Utilities – VP, Enterprise Risk Management

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 clientand 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 ofVP, 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…