I expect as a former employee, he will not have to declare a conflict of interest, just like Lisa Rait, the former Port Authority chair, although she kept close relations afterwards, and even coordinated her political fundraiser through the Port Authority. There is no cooling off period from going from employee or lobbyist to politician although there is a year cooling off period from going from politician to lobbyist, both of which are very common. Unusually Lisa Raitt waded into two municipal races, endorsing both Carmichael and Tory, who also both endorsed each other.
On the other hand Tory's son is a lobbyist and owns an airline that flies out of Porter, which is considered an official conflict of interest. He has not announced what he will do about various corporate conflicts, saying he will follow precedent. This isn't encouraging following the Ford years, who considered the extent of their business activities and alliances a personal matter, even though these private conflicts appeared to influence their public duties on numerous occasions.