Under the direction of the Vice President – Chief Financial Officer, directs financial reporting, compliance, asset management, and energy market accounting functions as assigned. Prepares financial statements for a utility comprised of electric, natural gas, transportation, broadband, and water systems in compliance with applicable regulatory guidelines. Manages preparation and presentation of monthly financial statements and financial results to Executive Committee and the Board of Public Utilities. Prepares and reviews reporting to City Council as required by City Charter. Coordinates year end planning and financial statement annual audits with management and external auditors. Responsible for ensuring compliance with GAAP, GASB, and FASB pronouncements and Single Audit and FERC/NARUC guidelines. Reviews internal controls to ensure adequate segregation of duties.
ESSENTIAL JOB FUNCTIONS:
Responsible for the custody and control of the financial assets and records of the Utility.
Makes all disbursements for the Utility as authorized by the City Charter subject to approval by the Board and certification that the disbursement is within the terms and for the purposes specified by the Budget.
Oversees collection and deposit of all monies due to and collected by the Utility as authorized by the City Charter.
Manages the property records and asset management accounting functions as assigned. Analyzes and records asset management transactions in accordance with GAAP/FERC/NARUC guidelines. Oversees depreciation studies conducted periodically by Asset Management.
Ensures accounting policies and practices are in compliance with GASB (and FASB if applicable) accounting pronouncements and FERC regulatory guidelines. Ensures reporting meets all financial requirements and is in compliance with GAAP.
Manages financial report preparation and ensures compliance with current accounting pronouncements.
Researches and prepares memos for technical accounting issues. Coordinates research performed by external experts.
Responsible for awareness and education of technical accounting framework. Coordinates comment letters on proposed accounting standards with significant impact on City Utilities.
Assists the Financial Planning and Analysis area to ensure accounting principles and policies are consistent between the budgeted and actual financials. Investigate variances between actual and projected financial performance.
Maintains expertise regarding the financial software. Analyzes accounting systems and processes and drives efficiency. Researches methods to improve efficiency and assist managers in retrieving financial information.
Prepares departmental annual budget and explains variances from budget.
Analyzes accounting procedures and segregation of duties to ensure proper internal controls. Serves as backup for approval of all financial system security changes submitted to Information Technology to assure proper controls are maintained. Initiates audits of security when necessary.
Coordinates efforts of external auditors to ensure timely and successful completion of the annual audited financial statements. Ensures compliance with accounting pronouncements, Governmental Auditing Standards, and the U.S. Office of Management and Budget (OMB) Circular A-133 Compliance requirements.
Coordinates preparation of the financial information and audited financial statements presented in the Annual Report and Quick Facts. Verifies financial information presented to the City and third parties.
Reviews and approves monthly journal entries. Researches, documents, and advises Finance personnel of proper accounting treatment and upcoming pronouncements impacting reporting.
Oversees electric power marketing financial results and reporting. Verifies Southwest Power Pool (SPP) energy market transactions/settlements are reconciled on a timely basis. Reviews associated monthly journal entries in accordance with FERC guidelines. Ensures accurate accounting and reporting of energy transactions.
Assist with the application, compliance, reporting, and subsequent audit of Federal Grants.
Supervises preparation of sales and use tax returns and ensures compliance with tax regulations.
Manages/coordinates special projects performed by Financial Reporting and Asset Management personnel.
Conducts annual training for finance staff, supervisor training, and management training on proper accounting treatment, requirements, and functions.
Assures adherence to Utility policies, safety operating rules, and non-discrimination/Affirmative Action Plans.
Serves on various committees as assigned by management.
Actively supports all Finance goals, processes, and standards.
Responsible for development, training, mentoring and selection of Finance staff.
Provides backup for Vice President – Chief Financial Officer. Attends the monthly Executive Committee financial review. Presents and discusses monthly and fiscal year-to-date financial results.
Performs other related duties as required or assigned by management.
Education and Experience:
Bachelor's degree with a major in Accounting, Finance, Business or a related field is required. Ten years’ recent progressively responsible accounting experience with at least five years’ supervisory experience is required. Five years’ experience in public accounting or utility accounting is preferred. Knowledge of FERC/NARUC reporting requirements preferred. Knowledge of or experience with electric system power marketing environment is preferred.
Must be a Certified Public Accountant. Advanced proficiency MA or MBA preferred. Must maintain CPA licensure in this position.
Knowledge, Skills and Abilities:
Knowledgeable of Generally Accepted Accounting Principles (GAAP), and FASB/GASB pronouncements.
Knowledge of FERC/NARUC regulatory guidelines and accounting for Utilities.
Strong financial, quantitative, and analytical skills.
Extensive knowledge and understanding of management philosophies and functions.
Working knowledge of intricacies involved in supervising employees.
Excellent oral and written communication skills, and excellent presentation skills.
Working knowledge of PeopleSoft/Oracle financial systems preferred.
Knowledge of budgeting and project administration.
Ensure EEO/AAP compliance according to CU's policy 2.29.
Excellent judgment, decision making, problem solving, and critical skills.
Operate effectively in a team environment.
Ability to work well under high stress levels, with frequent interruptions and tight and changing deadlines.
Typically, sedentary work. Ability to express or exchange ideas by means of the spoken word and receive detailed information through oral communication. Substantial movements of the wrists, hands, and/or fingers, and close visual acuity to operate a computer is required.
Normal office environment. Must be able to work additional hours as needed.
Must be able to work successfully with diverse groups of people. Employee must remain alert and aware of their surroundings at all times and maintain the ability to respond to changing circumstances in a timely manner.