime and additional costs from damage to property of the organization and others;
- Liabilities for property damage or injury to members of the public
- Maintain a proper balance among:

- Loss retained
- Risk control expenses
- Claims adjusting costs
- Insurance premium
- Administrative costs
- Contractual transfer

4. Support the Treasurer and CFO in responding to various special requests from the Audit, Finance and Pension Investment Committee on Risk and Insurance matters

5. Support the Treasurer in managing Hydro Ones risk and insurance activities such as procurement of insurance, claims management, Contractual review and approval of claims payments
6. Support the Treasurer in insurance and risk management policies and procedures
7. Support senior management on corporate strategic initiatives related to risk and insurance matters for mergers, acquisitions, divestiture and new ventures
8. Provide the vision and strategic direction for the design, development, implementation and management of an Insurance program for a publicly traded Company and its Stakeholders.
9. Under a custom incentive rate mechanism, develop long term insurance strategies to mitigate insurable loss exposure by balancing the cost of premium against the likelihood of losses.
10. Conduct periodic assessments and cost benefit analyses of insurance programs while evaluating non-traditional risk management tools such as : Captives; O.I.L. ; Risk Financing Optimization etc.
11. Effectively communicate the companys position on ESG to external parties (insurers, lawyers, adjusters and brokers). Ensure that the insurance program is appropriately aligned with the companys ESG policies and targets
12. As new business ventures are explored and created, identify significant property and casualty risk exposures, and then design, develop and secure appropriate insurance coverage to minimize their impact on the Companys total cost of risk.
13. Identify recommend, implement process improvements resulting in efficiencies, and ultimately contribute to the companys scorecard.
14. Manage the companys risk and insurance matters related to due diligence requirements associated with mergers, acquisitions, divestitures, joint ventures and public offerings
15. Maintain on-going communications with the brokers and insurers providing them with business updates and notification of all significant events to ensure risk is well understood and appropriately priced by underwriters
16. Work independently and regularly interface with senior management and legal, providing counsel and advice on potential risks and liabilities on business contracts, projects, specific issues and initiatives, and recommending appropriate course of actions.
17. Prepare detailed submission packages and presentation material for the CFO, ELT and the Board (Governance and Audit Committees to assist them in fulfilling their mandates) as required, for all lines of business and corporate risks
18. Prepare notes and presentation material for senior management as per approval process
19. Work with ERM to facilitate the identification, assessment, and management of risks associated with major projects and strategic initiatives. Support the integration of risk mitigation and control methodologies into project management.
20. Support ERM in the preparation of semi-annual risk profile for the Chief Risk Officer to present to the Board of Directors, to help the President and Chief Exec