Regulatory Affairs Manager

InnPower•Innisfil, ON

1d•Onsite

About The Position

InnPower is seeking a Regulatory Affairs Manager to lead regulatory strategy and ensure compliance with provincial and federal regulations. This role involves monitoring regulatory changes, preparing and submitting reports to regulatory bodies like the Ontario Energy Board, and ensuring adherence to industry standards. The manager will collaborate with internal teams to align operational practices with regulatory requirements, communicate key information to stakeholders and customers, and advocate for organizational positions with regulatory bodies.

Requirements

University Degree in Business Administration/Finance, Accounting, Commerce, or related discipline.
Minimum of five years of senior regulatory management experience
Financial Analysis Skills: Proficiency in analyzing financial data to support regulatory filings, including Cost of Service (COS) and Incentive Rate-Setting Mechanism (IRM) applications
Experience in budgeting processes and financial forecasting related to regulatory impacts.

Nice To Haves

Professional accounting designation (CMA, CA, CGA, CPA) or equivalent is desired.
Strong proficiency in financial systems, ERP platforms, and advanced financial reporting tools.

Responsibilities

Ensure that the organization adheres to provincial and federal regulations, including those set by the Ministry of Energy (MOE), Ontario Energy Board (OEB), Independent Electricity System Operator (IESO) and other regulatory bodies.
Develop and update internal policies and procedures to align with regulatory requirements and industry standards.
Keep abreast of changes in regulations, legislation, and industry trends that may impact the organization, as well as advising senior management and relevant departments accordingly.
Oversee regulatory financial accounts and processes to ensure accuracy and compliance with accounting and regulatory standards.
Coordinate internal and external audits related to regulatory compliance and ensure that any findings are addressed appropriately. Includes the annual internal bill audit for the Customer Service Department, as well as any ad hoc external audits from regulatory bodies.
Act as the organization’s subject matter expert on OEB regulations, codes, and regulatory frameworks.
Recommend regulatory strategies, tactics, and positions to support organizational objectives and optimize regulatory outcomes.
Assess impacts of regulatory decisions and submissions on revenue requirement, rate design, and financial outcomes
Analyze, manage and oversee regulatory data from all departments on a monthly, quarterly and annual basis to support mandatory regulatory reporting.
Lead the development, preparation, review, and submit necessary reports, applications, evidence and documentation to regulatory agencies, ensuring accuracy and timeliness. Includes the Corporation’s Rates submissions, Cost of Service (COS), Incentive Rate Mechanism (IRM), Incremental Capital Module (ICM) Advanced Capital Module (ACM), Record Keeping Requirements (RRR), Electricity Service Quality Requirements (ESQR), APB Benchmarking and Conditions of Service).
Act as the point of contact for regulatory agencies, facilitating communication, building relationships and addressing any compliance issues. Includes interfacing with intervenors, OEB staff and legal teams during technical conferences, settlement conferences and oral hearings.
Develop and manage budgets for major regulatory submissions, including COS and other applications, ensuring appropriate cost control, approval processes, and financial oversight.
Identify and implement process improvements to streamline regulatory submissions, enhance efficiency, and ensure timely and accurate regulatory approvals
Identify potential compliance risks and develop strategies to mitigate them, including conducting risk assessments.
Manage responses to compliance breaches or regulatory inquiries, including investigating incidents and implementing corrective actions.
Lead the regulatory team, promote career development through training plans, set annual performance targets, and provide ongoing feedback and coaching.
Conduct performance evaluations, provide guidance to staff, and address discipline and staffing issues. Ensure team members are fully supported in their roles.
Foster a high-performance culture focused on financial and regulatory efficiency and accuracy, while ensuring alignment with organizational objectives
Deliver regulatory reports, presentations and recommendations to the executive team, contributing to strategic decision-making and long-term regulatory and financial planning.
Deliver regulatory reports to the Board of Directors, ensuring key stakeholders receive the insights and data needed for informed decision-making.
Communicate with stakeholders, including regulators, industry associations, and internal teams, to address regulatory issues and share relevant information.
Support the CFO and Executive Team in strategic initiatives, where updates to regulatory requirements will impact utility operations and industry practices.
Provide leadership and train staff on regulatory requirements and compliance practices to ensure organizational awareness and adherence.
Represent the organization’s interests in regulatory proceedings, hearings, or consultations, and advocating for policies that benefit the company and its stakeholders.
Participate in industry committees, including the Electricity Distributors Association (EDA), Cornerstone Hydro Electric Concepts (CHEC), Utilities Standard Forum (USF) and IESO Working Committees.
Oversee the economic evaluation process by managing the Finance and Regulatory Specialist’s administration of letters of credit, developer-related documentation, financial models and related fixed assets.
Oversee the company’s Key Performance Indicators (KPIs) in the monthly and annual scorecard by monitoring and analyzing metrics that reflect the company’s strategic goals, as well as targets set by the OEB.
Act as a Project Manager by planning, executing and overseeing large regulatory projects, including Cost of Service applications (OEB) and other ad hoc projects.
Prepare comprehensive financial models and analysis to assist in financial and regulatory decision making.
Oversee and prepare the annual regulatory financial budget including the calculation of distribution revenues, sale/cost of power, regulatory accounts and any regulatory impacts on future spending.
Assist the Finance department on regulatory accounting matters, the financial year-end audit and ad hoc analyses as required.
Perform other duties as assigned by the CFO.