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Sr. Derivatives Specialist

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Date: May 9, 2022

Location: Calgary, AB, CA

Company: TransAlta

WHO WE ARE

 

“Powering Economies and Communities”

 

TransAlta owns, operates, and develops a diverse fleet of electrical generation assets in Canada, the United States and Australia, providing municipalities, industries and businesses with safe, low-cost and reliable clean electricity.

For over 100 years, TransAlta has been a responsible operator and proud community-member where its employees work and live. We are committed to fostering a dynamic, productive, and safe work environment. Our employees contribute to a diverse, open, and transparent culture with clear accountabilities, strong leadership, and challenging opportunities for personal career growth.

 

For more information about TransAlta, visit our website at, www.transalta.com

 

Our Commitment to Equity, Diversity, and Inclusion

 

It is our collective mission to ensure that every single employee feels a sense of inclusion and belonging and can show up to work as their true authentic self. TransAlta is committed to hiring a diverse workforce including women, Indigenous Peoples, persons with disabilities, members of visible minorities, and members of the LGBTQ2+ community. TransAlta believes that diversity enhances the quality of its performance, is an essential element to effective corporate governance, and cultivates a strong workplace culture.

 

Click here for our Diversity and Inclusion Pledge.

 

ABOUT THE ROLE

 

We are currently looking to a hire a technical Finance expert to join our TransAlta team. This role falls with our Financial Reporting group reporting directly to the Manager, Financial Reporting.

 

As the Sr. Derivatives Specialist, you will be the lead in providing technical Finance expertise to support our Energy Marketing objectives by working with the front office, middle office, information technology, trading processing, and financial control and other business units to facilitate trading activities on behalf of the generating assets and proprietary trading. You are the overall derivative and process control expert in Energy Marketing that ensures the business units are IFRS and SoX compliant.

 

This is a full-time position at our Head Office in Downtown Calgary, Alberta, with the flexibility of a hybrid work schedule.

 

WHAT YOU WILL DO 

 

  • Provide accounting knowledge oversight over accounting policies, compliance to corporate policies, and manages risk assessment as they impact Energy Marketing Finance including development, formulation and leading change of the former

  • Develops and prepares accounting assessments and memos designed to support the recognition, measurement, presentation and disclosure requirements of derivatives for the Company’s financial statements and MD&A

  • Supports Corporate Reporting external reporting function including quarterly and annual reporting of TAC and TRI financial Statements and MD&A and oversees Financial Analysts who have related accountabilities

  • Evaluate new accounting standards and implementing new IFRS pronouncements (IFRS 9, IFRS 15) that fit with corporate objectives in an effort to reduce the “economic” versus “accounting” results gap

  • Partner with cross-functional leaders in Energy Marketing front, mid, back offices, Commercial Coal, Gas and Renewables, and other Finance, IT, Support teams to deliver upon overall corporate objectives including hedge policy and portfolio management

  • Accountable for communicating and educating technical accounting

  • Advise and report to the leadership team through weekly deal management meetings, updates, proposals and presentations as required. Inform senior management of any irregularities that may present potential exposure and recommendations. Lead change associated with recommendation

  • Evaluate non-routine transactions and researching, documenting and communicating accounting implications to the business for both external reporting and management accounting as they impact KPIs

  • Lead the business through changing IFRS changes, special projects including business growth and expansion as it impacts Accounting, and Reporting

  • General management oversight of hedge accounting application, maintenance and policy formulation and implementation

 

ABOUT YOU 

 

  • Accounting Designation (Chartered Accountant), with public firm experience or related industry experience

  • Demonstrated knowledge and understanding of Energy Trading Front, Mid and Back-office controls and accountabilities

  • Knowledge of the inter-related applications of trading systems, generation metering, invoicing and billing systems to financial systems; technical accounting as it related to Energy Trading; and financial controls and Sarbanes Oxley

  • Proven ability to lead change regarding existing accounting/ finance rules, emerging IFRS rules including IFRS 9 (Hedge Accounting), IFRS 13 (Fair Value Measurement) and IFRS 15 (Revenue from Contracts with Customers) all directly impacting Energy Marketing finance across all offices and cross functionally

  • Demonstrated ability to support, develop and maintain systems, reporting and policies associated with technical accounting issues as they impact Energy Marketing (Hedge Accounting, FX, Fair Value representation, Trade Inventory, Lease Arrangements, Embedded Derivatives)

  • Relationship management skills, establishing and maintaining cross functional collaborative relationships, demonstrated ability to influence, negotiate and facilitate buy-in with a variety of stakeholders across functions.  Build effective working relationships by partnering with cross-functional leaders in Energy Marketing, Corporate, Commercial, Coal, Gas, Renewables, IT and associated Finance departments

  • Experience in leading negotiations, people and change management, project management and act as the primary advocate for derivative accounting issues

  • Demonstrated capability to effectively communicate complex accounting issues and articulate to both a technical and non-technical audience of all levels in the organization

 

Nice to Haves

 

  • Professional designation (CFA, CPA, MBA)

 

OTHER REQUIREMENTS

 

  • Willingness to work extended hours, statutory holidays and weekends as required

 

 

Our comprehensive and flexible benefits, competitive compensation, incentive, and rewards programs form the foundation of TransAlta’s excellent employment proposition.

 

Become part of our TransAlta team today! We look forward to reviewing your application. All applications will be reviewed in a timely manner to the best of our abilities. We appreciate your patience and understanding during the recruitment process.