JOB SUMMARY:
Reporting directly to the Vice President – Treasury, the Director of Financing Management and Planning will be responsible for Planning & Analysis and Corporate & OpCos Financing for AVANGRID and its subsidiaries. The incumbent will manage and lead treasury staff who will carry out the responsibilities of the Department along with and, under the supervision of the Director.
You will collaborate cross-functionally to develop more effective financing strategies and insightful reporting, to support regulatory needs regarding financing and capital structure, to provide financing assumptions for internal budgets and strategic plans, and to help to minimize risk. Treasury is essential to upholding our commitment to excellence, and it is directly responsible for shaping the Company's future and ensuring the day-to-day financial health of the Company.
You will be required to organize, manage, and communicate about critical plans, initiatives, and strategy, contributing analytical and organizational skills, the ability to communicate effectively in person and writing, an aptitude for learning, an ability to develop and implement creative ideas, and the discipline to manage competing projects with tight deadlines for all Company activities. You will be expected to enable and facilitate staff training and development and to provide for cross-training, where applicable and appropriate.
KEY RESPONSIBILITIES:
Planning & Analysis area: Responsible for forecasting reporting and analysis of all finance & treasury related elements of the business.
Cash Flow: Principally responsible for all cash forecasting (Budget and Revisions) over multiple time horizons: daily, weekly, monthly quarterly, annual, and multi-year. Utilization of Treasury tools for shorter-term forecasting and significant interaction with Control Group and the business units over longer time horizon. Cash flow reporting, analysis and comparison to budgets and forecasts. Identification and analysis of major variances. Production of periodic reports on cash flow and financial metrics.
Debt Balances and Costs: Principally responsible for detailed forecasting, reporting and variance analysis on company debt (balance sheet) portfolio and cost of debt (interest expense).
Capital Structure: Supports forecasting and analysis of capital structure. Identification of long-term and short-term financing needs and dividend recommendations. Development of recommendations regarding meeting financing needs through internal or external market mechanisms.
External Financial Statements: Supports production of 10-K, 10-Q and subsidiary financial statements through review of debt related items and production of certain exhibits and notes included in the statements.
- Calculate current Rating Agency credit metrics and forecast metrics based on long-term plan and updates; track metrics and recommend actions to improve them.
- Provide support to the Regulatory team for existing and new rate cases. Participate in meetings and hearings with regulators related to rate cases, financings, dividend plan, and equity injections.
- Supports production of presentations for third parties (e.g., investors, rating agencies, etc.) and Avangrid’s Board of Directors meetings.
Corp & OpCos Financing (Front Office): Responsible for debt front office activities in Avangrid and OpCos:
- Responsible for maintaining the appropriate regulatory authority for all financing activities; responsible for compliance with laws / regulations / orders relating to finance and treasury matters; leads regulatory activities concerning financing matters in coordination with Regulatory department. Participate in Financing & Treasury related hearings as required by state regulators.
- Principally responsible for all the Financing (long and short term/ external and inter-company) including but not limited to bond issuances, revolving credit facilities, commercial paper program, loans, and other sources of funding. Work closely with the Treasurer so execute financing plan.
- Review Financial agreements documentation.
- Responsible for debt covenants and regulatory compliance.
- Participate in finance testimony with regulators as required.
Determine and forecast foreign exchange and interest rate hedge needs to reduce market exposure. Execute hedges:
- Alling with Control on hedge accounting before execution.
- Register and administer the transactions in SAP.
- Monitor and amend/adjust trades as needed.
- Support hedge accounting tasks and reporting.
Preparation and filing of periodic required regulatory reports.
Negotiate and maintain sufficient letter of credit lines to satisfy collateral needs for the business units.
Coordinate green financing efforts, according to Avangrid Framework for Green Financing, monitor compliance of green financing debt requirements.
EDUCATION/EXPERIENCE REQUIREMENTS:
- Bachelor’s degree in Finance or a related field, Master’s degree is preferred.
- At least 10 years of related experience.
- Equivalent combination of education and experience may be considered.
SKILLS/ABILITIES:
- In-depth knowledge of finance, financial instruments, financial markets.
- Excellent leadership and communication skills, with the ability to collaborate with multiple cross-functional teams simultaneously.
- Superior organizational, communication, interpersonal and planning skills.
- Ability to manage multiple priorities simultaneously and deliver desired results.
- Fortitude to conform to shifting priorities, demands, and timelines; ability to anticipate and/or react to project adjustments and alterations promptly, efficiently, and professionally.
- Expert level analytical and problem-solving capabilities on an expedited basis.
- Flexibility during times of extreme change and challenge without constant re-assurance.
- Ability to effectively prioritize and execute tasks in a dynamic, high-pressure environment.
- Global perspective multi-cultural understanding and approach.
- High integrity and emotional intelligence.
- Strategic orientation with ability to act tactically, as required.
