Enova Power Corp., a progressive company dedicated to energizing and empowering our communities while providing the highest level of service and a safe and positive work environment, requires a Vice President Finance and Chief Financial Officer.
BACKGROUND
Enova Power Corp. is a wholly-owned subsidiary of Enova Energy Corporation. Enova Energy Corporation is an energy company with assets in municipal electricity distribution, electricity services, and renewable energy. Owned by the City of Kitchener, the City of Waterloo, the Township of Woolwich, the Township of Wilmot, and the Township of Wellesley, the company is focused on delivering what is next in energy and sustainability for our communities and beyond.
Enova Power Corp. (Enova Power) serves more than 165,000 residents and businesses in the City of Kitchener, the City of Waterloo, the Township of Wellesley, the Township of Wilmot and the Township of Woolwich. Enova has been named one of Southwestern Ontario’s Top Employers for 2026. The award, chosen by the editors of Canada’s Top 100 Employers, reflects Enova’s commitment to putting its people first. Enova employs more than 300 full-time employees at two facilities in Kitchener and Waterloo.
ENOVA STRATEGIC DIRECTION
Purpose: To energize and empower our communities.
Vision: To drive what’s next in energy and sustainability for our communities and beyond.
Values:
- Safety and wellbeing above all
- Everyone has a voice
- Transparency
- Driven to explore new ideas
- Inclusive and empowered
Pillars: At Enova, we’re dedicated to:
- Dependable and reliable service
- Customer and community partnerships
- Continuous improvement
CANDIDATE PROFILE
The VP Finance & CFO is a key enterprise leader and strategic partner to the President & CEO and Board of Directors, responsible for shaping corporate strategy, ensuring long-term financial sustainability, and supporting growth across regulated and unregulated businesses. Reporting to the President & CEO, the VP Finance & CFO leads the execution of all financial transactions, financial evaluations of new business opportunities, M&A activity and identifies opportunities for growth, raising capital for the regulated and unregulated businesses, and overseeing and supporting all aspects of regulatory affairs, strategy and enterprise risk management. As a member of the Executive Leadership Team (ELT), the VP Finance & CFO is an engaged change leader, promotes a high-performance culture, enhances the leadership capabilities of the team, and ensures compliance with corporate policies, procedures, safety rules and regulations.
Direct Reports to the VP Finance & CFO (3): Director, Regulatory Affairs & Risk Management; Director of Finance / Controller; Executive Assistant to the VP Finance & CFO
MAJOR (Primary) RESPONSIBILITIES:
Strategic Planning & Provision of Expert Advice:
- Counsel and confer with the President & CEO on the day-to-day business of the utility, especially as it refers to matters of a financial nature and keeps the President & CEO informed as to any unusual items which may have a significant effect on Company operation.
- Prepare budgets, organize operations and direct the affairs of the Finance Division in alignment with the corporate strategic plan.
- Ensure that the financial activities of the Company are conducted in a manner consistent with company policy, regulatory guidelines and professional standards.
- Develop and execute long-range financial plans aligned with the company’s strategic and regulatory objectives.
- Advise the Board on capital structure, financing strategy, dividend policy, and enterprise risk.
- Support M&A evaluations, joint ventures, renewable investments, and strategic partnerships.
- Prepare reports for the consideration of the President & CEO and ELT members as required.
- Assist external auditors and respond to the audit review.
- Represent the utility at various municipal and utility business committees and functions.
- Attend Board of Directors and Shareholder meetings.
Financial:
- Oversee and direct the financial activities of the company, including cash management, investments, short and long-term debt and preparation of long-term financial plans.
- Provide general direction for staff responsible for the payment of accounts, general accounting and related systems of internal control.
- Lead capital structure strategy, debt issuance, liquidity management, and relationships with lenders, investors, and rating agencies.
- Monitor key utility performance metrics.
Growth & Business Development:
- Lead financial evaluation and structuring of M&A, partnerships, and new ventures to support strategic growth.
- Establish and maintain capital sufficiency and adequacy for the corporation and its business with due regard for liquidity, cost, risk and strategic growth initiatives.
Regulatory Affairs:
- Deliver strategic leadership on regulatory matters.
- Oversee the development and execution of regulatory and rate strategies, including engagement with regulators and key stakeholders to support organizational priorities and long-term sustainability.
Enterprise Risk Management:
- Develop and provide governance for a corporate enterprise risk management framework.
- Oversee activities to identify high priority risks to the organization and oversee the development and implementation of risk mitigation strategies.
Budgeting:
- Provide executive leadership and oversight of the annual budgeting process across the organization and subsidiary companies.
- Review and recommend consolidated capital and operating budgets for Board approval, ensuring alignment with strategic and regulatory objectives.
- Ensure effective governance, monitoring, and control of organizational and departmental expenditures, supported by robust financial frameworks and delegated accountability.
- Oversee the development and financial evaluation of business cases for major capital investments and strategic expenditures.
Staffing:
- Lead, mentor, and develop finance leadership and staff, fostering a culture of accountability, collaboration, and continuous improvement.
- Oversee workforce planning, recruitment, performance management, succession planning, and employee development across the finance function.
- Ensure appropriate organizational capabilities, cross-training, and business continuity processes are in place to support critical financial operations.
- Promote compliance with corporate policies, governance standards, internal controls, and workplace health and safety requirements.
Safety:
- Provide leadership for Occupational Health & Safety activities for the organization to effectively promote a culture of health, safety and loss prevention.
Cybersecurity:
- Support the integration of cybersecurity measures across multiple departments, ensuring that policies and practices are uniformly understood and implemented.
- Collaborate with other senior leaders to review and refine cybersecurity strategies, ensuring alignment with Enova’s overall objectives and compliance requirements.
QUALIFICATIONS
Knowledge/Education:
- Certified Professional Accountant (CPA) Designation
- Bachelor of Commerce or Accounting or Master of Business Administration
- Advanced knowledge of IFRS, regulatory accounting and regulatory policies and code
- Advanced knowledge of rate case economics
- Advanced knowledge of corporate income tax
- Advanced knowledge of business and management principles including budgeting, strategic planning, resource allocation and leadership techniques
- Intermediate knowledge of Occupational Health and Safety requirements as it relates to individual, organizational and operational requirements
- Intermediate knowledge of the contents and administration of the collective agreement
Experience:
- 15 plus years in a progressive senior leadership role
- Minimum 5 years in an executive role preferred
- Preferred prior senior finance leadership experience within regulated utilities or energy infrastructure
- Strong background in capital markets, financing, and regulatory environments
Skills:
- Advanced critical thinking and problem-solving skills
- Advanced organizational and project management skills
- Advanced verbal and written communication skills: ability to communicate with various stakeholder groups at all levels
- Intermediate skills in MS Office
- Intermediate conflict resolution and negotiation skills and the ability to influence and obtain the cooperation of others
- Ability to prepare and deliver effective presentations
- Ability to prepare and analyze financial reports
- Ability to provide strong leadership to motivate and direct work to ensure consistency with the objectives of the organization
- Ability to foster a high-performing, team-oriented work environment
- Ability to network and build strategic relationships with stakeholders, vendors and partners
APPLICATION INFORMATION
To explore this opportunity further, please email your resume (filename - “Last name, First name - CV”), with “Enova VP Finance and CFO” in the subject line, in confidence to mfukuzawa@kaihen.ca
It is Enova’s policy to comply with all applicable laws and regulations which prohibit unlawful discrimination because of race, religion, creed, colour, national origin, sex, sexual orientation, age, disability or marital status or any other protected class. We thank all those that apply for the position, however, only those selected for an interview will be contacted. Thank you for your understanding.
