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About Finance

Paul Grant, Chief Financial Officer

  • The Chief Financial Officer (CFO) is a strategic partner and advisor to the CEO, the senior management team and the Board of Directors.The CFO contributes to the development, monitoring and achievement of Corporation goals, business plans and delivery of programs and services in accordance with the Corporation’s values, mission, and legislative mandate. The CFO ensures that actions of the Corporation are in compliance with Federal and Territorial laws and regulations.

  • As the leader of the Finance Division, the CFO is ultimately responsible for all accounting and financial management functions including financial reporting, controllership, treasury and risk management, cash flow management, internal audit, budgeting, regulatory affairs, billing, purchasing, inventory management and other supply chain logistics.

  • The CFO is also responsible for the development and delivery of the Corporation’s communication plan with all stakeholders including Shareholder, customers and employees.

  • The duties of the CFO extend to the Northwest Territories Hydro Corporation and all of its subsidiaries.

  • The CFO is also the President of Aadrii Limited; a joint venture owned 50% by NWT Energy Corporation Ltd., a subsidiary of the Northwest Territories Power Corporation.

Controller/Financial Reporting

  • The Office of the Controller / Financial Reporting is responsible for the development of corporate accounting procedures and policies, maintenance and training of corporate chart of accounts, customer billing for utility and non-utility services (in conjunction with customer service team), accounts payabl functions, accounting for fixed assets, accounting for capital work in progress (capital related transactions) some accounts receivable processes related to collections, head office reception, recording and management of regulatory transactions and PSAS specific transactions, the financial records and monthly reports for NTPC and NT Hydro, lead for the external audit process, corporate financial reporting KPIs.

Budgeting and Regulatory Affairs

  • The Budgeting and Regulatory Affairs Activity is responsible for the management of the NTPC’s financial resources to ensure that resources are properly budgeted and monitored. The Activity is also responsible for supporting the regulatory…..

Treasury and Risk Management

  • Treasury and Risk Management is responsible for developing, implementing and managing systems for cash management including short-term borrowing ($30 M operating line), investment of funds, long-term debt, cash management controls and foreign exchange management. This office is also responsible for insurance cover and claims management, contractual risk transfer and is the corporate liaison for legal matters.

Internal Audit

  • Internal Audit provides an independent, objective assurance and consulting service to improve NTPC’s operations by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, internal controls and governance processes.

Logistics

  • The Logistics Manager is responsible for the management of the Corporation’s logistics including: inbound and outbound shipments; communication between suppliers: procurement processes; supply chain link; inventory control; and managing supplier relations.

  • The Logistics Manager oversees the Corporation’s land program including land planning, siting and acquisition of permits and land rights for the construction, operation and maintenance of electrical utility and office facilities.

 

Helping NTPC to achieve its mission:

     The Finance Division supports NTPC’s mission through the following goals:

  1. NTPC has the fiscal and financial information and analysis necessary to support top quartile operational performance and decision making.

  2. NTPC’s assets and liabilities are managed effectively.

  3. The Finance Division is responsive to client needs.

  4. Finance employees achieve a high level of job satisfaction through clear communication of the Corporation’s Vision and Mission, clearly defined roles and responsibilities, access to training and development opportunities to allow them to succeed in their current role and prepare for promotional opportunities.

  5. Public confidence in the prudence and integrity of NTPC is maintained through sound financial performance supported by a strong internal control environment.

Assets

The Finance department accounts for the Corporation’s assets and produces reports to assist the front-line people who manage capital projects. When large projects (greater than $10 million) are planned, the Finance department takes the lead in seeking the regulatory approvals to allow those projects to proceed as planned. The Finance department also has a role in the tendering and acquisition of assets and also manages the shipping logistics, which has added complexity due to isolation and accessibility challenges.