Settlements Agent

Date: Mar 29, 2024

Location:

Company: Independent Electricity System Operator

INDEPENDENT ELECTRICITY SYSTEM OPERATOR (IESO)

Requisition ID:  19143
Location:  Mississauga, ON (Hybrid)
Status:    Regular
Business Unit:  Corporate Services


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

 

Monitor, execute and support market settlement processes to ensure timely and accurate reconciliation of settlement for the IESO-administered market and programs. Prepare and process data inputs for use in the settlement process including the calculation of settlement amounts.  Prepare market settlement reports for publication and distribution, maintain Settlement records and provide administrative support for the Market Settlements team and processes. Investigate queries and reports to identify anomalies, take appropriate action if required and monitor to ensure anomalies are resolved. Support the update and development of new business processes, procedures, and system/tools as related to the market settlements function.  Assist in the development of internal/external Settlement documentation.

 

What you'll do

 

  • Monitor the completion and performance of the settlement system and processes in the timely and accurate reconciliation of settlement for the IESO-administered market and programs.  Verify and perform analysis to identify discrepancies and take necessary action to resolve the discrepancy.   
  • Prepare, validate and process data inputs for use in the settlement process.  Support the timely completion of month-end settlement activities.  Execute tools to determine the settlement amounts and allocation of settlement charges, including taxes.  Review system outputs and identify any discrepancies and anomalies and take necessary action to resolve them.  Perform such activities according to scheduled timelines required by the market rules and regulations to meet IESO obligations.
  • Ensure preliminary, final and recalculated settlement statements for the IESO-administered market are issued according to the scheduled timelines required by market rules and regulations to meet IESO obligations.
  • Prepare market settlement reports for publication and distribution as per specified service level requirements.
  • Maintain Settlement records including document and record management in support of the Market Settlements function.
  • Process queries to investigate settlement statement inquiries.  Provide support to Market Settlements staff in the resolution of notice of disagreements (NOD) and if required, determine settlement adjustments and provide necessary response to resolve the NOD.
  • Support the update and development of new business processes, procedures, and system/tools as related to the market settlements function.  This includes providing assistance in the development of internal/external Settlement documentation.
  • Perform other duties as required.

 

What you need to succeed

 

Education: 

  • Requires knowledge of data processing and computer processing operations to understand IT and business operations.
  • Requires knowledge and understanding of formulae and equations to perform investigations and calculations to select, analyze and synthesize data.
  • This knowledge is considered to be normally acquired through the successful completion of a Grade XII education in a Secondary school plus a two-year program of concentrated study in the appropriate subjects obtained in the Province of Ontario from a College of Applied Arts and Technology, Polytechnical Institute or Community College level of education or work experience.

 

Experience: 

  • Requires familiarity with market rules, internal procedures and other technical data relating to settlement activities and processes.
  • Requires experience in the management and maintenance of record systems.
  • Requires experience with various types of computer operation, computer data conversion, data processing and database operation, including manipulating data.
  • Requires experience in communicating with internal and external parties on technical matters.
  • A period of over 4 years, up to and including 6 years, is considered necessary to gain this experience.

 

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 
     

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 Mississauga, ON location.

Join our talent community

Sign up for talent community; stay in touch, find out about new opportunities – and discover how you can make a difference. Discover how we use our expertise and commitment to deliver reliable and affordable electricity to Ontario’s businesses and communities, and how we’re innovating to secure a stronger energy future for all Ontarians. Visit Careers at IESO and be sure to follow us on LinkedIn.

Find out why we were selected as Greater Toronto’s Top 2023 Employers, and what we offer.