Leads the overall planning, implementation, and coordination of all payments to third parties and government entities. Provides interpretation of financial and accounting policies and procedures as needed. Initiates, prepares, and reviews financial evaluations and
ensures that accounting policies are met. Provides functional supervision and acts as an escalation point for operational Accounts Payable staff.
Job Description
Accounts Payable Operational Oversight:
1. Ensures that accounting policies and procedures are followed in the execution of receiving and verifying invoices. Works with Lines of Businesses (LoBs) to meet accounting requirements, and execute payment as per defined accounting policies.
2. Provides advice and guidance on the above activities to AP staff, LoBs, and other personnel participating in the AP process to ensure an adequate supply of important and necessary information. Provides clarity on guidelines and instructions as required.
3. Provides support to LoBs in project administration including release, work order, and reporting activities.
4. Reviews, revises, and coordinates reports and insights to assess impact of AP policies on the unit as a whole to proactively support LoBs and AP staff through common issues such as payment blocks, payment terms, escalations, and approvals as needed. Assesses problem areas, discusses with stakeholders, and develops and implements resolutions.
5. Rectifies the day-to-day problems associated with areas of responsibility, attends staff meetings, and participates in task forces as assigned.
6. Supports audit and compliance initiatives led by the Manager and other areas of the Supply Chain organization.
7. Represents Hydro One with suppliers, other utilities and key stakeholders inside and outside of Canada as required to foster and develop continuous improvement initiatives and for the exchange of data and consultation in areas of mutual interest. Integrates the
recommendations into the overall strategies, policies, and forecasting in Hydro One's Supply Chain Services vision. Participates and oversees continuous improvement initiatives including, but are not limited to, initiatives such as AP technology improvements or policy / process improvements.
Functional Lead Responsibilities:
1. Serves as an escalation point for all operational resources as needed.
2. Translates operational goals to staff in alignment with broader organizational objectives.
3. Assigns and checks work for accuracy and provides advice on Accounts Payable policies, processes and procedures as required.
4. Establishes working relationships of openness and trust to ensure staff provide input on difficulties and challenges.
5. In collaboration with management, builds commitment amongst team to establish and maintain standards and achieve metrics and SLAs as needed.
6. Performs other duties as required.
Selection Criteria
Essential Competencies
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Requires in-depth knowledge of all Accounts Payable functions, general accounting principles, SAP financial structures and financial controls (e.g. SOC)
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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 or by having the equivalent level of experience (a period of up to 8 years is considered necessary to gain this expertize).
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Requires the ability to lead staff through day to day functionality, but also lead on projects and assignments
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Provides support, guidance and training to junior staff to enable them to successfully execute their roles
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Requires strong communication skills, verbal and written, to effectively interact with internal and external clients.
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Requires familiarity with the regulated utility business.
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Requires experience with the operations and objectives of various Lines of Business in order to provide value-added service and recommend process improvements.
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Requires familiarity with Supply Chain functions to seamlessly integrate Accounts Payable function into the end-to-end Source to Pay process
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Requires extensive knowledge of Excel, Visio, Word, Power Point etc. to successfully execute role and support the team
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Requires experience with report development and design to generate monthly statistical data to management
Hydro One Inc.
483 Bay St
Toronto
Ontario Canada
www.HydroOne.com
