Senior Analyst Contract Settlements

 INDEPENDENT ELECTRICITY SYSTEM OPERATOR (IESO)

Why join us? 

You’ve got great skills. And you want to use them in an organization where you know what you do every day matters. We get that.

We also know that ensuring Ontarians have access to affordable and reliable power doesn’t happen by accident. So we give you the tools, flexibility and support you need to achieve your goals, and development opportunities to help you grow. You’ll thrive in a collaborative, team-based environment that values your unique skills and experiences – and recognizes that when you do better, we become even better too.  

Who we are 

The Independent Electricity System Operator (IESO) works at the centre of the province’s power system, ensuring Ontarians have access to reliable and cost-effective electricity when and where they need it. We operate the province’s electricity grid 24/7, design, run and oversee the wholesale electricity markets, and plan and prepare to meet Ontario’s electricity needs – now and into the future.

The Opportunity

The Senior Analyst Contract Settlements will be reporting to the Supervisor, Contract Settlements, the Senior Analyst Contract Settlements will assist in the management, financial settlement, and administration of IESO-managed electricity resource contracts.  To perform these functions, the Senior Analyst will be required to proactively create, implement and maintain the operation of complex models and systems.  As necessary, the Senior Analyst will interface with stakeholders, established resource developers, and other government agencies in order to perform the functions outlined above.

What you'll be doing

Financial settlement and Shadow Settlement for contracted electricity resources:

• Have an in-depth understanding of all of the various contract and settlement models used by the IESO, and act as a Subject Matter Expert for each of the contract types, including, but not limited to, RESx, CES, HCI, FIT, ESA’s, NUG’s, CHPx, nuclear, CHPSOP, HESOP and IEI
• Utilize broad and thorough knowledge of contract management and settlement matters to identify any implementation issues and propose resolutions.
• Create settlement statements and/or invoices for all technology types.
• Shadow settling invoices received from contract counterparties to ensure accuracy and compliance with contract terms and conditions.
• Assembling of electricity and natural gas market related information and metering data from a variety of sources.
• Ensure financial settlement approval process is completed on time and with a high level of accuracy 
• Complete GA submissions and ensure amounts submitted reconciles with contract payment.
• Oversee the completion of the quarterly and annual financial reconciliation of contract settlement payments to submitted GA values.
• Coordinate with other members of the Contract Settlement team to complete the settlement approval processes and GA submissions under mandated timelines, while managing changing priorities and tight deadlines.
• Creating, maintaining and enhancing complex contract settlement and reporting models for various types of technology.
• Evaluating and recommending enhanced processes to accommodate the increasing volume of contracts being managed and settled.
• Advise on methods and tools, and recommend changes in processes, procedures and strategies.

Assisting with the management and administration of electricity resource contracts. Tasks may include assisting with:

• Review of operating characteristics of facilities to ensure compliance with agreement, such as outages, spill reports, water flow reports and production profiles.
• Point of contact for contract for all contractual matters related to commercial operations, including responding to interpretation issues, working with legal and other counterparties to resolve disputes, and assessing any proposed amendments.
• Monitoring and tracking of Supplier deliverables required in the contracts to ensure timely and accurate submissions.
• The design, development and maintenance of business processes, communications and performance metrics to administer and settle contracts.
• Performing analysis and verification of Supplier reports that are required in the contracts.
• Assist in review of and make recommendations on amendments or updates to contracts in order to implement negotiated or newly developed contractual provisions.
• Designing and producing internal and external reports.
• Developing and maintaining excellent working relationships with IESO counterparties and identify and manage situations where there is potential for disagreement.
• Working with developers in addressing technical and operational issues with projects as they arise. 
• Gathering relevant information from various sources, and presenting findings in a clear and concise way.
• Distilling key information, facts, and concepts from potentially large volumes of complex information.
• Mapping of process flows and documenting procedures.
• Develop original and creative solutions that meet the business needs.
• Preparing briefing materials for the IESO Board and IESO Senior Management.
• The preparation of business plans and budgets for contract management and settlement function
• Audit processes for IESO programs, such as FIT, MicroFIT, and HCI.
• Procurement of external consultants (legal, technical, etc.) to support the group and creation of proposal evaluation materials and evaluation administration.

Technical and financial analysis related to electricity resource contracts e.g. financial and economic analysis of contracts / power purchase agreements. Tasks may include: 

• Using existing analytical tools maintained by Contract Settlements to conduct analysis.
• Modifying, updating, and adapting existing analytical tools. 
• Designing and developing new analytical tools.
• Conducting analysis on raw data to produce reports and present options.
• Assisting with the completion of special projects as required by Supervisor, Contract Settlements.
• Review and audit counterparties’ calculation and reports for assisting negotiations.
• Provide financial advice to senior management for effective and fair contract management for both suppliers and ratepayer.

And other duties or responsibilities as may be assigned

What you need to succeed

Education

• The education required to complete the responsibilities associated with the position is typically obtained through 4 years of university training

Experience

• Excellent Excel skills, with 3+ years of experience maintaining and/or building Excel models and demonstrated skills financial modeling (VBA).
• Experience with Tableau and/or Python for data analysis and visualization.
• Excellent analytical thinking, technical analysis, and data manipulation skills.
• Demonstrated extreme attention to detail with the ability to generate high quality written and data-centered reports.
• Strong ability to analyze raw data, draw conclusions, develop and present practical recommendations.
• Strong problem solving skills with the ability to consult multiple resources, including procedures, reports, and other documentation, prior to implementing solutions.
• Strong ability to prioritize activities to meet deadlines, producing accurate results under compressed timelines.
• Organizes and presents ideas and information logically and concisely.
• Sound knowledge of Ontario and North American electricity and the regulatory environment is required.
• Strong planning and coordinating skills to organize group priorities and workflows.
• Strong personal drive towards action and initiative.
• Ability to work both independently and as a member of a team.
• Proactive, takes initiative and able to multi-task. 
• Ability to learn quickly and adapt to changes on the fly.
• Excellent interpersonal skills with the ability to build relationships.
• Ability to train/mentor others for certain contract management and settlement responsibilities related to IESO contracted electricity resources.
• Familiar with a broad range of computer hardware/software, capabilities, technologies, environments and processes.
• Demonstrates strong understanding of business principles and processes as they relate to technology.
• Excellent verbal and written communication skills.
• Experience with contract management, including reading, interpretation, and summary of complex concepts will be considered as asset.
• Settlement experience within the electricity industry will be considered an asset.

What’s in it for you

• A comprehensive total rewards program, including best-in-class benefits and a flexible workplace 
• A challenging, fast-paced and collaborative team environment, where your perspectives and experiences matter 
• Leaders who support your growth and success through regular feedback and coaching 
• The opportunity to work with some of the brightest minds in the industry 
   

Deadline: May 9, 2024 at 11:59PM

For future reference, please ensure to save a copy of the job description as it will no longer be available once the posting closes.

At the IESO, we know that achieving great results depends on embracing diversity by attracting, developing and retaining people from a wide variety of backgrounds. We do this by ensuring our recruitment and advancement policies are fair and equitable, and by creating an accessible and inclusive environment – one that values every team member’s unique skills and experiences and ensures they have the support they need to achieve their potential. If you require accommodation during the recruitment process, please let us know. 

We thank you for your interest in a career at the IESO, but we will only contact those candidates selected for an interview. 

Note: The successful candidate must be eligible to work in Canada and will be subject to a background check.

The IESO offers a hybrid work model program to most of our employees, based on business needs. Individuals participating in the program can work an average of three days per week remotely within Ontario. It also offers three flex weeks when individuals can work remotely within Ontario . When working in the office, you will be located at our Toronto, ON location.

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